thank you for inviting me to do a introduction of myself- even this is a lot of work for me as I need the dictionary all the time as english is not my "mothers-tongue".
I´ve blown out account 2 times. But this is OK. Why? Because of this I learned a lot. If I wouldn´t have had this experience I´d trade my whole life like a gambler, one day some win, other day sure losses. This doesn´t mean that I started trading without learning before. But same as in school you think you got it, but after this 1st impression there comes the 2nd one - to know that you didn´t got it.
Now I´m on sim already for 10 months, I think I know every platform in Europe (as I´m from there) for forex and futures as well as the most used platforms in the US. I think it´s important to have the right software for working and to be familiar, same as a cardriver has to know where the brake of the car is - without thinking about when he needs it. I think NinjaTrader is the best on the market. Especially the chart trader is so important - for me - to see where the price is every moment and where I got in or my stoploss and profit-targets are. Without this I couldn´t trade anymore - and this is one reason for my blown out account before when trading with a Dom and watching the charts on another software.
The next reason for my blown out account is that I was trading - after a coaching - with 15min charts. Now, after 10 months of testing and sim-trading I find that time-based charts are not the best way - for me. I do not feel enough competent to comment why and to list advantages of certain chart-types or the advantages of my preferred setups.
And the 3rd reason for my blown out account is that I thought the indicators will do the trading for me. I had to learn - because of my losses that I have to understand the markets, I had to learn about price-action. Only now after understanding the price-actions and different time-frames I can go and work on the markets. At this point I want to thank Jam the trader from www.signaltrading.net who learned me understanding the markets - the best teaching of all rooms I´ve been in the last 10 months (and I was in a lot of rooms and trials).
Of course the indicators are important for me also for watching the markets because they help me to give a picture from the price-action. And at this opportunity I also want to thank everyone who has put the indicators on the NinjaForum site and on BigMikeSite because its great to share this knowledge with others.
I find this website a great idea and I want to thank you for this to be part of the community.
The following 2 users say Thank You to tony2604 for this post:
Thanks for this wonderful place to find solutions to trading problems and questions.
I started out in trading working in IT at a day trading firm and long story short I began trading myself. I now trade from home and am looking to dial in my skills on a trading style that works best for me.
The following user says Thank You to Default User for this post:
Since a year I'm started serious with future trading. Took a membership at a advisory services, an account at a broker and Ninja Trader. In the first months I lost a lot of money. I couldn't get away from the mouse, trade on the wrong moments and didn’t listen very well to the advisory service. I was to emotional in trading. I stopped with my membership and started with programming in NT, surfed around on the internet for indicators, strategies and all kind of advisory services and software solutions. I tried several of them but experienced that none of them was good enough (for me). But I learned very much and that was the positive part of these experiences.
On this moment I’m still in the phase of defining all kind of strategies and testing them in sim. I’m still in a learning curve but I hope I can contribute to this forum in the future.
The following 2 users say Thank You to edmar for this post:
Hi, my names Julian; I live & trade from Phuket thailand. I,ve only been trading full time for 2 years, before that I worked full time & just dabbled in the market.
I read my first book on the stock market when I was 18. It was "How I made 2 Million in the stock market", by Nicolas Darvas. Its still one of my favourite books.
When I read some of these forums, its amazing to me how history keeps repeating itself. There are waves of new traders like kamikaze pilots hell bent on finding the holy grail & on their way many blow up ,crash & burn as they keep on making the same mistakes over & over!.
If you are a newbie & or an experienced trader still struggling , do yourself a favour & read, "How I trade for a living", by Gary Smith.
Its the story of how he was a go nowhere break even trader for 19 years , with an account that never exceeded $4000 dollars.
Then one day he turned it around & 3 years later his $4000 grew to over $400,000 trading index futures.
There are many great tips in there on how he would read price action. His main thing was to watch the last 10 minutes before the close. If the market had a strong close he
would buy. After a strong uptrend like like we just had, if he saw all three main indexs close down by more than 1% , he would start lightening his load, by the second or third down 1% day he would be all out. (This tip saved me thousands ),on the big S&P pullback from 1200 we just had. I was all out quickly before the big slide happened.
Later in life he traded mutal funds. He made the coment. My account is hundreds of thousands of dollars better off because I quit daytrading.
Happy trading to everybody Julian
The following 3 users say Thank You to loriley for this post:
Platform: NinjaTrader (It's a love/hate relationship)
Favorite Futures: CL, TF, 6E
Posts: 176 since May 2010
Thanks: 60 given,
New to the forum. I was drawn here due to the upcoming Al Brooks webinar. As a devout follower of Al's, I couldn't miss any of his presentations.
In the meantime, this site has been impressive to surf. There's a lot of valuable knowledge here.
My journey is typical. Heard of this thing called "4X" (sic) from a friend. Joined a signal service and promptly blew my first account. I then went through the mechanical systems and indicators phases. While able to find some minor success, I was very unimpressed with the returns of mechanical systems. I'm truly seeking alpha. To be in the top 2% of the 2% who are successful. I've been trading 6 years now and hope to go full-time in another 5.
Getting away from Forex and into futures was one of the best moves I ever made. My current approach to the markets is an amalgam of Brooks price action, VSA & candle analysis for day trading. I use Wyckoff almost exlusively for longer-term positions, but am still learning.
Now I trade completely naked... price and volume. I find I can't trade a chart without volume and find indicators to be a nuisance on my charts.
This forum seems to be a nice mix of beginners to mature professionals. Glad I found it.
The following 2 users say Thank You to Slipknot511 for this post: