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What I wish I would have known when I got started.
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What I wish I would have known when I got started.

  #71 (permalink)
Trading Apprentice
Vancouver, BC
 
Futures Experience: Intermediate
Platform: TOS, Sierra
Favorite Futures: ES, YM
 
Posts: 22 since Dec 2015
Thanks: 13 given, 6 received

so fitting to see this post

i took my long break and now i'm coming back with more energy and excitement than before.

hope you'll get the opportunity to come back one day too!

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  #72 (permalink)
Trading Apprentice
Beaufort, South Carolina
 
Futures Experience: Beginner
Platform: Think or swim
Favorite Futures: Wheat
 
Posts: 3 since Feb 2018
Thanks: 0 given, 3 received

Nervous to trade, but I'm more ready than ever

Great post! I have been trading for several years and I do not want to stop. there is obviously a lot of risks but also a lot of rewards. Thank you all for the site and all your time. This is amazing

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  #73 (permalink)
Elite Member
SF Bay Area + CA/US
 
Futures Experience: None
Platform: TS, TOS, Ninja(Analytics)
Favorite Futures: NQ CL, ES when volatile mrkts
 
paps's Avatar
 
Posts: 1,660 since Oct 2011
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paps View Post
i re-read what you said.

Yes you hit the nail on the head. I meant calculated risk as even with the best analytics... just about anything can happen in the markets. But when Data is crystal....a true trader with analytics puts on a trade which has totally asymmetrical returns....& perhaps more so...if these are swings. Scalps may have their own nuances.

lol....i did not mean "Taking decisions with uncertainty"<< that perhaps may not be classified as trading.

Passion to the hilt, dedication, extreme perseverance to succeed against any and all odds. motivated like hell. Aware of Risk in markets. Greater awareness when to push and main and the most imp of them all is Execution.

when all the above is met.... one needs to then think of how the Zenith in Trading can be achieved. There is the word Possible in the I m Possible.

and understanding 1 thing in the markets which maybe working for you. And knowing that thing inside out.

lol.....my 2css

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  #74 (permalink)
Trading Apprentice
Viborg
 
Futures Experience: Beginner
Platform: NinjaTrader(algo)
Favorite Futures: Futures
 
Posts: 1 since Mar 2018
Thanks: 0 given, 0 received

Thanks a ton for this thread, so much precious infomation!

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  #75 (permalink)
Trading for Fun
Houston, TX
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage (Dorman)
Favorite Futures: Emini ES
 
Posts: 130 since Jun 2018
Thanks: 111 given, 66 received

What I am learning so far is,

1) Do take a 60% gain once your initial goal is reached. Too many ride the full swing up and back in the hopes of higher gains.

2) Look into Financial Independence. Setting a final amount that one will need to retire helps in tracking back steps that would lead to this amount.

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  #76 (permalink)
Trading Apprentice
Kolumbia
 
Futures Experience: None
Platform: tt
Favorite Futures: gc
 
Posts: 5 since Jul 2018
Thanks: 1 given, 0 received

dont be afraid of algos, you would be amazed at how much stupid shit is out there.

commissions matter BIG TIME, there are some strategies where a couple of cents will take your from + EV to - EV.

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  #77 (permalink)
Trading Apprentice
Cape Coral FL USA
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: Tradestation
Favorite Futures: CL, GC, NQ
 
Posts: 6 since Aug 2014
Thanks: 0 given, 17 received

I agree with the majority of what has been written. I have been trading futures for 21 yrs. I have spent most of those 21 yrs finding out what works for me. I've tried all sorts of indicators, time frames, markets, etc. As time progressed I slowly found out what works and what doesn't for me. It's been a long road which cost me a lot of money but I stuck with it because I love doing it. I finally have found out what works for me and it is vastly different and much simpler than all of the other things I've tried. Wish it hadn't taken so long but I don't regret a minute of it. Now I can just sit back and do what needs to be done to make back all my "educational expenses". No different than becoming a doctor or a lawyer I guess. You just need to stick with it-there is a very long learning curve.

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  #78 (permalink)
Elite Member
Riyadh, KSA
 
Futures Experience: Intermediate
Platform: MetaTrader
Favorite Futures: Currency
 
Posts: 3 since Nov 2016
Thanks: 3 given, 0 received

Margin/Position Valuation

What happens to my Margin during trading Futures when the Bid-Ask coming from my Broker widens? Is the Margin impacted?

For example in CFD, I might go Margincall if Bid-ask spread widened alot

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  #79 (permalink)
 Vendor: www.optimusfutures.com 
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,218 since Sep 2010
Thanks: 2,149 given, 3,104 received
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alaghafx View Post
What happens to my Margin during trading Futures when the Bid-Ask coming from my Broker widens? Is the Margin impacted?

For example in CFD, I might go Margincall if Bid-ask spread widened alot

CFDs have their own market makers/ECNs. Truly your broker will be the best source for that.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #80 (permalink)
Elite Member
Evans GA/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage - Philip Capital
Favorite Futures: NQ,ES,6E,CL
 
TradingOgre's Avatar
 
Posts: 408 since Jul 2018
Thanks: 665 given, 1,040 received


When you are first starting out, spend EVERY free moment you have learning. Yes, take care of the job. Yes, take care of family obligations. Yes, don't forget to mow the lawn. What I am talking about is all of that time that people spend playing Madden or watching Netflix or whatever activity people have that doesn't move them closer to their goal just stop it. I was up at 3 am yesterday (Sat) and today(Sun) working on improving my trading. Why? Can't do anything in the yard and everybody else is still asleep. No distractions. No interruptions. Just me and the computer and the simulator. What is most amazing about this is that I don't need to get up early. I want to get up early. I have multiple streams of income that keep me very comfortable in my life but even when I was working for a living I would get up early to learn. I had a job that I worked from about 6 am to 4-5 pm 5 days a week and some weekends when things broke. I would still get up at 2 am (so I could be fully awake before London markets opened at 3). I would trade for a few hours then go to work and after I got home and took a little break I was back at it for an hour or so. It was all worth it the day I handed in my resignation.

Get comfortable with being uncomfortable. Trading is tough mentally. It's easy to look back at charts and say "Oh, I would have taken that trade". It's when you are in the heat of battle with money on the line that you will figure out who you are as a trader. When you do figure it out is when you will begin to grow exponentially as a trader.

Time.... be patient. Doesn't matter your age. I have a friend who is a trader (stocks and options) that is 86. He mainly does it to keep his mind engaged and constantly thinking. He gives away all of the money (after taxes) that he makes trading. I asked him how long it took before he was making consistent money. He told me that time is not relevant. He was only concerned with getting better. He said if you get better every month or every year eventually you will become profitable. He said the toughest part is not measuring getting better in dollars and cents. He has had losing months where he felt he got better as a trader. Very detailed notes are the key (journal) along with managing risk.

Realize that a regular paycheck is the worst thing to have. It will only make you complacent and bind you to a job and a company that doesn't give a sh*t about you. No matter what they tell you to your face. I have seen it far too many times in my 52 years of life. They will tell you that you are important in one ear and remind you how easily you are replaced in the other ear. Doesn't matter if you are a trader, own a business or sell things on Ebay. Get yourself to where you are no longer reliant on other people for your success.

Stay out of debt. An old friend of mine once told me that management at the company we worked at just loved to see new cars in the parking lot at work. They referred to it as "velvet handcuffs". Read "The Richest Man In Babylon". Changed my life.

I could go on and on but it is time to get back to the charts and studying.

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