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I am a struggling trader with over three years of bad as well as good experiences. I have found this forum to be a valuable asset to improve my trading abilities. Thanks to Big Mike for this platform!
Thanks & regards,
Nam
Can you help answer these questions from other members on NexusFi?
I was born in Prague, Czech Republic. Last 15 Years i work and live in Germany.
My trading experience was last years Forex and some CFD´s ..
Now I will learn to trade Futures so I find Mike and this great Forum.
Thx for it , is really nice resource for every trader..
I began my quest to full time trading over two years ago. I didn't start with futures, though gradually began gravitating towards them as I realized my desired strategy was more in tune with the scalping types many futures traders use. I chose, before even beginning to sim trade, to research for hours on end what the world of futures was all about. This led me to many different traders, of all different mentalities. Going through it all I began to realize how daunting a task it was really going to be to truly become successful at trading. So I continued to weed through the plethora (better read as overabundance) of information there is on trading until I came across a man by the name of Gary Norden. He, as well as his book really helped shine a light on the psychology of trading I hadn't seen at first, and may never have if I hadn't come across him. But it's a darn good thing I had especially early on as I now understand how important the proper mindset and skillset is to one's success. Now, I'm hooked and have an absolute passion for trading. And I believe there's probably no better place to revel in madness with fellow futures beasts than right here in Big Mike's sanctuary.
I work at a software company, have a Math degree and have always enjoyed reading about investing.
While on paternity leave last year I bought a couple books on chart patterns (Bulkowski) and trading (Marcel Link) which opened my eyes to the world of technical analysis. It was fascinating… I’ve since read Pring and Murphy. My first trade using my newly learned TA skills was of the Chemours Company (CC), where due to an incorrectly placed stop I was stopped out on a minor retracement before the stock took of on an almost non-stop run to ~350% where I had entered entered. I’ve enjoyed having that to look back on as a very cheap and early lesson about stops. If my first trade were to have been a large gain, I figure that would have filled me with a false sense of confidence - how messed up it that
Fast forward to a couple months ago… I opened an IB account and started to day trade the SPY in blocks of 100 shares. My technique is primarily looking for overbought or oversold conditions using stochastics to line up across three timeframes - 1, 5 and 15-minutes. e.g., Look for them to be oversold across all timeframes, and enter as the 5-minute stochastics are turning around. Exits aren’t set by ticks, but rather as the stochastics start to swing back in the other direction. e.g., reached oversold, and then start turning downward. Occasionally I trade a very obvious pattern, like H&S or very clean flags.
Choosing to day trade the SPY was driven by a couple factors: 1) Desire to really familiarize myself with a single market. Scanning tons of individual stock charts wasn’t super interesting for some reason, and 2) A desire for faster results while learning. The assumption being that I could learn my system and get comfortable working the 1,5 and 15 minute charts just as well, but faster, than if i were taking the same approach looking at hourly, daily and weekly bars… I have a good job that I like, so maybe something in between is going to prove better for my lifestyle, but I’m just learning so much right now and excited by it.
My system was mildly profitable over a couple months and I was starting to get more confident with the charts and timing. e.g., entering pattern breakouts using stops for better prices, clearer exit plans. A few things led me to futures though… 1) I wanted to have slightly larger positions - admittedly I could have used the 4x buying power for day trades. With 100 units of SPY commissions end up being a pretty high ratio compared to the P&L, even with IB’s low prices. 2) The opportunity of longer trading days was really appealing. I live on the West Coast, so I am able to follow the markets for a bit in the morning before heading to work, and then during lunch - but that’s about it. I’ve since learned that the volume and swings outside of RTH aren’t really that great so this hypothesis seems to be invalid. 3) I was looking for a second market to trade in that was not strongly correlated to SPY/ES. So the idea of being able to trade something like CL or GC was intriguing.
In the last couple weeks of starting to trade futures I’ve found that I’m still a little uncomfortable with the size/swings of futures contracts (trading a single contract). My first couple trades were back to setting incredibly tight stops, and I took a series of small hits in CL last week for 50 ticks which has been a bit demoralizing… So, back to the grind looking at SPY and ES for a little while…
Looking forward to learning from this group, and hopefully contributing a thing or two...
I am Thiru from India. I have been trading on and off with no real plan or strategy for the past 4 years in the Indian Stock market. Every time I read a book, I take some thing out of it and try trading using the information for some time until I loose enough money to stop trading. With a full time job I have I couldn't focus on learning the skills to become a successful trade. I am taking a step forward now and trying to dedicate time and money to learn to trade successfully in the futures market. I am looking forward to learning form this great forum. Thanks to Mike for this!!
My name is Fran, from Spain and although I have been discharged for several months, it is now when I can devote time to this fantastic forum.
I do not have much experience in futures and basically now I am telling myself to know how they work and fine tuning my system with the simulator, I hope to learn a lot on this site and get to bring something interesting for someone.
My name is Alex, I mostly trade options with good results and now wanted to add day trading futures to complement my portfolio strategy. I have traded futures before, but only as part of my core positions, in terms of day trading futures I am a newbie and know that this forum can greatly improve my learning curve.
I am Himanshu thakur. 20 years old . From India
I've been trading for nearly a year now.
Just completed my graduation in hospitality and hotel administration and now decided to take trading as full time.
I have taken a few courses in relation to trading.
Currently trading in nifty futures.
But have to admit that I have had very little success so far.
I trade along with my brother. We decide strategies and stocks to invest next morning then one stays ready to make entry or exit and other quickly calculates the targets,stop losses etc etc.
A lot of sorting and questions i need to get solved to finally get some consistent profits. Even if it stays low in the beginning.
Glad to join such forum where i can interact with other traders as I cant find much people in my locality.
Hope good for myself here and great for the forum and fellow members.
