I used to dabble with stocks and options some years ago. I got burned and so I decided to come back when I had more time to learn the ropes. Now I'm back. I work evenings, so I thought why not get into trading again. I love the leverage you can get with options so this has become my focus. I have concentrated on simple option plays (gotta be good at something basic before moving on). Seems my better days are when I use price levels (where bottoms and tops converge over days and weeks) as my ally. I'm not sure how much I can divulge on here so I'll save it for the forum.
So although I am in awe at the scripts I've seen in this forum, I am patiently looking for a script that plots levels at clusters of 3 or more price touches. From what I've learned, some people call that a confluence. Well, I can't post links yet, but if you google, "price support resistance for Amibroker (AFL)", you'll see the kind of levels I'm referring to. And I've googled for days and can't find a version for thinkscript.
Anyway, in addition to TOS, I'm currently signing up with Interactive Broker. So if anyone wants to chat about technicals or the market drop me a line.
I have been a very occasional user of the forum in the past and have always found very useful and practical information. I have recently started to use Ninjatrader as a platform as well as backtesting on Tradestation so really appreciate the resources (indicators and webinars) but more than that the collective wisdom of the forum.
I'm a futures broker, and hopeful trader. I've had some success, and some failure. I find this forum of vetting ideas most hopeful. I try to pass along my risk management ideas and helpful tips to keep my clients from doing foolish things. It doesn't always sink in quickly, to them OR ME!
1996 was my break through year for trading.
NASD $COMP drooped 20% from May 1260 -> 1050 and recovered to parity in OCT
It scared a lot of people, very similar to the last 6 months. Highest highs, fear, DESPARATION
Oh yea, scored a doubling 16K toy account in 5 wks by watching some really terrible but motivated news / SOES bandits who I escaped from by getting fascinated in the retracement WAVES in the market and finding liquid vehicles that delivered on average 1.5% daily surfing the waves.
I've recently re-evaluated my LIFE-STRATEGY as I've been reminded how short the good years in life are.
It's scary to watch your parents, peers and mentors loose all their mojo, their minds and die.
To that end, I committed a lot of JAN/FEB 2015 to rebuilding my futures skills to aggressively trade 5%
of my capital and create a formal plan for not wasting opportunities on the other 95%. My target is retire early without fear of gaps except medical insurance.
It's been a good 60 days to trade ES/CL, I've re-learned so much and know I've only got 1% skills under my belt.
Looking back, the volatility collapse that all the traders have complained about is normal and learning to trade these have been just as benifitial
I look forward to 10 next ideas, the discussions, 10 kicks in the pants to code the solution to what's pissing me off
and 2 great new friends that i'll meet
IM me if there are threads on capital management or sector discovery threads
Although I've been trading since the 1990's I still consider myself a beginner. I have had some successes and some failures but haven't become consistent enough to generate the income I would like to have. When I can pull living expenses out every month I'll consider myself intermediate and an expert if I ever have "f u money", from a movie I recently watched.
I use to work for a large computer company, because it wasn't hitting its expected quarterly results and I was nearing retirement age, we parted company. Now that I'm able to watch the markets all day I'm finding doing credit spreads 45 days out is not engaging enough and doesn't generate the income I need. I'm hoping, with help from Big Mike and members of this form that I'll be able to find that strategy that will get me the "f u money".
Because I reside in Canada and use the TOS platform I'm only able to trade stocks and options, no futures, but on the plus side day trading rules don't apply. I welcome all the help I can get and if I can ever assist anyone I would gladly do so.
Thanks and good trading to all.
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