I am not sure how much time I will spend in the forum/chat but I wanted to introduce myself. I am from Erie, PA and have been trading for 12 years. Mostly trade FX around economic reports. Found my best success having no bias going into the report and just trading price action.
I'm new to this forum. Only discovered it two days ago and it looks great so thought I should register.
A bit about me; I've been interested in the markets since age of about 9 (38 now) and I've bought and sold stocks since age of twelve, although on a very sporadic basis. I generally did well at this (particularly after the crash in 2008) but recently realised that, now being interested in trading more seriously, I hadn't been doing anything with any kind of strategy and had just been pretty lucky.
I've been trading for about a year now (sim and very small accounts) and trying to learn as much as possible. I have no consistent approach as yet but am becoming more focussed on simply reading price action.
I hope to learn much here and hopefully in many years to come, I might be able to contribute.
Thanks for providing such a useful and educational forum.
Markets markets markets, man i love this stuff! I've been following the stock market since i was 11 it wasn't the money so much as it was the power of being able to own a part of any company you wanted to. My thirst was unquenchable and must have googled how to make money with stocks 1000 times. then i was introduced to the idea of day trading and knew it was a match made in heaven... or so i thought. After spending way too much money on the online trading academy which by the way is (total crap) I then proceeded to blow out a 9k futures account with nothing more then fake confidence and to be quite honest very unclear direction. Sure the concepts were there like SL and trading plans and education but i didn't really get it yet. there really is so much to learn. Suffice to say I was down and losing confidence fast and even gave it up for a while till i felt i was at least smart enough not to fool myself into thinking i know everything. So ive started paper trading on a demo acct and wont be too hasty this time. Ultimately i know this can afford me the lifestyle and career i desire so i want to let it last.
First, big thanks to Big Mike for creating this and to all the forum members.
I've been reading threads for a couple of days and the atmosphere here is so much more friendly than many other places!
I started to look into trading via TheOilMoney, they sell a mean reverting indicator for CL and focus on intra-day scalping.
Opened a demo account on Ninjatrader and I ran it into sim for a week or so and it was all good until I realised I didn't know what I or the indicator were doing.
I'm glad I stopped and looked around: I came across candlestick charting (just the names of the formations kept me glued),
then went onto Murphy's Technical Analysis of the Financial Markets, and now reading Miner's High Probability Trading Strategies -
while using past threads as a soundboard for questions and ideas.
The webinars here are great, the stuff on trade plan and account management opened my eyes on some of the stuff I would have
As a result I'll probably steer towards NQ and trade hyper-conservative, because I have such a small account
and if I blow it I want it to go in 1000 moves, not 3. Two time-frames setup, following the trend aided
by a simple moving average and a stochastic for momentum reversals. Elliot waves and retracement percentages
(whether Fibonacci's or derivates) fascinate me but they're too complicated for me now. I'll either stick with 50%
retracements or wait until all the rest comes naturally before forcing myself to use them.
Wish me luck because the first $100 I make off trading will fund an Elite Membership.
After 150 days being member of futures.io (formerly BMT) itís time I fulfilled the tradition of writing this hello post. Iím in trading since two years ago, one year with futures. Iím a .Net developer, I feel extremely comfortable with NinjaTrader because of Ninjascript is C#. In my opinion itís a wise choice not to invent a new trading language.
Because of my nature I feel more attracted to programming trading tools than for trading itself (I will elaborate on this idea in later posts) but I admit an increasing interest in learning more indicators and strategies. My field is swing trading and automated strategies.
My investing philosophy until now has mostly been that of a value investor - look for undervalued companies, buy them, and wait for the market to realize its mistake. I've done pretty well at this.
But I've been impressed by the irrationality in the market. I'll buy a security that's heavily discounted from the value DCF analysis would give it (for instance), then some of the time the already "cheap" price will drop precipitously, so I'll buy some more. Then it will trend down, and that little voice will say "the market is sooooo overly pessimistic here," I'll buy a bunch of calls, and in the end those options will be sold for 2-8x what I paid for them. Or a company will report bad news (Tempurpedic, HP), the stock price will tank, and that little voice will tell me this is overdone, and there's a bounce coming, and I'll make money on the trade.
Tax rates on short term gains suck, but I'm really impressed by how wrong the market can be. Which got me looking more, which eventually ended up with me reading a bunch about market sentiment and its corollary - trading.