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What I wish I would have known when I got started.
Started: by DeadCatBounced Views / Replies:8,452 / 36
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What I wish I would have known when I got started.

  #31 (permalink)
Trading Apprentice
Hartford, Connecticut
Futures Experience: Intermediate
Platform: ninjatrader
Favorite Futures: YM, ES
Posts: 5 since Aug 2013
Thanks: 1 given, 6 received

I know I can't be the only one, but I'm definitely one of those guys that went through the vast majority of indicators out there.

Started out with the rsi/macd/stochastic combo. Moved to bollinger bands. Moved to moving averages. Moved to ichimoku. I think you can see a trend here... lol

Basically hopping from one system to the next breaking every rule in the book.

If I could go back in time I would tell myself to study s/r, money management, and strictly price action. No indicators whatsoever.

But then again, back then who knows what I would have done with that info. Trading is something where I feel you need to make all the mistakes you can to carve yourself into the trader that you are meant to be.

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  #32 (permalink)
Trading Apprentice
Glasgow, Lanarkshire Scotland
Futures Experience: Beginner
Platform: Sierra Chart
Favorite Futures: CL, ES
Posts: 8 since Apr 2016
Thanks: 28 given, 2 received

Great Thread

This is a great topic - and while I'm sorry to hear you've had to hang up the trading boots I think you are an example of someone with the right mindset to find success.

I like most others have been through a variety of trading methods and am only now at a stage where I think I'm understanding that I don't need more knowledge, I need practice and the ability to build confidence in my own way of doing things.

Thanks for taking the time to make this thread - it's a testament to your character that you can share your experiences to help others despite them at present not being the desired result.


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  #33 (permalink)
 Vendor: www.algoworx.com 
Pretoria Gauteng
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Emini ES, Crude CL
Popsicle's Avatar
Posts: 197 since May 2016
Thanks: 1,352 given, 434 received

Thank you for sharing

Wow! Thank you very much for sharing so openly @DeadCatBounced, it must take lots of courage. I have read through your original post probably three times now and learn something new every time I do.

All the best in your new endeavors and let us know how it is going. With an attitude like yours I have no doubt that you will eventually come back to trading in a big and very successful way!

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  #34 (permalink)
Market Wizard
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
Posts: 3,606 since Feb 2012
Thanks: 3,162 given, 6,360 received
Forum Reputation: Legendary

Amazing post

Thanks @DeadCatBounced

When I read the journals here and see where most of the posters are struggling - then your post

"Have the patience to let the market do its thing
Most large intraday swings take between 3-5 hours to complete. Somehow someway if those are the kinds of moves you are wishing to capture you have to have the ability to be patient enough to let the market do its thing: whether that is finding a part time job, some sort of hobby or something to let you do a secondary thing while still feeling productive with your time. Go download rosetta stone and learn mandarin or something.

is absolutely right!
A longer time frame than most of the traders are looking for is needed to get positive longtime results.
Article especially dedicated to @ratfink who knows about but can not leave this rat cave easily.

To encourage traders with 2 important points - not already mentioned in this thread:
1) TURN OFF your P&L while trading: it makes you crazy with non realized wins or losses
2) Let the market play it out: "Set and forget"-trades are the best of all! You don't need to stare at the screen - changing
eventually preset decisions. When entering a trade you should believe in your decisions and your stop loss settings.

Finally - the hint to learn a new language in your spare time while trading is great! Which trader is speaking more
than one language? Being capable of speaking several languages does wonders to your trading - PROMISED!


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The following 7 users say Thank You to GFIs1 for this post:
  #35 (permalink)
Elite Member
Busan, South Korea
Futures Experience: Beginner
Platform: NT 7
Broker/Data: Ninja
Favorite Futures: ES
Posts: 20 since Aug 2016
Thanks: 5 given, 24 received

Futures Edge on FIO
Thanks for starting this thread OP.

I just turned 31, recently married and have just started my trading endeavor/journey a few months ago.

I had been lurking for a few weeks and after reading this thread decided to join and look forward to becoming a more regular poster.

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  #36 (permalink)
Trading Apprentice
Futures Experience: None
Platform: metatrader
Favorite Futures: gold
Posts: 12 since Sep 2016
Thanks: 7 given, 2 received

I wish I had read more about brokers and about how to trade without losing all your money!!!

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  #37 (permalink)
Elite Member
knoxville tennessee usa
Futures Experience: Advanced
Platform: nijia trader
Broker/Data: A.M.P. I.Q. ....C.Q.G.
Favorite Futures: ym
Posts: 194 since Mar 2012
Thanks: 72 given, 69 received

i wish i started on this forum

if you think of the time and money Mike has save trader from buying b.s from dishonest vendors ...it is in the millions ..it is no wonder why he gets fire, he hits them in the pocket book...and they do not like it..

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