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Hello everybody and many thanks to Mike for this
Forum. I am a flight attendant from Germany for more than 20 years.
I trade for many years but never fulltime.
Sometimes more sometimes less my trading account was up and down many times.
I try to get into automatic trading since a short time, because I believe this is the future and it should be the best for my situation - traveling a lot and not every day able to go online - sometimes with a lot of time sometimes with very little time.
Unfortunately I am not very skilled with computers.
I traded everything firts Stocks than CFDs and now I get more and more into the future market basically for swing Trading. I am looking forward to try my first strategies, but I still struggle to understand and use the programs and to learn to code easylanguage
I'm not completely new to trading, but I'd consider myself intermediate (breakeven stage). I was attracted to the stock market after the Bitcoin bubble. I happened to buy some bitcoin, Ethereum and litecoin about a month and a half before it skyrocketed, then plummeted back down in early 2018. I profited a few thousand in that but would have much more had I known what the heck I was doing. But that event got me interested in learning the markets and I began my education in January 2018.
The education I chose was geared to day trading low float stocks that were gapping premarket. It was very fast paced and even though I did ok on a simulator, it was just too fast for me. Plus, I didn't have $25,000 to day trade stocks like that. And I figured I'd lose it if I did! I discovered futures, particularly the Emini S&P. I practiced it on a simulator for several months and also swing traded stocks in a live account. The stock trading was about breakeven minus commissions but I didn't have a real strategy. My goal of getting to trade a live futures account became much more accessible when the Micro Eminis came out in May 2019. I sim traded 1 strategy that I put together myself and was doing well, but when I went to live account, I did something stupid and added an indicator I had never used in the simulator. Thankfully, I did know what risk management was and didn't blow my small account, but that first week, I did move a couple of stops which I swore I'd never do in a live account. Never say never! It took me 18 trades to lose $50 (that was mostly commissions). However, my oldest daughter was getting married in a couple of weeks so I figured I'd better lay off of trading until the wedding was over. BUT... I was emotional one day and I thought I was too scared to ever trade my live account again. I panicked, traded live and lost another $50 in about two hours (8 trades). Why in the world would I do that? Because I wanted to prove I wasn't afraid to do it again. Well, not only did I prove what a chicken I am, I lost more money in the process.
About a month and a half later, I've put a system together that I have committed to for a year. It works more than it fails. I've had to work on ME a whole lot more than any system. I haven't moved a stop in 2 months. That's huge for me! Today is my first day trading live again, and my set up never happened, though I usually have about 2 setups per day at least. Another big mile stone here, I didn't make up a trade when I didn't see one for my strategy. I was able to sit on my hands.
My plan is to trade 5-10 times a week, no more. I have set hours now and I don't look at charts to trade outside those hours. (I do study charts a lot outside that time.)
I've never blown up an account, but I've never grown one at this point either. I have a lot of work left to do on myself though I have come a long way. I know this is a long introduction, but I hope to learn a lot here as well as help those not as far along on their journey as I, even if it's to share the stupid stuff I've done with a buy/sell button.
Oh, and I am a perfectionist to the core. As a veterinarian, I was trained to get it right most of the time and that has been my biggest struggle. Learning to lose and be okay with it.
Thanks for reading and God bless everyone.
Sounds like you've put a lot of time into this already. You'll find a lot of helpful, experienced people here, all you have to do is ask. I look forward to seeing the reports of your progress. Good luck with your trading!
Mike
NW Trader
There is no path to happiness. Happiness is the path.
I am a personal trader in Shanghai. I am glad to join this community today.
I start forex CFD trading 3 years ago get profit in the first year, but lose in the 2nd and 3rd year. then i start to trading futures such as ES, NQ, QM, GC with currency futures as well. I hope i can get $500 every day for a living this is hard so far, but it is my first target. If i failed that means i can not trading for living. Hope i can pass through this stage.
I hope i can learn and advance with your guys and if you live in Shanghai area we can discuss more.
Hi,
I am an intermediate trader and just joined this forum on 9/20/2019 myself. Glad you are here.
I don't live in Shanghai, but I see something in your post that grabs me, because that is how I was thinking before too. I was thinking that I had to make so much money a day in order to be successful. And, of course, if we want to make a living at trading, we have to make a certain amount of money per day, week, month...
I had to stop looking at trading in that way. For me to move forward, I had to stop focusing on how much money I had to have per day. It's like standing on the sidewalk in front of a skyscraper. We have to look way up to see the top, if we can see it at all. But we know there is a way to get to the top of the sky scraper, but first, we have to look at the door in front of us, at eye level. It is easy to walk through the door and find the stair case. (trading is more like a stair case for most people, instead of the elevator!) Then, take one step at a time until, eventually, we are at the top of the building. It was hard, it took some time, but focusing on one step at a time is the only way to give yourself a CHANCE to succeed.
Your $500 per day is at the top of the sky scraper. Your strategy, that has been back tested and works, is the door leading inside the sky scraper. Once you have a strategy that you know works, focus on implementing it, and only that one strategy. Then, you get on the stair case by trading that one strategy and keeping a journal for every trade. You must be able to go back and analyze EVERY trade in order to improve. When I did this, most of my improvement was on myself. What I mean is, I had to train myself to keep the rules of my strategy, no matter what. No stop moving, no target moving for now, I just have to trade my strategy, no matter how much money I make or lose right now. In fact, I'm better off not having my P & L in front of me while I trade. I do better to check it at the end of the day or even the week.
I didn't mean for this post to be so long. The main point: Focus on your strategy and the process of improving yourself. (Keep your trading rules that you write down when you are not emotional, so you know what to do when you are emotional in a trade). For me, once I was able to follow my rules, I am able to focus a little more on my strategy and how I can improve it. I can make $5 a week consistently right now. Next week, who knows? But I'm climbing those steps and at some point, if I keep my focus on the system and myself, that $5 will become $50/week, then $500/week, and yes, $5000/week, but it won't happen next week. But I believe it will happen if I'm patient and CONSISTENT. As long as I had to focus on the money, I was going backwards. Focus on your strategy and on improving and the money will come later.
I sure hope this helps put things into perspective and I hope I didn't bore you.
and I don't trade futures (yet) but I hope to learn and give a bit despite.
There are very few places in the web that are helpful bc most just want you to subscribe or sell you something.
This here looked more down to earth so I joined even though the focus may be a bit more on futures.
Candlesticks after all, right?
