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Mike, thanks for making this forum. I've never traded before, but I'm excited and eager to learn, and this is just what I was looking for: a place with tons of information and a positive attitude.
I've been reading lots of books and looking at lots of online videos about day trading and futures, and it seems the mental or psychological aspect of trading is more important than any sort of fundamental or technical analysis, any chart or any tool.
Can you help answer these questions from other members on NexusFi?
Hello everyone. Been looking into futures market the last half year or more.... diff room and mentor but yet to find anything that really profitable. the journey continues.
I started trading about six months ago. I was trading momo stocks, and did well for a while. But I was stupid, unmature and emotionally underprepared so when I hitted a rather big loss I didn't know how to handle it and that one loss turned into a lossing strike, and in the end I almost blew up and lost money that I shouldn't be lossing.
I took couple weeks off, traded sim, read some books, reviewed my performance, found some problem, implemented my plan and now I'm able to make some money consistantly. But I only have 10k left, so only three daytrades a week, so I started looking at futures. Always heard future is more risky, but I think as long as I manage my risk and stick to a tested plan, go one step at a time, I will be fine. I learned from my previous failure and spent last two months trading sim, and developing a detailed plan.
I'm now able to profit consistantly in the sim and is looking to go live. Hope it'd work out this time.
It's a pleasure to join an open community as I begin my new journey of Trading. I am a beginner and have taken an interest in trading because I enjoy finance related topics and economics. I have always taken an interest in the markets, but really have not had the time to commit to it due to my first career - US Marine. I am retiring from the military and would now like to pursue Trading full time and do well enough to make a living. We will see where it takes me, but my first goal is to supplement my income.
Ok... enough of that, I think others may have a similar story, but the real reason is I want to enjoy the freedom trading offers. I look forward to interacting with this community and learning the path the Trading Freedom.
Been watching trading stuff for years but a month ago I learned futures exist and I loved the concept of it so much that I abandoned, deleted, forgotten everything about forex/stocks/options/binaries/ and learning all about futures.
I am using a SIM account on NinjaTrader and using AutoTrader from Trading123. So far I'm doing great on SIM account.
Planning to go with Dorman Trading+NinjaTrader platform in 6months to 1year.
I do mine with accounting software Zipbooks. It works smoothly with my Meta Trader 4. No glitches with the integration.
Paul Mann says "Professional traders may deduct all of their direct and indirect trading or business expenses without limitation. This includes margin interest and all other types of expenses. The expense categories are very much broadened for professional traders as well. For example a professional trader can deduct automobile mileage, meals and entertainment, cell phones, trader chat room fees, dues and subscriptions, home office expenses, and the list goes on and on."
A greenhorn here only been trading for a short time now focusing just in stocks with no experience in options or futures. Looking to learn from the knowledge and experience of successful traders with different styles and strategies taking bits and pieces from them along the way as i develop my plan.
Mostly been trading paper account in ThinkorSwim, but I have made several trades in my live account. Having twice as many losing trades as winning trades but still managing to be green in my overall P/L. Trying to learn from my mistakes and how to manage risk as well as dealing with my emotions when a trade is not going as planned. Still learning the discipline to follow a strict set of rules waiting on the right setups to becoming a consistantly profitable trader so hopefully I will be able to guide new traders in the near future with the struggles you must overcome to be successful. Plan the trade...Trade the Plan.
