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I`m a US expat living in Switzerland (8 yrs.)--started trading 6 mos. ago.
Well, if you can call it that. Had some great beginner`s luck with a cash account, up 31% first month buying 3x silver ETF.
Started reading all over the web every waking hour trying develop a vocabulary while I watched live candle charts (mostly London Silver) fancying myself a natural.
Ponied up for a margin account, started day-trading volatile stocks and FX. Within 2 mos. I went from up 31% to down 25%.
Decided maybe I was`t a natural and needed to settle down and put my money in something safe. Had been hearing so much about AAPL and it seemed to be going up endlessly. Went all in on April 10 (the day it reached it`s all time high), doubled down twice that day as I watched the streaming red lines plummet. Over the next next few weeks I bottomed with my account at 51% down (still holding AAPL). On 10 April (also my birthday) I had`t even bothered to look at where it was trading in the channel and how long its ATR had been off the charts before I threw myself into it, as I was so exasperated with my day-trading losses at the time. Even though I had just read about these things in Elder`s book. Anyway, I could go on, but I`ll leave it at that.
The good news is that it put my trading on hold and forced me to look honestly at myself and realize I had joined the infamous club of greater fools...and though hard at work learning, had been clueless, a consummate baggie. Man was that sobering and painful (though fairly benign compared to some of the stories I`ve read). And in the mean-time I`ve been forced to sit on the sidelines, fully margined in AAPL, reading, watching and waiting for my losses to be cured as my wounds heal. I know I could take some action, but I feel like I need this self-imposed down-time, to digest the multitude of things I`ve been learning since I started in January and to learn a lot more before I start pulling the trigger again. I`m feeling pretty gun shy. I landed here (forum) searching for feedback on Al Brooks book before ordering it (which I did today).
Of course I`ve come to realize what an incredibly complex and wild beast this thing we call the market is--effected by so many different factors in so many different ways...the tape will be moved. Sometimes I wonder if at my age, 54, I will ever really be able to learn how to trade, as in my previous life I had no interest in economics, the market and the like of any kind--much-less fundamental and technical trading analysis--rather music.
I am smitten though. And for now, anyway, bound and determined to learn. I`m completely fascinated at the prospects of gaining some deeper understanding and know-how of this more than challenging field.
Thanks for allowing me to first-time vent my little trading world.
I`m hoping this place will help me along in my trading and investing development.
And I`m hoping that I will also be able to contribute in some way.
Cheers to all from Switzerland,
Philip
Hello people! I am from Brazil, trading Bovespa Stocks since 2009, and after dealing with many ups and downs and trial and error, no consistency and such, I bumped into futures.io (formerly BMT) and after browsing for a week, decided it's time to invest seriously in my learning. Hope to learn and grow my trading a lot through this community, and have to say just for browsing and reading for a week, I have learned so much. Thanks !
It's nice to join this board. I first learned of it because of gomi's cumulative delta indicactor, and since then I've lurked around without an account for 6 months. I've benefited tremendously from the discussions here even before making this account, so I'll like to give you all my thanks.
I'm entirely on the program trading side. I took an interest from the work on quantitative risk management and statistical arbitrage at a mathematics conference, and took a turn from developing computational models for stroke rehabilitation to implementing volatility models. I am currently in Tokyo but will head back to Cambridge, MA by the end of this summer. Either ways, happy trading, and see you guys around on the board!
I have been looking at this community for a few months and based on feedback from other traders decided to join...
My trading began trading in 2000, actually became passionate about trading in 2008 and trade stocks, etf's & options. In 2012 I began trading Futures and found my home :-)
The reason I am responding is that I am 62 and learning. At 54 you have tons of time so don't (ever) let age be a factor.
I have been working on this for about 3 years and luckily or not, did not put a lot of real money into this before I realize how much learning and training I would need before I really get out on the field to play. I am now questioning myself that perhaps I am playing it too safe and need to start using real money.
My major response to you relates to your comment ".... gaining some deeper understanding and know-how of this more than challenging field.". I have listened to many people and read many books and have watched myself. Yes there are technicalities that you will have to learn but that only accounts for less than 20%. What you have to learn is yourself. You have to learn discipline which results in patience, focus, and emotions that support what you want and not contradict what you want. Don't ever think you can control your emotions but you can learn to live and trade so that your emotions are your friend.
Best of .... I was going to say luck but this has nothing to do with luck. So work and study hard and smart. Remember that's 20% techical and 80% you.
Geoff
Thanks for your words and support and they are well worth remembering.
It is incredible how the switches get thrown in your head when real cash is on the line, time perception warps, heart rate and respiration accelerate, tension and emotion grow exponentially, decision-making power center gets overloaded and skewed--sometimes frozen like stage fright as your uncertainty and doubt magnifies into a dominating cacophony of church bells in the hollow of your head and then you scramble for dear life pulling the trigger at every phantom demon threatening to rob you blind (like massively leveraged AUDUSD)...for day-trading anyway. I know it does`t have to be this extreme and there are times when it has actually flowed like being in "the zone"--especially in the beginning before I had accumulated so many bad memories. I think time, knowledge and experience will hopefully turn a lot of this in my favor.
Anyway, all of this to agree with what you say, especially the 80%-you part. I have already discovered a lot about myself and my relationship to money, my fears and desires and deeply entrenched belief patterns that create knee-jerk and illogical reactions and actions, my pettiness and greed, fear and panic, ego, need to be right, impatience, arrogance on and on. Understanding this is one thing, developing new ways of being that work in real-time action under pressure is another. The tendency is always to revert back to your self-default mode. Again, I`m hoping time, experience and learning from mistakes will improve most of this and all this energy will be channeled into much more confident and clear action with a much greater ability to understand and accept the consequences--both good (as in running profits) and bad (shorter losses)--and roll with it. Money and risk management. Okay, enough blah blah.
So, I guess there`s no way to get there without walking through the fire.
Back at you with: "So work and study hard and smart. Remember that's 20% techical and 80% you."
I appreciate it. Thanks again.
Philip
Hi to everyone - bit shy to make comments hence it has taken some time to pluck up the courage to start.
I have been studying trading for around 6 years now and have been live trading so understand what it takes to pull the trigger as they say. I started in the emini futures world using NinjaTrader and even though I have recently started studying the FX markets (MT4), my passion remains with Ninja. My trip has come almost full circle and I am now back pretty much where I started with a basic chart, 1 x ma and another indicator called TDI. The methodology of this setup was established by a great & sincere tutor named Big E ( Thread called Trading Made Simple ).
I am not a techie at all and like to keep things as simple as possible. With all that is going on in the Euro Zone this past couple of years, my live trading has been limited but I still dedicate my trading time to Sim. My preferred instruments are 6A /6B /6E ( Aussie / Pound / Euro ) all being Currency Futures. As I live in NZ, my trade times are pretty neat - I start looking for signals at around 7pm my time which is pre-London and the Open. I am generally finished by 10pm my time. in the morning, I do look at the signals that may be around at about 8 - 9 am NZ time. This is basically the last couple of hours from US market and then the open of the Aussie . Having spent far too many hours in front of the screens all these years, I have finally learned that sometimes LESS IS BEST. It does not take long to identify if trade is forming - if not, then go & do something more constructive or have fun even
Anyway - enough of my background. I am dedicated to being a success and hope to get some help from you all. If there are any members who trade similar to me on Ninja, I would love to hear from you. Even more so too if anyone has been a follower of the TMS method discussed earlier. I look forward to contributing and to also continue browsing over a lot of the threads here.
Cheers - Meadsie (Brian)
I am based in London and have been trading for just a little over five years. I started off as a day trader using swing trading strategies. Now I combine swing trading with scalping techniques. I trade UK equities, futures and FX.
I am looking forward to sharing trading experience and new strategies with eveyone here and to grow and learn as we all take this narrow road to financial freedom and personal wealth.
See you around on the forum.
StarTrader777
PS - I hope I have posted thisin the right pace on the forum
I thought I would introduce myself and provide a brief synopsis of my trading career to date.
I position traded and day traded stocks and options in the mid 1980s. I also day traded stocks in 2000-2001. I have blown up several accounts over the years and in the process made ALL the mistakes! I will soon fund yet another account and try futures this time. I am confident the results will be different this time. I have learned much over the years and paid very dearly for the knowledge!
Mind to introduce myself, i'm 20 years old and i've been trading since 2009 and blew up several accounts, now i'm trading my own account since last year, intraday trading in gold instrument with trendline as my only friend lol
Either ways, happy trading, and see you guys around on the board!
(Brian)
