Hi All - glad to be part of this community. Look forward to learning from the experienced folks & contributing back in time ... I am a TOS user with intermediate investing experience in Stocks/Equities.
I am learning to get on the trading side and hence educating myself on Options/Futures but am most interesting in automated trading strategies. I plan to do this in ToS for now but any recommendations on how to get beyond dipping toes & making it happen as efficiently as possible would be extremely welcome & highly appreciated ...
Cheers folks! Looking forward to loads of learning ...
I am a part time trader, trading on and off for the last 5 years. I am excited to become a part of this forum, and I look forward to offering some of my pain points and learning lessons throughout the years.
Hello to all. Thanks to Big Mike for the forum and to everyone who takes the time to share their knowledge. I am new to trading, have been taking small trades in the es for about a year. It's not clicking for me yet but I feel I am close. So I've just been doing some light sparring with it, trying different strategies to see what works for me. I can afford to get knocked down a few times but I can't get knocked out. Still probing. Want to step in the ring soon, though.
Thanks and good luck to everyone,
Well where do I start? I guess how I got into trading, and many of you seasoned veterans will have a good laugh at my expense! Thankfully I have a sense of humor myself or I would curl up in a corner, suck my thumb and cry for mommy!
My journey actually began just this year, but before I go there, I had a friend that had tried to introduce me to trading for the past 3 years. Naturally I was skeptical because I saw all the things I thought he was doing wrong, ie over trading, not following his own rules etc. How naive I was to think that I knew better than him about trading and being disciplined!
Fast forward to 2014, I was on Fakebook, otherwise known as Facebook, and was chatting with a friend about business. She mentioned that a mutual friend was "killing it trading". Naturally my curiosity was peaked. So I contacted said friend and he told me what he was doing. Let's just say it's akin to gambling, had I known then what I know now, I would have been better off going to a casino here in Oklahoma and playing Russian Roulette!
It was BINARY OPTIONS!!!!! Well let me be the first to say what many of you already know, Binary Options is not real trading by a mile. Oh there are ways to make money, and to use "strategies" but really you are taking an uneducated guess as to which way the market is going to move. Least of all, there is no real major opportunity to make unlimited profit either.
So here is how I started, wow this could end up being a long post! So after this guy explained what he was doing, basically trading with a Foreign Broker (should have been red flag #1 because they are ALL unregulated in the US, which I didn't know at the time!), he got me into a group on Facebook.
now this group was made up of desperate people, tired of the MLM life, tired of whatever, and looking to "Get RICH QUICKER THAN A SNOWBALL MELTING IN HELL!" at any rate I enthusiastically joined, heck at one time I was the group's biggest cheerleader! Well let's just say about $1500 later, I finally woke up and realized none of these people had a clue about trading.
Several groups later, oh yes! you had people popping out of the woodwork proclaiming themselves to be the king of trading, especially binaries. Everyone had a strategy, everyone had the "holy grail", everyone had the key! Well another $2k later, I finally got rid of the fog surrounding my brain and came to my senses!
Believe me when I tell you, this is the condensed version! However I will say this, it was one helluva ridebut one I wouldn't trade for anything because it taught me some valuable lessons about trading and making money in general!
I have always been an information hog/junkie, so I started researching actual trading, talking with my friend who had been trying to get me to trade for the past 3 years. Now after much research, much money lost (about $6K so far this year alone), and many tears in warm beer, and sleepless nights, I am ready to become a real trader.
I see the potential, but I also recognize the work, the hard work actual professional traders put into their craft!
So I had a come to Jesus meeting with myself and decided to become dedicated to this craft. I have a goal to have the choice to walk away from my regular gig soon, and I want to use trading to do that.
Well I could go on but I think you get the idea. So if I ask what seems like a dumb question, or make what seems to be a random post/comment, just know I'm still fresh and wet behind the ears, with the enthusiasm of a hyper puppy with a new chew toy, so be kind and more importantly: !!!!
thanks in advance to Big Mike for creating this forum and site! Thanks to anyone with a good sense of humor who can laugh with me, not at me, and to anyone else who in the future will probably be the one behind the computer shaking their head but will help anyway with my questions!
The following user says Thank You to binarylonewolf for this post:
Hello all! I traded options a few years ago and made enough to break even. Although I learned a lot from trading options, it proved to be a bit more stress than I can handle. About a month ago, my office mate showed me what he was doing with the S&P 500 e-mini. It seems a lot simpler and also less stressful compared to options so I thought I'd give it another shot. I'm in the process of funding my account with NT. Let the fun begin :-)
The following user says Thank You to Couchtrader for this post: