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Rookie needing guidance..
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Created: by Dalton14 Attachments:4

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Rookie needing guidance..

  #11 (permalink)
Capt. Johnny Jameson
Fort Lauderdale
 
Futures Experience: None
Platform: NinjaTrader 7
Broker/Data: CQG
Favorite Futures: ES
 
Devil Man's Avatar
 
Posts: 641 since Oct 2009
Thanks: 1,880 given, 895 received
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Dalton14 View Post
Alright fair enough I can roll with that. Any direction on how to begin to understand how to use NinjaTrader and get started, I've read you can sim trade to start maybe that would be the place to start.

start with the search box upper right hand corner of futures.io

on your computer with ninja open, hit f1 key ninja help

that should get you started

....or hey, Let me google that for you

tons of resources out there to help you, just dive in the program and start playing around with it


Last edited by Devil Man; December 23rd, 2015 at 11:01 PM. Reason: grammar
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  #12 (permalink)
Trading Apprentice
Toronto ontario
 
Futures Experience: None
Platform: None yet
Favorite Futures: None yet
 
Posts: 9 since Dec 2015
Thanks: 5 given, 5 received

Thanks for the replies guys.. really helpful to have a community of people that aren't asking for 3k to just help me out. I think I'll just try playing around with NT for now (See if I can get the sim going to at least understand the platform) and at the very least get the elite membership here..

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  #13 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
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the shrike told me Mark douglas was a failed trader, it says so in the preface of trading in the zone.


I watched a 10 hour webinar by mark and learned how to trade without fear

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  #14 (permalink)
Elite Member
Arcata, CA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: index futures, oil
 
Saroj's Avatar
 
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Dalton14 View Post
Good evening fellow traders!

Would anyone be so kind as to give me some direction or point me in the right way? I've been consuming as much material as is available for free on the internet and I am wary of paying for a course unless recommended by any of you guys.

I just finished reading "Trading in the Zone" and will begin again in a couple of days as I really want to internalize the concepts the author brings and I think the psychology portion of trading is what will come most natural to me. On the other hand as someone with no experience with any sort of interaction with the market I have been finding that to be the first of many walls I have hit and look to get across it as soon as possible.

I've been taking the "art of trading" free course online and it has been exceptionally helpful in teaching some of the basic theory and terminology but already in lesson 3 things are getting a bit confusing. To compound the issue I downloaded NinjaTrader to check it out and was left even more confused.

Any direction would be greatly appreciated... I'm a rookie but one eager to learn just looking for the right knowledge.

I would try out Sierra Charts before committing to NinjaTrader... I've been a NT user for a decade and recently tried Sierra because I want Market Profile data at a good price... Sierra runs circles around NT in capabilities and performance. Lots of support from various firms, in particular Infinity Futures.

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  #15 (permalink)
Elite Member
East Coast, Florida
 
Futures Experience: Intermediate
Platform: IRT/S5
Favorite Futures: ES
 
New Level's Avatar
 
Posts: 53 since Feb 2014
Thanks: 3,295 given, 77 received

My best advice would be to ask yourself if you are willing to commit a LOT of time (years) to this without making money, and likely losing money, from it. This is a world class competition for money and you should fully appreciate that. If you still think it's something you want to pursue, then I would get an elite membership here and start reading and watching webinars, I'm partial to FuturesTrader71 stuff, he also does a traderbite live on youtube every morning where he lays out his views. Also:

- Start watching the markets, get a feel for how things move.
- Start a journal, get in the habit of recording what you learn every day.
- Don't watch financial "news" (entertainment), it's just mental pollution, and you will need your own insights to trade.
- Definitely stay away from indicators.
- There are no shortcuts, don't get swindled.

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  #16 (permalink)
Trading Apprentice
Toronto ontario
 
Futures Experience: None
Platform: None yet
Favorite Futures: None yet
 
Posts: 9 since Dec 2015
Thanks: 5 given, 5 received


New Level View Post
My best advice would be to ask yourself if you are willing to commit a LOT of time (years) to this without making money, and likely losing money, from it. This is a world class competition for money and you should fully appreciate that. If you still think it's something you want to pursue, then I would get an elite membership here and start reading and watching webinars, I'm partial to FuturesTrader71 stuff, he also does a traderbite live on youtube every morning where he lays out his views. Also:

- Start watching the markets, get a feel for how things move.
- Start a journal, get in the habit of recording what you learn every day.
- Don't watch financial "news" (entertainment), it's just mental pollution, and you will need your own insights to trade.
- Definitely stay away from indicators.
- There are no shortcuts, don't get swindled.

Thanks NL..

My answer would definitely be a resounding yes... my only regret is not having found trading earlier.

What's the most effective way of "watching the market"? On a platform such as NT?

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  #17 (permalink)
Live Your Bliss
Canary Islands, Spain
 
Futures Experience: Advanced
Platform: OA
Favorite Futures: What Moves
 
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Posts: 701 since Dec 2010
Thanks: 474 given, 1,398 received


Dalton14 View Post
Good evening fellow traders!

Would anyone be so kind as to give me some direction or point me in the right way? I've been consuming as much material as is available for free on the internet and I am wary of paying for a course unless recommended by any of you guys.

I just finished reading "Trading in the Zone" and will begin again in a couple of days as I really want to internalize the concepts the author brings and I think the psychology portion of trading is what will come most natural to me. On the other hand as someone with no experience with any sort of interaction with the market I have been finding that to be the first of many walls I have hit and look to get across it as soon as possible.

I've been taking the "art of trading" free course online and it has been exceptionally helpful in teaching some of the basic theory and terminology but already in lesson 3 things are getting a bit confusing. To compound the issue I downloaded NinjaTrader to check it out and was left even more confused.

Any direction would be greatly appreciated... I'm a rookie but one eager to learn just looking for the right knowledge.

Forget concepts.

Watch the market for couple of years every day. Then trade.

"...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
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  #18 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
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  #19 (permalink)
Elite Member
East Coast, Florida
 
Futures Experience: Intermediate
Platform: IRT/S5
Favorite Futures: ES
 
New Level's Avatar
 
Posts: 53 since Feb 2014
Thanks: 3,295 given, 77 received


Dalton14 View Post
Thanks NL..

My answer would definitely be a resounding yes... my only regret is not having found trading earlier.

What's the most effective way of "watching the market"? On a platform such as NT?

Yes, you will need a charting platform and a data feed, when I started I just opened a TDA account and got think or swim with data for free, and still use it for some stuff. I wouldn't get overly invested in any one package yet though, there may be reasons to go one way or another depending on where your path leads you.

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  #20 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NT8,NT7,TWS,FOREX.COM app
Broker/Data: InteractiveBrokers, NinjaTrader Brokerage FOREX.COM, IQFeed
Favorite Futures: The one I'm creating in the present....ES, ZF, ZN, ZB, FX pairs
 
Blash's Avatar
 
Posts: 1,557 since Nov 2011
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Rookie needing guidance..



Dalton14 View Post
Thanks NL..



My answer would definitely be a resounding yes... my only regret is not having found trading earlier.



What's the most effective way of "watching the market"? On a platform such as NT?



At a certain level the platform one chooses ceases to matter IMHO as they are all very good and I feel it gets into splitting hairs given you are using a standalone platform again IMHO not something for some broker save Thinkorswim or Interactive Brokers. So the likes of Trade Station, Ninjatrader, Sierra, OEC and many other standalones. So I say if you find something that floats your boat go with it. Just commit.

Next you need data. But above all you need cash. Money you don't need for life. This money is going to be the life blood of your business. Think about this life blood. If you had a low level of blood in your body how healthy would you be? How alive? How vibrant of a person would/could you be? You would be sickly. Low energy....pale. Your immune system could not function well and you would be ill. Many traders have tiny accounts, low levels of life blood. So it dominates over everything they do. They try to scalp markets risking 1 2 or 3 ticks because they can't afford to lose their blood or they will die. Because they have such a small amount of blood to start with. They have to be right almost 100% of the time (well, they feel they do because they don't understand this is a probability game one needs to retrain themselves to think like this to make this business work everywhere in life before trading you do better when you are correct about "things" ie school you get A's work you get promoted but if you keep trying to be right in the market you go broke, you will lose much much more than just the money you opened the account with due to margin calls) because when wrong a bit they are done, bloods all gone just like in the human body if you bleed out thats it man.



So a lot of what you do depends on how much capital you have to start with if its a small amount (nothing wrong about that just be real about it don't lie to yourself) futures is not a good idea save for something like this and only this FX Products or micro spot FX with a honest broker (extremely hard to find as many will trade against you taking the other side of your trades as they know the success rate is very low so to them its a great trade etc) The idea being with these two: E-micro forex Futures a CME product and spot forex (FX = Forex = foreign exchange = currency pairs ie USD/EUR) is they have very low per tick (smallest price increment, in FX this is called a pip I say tick because I trade Index Futures and Interest Rate Futures CME products and stock pairs) dollar value. So you can risk a small amount to see if your idea for a trade works or it does not work. And not lose to much of this precious life blood. Stock might be an option to trade because you control the tick size, so to speak, yourself with the number of shares you trade. Problem here is the $25k minimum pattern day trading rule. I am making the assumption here, and please for give me, that perhaps you don't have a large amount of cash for trading based entirely off of past interactions here at futures.io with new people to this business and from reading your posts.



Anyway dive in and learn. I leave you with a quote from a book I won here from a @
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Ron

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)

Last edited by Blash; December 24th, 2015 at 10:46 AM.
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