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I've been educating myself (or at least trying to) about trading since 2011. Started reading books then moved on to demo trading with MT4 , mainly spot. Got intrigued and started to pay for education. Spent about 7000 / 8000 USD in 3 or 4 courses over 3 / 4 years. A good half of those were waisted. Moved on to Futures in the hope to stay away from brokers manipulation of prices (triggering stops just before reversing).
Platform wise, after MT4, I got involved with CQG - Qtrader. Massive limitations (one chart at the time to name just one of them) could not afford the higher CQG product (CQG IC) , so in search of alternatives I landed on Sierra charts that has everything I need.
I have a full time job but time and wisdom to dedicate to Futures trading. Have been profitable only few times during my trading "career" but I am not ready to give up yet.
Style wise, I have spent massive resources in Ichimoku but with moderate results. In day futures trading I tend to focus on price action reaching pivot points and relevant S/R's but I am clearly still missing something :-)
My LIVE balance book is in the RED. At the moment on demo. Not sure when I'll feel ok again to go live.
Finding this website was a blessing to say the least. All the years of being "out there" made me immediately understand it's a proper place for traders to be sharing their insights and experiences on the field.
You are in the same path most of the people who try to invest were. It takes time. Sadly, most educational places are not honest. Every indicator works, but markets are different each and every day due to news, etc. Stay focus on learning. A paper account is a great tool with any broker. Some stated as required by law to disclose, that they trade against you. TD Ameritrade is one of them. Now, thanks to you tube, and paper money or demo accounts, you can practice until you get a grip of what is wrong with your strategies. I hope you stay interested in getting better. You will.
If you are really interested in Ichimoku then checkout this website: https://www.ichimokutrade.com/console.php
They also have quite a few Youtube videos that you can have a look and he has a couple of presentations in the Trading Webinars section.
It would be a good place to start.
Funny you bring this up.....when I mentioned in my first message that half of the money I spent on education were waisted I actually had in mind exactly these people at ichimokutrade.com. I flew all the way to the States for their workshop years ago, hunting for the promised "Holy Grail" of Ichimoku.....I came back with one laminated cheat sheet after spending nearly 5k (at the time) to realize that nothing they teach is not already out there for free or nearly free.
I am not here to advertise any other sources, but just because the subject came up and due to the nature of this website, I feel obliged to share my view on fxatoneglance.com instead.
By far the best value for money you can find on the Ichimoku subject. Even for free on youtube they load hours and hours of valuable education. My only regret was finding them after I already paid a small fortune for the other ones.
Lifetime membership comes at a ridiculous price for what they offer.
Hi Andrea,
That is a very interesting response. One of the lessons from Jack Schwager in market wizards is that you must choose a trading system that fits you (your personality). I am really glad you came back with your response.
I have also looked at fxatoneglance(chaostrader63) but I found it difficult to use even though I really liked what he was doing. I do agree with you that they provide really good value for money and his sincerity is without question.
I didn't spend any money on trading courses with ichimokutrade.com as I only need their scanners and indicators.
I have of course spent money with other people to acquire education on psychology, position sizing, risk management, etc. By the time you spend money and time acquiring these you will be in a position to determine what kinds of systems you want to trade. This cannot be avoided.
Your money wasn't wasted. Unfortunately there is a cost to finding out what suits you.
True in trading as well as in life.
So in my response to you, I was responding from my paradigm without realizing it and you also responded from your paradigm. It's only when I received your response that I realized that.
Unfortunately it takes some time( and money) to find out which trading systems really suits us and as new traders we don't realize this. As the Greeks say "Gnothi Seauton".
What suits me ?
I like to have my setups well defined so that I can run scans without looking at the charts.
For the symbols that appear on the scans I then look up the charts for the appropriate trades(again all well defined objectively).
80-90% of the trades are pretty much selected objectively.
For the 10-20% where there is a grey area I then use a bit of discretion as
1) Some of these might tick all the boxes but don't really work
2) Might have one or 2 elements missing for selection are actually high probability setups.
My ability to use discretion on these 10-20% come from spending a lot of time going through these marginal setups in bar replay mode fine tuning my intuition/instincts.
After that it's simply a question of managing the trade until exit.
This is absolutely true !! ....but in a way I wish those bucks were on my live account as I feel I learnt more about Ichi from Chaostrader for 1/20th of the cost just few weeks after.
I've blown up my account big time and it still hurts when I think about it! That was 6 years ago in 2011. I over leveraged on a stock that I thought would go through the roof. Well, I should have got out and not listened to others but lost the lot and it was a lot! Like 6 big figures. Well I'm still licking my wounds and have opened up a virtual account with CBOE and did a few Udemy courses as well as reading some option books. I practiced selling put options OTM with 80% chance of expiring worthless. So far it seems too easy to get a 1% monthly return that's calculated by dividing premium x contracts divided by strike price. I know people calculated ROI differently but this one seems the most consistent to me as including margins makes it less consistent as margins change depending on the underlying share. For instance gold will never go to zero but tech companies can and do sometimes. The thing I'm learning is not to be greedy and managing my risk and diversifying my account. Like not putting all of it on one 'amazing' trade . I plan to put in a real $10k when I've been consistently trading but remembering to keep excess cash in the account to ride out volatility.
Hi guys, I`m nick, first at all sorry for my english
I´m trader, but I was far from futures markets for a while (I have a broker dealer who mostly trade stocks and Bonds - We´re in Argentina).
I trade futures (ES/CL/ZB/ZS) and options from 10 years ago, more less, im 30 years old now! I have been reading this forum from when BMT was a blog, but this is my first message
As I mentioned I´m in Argentina (I usually go to Chicago / NY for work reasons - 3 or 4 times at year) and im trying to develop a system and team, to trade options in Argentina, in the local markets (Merval).
I know that the local market is really small, but I see a lot of opportnunities here, doing market making (volatility arbs, call ratio backspreads, etc.
I was trading with a model in spreadsheet that I have - to calculate the Implied Vol, HIstorical Vol, theorical prices, etc (based in black and scholes), and that was working good. But what I want to do now, is show this to some interested option trader to know your view about the market / posibilities to make money, and dimensionate how much money is hereand if it does make sense creating a platform or program to trade here (different a spreadsheet)!
I think that the pros in this market are:
- There is not a options traders
- Lot of opportunities, because is like US in the 80´s
- The market doesn´t have algorithms.
- The banks are outside of the derivatives market (they only play in the bonds markets).
The cons:
- It is Argentina!
- Iliquid market
- There is no platforms to trade here, all the good platforms for options doesnt not work with Argentina datafeed.
- Im using bloomberg now, but really i dont know how to use well the options module (I usually trade bonds thru bberg)
i am new to this thread
wanna become elite member
want to ask which payment method is fast
paypal or webmoney ...me in india .... after government gst announcement ..trouble
cant go through my debit card ...
. I plan to put in a real $10k when I've been consistently trading but remembering to keep excess cash in the account to ride out 
