Hi forum members - new to this forum...I think I traded with Mike in the past.
I am a professional trader - that is I trade for a living. I make a steady consistent positive gain almost everyday.
Been trading a while - 5yrs professionally full time after about 2 years of consistency, which was after about 3 years of losing....and a small fortune in indicators and blown out accounts.
My favorite saying for all newbie traders - Endeavor to Persevere! Grow into this, that means even the size account you trade, the number of contracts, and the amount of your daily goal. The best way to keep it is to have earned it (most times it will be the hard way).
So, I started a thread in the Journal forum where I will post my activity and answer any questions, etc.
One other thing -
I have had moderating gigs for different organizations, and I have traded for a private hedge fund, and a few private accounts. I do not make millions, but I do make a decent steady living.
Now I spend my time helping people 1:1, and trading with a few friends.
So, if anyone in this forum would like some help with getting started, then maybe I can save you some heartache, frustration and maybe even some money.
But first off, I have to tell all new traders - there is no way around the dues you will pay to become successful at this. I wish it were going to be painless, but it is not. You are going to have to wade through the muck, the junk, the con's, the hype and the bs of this business, and 'endeavor to persevere' to come out the other side.
Best 2 cents worth is to not take anyone else's word for anything about whether a system is good or not. What's important is what works for you. There is no easy answer.
Most important is to concentrate on validating the trading claims made from any system or method. This means research, and actually looking up the trades. Look for TOE, PRICE, STOP, TARGET and Final exit and see if the fill was possible. If the trade is marked sim, don't be bummed out about it. As long as the trade was placed in real market time, cash or not, look to see if it was accurate and successful.
Second cents worth is do not trade any of your cash until you have successfully traded the method you are reviewing on sim in real market time. I have found this to be one of the hardest things for new traders to do, myself included.
So whatever I may say here in response to anything, keep in mind that I have gone through it also ...and (here is the sad part) someone also told me everything I may tell you, and I too had a hard time listening. So, I learned things the hard way, and it cost me lots of money, and lots of frustration and heartache. So, it will probably be the same for you... but I sincerely hope not.
Last edited by Jaguar52; January 16th, 2010 at 05:33 PM.
The following 10 users say Thank You to Jaguar52 for this post:
It all started 2 years ago...i was very interested in how the markets move. As time past by money also past away. I've been in tradingroom but with small succes. I had Ensign en IQ feed but i had no success...Now i want to start over again with clean sheet and search until i find my own strategy. Hopefully i can learn new things on how the look at the charts.
I am from Czech Republic, trading around 3 years with "roller coaster" results ,
looking for optimal way to this bussiness, hoping to be maybe useful for other
members of this forum or to develop myself from your opinions and advices.
I was reading several other forums and they were always referring to Big Mike's Trading so I had to join to find out what was here. I have been trading for quite some time, mostly emini futures. My journey has been like most from to many indicators and exploring various systems. Now I am trading price action using 5 and 30 minute chart. Look forward to learning and sharing.
Hi all... new to the forum, but not to trading. I started trading stocks back in '99, and eventually found my way into emini futures about 3 years ago. I've blown up plenty of accounts, and been through lots of brokers in that time. I just recently switched from Tradestation for charting to NinjaTrader, and am in the process of moving from Infinity to Mirus Futures for my broker. Hope to continue my learning here!