I have been interested in trading stocks in Australia from 1999 and then in 2007/8 was convinced by a successful trading friend that FOREX would be better.
Since 2012 when I have been really getting into it more I have enjoyed several only short lived successful trading periods from 1-3 months where I make some money and then donate to the market again- annoying but I'll get there. It invariably has to do with overleveraging in the end after having a period of sometimes 10 folding the account- so others, don't do that- it may work for a limited period, but not once your account grows- does something funny to the brain- mine anyway.
And once you are aware what's happening, it's interesting to see how the big banks try to rip the little ones off.
Good luck everyone and hoping for consistent results for the rest of 2014 and a healthy smart start to 2015.
I jumped in the cold water of trading last April and managed to blow up my account so I have taken a step back and am trying to learn to trade the right way. After looking at some of the videos on futures.io (formerly BMT), I am excited to be part of this forum and look forward to learning. I am currently paper trading the DAX futures. I am using TradeStation for charting and analytics and my brokerage and data is through IB.
I wish everyone good luck for the remainder of 2014.
Last edited by JohnS; November 10th, 2014 at 10:37 AM.
I stumbled on this site while searching for reviews of AceTrade. The reviews I read here were well-thought out and informative, and gave me a good sense of how your members interact (and, confirming my own observations, that I should skip AceTrade)
Given that positive experience, I decided to join up. I retired three years ago and after spending the first two years on an ambitious remodel of our retirement home and moving into it, I now find that I need more intellectual stimulation. We live on a beautiful lake but staring at the ducks all day just doesn't cut it. Wife is working six more years so I'm faced with either going back to work or finding some other intellectual challenge so my brain doesn't atrophy completely.
So I'm getting more serious about trading. I have several self-manged IRA's (mine and the wife's) and currently follow some portfolios (Gorilla Trades and AAII). But I want to branch out a bit more into some more active trading, probably in the Futures market. I'll be looking on this site for educational and peer-to-peer support in this area so I can develop my talents and at some point pass that on to others.
Looking forward to getting to know you all! Please don't be bashful about replying with advice about how you have started out with Futures!
Greetings! Long time ES trader here, but just getting back into trading after a 2 year hiatus. Only recently learned about this site and it led me to TST, where I'm on my 3rd combine now. Scratched the first one and almost earned a rollover on the second. About half done with the 3rd and it's going much better. As for futures.io (formerly BMT), I'm not much of a system or mechanical trader, so I tend to focus on the Psychology section. Hopefully I can contribute something and learn from all of you!
Hello everyone, excited to be here as I've heard so much about this site
Been trading actively for 15 years, but have very limited programming skills so I hope to learn much
Consider myself as advanced trader, but seem to be better at teaching trading sometimes rather than trading itself
I love to trade, addicted you might say
Like you Mike I have not felt at home anywhere. Found this forum while googling for research on yet another room I recently came across. Been trading for nearly 30 years and am now full time, Mastery or bust is my motto.
I am relatively new to futures trading which is where my current and primary interest lies. I spent several years trading stocks but also dabbled with options, both with limited success (i.e. I didn't get rich from it). I never considered day trading futures until about two years ago, partly because it I had no free time during the day, partly because everything I heard about day trading was that it was dangerous--yes, you could make money fast, but lose it even faster. But then circumstances changed to where I had some free time during the day, and so I began to take a stab at it. I love a good challenge and am fascinated by the potential that day trading futures offers, and so, almost to the point of obsession, I spent hours upon hours upon hours studying the "art" of trading futures, studying instruments, charts, indicators, etc., as well as subscribing to a couple of different educational programs/trading rooms. I was even able to set up an auto trading system with Sierra Chart before I ever took my first live trade. In fact, my very first live trade was with the auto trade system. Amazingly, I made just shy of $1000 on my first trade (on CL), which, made me ecstatic to say the least. But, I now understand that that was just a "luck of the draw". Back testing had shown the system to be very profitable, but what I didn't take into consideration was the dynamic nature of indicators in a live market, which, in a back testing environment were static (at least they are with Sierra Chart). Basing my trade decisions on that static information gave me a false sense of profitability, and, unfortunately, subsequent trades did not fair so well. I continue to learn, but often find myself having a difficult time pulling the trigger. I've lost enough to know the pain of it, and need to find a way to counter my current lack of confidence. I am hoping I can learn from others' experience and get to a point of great consistency in winning, to the point where I can eventually day trade full time.