What I wish I would have known when I got started. - Beginners and Introductions | futures io social day trading
futures io futures trading


What I wish I would have known when I got started.
Updated: Views / Replies:22,234 / 91
Created: by DeadCatBounced Attachments:0

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 100,000 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
 
Thread Tools Search this Thread
 

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

  #81 (permalink)
Trading Apprentice
Chicago + Illinois
 
Trading Experience: Intermediate
Platform: TradeStation
Favorite Futures: Cryptocurrencies
 
Jiren's Avatar
 
Posts: 6 since Oct 2018
Thanks: 2 given, 6 received

One of the best things i did for myself getting into futures is open a TD ToS account, get futures permissions, enable realtime quotes, then papertrade. Papertrade for a loooong time until you are good and ready.
Theres so many reading materials out there, probably more than you could reasonable read given a few years. Find a few good resources, but then apply it everyday with actual trades. Otherwise the book knowledge ends up being too abstract and wont help.

Also paper trading is great for futures, at least if you trade the indices and major commodities. Simulating realistic fills is quite easy and there's lots of liquidity, whereas options trading will be very fake, especially on illiquid contracts.

Reply With Quote
 
  #82 (permalink)
Trading Apprentice
San Francisco, CA, USA
 
Trading Experience: None
Platform: TD
Favorite Futures: futures
 
Posts: 9 since Oct 2018
Thanks: 2 given, 0 received

mastery of a workable method leads to less emotional trading.

Reply With Quote
 
  #83 (permalink)
Elite Member
Seattle WA
 
Trading Experience: Intermediate
Platform: Multicharts
Favorite Futures: 6A, 6C
 
Posts: 4 since Oct 2018
Thanks: 4 given, 2 received


Wow, thanks for sharing your experiences. I think everyone can find something of value in your post. Best of luck in your future trading!

Reply With Quote
 
  #84 (permalink)
Elite Member
Raleigh NC USA
 
Trading Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Optimus
Favorite Futures: Emini, gold, currency
 
Posts: 29 since May 2018
Thanks: 2 given, 7 received


mattz View Post
The concept of risk and uncertainty are both related to psychology and stats. But, if I had to put it in a nutshell, I would say that Risk is a quantified with negative and positive outcomes. Uncertainty is a bunch of variables that could not be quantified to arrive at a decision in terms of risk and reward.

I have learned over the years to think of the positive and negative outcomes of my decisions while considering the variables I am given. In my opinion, it is the conservative approach and also a simple approach to evaluate things.
This is what most people should adopt especally when it comes to trading. (However, IMO, uncertainty has a way higher payoff because it entails a higher risk. This approach should be adopted only by experienced decision makers and experienced traders).

As a beginner trader, you should know what variables are needed to reduce risk and increase reward.
Therefore, simple methods with a few variables are better for trade evaluation than a "collage" of indicators that move you to uncertainty.

I hope this helps.

Matt Z
Optimus Futures

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

Many years ago I worked for a very wealthy man who was tighter than 2 coats of paint. He explained. " you pays your money and you takes your chances". Some things are constant throughout time. It is very simply; complex.

When you can comprehend that, please be a guru in Nepal and I promise I will come visit you.

Sent using the futures.io mobile app

Reply With Quote
The following 2 users say Thank You to Tunetyme for this post:
 
  #85 (permalink)
Elite Member
Baltimore MD US
 
Trading Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, NQ
 
DeadCatBounced's Avatar
 
Posts: 292 since Apr 2013
Thanks: 1,511 given, 705 received

Thanks!

Just was reading through some of your comments and I am glad that this post had meaning for many of you.

For those that are interested in my little journey in life - I am actually really excited about a number of things.

1. I got married and things are great! A wise man once said that "the only thing worse then not being married is being married to the wrong person." I would only add that when you do find the right person your life is so much better.
2. I was able to meet my savings goals the last couple years which gives me alot of confidence that things will be allright in the long run. Being completely out of consumer debt, on track to pay off my house early is something that is relaxing and builds confidence.
3. I quit my job and am focusing on a business startup. Things are looking positive but there is of course no certainty
4. This last year has been by far my most profitable trading year despite making a very limited number of trades and the recent market activity. If there is one thing that I am better at now is looking at the market and seeing what it is doing. Not seeing what i WISH it would do. I think that perspective is gained much easier through swing trading rather then day trading.

I have a much better idea now how little i knew (and still know) about the markets.

I will just add the edit that I put into the original post just now.

The passage of time

If you are like me and got into futures trading as your introduction to the markets I would think LONG and HARD about starting trading by day trading. The first trade I ever did for real money I was in the market for a matter of minutes, had a stress reaction in my body, got out. Repeated process. I was so concerned about having to make money that I was not able to just rationally look at the markets. My story is that I moved from Canada to close to Washington DC and gave myself a 6 month time frame to learn enough about the markets and start trading. I have no doubt that most of you are smarter then I am. But for me I can say without a doubt this was not enough.

The last few years I have swing traded - holding for up to months at at time. There are days that go by where I literally dont bother to check charts I forget I am in a trade. Getting into a trade that is going your way, adding to your winners, giving the market time to do its thing is a incredible learning experience that I wish I had had before trying to day trade.

The reality is that all things of value take time. There is incredible value in the markets, putting yourself in a place where you can learn about the markets over a number of years rather then forcing yourself into a short time frame to have to make money is an experience that now that I am having it I can say with certainty that it is worth it.

Reply With Quote
The following 7 users say Thank You to DeadCatBounced for this post:
 
  #86 (permalink)
Trading Apprentice
Mumbai, India
 
Trading Experience: Advanced
Platform: Own Customized
Favorite Futures: Crude, NIFTY, BANKNIFTY
 
LastDino's Avatar
 
Posts: 3 since Jan 2019
Thanks: 3 given, 4 received

Thinking back

When I started, I wanted to learn everything I found, from trend lines to MA's to EW to Harmonic patterns to SUPPLY/DEMAND zones and what not.

I was fascinated with every indicator that I looked at, like a new gf, I would run after it and try to understand it to my fullest capacity.

I also spent time on studying obscure things like Gann, Murrey and even some astro, of course on my own from best methodes I knew.

BUT, after wasting some time, even though I'm relatively new than probably most people here to the trading world and blowing out major chunks of my account, I've come to realisation that I wish I knew before. And that realisation is of only two points, shocking right?

1. Trading is not a game of "tools", it's actually game of psychology. Which you play between you and masses.
2. It hardly matters what "tools" you use, only thing that separates from successful trader from unsuccessful one is trade management. And you can use anything for that, from hard fast indicators or magic numbers or random lines, as long as you know how to, you will do well

Learning will continue, well hopefully I'll also get some real money in process

Reply With Quote
The following 2 users say Thank You to LastDino for this post:
 
  #87 (permalink)
Membership Temporarily Revoked
south africa
 
Trading Experience: Advanced
Platform: KDE Neon, TWS, Python, R
Favorite Futures: Common stock, ETFs, YM, options
 
Posts: 170 since Dec 2018
Thanks: 33 given, 209 received

I wish I had realized that there are all different forms of speculation and you don't only have to trade a certain way with a certain instrument just because that is what everyone else is doing or what you have read about.

One of the greatest speculations of all time is Peter Thiel's $500,000 to a billion+ investment in Facebook.

If anything you should make a list of the most popular forms of speculation right now and basically do something else.

The minority game and El Farol Bar problem illustrate this type of thinking quite nicely.

Reply With Quote
 
  #88 (permalink)
Trading for Fun
London
 
Trading Experience: Beginner
Platform: MT4
Favorite Futures: Forex
 
Posts: 138 since Apr 2018
Thanks: 155 given, 73 received


DeadCatBounced View Post
Just was reading through some of your comments and I am glad that this post had meaning for many of you.

For those that are interested in my little journey in life - I am actually really excited about a number of things.

1. I got married and things are great! A wise man once said that "the only thing worse then not being married is being married to the wrong person." I would only add that when you do find the right person your life is so much better.
2. I was able to meet my savings goals the last couple years which gives me alot of confidence that things will be allright in the long run. Being completely out of consumer debt, on track to pay off my house early is something that is relaxing and builds confidence.
3. I quit my job and am focusing on a business startup. Things are looking positive but there is of course no certainty
4. This last year has been by far my most profitable trading year despite making a very limited number of trades and the recent market activity. If there is one thing that I am better at now is looking at the market and seeing what it is doing. Not seeing what i WISH it would do. I think that perspective is gained much easier through swing trading rather then day trading.

I have a much better idea now how little i knew (and still know) about the markets.

I will just add the edit that I put into the original post just now.

The passage of time

If you are like me and got into futures trading as your introduction to the markets I would think LONG and HARD about starting trading by day trading. The first trade I ever did for real money I was in the market for a matter of minutes, had a stress reaction in my body, got out. Repeated process. I was so concerned about having to make money that I was not able to just rationally look at the markets. My story is that I moved from Canada to close to Washington DC and gave myself a 6 month time frame to learn enough about the markets and start trading. I have no doubt that most of you are smarter then I am. But for me I can say without a doubt this was not enough.

The last few years I have swing traded - holding for up to months at at time. There are days that go by where I literally dont bother to check charts I forget I am in a trade. Getting into a trade that is going your way, adding to your winners, giving the market time to do its thing is a incredible learning experience that I wish I had had before trying to day trade.

The reality is that all things of value take time. There is incredible value in the markets, putting yourself in a place where you can learn about the markets over a number of years rather then forcing yourself into a short time frame to have to make money is an experience that now that I am having it I can say with certainty that it is worth it.

Thanks, what time frame do you trade now? Daily or weekly?

Sent using the futures.io mobile app

Reply With Quote
 
  #89 (permalink)
Elite Member
Baltimore MD US
 
Trading Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, NQ
 
DeadCatBounced's Avatar
 
Posts: 292 since Apr 2013
Thanks: 1,511 given, 705 received


kazz View Post
Thanks, what time frame do you trade now? Daily or weekly?

Sent using the futures.io mobile app

I am looking at both weekly and daily charts. But I think that if you are planning to hold a trade for months you should have an idea of what the fundamental drivers of the market are doing and then just using charts to find the technical spots to enter.

Reply With Quote
The following user says Thank You to DeadCatBounced for this post:
 
  #90 (permalink)
Trading for Fun
London
 
Trading Experience: Beginner
Platform: MT4
Favorite Futures: Forex
 
Posts: 138 since Apr 2018
Thanks: 155 given, 73 received



DeadCatBounced View Post
I am looking at both weekly and daily charts. But I think that if you are planning to hold a trade for months you should have an idea of what the fundamental drivers of the market are doing and then just using charts to find the technical spots to enter.

Thanks yes I appreciate that, looking at monthly charts, fundamentals come into play.

How about with daily and weekly charts?

Sent using the futures.io mobile app

Reply With Quote

Reply



futures io > > > > What I wish I would have known when I got started.




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

futures io is celebrating 10-years w/ over $18,000 in prizes!

Right now
 

Pro Trader vs Pro Athlete w/Brannigan Barrett @ Habitus Capital

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Started From the Bottom...Again TennisOrDie Elite Trading Journals 177 March 22nd, 2016 04:24 PM
Hi! How do I get started? jaredmason Beginners and Introductions 32 October 27th, 2015 02:05 PM
Getting Started perionan Beginners and Introductions 12 October 13th, 2015 03:59 AM
Started From the Bottom TennisOrDie Trading Journals 61 April 20th, 2015 08:15 PM
How Thanksgiving Started Zipper Ripper Jokes 1 December 3rd, 2013 10:17 PM


Tags
account size, ai, alerts, algos, analytics, ats, auction theory, automatically, average, best strategy, breadth, brokers, buy, code, courses, crossovers, daily range, data, day trade, day trading, dom, dow, drawdown, drawdowns, ema, email, error, est, forex, futures, futures trading, gomi, guru, holy grail, holy_grail, how to, how to trade, indicator, indicators, information, instrument, intraday, journal, limit, list, living, london, loss, macd, make money trading, margin, market auction theory, market profile, micro, new york, news, ninja, ninjatrader, options, pairs, paper, paper trading, people, price action, profitable, psychology, pure price action, quantify, quantitative, rental, research, review, reward, risk reward, risk to reward, risk/reward, scalping, science, short, simulator, size, statistics, stochastics, stocks, strength, successful trader, support, swing, swing trading, switch, systems, tick, time intervals, top, traded, trading, trading career, trading plan, trin, universal, vendor, vix, volume, volume profile, vwap, webinar, webinars, zenfire

All times are GMT -4. The time now is 06:13 PM. (this page content is cached, log in for real-time version)

Copyright © 2019 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432 WhatsApp Business, 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 2019-05-18 in 0.19 seconds with 13 queries on phoenix