"3. Consciously competent. If you haven't given up by now. You have started to gain experience. You can read the markets and feel the pulse. You're discovering that there are more advanced things that you can use;Indicators. But unfortunately you still lose money."
I haven't blown up my account yet, but I am also not gaining the ground I want to either.
Last year, I was an IT Manager at a major university. I "found" the stock market for the first time last year and realized the huge potential here. I made some major mistakes and lost some significant amounts of money, but I knew that I needed to devote myself to this full-time or I was not going to be able to be successful. I left my job and jumped in with both feet. Fortunately, I have found friends who have helped me make some money, but I still have not learned to trade with great success on my own. I am practicing with a SIM and am looking everywhere I can for more information to help myself improve.
I found this forum within the last two weeks and am now going to see what I can learn here. I want to learn more about the tools that are available for trading (e.g. - NeoTicker, NinjaTrader, Sierra Charts, etc.) and how those can help me. I want to learn how to correctly read the charts and trade. I am attempting to learn to trade FAS/FAZ successfully. I am getting fed up already with indicators as they fail so often that it isn't funny. I am interested in Automated Trading Systems (began to see the potential there while trialing NeoTicker).
I am not going to give up unless I am forced to by running out of money. I really want to be successful at this, but like many others have said, it is hard to find someone who really knows what they are doing and who is successful to share how they do it. I would really like to find a mentor who can teach me how to be successful at this.
The following user says Thank You to richw for this post:
Hello and thank you for the chance to be part of this forum!
I have been paper trading for about 5 years, practicing with emini futures on US equity index contracts.
A lot of time has gone into testing different tools.
Also I have done some custom programming but I try to keep it simple and minimal.
Over the past few years, I have taught myself about momentum trading, Elliott Wave, and Gann timing, but I have been keeping my eye on ways to measure volume as well. My research into cumulative delta started about 2 years ago.
I discovered the contributions of "Gomi" on NinjaTrader forum back then.
Today I learned about his recent volume ladder, and it seems that it is here somewhere.
It seems that this forum has a lot of good sense.
The following user says Thank You to khmodel for this post:
My name is John and I have been trading for the last 5 years on and off. Mainly the E minis and Forex. I have a stock portfolio as well. I have Spent plenty of money ($20,000 +) on training courses and live trading rooms. Like many of you I have gone through my share of accounts ($100,000 +). All I can say is that every account that I blew up was a lesson learned. Piece of advice, never trade without stops and stick to a trading plan.
I have come to like the E minis more than forex. I came up with a trading plan that works for me. I review my trading plan every morning before I start trading. I am doing so much better now that I understand the market and abide by my rules. My goal ultimately is to start a live trading room that is different than what is available today.
The following user says Thank You to jfrenzley for this post:
Im a new member joined here for improving skills. im trading in forex for past 3 months But i traded stocks for 2 yrs. I want to masterise the trading skill. I need to feed the things in subconscious mind. I hope you would help me out
my name is Ron and i am a total noob and not afraid to admit it! as with many of you, i'm sure, the idea of day trading has peeked my curiosity. hopefully with time and much lurking of this site, i can gain knowledge and maybe even a little $$$!!!