Uh, trading or as my bride calls it "Gambling" for over 15 years - man how sad is that!?.
And as Mike stated, lost more money to make grown men weep (incessantly). Been through it all; Wade Cook, Investools, Online Trading Academy (scalping), AJ Brown (Options) TCI (eminis), TradeEmpowered (Forex/Ratios), GMT Futures (Automated Strategies), Ichimoku, PA trading (I'm new to that) and the beat goes on...Know pretty much every technical indicator on the planet and most are garbage. So here I is. Sadly enough I can list all of my steps and still PUSH onward because either I'm too naive or stubborn to EVER give up on my dream of being a "profitable trader".
BTW, what did I read today here at Big Mike's - well, read up on Alla Peters (alphawavetrader) BTW, her fibs are simply "projections" of 200% (Decision point 1) , 261.8 (DP2) , 361.8 (Reversal1), 461.8 (Reversal2) and 561.8 (Reversal3). and of course reading about ACE Trades, DayTradingAcademy (Marcello) and on and on...guess what? They probably all work for SOMEONE - the battle (as been for me) is to find something that works and resonates for YOU.
That being said...I'm looking for some solid Price Action threads (methods) that are sound. I AM a very visual person and I can see the markets way more clearly without all the gobbledy-goop ("Indicators") clouding my vision.
DONE with all the garbage and squiggly lines...I want to trade with composure, vision and common sense.
I have been an Electronics/RF Systems engineer for almost 15 years now and am looking for a change. I am not certain where I came across Trading as a point of interest but it stuck with me somewhere along my travels of the internet recently.
That being said, I am as green as you can get for now so I look forward to learning from you all and being able to contribute soon.
I'm a Swede living in Portugal as a semi retired. Want to use my a minor part of my pension capital to trade. Have studied a lot of books and sites. O'm at present participating in the Swedish Turtle project 2015 for swing trading.
Now I'm searching for my first solid trading system for day trading. I have open an account with Ninjatrader brokerage and is just starting to trade the ES-mini S&P 500.
I'm not doing so well just now, so joining Big Mike´s Trading Forum is a step on the way to persistent profits.
Like so many of you have said in the past, it is great to find a gathering place where there is passion for trading. Thank you Big Mike for creating this site. It is rare that you can talk to all of friends about this topic without their eyes glazing over.
I have been involved in the market since the late 80s, mostly mid and longer term stocks. I have always made an effort to understand my competition and the source of their motivation. Jeremy Granthem once said "The biggest risk on Wall Street is career risk" and "Never be wrong alone". Relative performance is key. Marc Chaikin (Chaikin Analytics, great stuff) said in a webinar that the wife of a friend of his is a fund manager, and the biggest bonus she ever received was in 2008 when she was down 18%.
My goal is to gain more knowledge on futures trading. I want to learn the world of the institutional trader, understand their time frames, and their motivation. I believe that one way this can be seen is with order flow analysis, and I plan to spend time learning all I can.
Thanks for the opportunity to share this information with a group that may actually want to hear it.
I have never done anything related to the stock market, until last week I had a friend show me a few things in his TD account. got me interested, started researching the web the last 4-5 days (non stop). Anyway I have decided to start out with the E-mini S&P.
I'm reading macks manual and I have signed up with the Day trading academy (money already spent so save the criticisms)
I needed some information and after visiting Investopedia i went with them.
anyway, I'm open minded and will take and listen to anyone giving advise. I live in the North Dallas area and would love to meet up with anyone who is a beginner or advanced.
I have been actively trading and investing for 14+ years. Like most I spent several years jumping from strategy to strategy and indicator to indicator. After those common pitfalls played out, I have anchored to some strategies that work for me. I am quantitative and systematic in my trading; however I evaluate both value (just for equities) and technical price information. If I had to recommend trading books to new investors, I would recommend: How To Make Money In Stocks (William O'Neil) and The Little Book That Beat the Market (Joel Greenblatt), and all of the Market Wizard Books (Jack Schwager).
I have traditionally traded on Systematic & Discretionary basis, but I am looking to go Systematic & fully Automated in the next year ... at least for futures trading. I trade daily bars looking for the bigger market moves.
Current Brokers (and reason):
- TradeStation / equities & futures (been there a while and good for strategy development, not sold on execution);
- Interactive Brokers / equities & futures (somewhat new to platform, but I am impressed! Trade execution, price and markets available to trade are great. Not a place to develop or test strategies. You trade equities and futures from same account, big plus if you trade futures at low margin/equity ratios);
- Merrill Edge / equities (If you qualify for the Merrill-Edge programs that allow 50-100 free trades per month ... why would you not execute your first 50-100 trades per month there? In full disclosure, I don't ever exceed the free trades per month with my strategy I am using with my account.)
- Motif Investing / equities (I have a momentum quant strategy that requires a re-balance every two weeks. Motif only charges $9-10 for rebalancing an entire portfolio. The same basket order would cost me >$100 at a discount broker using a basket order. I am starting warm-up to Motif's interface and portfolio tracking software, but the site is a pretty bare bones for the hard core quant.)
- TD-Think or Swim / futures (I am comfortable trading futures using discretionary methods at TD. I really like their conditional order types. However, my automation needs will probably require me to move assets away from TD in the future.)
I live in KC (do you?). 37 years old. I am an engineer and attorney by education. I work full-time in a non-trading job, but I would like to transition to a trading or money management career at some point in the future.
As mentioned above, I am looking to go fully automated in the next year. Not sure, if TradeStation is the right place for me after seeing some of the order execution tools at IB. I am going to be analyzing platform options over the next few months before rollout. Currently, my strategies are coded in EL.
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