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Hello All,
Yup, I am a newbie. Yup, I'm stubborn and trying to learn this the hard way on my own. My only saving grace is that I am too cheap to loose very much real $ before sending myself back to the simulator for remedial torture. I'm betting there are a few of you out there that can relate.
Futures have been driving me nuts. Started in mid February, beginners luck, the ES was making some good moves, so I guess even a newbie can earn a few points in that market. It wasn't long before the markets changed and my not so well educated strategy wouldn't adapt. Backed off for a while, dusted myself off, restricted myself to the sim and it doesn't look like I'm going back to my live account anytime soon.
I have had better luck paper trading equities but I am trying to learn futures cause I don't have the $25K to open a PDT account. Yeah, just look at all of the folks out there that want to teach me the "right way" to trade and they only want is a stack of $$$ and my first born baby boy!
That's the whole deal in a nutshell.
Any reasonable advise greatly appreciated!
Later,
Capt Mike
Can you help answer these questions from other members on NexusFi?
- thanks for the reply friend.
I am getting the move next day but a failure in capturing that move for my profit. Can you mentor me on my entry strategy.
Or how can i develop a new one.
_thanks ,have a good day
you are 20 Years Old (Correct me if I am wrong), I would say give more time to learning and less time to trading. this is not the age to spend 8-10 Hrs in front of computer only. Although I have not much idea abt how big is your a/c size, but still tells you to find alternate route of earning first. rather than earning money your preference should be consistency at any cost in trading. Regarding Mentoring, sure I am open for that do let me know how to proceed. As I already told you, I am based in Ahmadabad you in Beautiful place name Dharmshala. I have been there 3 years back.loved para gliding very much
himanshuthakur11
dharamshala Himachal pradesh/India
Posts: 10 since Jun 2017
Thanks Given: 0
Thanks Received: 6
Thanks a lot for the reply.
I am glad you had a good time here in Dharamshala.
And I really appreciate your wise words of guidance.
Can you suggest some mean of communication where I can continue my apprenticeship with you like email or something or is it okay here only. Im good with any.
I am a 26 year old man living in Tennessee who is trying to learn all he can about trading the S&P 500 Emini and get a funded account through TopStep Trader. I currently work nights in a prison which isn't fun but it does allow me to read all I can at night, as long as it is a physical book or on a website that is not blocked by the online filter at work. The job provides steady pay and benefits while I attempt to gain the skills to do something else with my life. It also means I can trade the morning/early afternoon before leaving for work at 2:30 PM.
If you are not familiar with it, get a book(s) on market profile/volume profile. Maybe some other folks here on the forum can chime in on what books to buy. It will help your analysis/looking at the market contextually. If you buy into volume profile, FuturesTraders71 is "the man"; he is very generous with his time and his give back to the community is impressive. He is looking out for the newbie and struggling trader for sure. Check him out. Good luck -FT
So far I have read Trading with Market profile by Steidlmayer, Mind over Markets and Markets in Profile by James Dalton.
Those books have been and incredible help in trying to understand what is happening and I have recently subscribed to the TAS Boxes indicator. From what I've been told the next good step for me is to get a good cumulative delta indicator and research how to use that a bit more.
I'm sure there's links to both on this site somewhere. I just joined today and haven't had much of a chance to explore yet.
I've seen some of FuturesTraders71's stuff with TopStep and his interview with Chat With Traders. He seems like a good dude so it's great to hear some confirmation on that. I'll look at some of his forum contributions later as well. I have a to do list of things to study on this site.
I started trading years ago, tinkering with demo accounts. I think they are a good way to learn without losing any real money. I saw trading more as a hobby, and never thought to get this far.
Over time, I realised that I had built up a body of knowledge about the markets, that I was gaining confidence, and making better trades.
I then realised two more things: firstly, I had (unwittingly) developed an unwritten strategy that was a kind of "cherry picking" high-probability trades for scalping breakouts in trending markets. By that I mean, I was following the trend, and taking breakouts (after pull-backs) in the direction of the trend. I think it was a similar strategy to what is called the Ross Hook, as developed by Joe Ross. I generally started making (virtual) money, even if I only held the trade for a short while, and was cautiously scalping what often could have been very good longer-term trades.
Secondly, I found keeping a journal very helpful. It was a way of consolidating my knowledge into a kind of tangible format. If you don't have time to keep a journal, at least keep screenshots of your trades so you have some record that you can analyse later.
