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I am a FX trader for about a year and only recently I started to become a little bit consistent. Having said that, I am still very weak at many areas. There are a lot of advertisement and false information out there in the internet and it is difficult to know what is a good forum and what is not. Having said that, I am eager to learn from you all. Thanks very much!
I have been trading CFDs on stocks, indices and currencies for nearly 4 years. Now I am considering futures trading for reasons of transaction cost and market transperancy.
Hi Mike, I understand you live in Ecuador. I am very interested in Central and South America, and was wondering about the reliability of the internet connections available there. I'm in Panama now and the service is challenging in most places.
As some of you know, I will be moving to Ecuador soon (next 6 months or so is the idea).
For many years I have had a desire to leave the States and pursue a simpler and more relaxed environment with great weather. I documented some of this over the …
I've always been comfortable opening up, being frank, honest and just telling it like it is.
I've been a losing trader since 2004. I've had some good months here and there but I've never had a profitable year. I used to give money away trading NQ. Then I REALLY blew up my account during the sub-prime collapse. Took a few years off.
I took up trading again in March 2012 with a small account. Blew that up too, buying GLD calls. I was following a lot of the "doom and gloomers" and was convinced that gold was going to rocket higher.
Started over again in September 2012, very small, after subscribing to several Stansberry newsletters. I was selling cash-covered puts on "stocks I wanted to own anyway". I did really well at that so I added more capital to my account.
I crushed it in late 2012 and early 2013. Then I found John Carter and Simper Options and I started losing money again. That was just the timing of it. I take full responsibility for ALL losses. I was trading options credit spreads with too many contracts and got nailed a few times. Plus I was long gold and miners in April 2013 when gold fell through the floor. I became interested in trading GC and SI and that summer I subscribed to Metals Trades with Andy McGuire at Coghlan Capital. I started trying my hand at Gold futures. I lost a ton of money.
I sort of got my s*%@ together by late 2013. I cut back on futures trading and I was selling a lot of stock option premium. I loved selling weekly credit spreads. Loved the idea of time decay and that I didn't have to be right about price movement and I could still generate a profit. I realized that is the one and only thing you KNOW is going to happen in trading - the clock keeps on ticking. Anyway I did better than 8% in November and 24% in December.
This was when Bitcoin was going nuts. I really believed in it and I had already tripled my $8000 investment! I took $20k out of my trading account and bought some more. The only problem was that I was trading on Mt. Gox. I did really well until I lost everything when Mt. Gox went belly up in 2014.
Also during the first part of 2014 my normal trading started going south. I started trading ES and getting hit pretty bad. By the end of February I was back down to about $21k. Kept loosing money, mostly on ES but also on options plays, basically whatever I touched. My equity dwindled down to less than $10k.
In August 2014, I sold some rental property and re-upped my account. I started fresh - a new spreadsheet and new equity curve starting at $40k.
I told myself I was going to strictly sell delta 15-20 weekly credit spreads on SPX, as I had learned from Bruce at Simpler Options. Wow, that went extremely well! Within a few weeks my equity was up over $46k. I started paying myself out of my account and everything. But I was still trading futures on the side, mostly SI, and also ES. I just couldn't stay away from the futures, plus I was using ES to hedge my SPX credit spreads, especially in Oct.
I subscribed to ES Trades on Coghlan Capital. He tells you exactly where to enter and exit, usually intraday. I really tried to trade along with the pro but either he would have a bad day or I would screw up and deviate from his suggestions, or trade on my own and lose. He had a great track record, but it all went to hell in Fall of 2014. So while I made over $10k selling SPX spreads in Aug, Sep & Oct, I lost over $25k trading futures.
I lost a lot more money trading in Nov, Dec and Jan 2015. I had a big GLD put position throughout Dec and most of Jan. It was a great position until I went on vacation the same week when the swissie decoupled from the Euro and gold shot up. I should have closed the position before leaving but I thought gold still had more room to the down side.
That brings me to last week. I started trying to focus only on day trading ES. There's a new guy at Simpler Options, Neil, and he explained some day trade setups. Things went swimmingly on Monday but I lost money every day for the rest of the week.
So here I am. I found this site just this past weekend, looking to learn more about day trading ES. I bought the day trading manual from PATs Trading after reading some posts here. I read most of it last night and started trying it out today. I will start one of those trading journals on futures.io (formerly BMT) soon and document my progress there.
Hey, I'm Brian! Thought I'd introduce myself. I began studying trading six months ago and I'm looking forward to learning more here. Fortunately my job gives me tons of time to myself, so I've been able to study nearly full-time. My username doesn't refer to my trading prowess. Just South Park.
Hi everyone, I am an energy futures trader. Been trading calendar spreads and cracks for 6 years, grateful to be able to make a living doing it. I am here to contribute and join a community of traders! I'll probably be posting mostly in the commodity futures forum.
