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Wanting a change.
Started:February 11th, 2013 (07:30 PM) by Vampy Views / Replies:759 / 3
Last Reply:February 11th, 2013 (08:06 PM) Attachments:0

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Wanting a change.

Old February 11th, 2013, 07:30 PM   #1 (permalink)
Elite Member
New York, NJ
Futures Experience: Beginner
Platform: Ninjatrader
Favorite Futures: Stocks, futures
Posts: 2 since Feb 2013
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Wanting a change.

Hello all,

I'm a brand new "wannabe" trader looking for a way out of my regular 9-5. I know its most likely a pipe dream, but cmon a man can dream can't he!? LOL seriously though, I am looking forward to learning as much as my small mind will let me and applying it in my best interest.. I've been spending every bit of my free time learning charts and applying methods I'm picking up along the way... So heres my question..

How do most of you feel about moneylines and keltner bands? I use these in conjuction with the currentdayOHL as my support and resistance, and have been quite lucky in the sense a long as my money line is pointed in the direction I want to trade I normally do OK. I keep one tick from the midband at all times with an order waiting and never try to get greedy only taking at the most 8 ticks while only risking 5. There seems to be so many different trading systems out there that one can get overwhelmed.. Or am I just not seeing what could possibly happen in the market due to the S&P closing higher and higher ED.. Again I am average guy with average intelligence's at best sorry if I sound stupid as I've only been trading for 3 weeks and just looking for some insight..

Yours Truly

John aka John'John aka Jon B aka "Vampy" lol given to be by a pretty little thing for a very funny reason!

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Old February 11th, 2013, 07:30 PM   #2 (permalink)
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Old February 11th, 2013, 07:48 PM   #3 (permalink)
Elite Member
In the heat
Futures Experience: None
Platform: NT
Favorite Futures: Energy
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I dont use the moneyline or keltner channels but I do know one thing, be very careful before you spend money on vendors. Research them here on the forum before you sign up for anything. There are plenty of good traders here on the forum that you can learn from. Do your best to keep as many indicators off the chart, they are lagging and therefore not predicative in any way shape or form.

take it slow, don't risk money you cant afford to lose and most of all, paper trade until you have some sort of idea what you are doing.

Take a look at this thread https://futures.io/elite-trading-journals/23787-cl-crude-oil-futures-contract-trades.html he trades crude oil but the price action ideas are applicable to all instruments.

Good luck.

Simplicity is the ultimate sophistication, Leonardo da Vinci

Most people chose unhappiness over uncertainty, Tim Ferris
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The following 2 users say Thank You to PandaWarrior for this post:

Old February 11th, 2013, 08:06 PM   #4 (permalink)
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Chicago Illinois USA
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
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Posts: 1,993 since Aug 2011
Thanks: 924 given, 2,393 received

Panda gives...

good advice. Don't by anything until a trio of futures.io (formerly BMT) vets has said..."only way to do that is to pay someone.". This will never occur. Panda's journal is a good one...there are a few others as well. Go very slow. Consider reading the spoonalysis thread daily.

All the best. DB

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