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-- Big Mike, Site Administrator
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Glad to join Mike.
Appreciate all your work.
I'm just another old guy selftaught on trading futures and handling computers.
Hope I can contribute (after I learn how to trade succesfully)have had plenty of years going nowhere) Happy trading all
Can you help answer these questions from other members on NexusFi?
before I introduce my self, big thanks for your forum Mike!
My name is Abde and IŽam based in Germany and an relative new trader. I trade cfdŽs at the DAX-Future for about 9 months now and made good profits at the beginning, and thereafter lost 90% of my account. I used a 3 MA crossover system with MACD as indicator. Meanwhile I recovered 50% of the losses and decided to put trading by side until I REALLY understand what moves the markets.
I think volume and momentum is here the key. IŽam now on the path to develop a scalping strategy and therefore I have subscribed to this forum because someone mentioned in an other forum that Big MikeŽs is a great place to learn whats necessary.
I'm a 911 dispatcher near Seattle and love my job. In the past my schedule has allowed me to dabble in the market but this year I get off work just in time for the market open and will have tues, weds, thursdays off so I'm hoping to be able to get serious and treat trading as more than a hobby.
I have been (and still am) a professional programmer for the last 22 yrs. (Yikes, has it been that long.....)
I was an Army officer before that, so I know I am very capable of keeping discipline.
I have dabbled in the stock and options markets over that time, not really making a whole lot but Ive also learned just enough to not blow it all, too. I admit that I did blow out a small futures account back in the mid 90's.
It's now time to turn it up several notches, truly get serious about this, and learn both from my mistakes and also from others. I have now opened a couple Tradestation accounts (futures and forex) and have been working through some of my own strategies as well as some others.
I'm still not trading them live because they aren't quite where I want them to be resilience wise (I'm not looking for a grail, just for better adaptation to changing condidions.) I have been able to get parts working, but more work is needed.
I admit, most of what I am trying is rooted in book learning. Van K Tharp, Michael Covell, and several others. The most important things I think are these:
1) Risk management: Every trade must have pre-planned exit rules that must not be violated.
2) Position sizing: Every trade must be sized commeasurate to the pre-planned risk. Turtle-like volatility based sizing algorithms are what I'm investigating at this time.
3) Game theory: sum of the expected outcomes (probability of win * avg win) - (probability of loss * avg loss) must be net positive including commissions and slippage. Knowing that the odds are in your favor comes from confidence in the system and the rules.
4) Trending conditions, Overtrending trending conditions, and non-trending conditions should be considered in any system I intend to trade. No system works in all markets. An overall system will combine various techniques to adapt to the current market conditions.
5) Let the system do its work. Success needs to be measured by whether the system rules were obeyed. A profitable trade achieved by ignoring the rules is a failed trade. Every system faces trades where you get stopped out by a few ticks, only to have the market turn and go back the other way. There will be other trades. Stopping out was the correct action, and that makes those unprofitable trades successful. Over time, the profits will mount.
I'm looking forward to learning and sharing with you all here. I've been programming in C# for a living for over 9 years, so even though I'm not using NT, I might still be of some help to you on that front.
before I introduce my self, big thanks for your forum Mike!
My name is deepak and IŽam based in India and an relative new trader.
I am new to this site. It looks great. I am an day trader and I am looking for day trading setups.
Currently I Am Using Metastock 4 trading sofyware.
Hello Mike and fellow Traders,
I am probably a typical trader in that I have given the market loads of my hard earned money over the past 10 or so years. I have looked at and tested many systems etc with mixed results, and ended up poorer as a result. And like you Mike I now trade fairley Naked, using basic money management, swings and supp/ resist and my trading is finally profitable. Its been and still is quite a journey. Thanks for the Blog I will try to contribute good stuff only.
Andrew
