Hi! How do I get started? - Beginners and Introductions | futures io social day trading
futures io futures trading


Hi! How do I get started?
Updated: Views / Replies:4,442 / 32
Created: by jaredmason Attachments:1

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 1  
 
Thread Tools Search this Thread
 

Hi! How do I get started?

  #11 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


ShruggedAtlas View Post
Not that I want to start a debate, but I disagree with the general idea that any new trader should wait years before actually trading; standing on the sidelines "watching "the market. The amount of time to wait, study, observe is dependent on the individual. Getting started in the Sim training at the beginning is fine, but at some point getting started with a small account perhaps with forex with a few hundred is a good first step. I don't recommend spending thousands to take courses when any resourceful person can get 90% market knowledge free online or through books and videos.


Sent from my iPhone using Tapatalk

I agree that it needn't take years. The observation period need take only weeks.

But unless and until the trader knows what he's looking at, he won't know what to look for.

If he doesn't know what to look for, he won't recognize a trading opportunity when it presents itself.

If he doesn't recognize a trading opportunity when it presents itself, he will be making essentially random trades.

This generally does not work out well.

The first step is not to start trading and develop a pattern of losing behavior.

The first step is to understand just what it is that he's looking at, i.e., why does price go up and down, followed by where and when and how. If the trader does not understand why price goes up and down, he will never be able to trade with confidence. If he can't trade with confidence, he will never enjoy consistent success.

Reply With Quote
The following 4 users say Thank You to DbPhoenix for this post:
 
  #12 (permalink)
Live Your Bliss
Canary Islands, Spain
 
Futures Experience: Advanced
Platform: OA
Favorite Futures: What Moves
 
Anagami's Avatar
 
Posts: 701 since Dec 2010
Thanks: 474 given, 1,398 received


ShruggedAtlas View Post
Not that I want to start a debate, but I disagree with the general idea that any new trader should wait years before actually trading; standing on the sidelines "watching "the market. The amount of time to wait, study, observe is dependent on the individual. Getting started in the Sim training at the beginning is fine, but at some point getting started with a small account perhaps with forex with a few hundred is a good first step. I don't recommend spending thousands to take courses when any resourceful person can get 90% market knowledge free online or through books and videos.


Sent from my iPhone using Tapatalk

After you waste 1000s of dollars trading and are ready to put in some serious learning screen time, we can talk again.

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
Reply With Quote
 
  #13 (permalink)
Live Your Bliss
Canary Islands, Spain
 
Futures Experience: Advanced
Platform: OA
Favorite Futures: What Moves
 
Anagami's Avatar
 
Posts: 701 since Dec 2010
Thanks: 474 given, 1,398 received



DbPhoenix View Post
I agree that it needn't take years. The observation period need take only weeks.

WEEKS? That must be one of the most absurd statements I ever read, after more than a decade of trading and watching the markets.

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
Reply With Quote
The following user says Thank You to Anagami for this post:
 
  #14 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


Anagami View Post
WEEKS? That must be one of the most absurd statements I ever read, after more than a decade of trading and watching the markets.

Of observation time? Before beginning to formulate preliminary hypotheses? Yes. It took much longer when I started in the 70s, but that was before computers and digital charts and replay. Nowadays, if one employs replay and is interested only in the first 90-120m, he can go through a week in an evening.

Reply With Quote
The following user says Thank You to DbPhoenix for this post:
 
  #15 (permalink)
Trading Apprentice
Auckland
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 3 since Jul 2015
Thanks: 3 given, 1 received

Hey, wow - thanks all for the great comments so far!

A couple of points I'm hearing is 'download Ninja Trader' and 'everything you need is available for free'...

I installed NT and set up the demo feed. Now I'm staring at some blank pages, so any more specific advice on the basic act of setting up a chart, or making a trade would be most helpful.

In terms of all the free stuff out there, could anyone be more specific? I've already spent 20hrs digging into trading over the past 3 days and would say 80% of that time was a total write-off. I've consumed numerous videos and articles that I've since found out are rubbish, so if I just keep on googling according to my own limited understanding I'm pretty sure I'm destined to waste even more time.

One course I had been considering is Al Brooks Price Action video series. I know it costs, but basically, if its good value and will allow me to spend less time searching and more time learning quality information, then I consider that an effective use of my resources.

Otherwise, are there any particular websites or YouTube channels or whatever else that have good starting points for beginners? Particularly any kind of series, or structured outline to get me started in the right direction... then once I have a framework I will be better informed to start researching and filling in my own gaps.

Thoughts?

Reply With Quote
 
  #16 (permalink)
Trading Apprentice
Auckland
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 3 since Jul 2015
Thanks: 3 given, 1 received


DbPhoenix View Post
If I may, the first thing you need to do is decide what kind of trader you want to be.

The second is to decide what you're going to trade and when you're going to trade it.

The third is to develop your system.

It is work. There's no denying that. The good news is that it needn't cost you a dime until you're ready to open up a brokerage account and begin trading.

The attached pdf will guide you:

Thanks for this article - I'm two thirds through, but certainly an interesting read.

Unfortunately, I'm not sure I feel comfortable with my knowledge level to even answer these questions...

I know I live in New Zealand time zone and have a 9-5 job. But all of the other stuff I'm really waiting to get a better understanding of before I try and commit one way or the other.

Reply With Quote
 
  #17 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


jaredmason View Post
Thanks for this article - I'm two thirds through, but certainly an interesting read.

Unfortunately, I'm not sure I feel comfortable with my knowledge level to even answer these questions...

I know I live in New Zealand time zone and have a 9-5 job. But all of the other stuff I'm really waiting to get a better understanding of before I try and commit one way or the other.

These questions are deceptively simple. I've known traders who've gone on for years without ever addressing the question of what kind of trader they want to be. An answer -- even a half-baked one -- requires a minimal level of self-examination.

But as for observation, perhaps the most basic question is whether price is moving up or down or sideways. If you can't tell, then you have your work cut out for you.

Price has only two states available to it: trending (moving up or down) and ranging (moving sideways). If you look at a weekly chart of whatever (stockcharts.com or bigcharts.com are good sources), you should find it easy to tell whether it is rising or falling or doing neither. A weekly chart of the NQ, for example, has been rising since June '13. But if you don't want to trade a weekly chart, you'll want to look at a daily, at least. The weekly chart shows you that price is rising. The daily chart also, necessarily, tells you that price is rising. Just not all the time.

So when price stops rising on the daily chart, does it go sideways or does it reverse? Where? How? Under what conditions? How far does this reversal, if any, go? Why? If price is moving sideways (ranging), how long does this last? When price stops ranging, does it leave the range to the upside or the downside? How far does it go? When does it fall back into the range? When does it take off without ever looking back? What are the conditions that define either of these outcomes? How can you take advantage of the "tells" to execute a profitable trade?

These questions will have to be answered eventually. If they are answered at the beginning, the trader saves himself a lot of time and a great deal of money. The longer they are postponed, the more time is wasted, the more money squandered, the more useless information there is to be unlearned. And of course there is the problem of the fear that has by now eroded the trader's confidence.

Incidentally, as you have a 9-5, there's no reason for you to be concerned about real-time streaming charts. Your chief concern is replay. If you have NT downloaded, contact them via email and ask for help in setting it up, particularly the replay function. It's not the most user-friendly interface I've ever seen, but loads of people love it. I'm sure there are threads here that explain how to go about doing what you want to do.

Reply With Quote
The following user says Thank You to DbPhoenix for this post:
 
  #18 (permalink)
Atlas
Bloomington
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Interactive Brokers
Favorite Futures: Stocks
 
ShruggedAtlas's Avatar
 
Posts: 191 since Apr 2011
Thanks: 78 given, 74 received


jaredmason View Post
Hey, wow - thanks all for the great comments so far!



A couple of points I'm hearing is 'download Ninja Trader' and 'everything you need is available for free'...



I installed NT and set up the demo feed. Now I'm staring at some blank pages, so any more specific advice on the basic act of setting up a chart, or making a trade would be most helpful.



In terms of all the free stuff out there, could anyone be more specific? I've already spent 20hrs digging into trading over the past 3 days and would say 80% of that time was a total write-off. I've consumed numerous videos and articles that I've since found out are rubbish, so if I just keep on googling according to my own limited understanding I'm pretty sure I'm destined to waste even more time.



One course I had been considering is Al Brooks Price Action video series. I know it costs, but basically, if its good value and will allow me to spend less time searching and more time learning quality information, then I consider that an effective use of my resources.



Otherwise, are there any particular websites or YouTube channels or whatever else that have good starting points for beginners? Particularly any kind of series, or structured outline to get me started in the right direction... then once I have a framework I will be better informed to start researching and filling in my own gaps.



Thoughts?


Free stuff includes most of the webinars on futures.io (formerly BMT), go to your local library and check out virtually any (all) technical analysis books. Or have a coffee at your local bookstore and read them all for free (minus the coffee). This will take you several weeks to get through while at the same time you are also reading through the exhaustively extensive ninjatrader videos and help files freely available that show you in painstaking detail how to get past those blank pages your seeing. Dude, seriously, you need to be able to find, read, and understand the basic help info ninja trader provides for free or honestly your not cut out to do real trading. Absorbing the basics of TA will take an average person a few weeks to 3 months. Understanding NT will take hardly more than a week. All the info to get you started is free. Once you are at a point where you have enough info and you begin sim trading based on the free knowledge you've learned you *should* begin to make your own independent decisions about how to trade. You'll be able to weed out the garbage and focus on what works- for you.


Sent from my iPhone using Tapatalk

"I've missed more than 9,000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game-winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed."
- Michael Jordan, 5-Time NBA Most Valuable Player, 6-Time NBA Champion
Reply With Quote
The following 2 users say Thank You to ShruggedAtlas for this post:
 
  #19 (permalink)
Every Day I'm a n00b
San Tan Valley, AZ/USA
 
Futures Experience: Advanced
Platform: NT7
Broker/Data: IB, Tallinex, & 10 others.
Favorite Futures: Futures
 
FABRICATORX's Avatar
 
Posts: 195 since Jun 2013
Thanks: 693 given, 160 received

I concur with the sentiment that standing idly by is an inefficient means of learning, with a catch - after first observing what does what, then get in there and start experimenting a bit.

We are creatures of the scientific method, it's a natural instinct. Build a rough hypothesis, then test it. Do that over and over until your results match your hypothesis.

Get some skin in the game, but don't sabotage yourself either.

Think of each respective market as a living, breathing organism. Get to know its moods, its temperament, its overall demeanor.

Treat it like a strategy game, like chess - you can eventually figure out what moves your opponent will make, but you can't ever be 100% sure. The trick isn't to figure out what they're going to do right before they do it, but know 5 moves before they do it.

Remember: this game can be fun!

-Jimmy
Reply With Quote
The following user says Thank You to FABRICATORX for this post:
 
  #20 (permalink)
Trading Apprentice
Colby, KS
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 11 since Jul 2015
Thanks: 5 given, 1 received


I opened this thread expecting a lot of hate about someone asking "how to trade" i'm really glad you guys have responded well, and in turn given me, a complete outsider some real things to work over and learn with. Thanks!

Reply With Quote
The following 2 users say Thank You to Abrockman for this post:

Reply



futures io > > > > Hi! How do I get started?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Started From the Bottom...Again TennisOrDie Elite Trading Journals 177 March 22nd, 2016 05:24 PM
Getting Started perionan Beginners and Introductions 12 October 13th, 2015 04:59 AM
Started this Journal Because.......... Tiberius Elite Trading Journals 426 March 30th, 2012 11:34 PM
Getting Started with MC BlueTrin Trading Journals 1 October 23rd, 2011 08:10 AM
Just started a blog Would Traders Hideout 12 August 18th, 2010 12:42 PM


All times are GMT -4. The time now is 02:55 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-13 in 0.15 seconds with 20 queries on phoenix via your IP 54.163.209.109