I'm preparing for a lifestyle change (upgrade) including employment, which will revolve around day trading the ES. Have worked in financial services industry for fifteen years, mostly in IT... earned little if any respect from the men who sign the paychecks and now realize I need to give myself a raise if they won't. Some experience with options and stocks but none with futures. Studying ninjatrader interface and researching charting options. Read a quote somewhere (maybe on this site) that my biggest draw-down is probably ahead of me. That's a sobering possibility that I MUST prepare for. Also know there's a lot to learn from those who have been there, done that (and still do every day). So thanks BigMike and everyone for making a new guy feel welcome.
I am new elite member here at futures.io. I have been trading futures for two weeks and I am really happy with my results. Even I am planning to leave my current job to dedicate full time to futures trading.
I am glad to find this kind of web portals to share experiences and tools to make more profit.
i'm new member here like you can see
I'm french speaking, so i'm not against to meet others french people
i traded forex during several years, until to understand now it wasn't the right market to trade with the greats tools...
So i decided to start the future market and to register here in a great community relating at this market
A trading friend told me about Big Mikes in 2013, so I registered then but I have remained focused on trading via Skype with several other CCI devotees including Zango (Joe S.) whom I am fortunate to call my mentor.
I had begun my trading using Ninja Trader in it's nascent days when developer Ray D. would be on live-chat with us fielding questions and taking suggestions. Later, as a member and moderator of Woodie's CCI Club, a free emini chat room, I learned how to trade profitably using the CCI indicator. I left Woodie's in 2010(?) after it changed to a paid room selling merchandise and a changing array of subscriptions.
Currently I trade ES and NQ. I enjoy my Skype trading friends, and I look forward to connecting with other traders on futures.io.
IMO trading is more mental than technical. It is you (me), not the system, that determines success.
I should make it known right off the bat that I have never traded a future in my life. My only experience is with stocks and ETF's. Not only am I new to trading but I am new to forums as well. I've only briefly glossed over some of the posts in this forum but the similarities between the trading strategies of futures and stocks seem to be very comparable.
I was an avid gamer in my teenage/early-20s and I was in many clans that employed forums but my immersion never allowed me to familiarize myself with the nuances of the user-interface. Please forgive any newbie mistakes I may commit (such as the location of this introductory post). I.E., don't expect any fancy signatures anytime soon.
My studies in college focused primarily on Economics and Psychology, both of which I have found to be useful in my newly born trading career. I have not read many books for my field but the few I have delved into have been immensely helpful: Reminisces of a Stock Operator and Market Wizards, to name a few.
I was hired as a Prop trader in 2015 and I am currently studying to pass my licensing exams so I can continue to trade. Regulators have cracked down recently so it is crucial that I pass my exam and thus bask in the volatility our market is currently experiencing.
The analysis that we employ at our firm is purely technical. We are interested in volume and liquidity, tight spreads and we rely heavily on thick Level II's, Time & Sales, and obviously 1-5 minute candlestick charts. (A year ago if I were to read "tight spreads and thick level 2's", I would have had my mind in the gutter!)
I have been trading now for some months, which allows me to relate to the technical and psychological aspects of trading. I can attest that employing the same strategy throughout the trade (pre-entry and post-entry) has been my most difficult challenge and is the one I am most diligently working to develop as a trader. Too often I enter with a good setup, only to cover too quickly and not allow the trade to develop.
As far as my preferred stocks and ETF's to trade, I really enjoy momentum trading and SSR (restricted) stocks. Ideally, I would like to be able to trade 2-3 stocks at the same time. A perfect example that pertains to our current market is having an intra-day portfolio of the XLE ETF and also an additional two oil/energy stocks that are in play/have good setups (such as SUNE, SWN, ETE, KMI, WLL, WMB to name a few). The idea behind this strategy is to essentially have your finger on the pulse (XLE) and be able to see some micro-trends as they develop and factor that into a more general macro-strategy for the day depending on the relative strength of the stocks in that sector. I find it very useful to also have the SPDR S&P 500 ETF (SPY) on my screen to have a general sense of the market direction (this is common practice at our firm).
I was only briefly able to employ this strategy before I had my privileges revoked and I was forced to begin studying, but I am interested in journaling, sharing my experiences, as well as reading the journals of some other members in this forum so that we may all grow together.
I plan on starting my journal sometime in February and I look forward to sharing my setups and experiences with the lot of you.
P.S. Just a brief note on SSR, also known as the "alternative uptick rule". We can debate the merits of the 2010 SSR law that was enacted to prevent short selling on the bid, but (whether or not one has access to dark pool liquidity) there is significant opportunity to reap profits by simply playing the long "pops" of these stocks and taking advantage of everyone's covering and stop hitting. I'm relatively new, but I surmise one can make a living simply off "playing the pops" in SSR stocks, given one has the adequate connection to market data; i.e., can read quotes/prints on the L2/T&S and time their longs correctly.
Last edited by Omnitech; January 20th, 2016 at 12:22 PM.
Sorry for my late introduction.
I'm a trader based in India. I came across this Forum from one of your seminar video posted on Youtube.
My trading interests are Day trading Nifty Futures and swing trading in Indian stocks and US stocks, ETFs.
This Forum looks very interesting and I look forward to learn further from here.