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Hi! I'm new to the forum and relatively new to trading too. I've been trading for 1 year but came to the markets with absolutely no background. I'm frustrated that I'm not consistently profitable yet, but nevertheless feel that I've learned a lot over the past year and hopeful that the turning point is coming soon.
I trade the CL and keep vacillating between wanting to add an additional market, like ES, NQ, or YM, and waiting until I'm profitable to add a second market. Part of me thinks that adding another market can allow me to take advantage of it on days that CL is slow and will also help prevent bad CL trades, which are more likely to happen when you're only focused on a single market. On the other hand, perhaps I should have to "earn" the right to trade another market, by proving to myself that I'm disciplined and knowledgeable enough to be profitable...
Another struggle is figuring out how to work trailing stops. I don't want to see a trade go 25 ticks and come back to take me out at break even. On the other hand, if I trail too closely behind price, I tend to get taken out to the tick before the market ultimately reaches my target, which can be 40-50 ticks from the entry. I understand that smaller targets will get hit more often, yet many times bigger targets are achievable and it's a shame not to take what the market is willing to give.
These are some of the things I'm still trying to work out and I'd appreciate any insight other members can offer. I appreciate all the traders out there who have shared their wisdom and experience on this website, offering invaluable guidance to those of us trying to achieve our trading goals. Thank you and good luck trading.
Rich here. Glad to be a part of this forum and excited to learn all I can from what seems to me, to be a community of like minded, positive individuals who want to succeed.
I've been trading the indices futures for a year on Nadex using the TOS platform for data, charts, studies etc.. with not much success.
Any advise and criticism is welcome as I truly want to succeed and become profitable.
Best wishes to all and thanks for having me.
New joiner and delighted to be able to join such an informed group.
Very late to the investing/trading arena. Turning 50 this year and while I am an accountant by trade and now working in wealth management, never applied myself to personal investing.
I have spent the last 6 months reviewing at a high level, penny stocks, options, forex and day trading, swing/fundamental and automated to try and get a sense what felt right for me from a personality perspective. Overwhelm is an issue for sure and "time decay" is at the forefront of my mind!
I have decided to:
- start with options (probably the sell side) and add strategies slowly as I go along.
- see if I can consider commodities trading in tandem with this? For some reason, this area interested me most.
- Give myself a couple of years and then possibly look towards algo/auto.
Having spent the last couple of days looking at very helpful posts, I am going to start with Joe Carr and take it from there. If any of the more experienced members have useful advice for my journey, I'd be really grateful to hear from you.
Hello all. I've been studying trading part-time for a year and a half, but I'm not quite ready to jump in and trade. I'm a CPA who is married with 4 kids and I've spent 8 years building my accounting firm with 7 employees and decided last year that there has to be a better work life balance that gives me time to learn to trade. I sold my practice last fall and am currently working from home 20-30 hours a week with 2 of my clients as a part-time controller. This just about pays the bills, and a chunk in savings will float us for a few years if needed. So I now have a little capital to work with and a little more time to focus on trading.
I found futures.io last spring and joined right away and have been reading posts and watching webinars but not actively engaging in the community. It's not that I don't value the system, I just don't know what I would contribute. I dabbled in forex at first because the hours fit with my career, but I decided I couldn't stand the unregulated system and switched to studying futures last summer. I soon stumbled across FT71 and have been gobbling up his webinars and traderbites to understand volume profiling as much as possible. Everyone says you just have to find what works for you. I love trying to glean information from the charts, but candlestick patterns always puzzled me. If you just tweak the timeframe a little bit, you get a whole new candle and different meaning. Volume profiling with price areas to navigate to and away from makes more sense, so that's where I'm headed for now.
Now that my schedule if freeing up and I can spend a consistent chunk of time trading, hopefully I'll jump in to live trading soon, and also become a regular contributing part of this community.
Thanks to all before me who already contribute to create this environment for new folks like me.
Hi everyone!
I am an amateur in trading for around 10 years and hope can process to next level.
I read a lot and try a lot, but not success yet,
Hope I can study then contribute to this forum
Hope my story will be a successful one...
Let's grow up together~~
I started daytrading stocks in 1999. I’ve blown up accounts, mainly due to emotions and gambler’s mentality. I’m like others, in that I went from strict rules to it all falling apart. I’ve learned a ton of lessons over the years from lots of different sources. I am currently looking into community trading, especially automated algos. Hopefully, we can exchange ideas and become better traders in the process.
I have only recently started trading, mostly in forex for now, and I'm still struggling to become more consistent and profitable. I'm trying to learn as much as I can both taking courses and seminars and trading in demo accounts. I'm very happy to have joined futures.io, it seems like an excellent community of traders with good discussions and like-minded people helping each other to improve. Best regards to all and happy trading
My advice to you starting out, stay away from any and all mentors, educators and indicators. Learn how to trade a naked chart with price action first. Once you are confident and knowledgeable and you want to start adding indicators then proceed to build out your method further. A good starting point that won't cost you a dime is https://www.babypips.com/ complete the FREE education program on there and you will be ahead of the curve. After all of that if you want to start paying someone to help you then you can find many vendors here on big Mike's or even free information and Indicators in the premium membership futures io
