Hi! I'm John from Texas. I teach philosophy for a community college in Dallas for a living--which explains why I'd love to be able to make money in the markets to pay my bills. I have been beaten down badly in my first month-and-a-half of trading the emini s&p. After devastating draw-downs, I'm doing what I should have done in the beginning (educate myself). My 2 weeks of successful demo trading have not transferred to live trading!
I've recently read Dalton on Market Profile, and Bo Yoder and Van Tharp on risk management. My previous system was fatally flawed in almost every way it seems. That said, I don't seem to be doing any better now, to tell the truth.
I trade on Ninjatrader 8 and I hope to find some sort of strategy that is tenable long term. I've gained a lot of knowledge and resources from lurking here, but I know now I cannot "beat this system" alone. I may not be able to do it with help either, but I'm getting nowhere but broke by myself. I look forward to learning more here, and I'm glad to be here.
For years I have been satisfied with regular trading, buying and selling shares. After a friend mentioned Futures and Options trading I became intrigued but found it difficult to get comprehensive information. So far this site appears to be the best source of industry info out there. Hoping not to get lost in the details, however details are absolutely what I am looking for before I throw my own money into the mix. Happy to be here and looking forward to all the benefits of membership.
I don't really know how the blog works to answer - but here goes.......
I've read and read all kinds of posts during the first month of SIM trading and found that the system relys on you and you alone. I lost the first 2K $ simply not even knowing that each bid equals profit for the system.
I am now banking on 6 days of plus $ at 125, 150, 200, 100, and today 137.50 (where I used the ATM system with 16 clicks profit and 16 clicks minus and cut it off when I saw that the market was going down up to the worse-case scenario of more than -$200.00) It didn't go lower but I saw it go up to almost the +$200.00 and that is where I ended today.
As I keep reading everywhere - you can buy all the nice little programs to help you - but ultimately YOU are the only one that knows what is going on at the time ! Intuition plays a big part. You have to NOT MIND that you lose some days (especially when it is a DOWN day - as they said on the TV this morning - the S&P was on a down day.
I have made a chart on XL (in Open Office - the FREE program) and use that to keep track of the pluses & minuses.
I have found another that someone on this site has made and it is very different (not knowing how it works - or which one is better).
Experience day-to-day is all that we need - and in keeping control of the inflow/outflow of money so that we take little steps. My first month of trading was really BAD - I made over $1,300. and lost $2,500. (including some of my second $2,000.00) I am now on the plus side of the second 2,000 being at $2,376.00 - with little steps at a time every day.
I am NOT going to give up - I know that it can work (especially now that I know some of how the ATM strategy works in protecting your/my investment.
I found that I printed out the previous years chart (yes, you can go find out how it did) by changing the days in the chart to 425 days back. I found that at 5:00am there was an uptick of 4 or more points (16 ticks) on 82% of the days. I have been using that as a guide at the same time I keep checking to see what it did from opening at 00:00 versus 5:00am which way the trades were going. There is a lot more that I have learned this second month of trading.
I do NOT know how to enter my chart as an attachment on this site to share......
Have fun and take little steps at a time !
The following user says Thank You to manz7 for this post:
Thank you for the reply and the encouragement! I so want to make this work. I'm fairly bright and I feel like I should be able to learn to make money in the market. I overtrade terribly and end up losing way too much. I think your advice is sound. I just need to muster the patience and discipline to take small steps. I like your notes on the ATM strategy and I will definitely look into it--as will I examine the historical data as you suggested. Having been on the losing end for nearly 2 months now, it is truly sink-or-swim time as far as this experiment goes.
I guess I have been lurking long enough. I've been a member for 152 days now, so I guess I should post something in here...LOL.
I have been trading for a few years, full time since February of this year. I trade mainly NQ, YM and occasionally CL and ES.
I try to be very prepared at the beginning of each trading day. I do chart analysis and go over upcoming news announcements before I start my trading day, and I do a chart review at the end of my trading day. At the end of the week I try to review my trades that failed to see where I read the market wrong, and I also try to trade in market replay for 2 to 3 hours on the weekend. I do plan to start a trading journal here on futures.io and welcome any and all critique. My goal is to be the best that I can be.
Hi there traders!
I am spanish and live in Madrid, Spain.
I cannot say I am a trader yet as I am still following the path to consistency, but I am proud to say I am getting there after loosing two acounts and spending a lot of money in tools and automated systems way too early.
It is my inner me and my eye watching the market that will lead me to success.
In fact, nowadays I trade clean, no averages, no indicators, just price and volume.
And I am starting to do well.
I am proud to say that, after all, less than two years ago I have never had the slightest experience with stocks or futures or anything and thought that japanese candlesticks where tiny candles sold in Japan to be offered in the taoist temples or something.
I am at the moment with a TopStepTrader combine trying to meet the goal ...I will tell you how things go.
Thanks for reading and for welcoming me to this forum.
All the best and good trading!