I'm new here and it's been a long way to get to this site after - you know the story - bunch of seminars, day trading rooms, systems, blown accounts :-) My friend told me about this site and I'm looking forward to be a part of this....Greetings from Chicago!
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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another trader trying to make escape velocity from my day job
most of what I see out there is hype, so I am sticking to manual trading until I have a platform I can program in my sleep before I try to automate...
so glad I found Big Mike's
I'm trading about 1 year. Small amounts, as I'm just a starter. I am developing two trading fields:
1. Manual, supports and resistances.
2. Semi-automated. I'm developing neural network system. This is how I've found this forum. Because Ninja is .NET based and I know how to code in C# . It will be more easier for me, than to learn a new coding language (MQL)
My aim is to become a full time trader.
Hi Mike and fellow traders. I came across a link to Mike's blog and followed it up and liked the content and here I am. I don't join forums as a rule but this one has so much information and such a positive intent that I have to look deeper. I am a technical based scalper with nearly a decade of hard knocks learning the hard way to scalp almost all in forex. I lost a bundle in the beginning and determined to never quit. I recently switched to the emini's as I like the volatility which is similar to forex spot and the shorter day session with its limited moves. There are so many trading styles and tools out there for trading these products that its hard to choose where to start. I like the simple approach to charting and look forward to being part of this community.
Good Day Fellow Traders:
A little background on myself and my experience in trading.
• I have been trading on and off for the last 17 years, starting my trading experience during the “internet bubble”. I did not realize it at that time, but I was lucky to be trading during a period where your mistakes were offset by a market that wanted to go up. A number of traders that I was associated with during that period in time blew up their accounts when the market reached a point that you had to know what you were doing.
• When I started out I took a number of trading courses, and ultimately learned that most were “snake oil salesmen” intentionally or unintentionally ripping people off. Just to name of the few of the courses I took were:
o Larry Williams – Million dollar challenge
• After going through a period of jumping from one trading room to another, I decided to learn how to trade on my own. At the time the platform of choice was TradeStation 2000i which I started to do limited programming on.
• I reached a point where I would paper trade a system for 2 months before putting dollars into it, and had trouble finding consistent wins with any swing or daytrading system due to the lack of volatility.
• I have traded stocks, futures, commodities but no options
• I took a break from trading (this was a part time endeavor for me) the last 7 years and now starting to look back into the market. While some of the old “trading experts” are still around (kwikpop, Nexgen, etc.) I see a number of new ones trying to pitch the same “stuff” from 15 years ago.
• I am now going to experiment with Neural Nets, as this was the last area I was working on before I shut down my day/swing trading and moved to position trading. I was working with a company “The Grail” (that offered genetic optimizing and neural nets) before the guy suddenly closed shop stating he had been hired by a firm and no longer wanted to work with individual traders, leaving everyone hanging. I see he is now back working with individual traders……..too funny!
• I am currently trading a swing trading system through Omnitrader (using selected pieces that they offer) which has been profitable on a large basket of stocks. It typically has 60 to 70 positions open (both long and short) and appears to weather up and down markets. While trading this I am also working with the Neuroshell platform and NeuralNets, experimenting to see if this is something for the future (either daytrading or position trading). In the past I have owned (just to name a few) or participated in:
o Kwikpop (good people)
o Roy Kelly
o Jan Arps
o Underground Trader
• I am currently staying away from most black box systems due to my negative experience. Discretionary trading can be mastered, but it really is not for me. I need a system that has hard and fast rules that I will stick with no matter what. I am willing to compromise and have a hybrid system that is 85% mechanical and 15% discretionary, but not more than that. My experience has shown all of the systems that are being sold post/promise fantastic results that cannot be duplicated. I initially thought the equity curve was a good test of a system, but soon learned that I could write trading systems for any time frame in the past that post terrific historical results (equity curves), but crash and burn going forward.
Please feel free to contact me if you have any question on my experiences as I would be happy to share. I would hate to have anyway waste the dollars I did in my quest for the perfect system.
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