I've been trading for about 8 months. It took me at least 200 hours to "learn" and get started. I trade options. Mostly defined risk credit spreads with APPL, SPY, IWM, and DIA. I use TOS as a platform. I've been following TastyTrade pretty much on a daily basis. Hardest thing for me is the trading "language" and not having anyone to chat with regarding trading.
I live in Vancouver BC, work from home, have traded sim and real $ on and off for 7-ish years.
My immediate concern is finding a tactic that allows me to watch two markets on my monitors for 2 hours without either falling asleep or going squirrely. I seem to be constantly taking a break at the wrong time and missing the big moves these days.
Does anybody have a system for being able to stay in their seat for 2 hours watching the paint dry?
Hi - name Phil an older generation than most of you but really enjoy your forums,
Anyway I am happy to join in with anything that I believe to be of importance.
Thanks to Mike for building as it appears to be a good community of focused people .
I am from Toronto, Canada and have been on futures.io (formerly BMT) for almost 65 days and finally decided to start exploring the site. I have been learning/trading for almost a year now, so i guess you can say i am still new to this. I had previously invested in the stock market ( penny stocks, individual blue chip stocks). Someone i know introduced me to Forex back in 2014 and ever since been learning everything about technical analysis. In the process of learning Forex, I had opened up a $2k account at a brokerage which ended up getting deregulated and had lost the account with the money ( wasn't really fun). That gave me sometime to explore around other markets as I saved up to raise capital for an account at a decent brokerage. I have been following the indices (CFDs), oil, gold, a few commodities such as wheat, corn, etc. a long with FX.
Now that I have gone through a few books based on CMT courses, and past 1 year experience, I would like to get active and learn from others and give my input where needed .
My reason for joining futures.io (formerly BMT) was to get to know other traders, and learn from other members about what trading is, and things that as a novice, i might not understand... I am still figuring out this website, and what it offers. I thought I'd start with an introduction..
Happy trading !
The following user says Thank You to tjameel for this post:
Hi all, new member. Haven't been part of a trading forum since the late 90's, finally made the plunge.
I have 2 jobs, full time IT management & Option trader. I spend about 4 to 5 hours a day in trading. All Option trades are performed during market hours, based on the alerts that i implement during the evening hours. There are times that i miss good opportunities when tied up with clients or meetings
I've been trading for the past 18+ years, Stocks & Options...for the past few years, it's been 100% Options. Generally sticking with Index & volatile internet companies.
Looking to leave my FT job, and become a FT day trader, in the very near future. Looking to accomplish my objectives before jumping ship. Have a couple of young children, need to be extremely cautious and ready, before i resign from an extremely stressful position, to jump into another extremely stressful position...difference being, no clients, and my own business.
Interested in learning new instruments, e.g. ES mini., etc. As well as to meet full time day traders.
Been hanging around for about two weeks now; thought I'd better introduce myself.
I'm not new to trading, but I've been "out" for almost 30 years; ready to get back in.
I fell victim to beginners luck at the beginning, tripled my futures account trading the S&P's in less than two weeks, then had my head handed to me as I slowly lost most of it back over the next two months. When the account hit $2K, I quit.
I'm currently demoing MultiCharts and am a huge fan of EasyLanguage. Haven't decided between TradeStation or MultiCharts, though it seems like I might not do enough trades/month to avoid the $100/month fee from TS; MC lifetime purchase might be a better deal after about 15 months; not sure yet. Opinions?
I'm an admirer of John Ehler's work, but not sure I want to buy MESA Phasor (daily) or MESA Intraday. The website shows how profitable they both have been, but I'm wondering why slippage and commissions weren't accounted for in backtesting. Anyone have any experience with either of these two programs? PM me if you like.
Currently testing my EasyLanguage Strategy/Study writing ability and just for grins wrote a simple channel breakout in MC that only takes daily breakouts in the direction of a weekly trend. Funny thing, it's very profitable when optimized. Now before you all start scolding me for curve-fitting, please let me know if I did this right. Since I don't have a data feed account yet, I used the S&P 500 index (^QSPC) from FreeQuotes through Yahoo, assigned a 50 Big Point Value to it to simulate the ES Mini and threw in $25 slippage/trade. There are only three parameters - a weekly value for trend, a daily channel length value and a stoploss value. It's most profitable with a stoploss of $50! So it loses around $100/trade over 60% of the time, but beautifully stays in trades that have some oomph at the get-go. I did a Walk Forward optimization by using 1500 bars with 1000 in sample, 500 out of sample. Profit Factor was over 4.5 out of sample.
What am I missing, or doing wrong? The $50 stoploss is suspect to me. Not sure if it's realistic to be testing something with that tight of a stop using daily bars - probably need to get hold of some ES Mini continuous tick data somewhere, maybe 7-10 years worth? Is that what Bar Magnifier does?
Maybe that was too much for introducing myself. . .
When I opened my Tradestation account, I got a deal for lifetime free platform, if I maintain 5K account balance. I never paid the $99 platform fee. It wont hurt to ask the sales rep regarding any deals they might have.
The following user says Thank You to rahulgopi for this post:
Not really good in all of this. Was looking for tips on how to do online trading and i ended up on this website. Hopefully this site is user friendly. I may need some translations every now and then to fully understand the trading lingo. Thanks for accepting me here.