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Future Market Wizard
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Future Market Wizard

  #1 (permalink)
Trading for Fun
San Diego California
 
Futures Experience: Intermediate
Platform: ThinkorSwim
Broker/Data: InteractiveBrokers
Favorite Futures: NQ
 
Posts: 127 since Oct 2015
Thanks: 23 given, 45 received

Future Market Wizard

Hello everyone!

Quick background about me- I graduated high school in 2008 and while I was wandering around aimlessly- working and going to community college ....I flipped on CNN, and there was news regarding the stock market crash in October. I immediately thought to myself,"Oh great my future is the Great Depression." FML.

But at the same time I was curious as to how and why it happened.
After doing more research, I learned that you could have seen it coming and even profited from it while the sheep got slaughtered. Immediately after that, I got hooked and became a full fledged nerd about the market.

My dad used to be a former broker/trader for Solomon and although my parents are divorced....he recommended a simple book on Technical Analysis after learning that I was interested in the market. The con was that I would take everything the book said at face value such as RSI divergence being a buy signal. The pro was that I totally believed in technical analysis more so than any religion. The other con was that when I went to major in finance(did graduate), I realized I was wasting my time since I didn't believe any of the things I was learning would be useful to trading.

Anyways I started out with leveraged ETF's and stocks. My big killing in the markets are when they are extremely volatile like 2011. 2012 and 2013 of trend trading and holding killed me however since I wasn't able to recognize that type of market environment.

Fast forward to now, I saw this current correction coming miles away and was actually starting to short Biotech from March 2015 as smart money. The flaw again however was that I sold my winners way too fast, and did not even imagine this big of a correction forming!!! haha.

Anyways my trading strategy currently is to keep things very simple. Basic TA, volume, emotional extremes, PA, and fibs. I don't believe i can automate my trading style as it is pretty much catching the tops and bottoms of moves intraday.

I started doing video journals every day and am always trying to improve.

My hero is Paul Tudor Jones and I would go gay for him, yes.

My brokers are Optionshouse and IB. EOD charts-ProRealTime, Intraday charts=TOS,
I am trying to move into a better futures trading platform, but with this current market enviornment I just don't have the time to learn new programs.

I hope to learn more about auction market theory, market profile, and Elliot Wave theory down the line to test if they are additional tools I can use for my current analysis or to debunk them as not for me and move on.

Anyways nice to meet you all, and I am looking forward to hearing everyone's inputs on here!
P.S. If anyone wants to take on a student with incredible drive and determination, I am the one. <3


Last edited by emptymind; February 14th, 2016 at 06:07 PM.
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  #2 (permalink)
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  #3 (permalink)
Membership Temporarily Revoked
Boston, MA
 
Futures Experience: Intermediate
Platform: NT7
Favorite Futures: CL, RB, LE
 
Posts: 264 since Apr 2014
Thanks: 102 given, 174 received



emptymind View Post
The flaw again however was that I sold my winners way too fast, and did not even imagine this big of a correction forming!!! haha.

That right there will run you into ruin, that philosophy. "Selling winners way too fast". No sir, you had winners. Focus on your wins, not on what your wins could have been.

Winners are winners. We all like to look back upon our charts and think about what could have been. And when we are out of a losing trade early we look back and think, Thank God I was not in that trade for that long.

You have winners. Be happy with what you have, not with what you might have had had you not taken your profits when you did, because if you waited to take them, they may have become losses.

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The following user says Thank You to HoopyTrading for this post:
 
  #4 (permalink)
Trading Apprentice
Malaysia
 
Futures Experience: Intermediate
Platform: TC Pro
Favorite Futures: Crude Palm Oil FCPO
 
Posts: 5 since Mar 2016
Thanks: 5 given, 1 received


HoopyTrading View Post
That right there will run you into ruin, that philosophy. "Selling winners way too fast". No sir, you had winners. Focus on your wins, not on what your wins could have been.

Winners are winners. We all like to look back upon our charts and think about what could have been. And when we are out of a losing trade early we look back and think, Thank God I was not in that trade for that long.

You have winners. Be happy with what you have, not with what you might have had had you not taken your profits when you did, because if you waited to take them, they may have become losses.



very true

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