Very basic newbie questions - Beginners and Introductions | futures io social day trading
futures io futures trading


Very basic newbie questions
Updated: Views / Replies:1,617 / 11
Created: by nopeda Attachments:1

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 90,000 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
 1  
 
Thread Tools Search this Thread
 

Very basic newbie questions

  #1 (permalink)
Trading Apprentice
Buford GA USA
 
Futures Experience: None
Platform: MetaTrader
Favorite Futures: Emini ES
 
Posts: 6 since Mar 2016
Thanks: 0 given, 4 received

Very basic newbie questions

Hi,

I've never done any of this but have been thinking about it for around 20 years. Now I finally want to at least try it out but don't know how to get started. I'd like something to be involved with like day trading or something but don't want to--and can't--sit in front of a computer all day because of work, and don't have much money so would have to deal with low priced stuff. I've heard the term penny stocks. Is it possible to set it up in advance so things will automatically buy and sell when they reach different points so we don't have to be there watching charts all of the time?

Just in searching around for different forums it became apparent that there are a lot!!! of places for beginners to start, but I don't want to just grab whatever and hope it's worthwhile. So I'm asking around what experienced people have learned about and suggest as good specific tutorials or threads or whatever they think is best for beginners to learn the basics. I know nothing at this point so need to learn how to find out what to learn, if that makes sense. Where to start from the very beginning, from nothing?

Thank you for any help and suggestions!!!
David

Reply With Quote
The following 2 users say Thank You to nopeda for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
San Diego, California
 
Futures Experience: Advanced
Platform: MultiCharts
Favorite Futures: ES, NQ
 
Posts: 26 since Mar 2016
Thanks: 0 given, 22 received


I would not recommend OTC penny stocks. Just don't. There's generally a handful of negative reasons why each OTC company is not listed on NYSE or Nasdaq. OTC is the stock graveyard where the shares of failed companies go to die.

You would honestly be better served buying a single share of a listed blue chip company than a hundred thousand shares of some bankrupt penny stock.

If you have little money, and no time to trade or learn what you're doing (learning markets and becoming a trader will take a lot of time), honestly just buy into a mutual fund from Vanguard or donate your money to charity.

Reply With Quote
 
  #4 (permalink)
Elite Member
Omer עומר / Israel י
 
Futures Experience: Master
Platform: NinjaTrader, Proprietary,
Broker/Data: Ninjabrokerage/IQfeed + Synthetic datafeed
Favorite Futures: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
 
rleplae's Avatar
 
Posts: 2,477 since Sep 2013
Thanks: 1,698 given, 3,673 received
Forum Reputation: Legendary

There is no :
- magic solution / miracle solution to quickly learn trading
- trading is a business like any other business, needs effort, concentration and focus

Most people lose their money or give up, before they go to the profit.

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

Reply With Quote
The following 6 users say Thank You to rleplae for this post:
 
  #5 (permalink)
Market Wizard
London UK
 
Futures Experience: Beginner
Platform: CQG
Favorite Futures: Futures
 
xplorer's Avatar
 
Posts: 3,043 since Sep 2015
Thanks: 6,549 given, 4,807 received
Forum Reputation: Legendary


nopeda View Post
Hi,

I've never done any of this but have been thinking about it for around 20 years. Now I finally want to at least try it out but don't know how to get started. I'd like something to be involved with like day trading or something but don't want to--and can't--sit in front of a computer all day because of work, and don't have much money so would have to deal with low priced stuff. I've heard the term penny stocks. Is it possible to set it up in advance so things will automatically buy and sell when they reach different points so we don't have to be there watching charts all of the time?

Just in searching around for different forums it became apparent that there are a lot!!! of places for beginners to start, but I don't want to just grab whatever and hope it's worthwhile. So I'm asking around what experienced people have learned about and suggest as good specific tutorials or threads or whatever they think is best for beginners to learn the basics. I know nothing at this point so need to learn how to find out what to learn, if that makes sense. Where to start from the very beginning, from nothing?

Thank you for any help and suggestions!!!
David

I share @rleplae's view and I happen to have the same picture he posted. I am of the view that trading is like any other profession.

Another, much wiser, trader than me said "you wouldn't want to have a novice doctor operate on you". Trading is no different. One must pay the price of time spent in front of the screen to gain the experience.

I wish there was a way to just pay up and gain the experience instantly.

Sure, there are training courses, forums, books and other material that can help speed up the learning process but I believe they are a complement to, not a substitute of, experience.

My two cents.

Reply With Quote
The following 4 users say Thank You to xplorer for this post:
 
  #6 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,933 given, 2,782 received
Forum Reputation: Legendary

Yes, trading is tough business. Like all businesses, you will need to stick out many bad periods and though times.
This is what business is after all.

Trading specifically is a combination of very high risk tolerance, strong analytical skills and the ability to live with boredom. Above all, good traders are also realistic as far as their returns and what could be generated from their capital. Not all could have these skills and its not always a question of motivation.

I have been on this forums for years and wonder how many of those who encourage others on motivational basis with the "don't give up" and phrases have successfully done it for themselves(?)

My suggestion to anyone is to think long term. Don't get "obsessed" with trading thinking it will solve all your life problems. The key is not to go through a High/Low cycles emotionally, rather have the right balance of trading in the context of your day to day activities.

Trade within your financial means, analyze each day of real trading and dont over leverage.
You will discover a lot about yourself as far as the decisions you take, and you will learn to avoid bad ones more and more (hopefully). Trading is a competitive sport, but even if you manage to survive in the first years, you deserve to be called a winner.

There are a lot of people who gave very practical solution to traders on this forums, and I truly enjoy them.
The ones who preach "you did not want it bad enough" are not ones I relate to. Just my 2 cents.

Matt Z
Optimus Futures

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

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
Reply With Quote
The following 7 users say Thank You to mattz for this post:
 
  #7 (permalink)
Elite Member
Tucson AZ/USA
 
Futures Experience: Beginner
Platform: TradeNavigator
Favorite Futures: ES
 
casey44's Avatar
 
Posts: 133 since Jan 2010
Thanks: 1,923 given, 124 received


nopeda View Post
Hi,

I've never done any of this but have been thinking about it for around 20 years. Now I finally want to at least try it out but don't know how to get started. I'd like something to be involved with like day trading or something but don't want to--and can't--sit in front of a computer all day because of work, and don't have much money so would have to deal with low priced stuff. I've heard the term penny stocks. Is it possible to set it up in advance so things will automatically buy and sell when they reach different points so we don't have to be there watching charts all of the time?

Just in searching around for different forums it became apparent that there are a lot!!! of places for beginners to start, but I don't want to just grab whatever and hope it's worthwhile. So I'm asking around what experienced people have learned about and suggest as good specific tutorials or threads or whatever they think is best for beginners to learn the basics. I know nothing at this point so need to learn how to find out what to learn, if that makes sense. Where to start from the very beginning, from nothing?

Thank you for any help and suggestions!!!
David

@nopeda, this does not exactly address your post but given what you said it occurs to me you might want to also check out Dough.com. It can offer a structured learning focus. And could offer a starting anchor so to speak from which to explore BMT more.

One example... in time you might be attracted to the trading style/risk profile of one or more of the Dough traders. And through the Dough platform, with a just a few mouse clicks you can “Follow” one of their trades if you want, i.e., it will be duplicated in your account. And then you have some one person you can follow to see what they do next with it. Can put as much or as little time into something like that as you want. If any of this strikes a chord, go to Dough and look around there, their blog, facebook, etc. Maybe sign up for the newsletter. If you read a bit you'll see how Tastytrade and Thinkorswim are connected to Dough.

Just some random fwiw thoughts. Good luck.
(PS, If you have zero interest in options, note that tastytrade.com, which is free, has some daily content re trading futures. Click on “Find Shows” at top of window and scroll down to “Splash into Futures”.)

https://www.dough.com/


Last edited by casey44; March 28th, 2016 at 11:12 PM.
Reply With Quote
The following user says Thank You to casey44 for this post:
 
  #8 (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: 1,559 since Nov 2011
Thanks: 4,521 given, 2,338 received
Forum Reputation: Legendary

Very basic newbie questions


nopeda View Post
Hi,



I've never done any of this but have been thinking about it for around 20 years. Now I finally want to at least try it out but don't know how to get started. I'd like something to be involved with like day trading or something but don't want to--and can't--sit in front of a computer all day because of work, and don't have much money so would have to deal with low priced stuff. I've heard the term penny stocks. Is it possible to set it up in advance so things will automatically buy and sell when they reach different points so we don't have to be there watching charts all of the time?



Just in searching around for different forums it became apparent that there are a lot!!! of places for beginners to start, but I don't want to just grab whatever and hope it's worthwhile. So I'm asking around what experienced people have learned about and suggest as good specific tutorials or threads or whatever they think is best for beginners to learn the basics. I know nothing at this point so need to learn how to find out what to learn, if that makes sense. Where to start from the very beginning, from nothing?



Thank you for any help and suggestions!!!

David

The good part is you are in the right place, FIO that is. Lots of great webinars to watch which I think you must do to some extent. My hope is your a reader because there are some great books you should take a look at IMHO. Books from Mark Douglas, Van Tharp, Jack Schwager, Brett Steenbarger, James Dalton, Justin Mamis and others just type these names into Amazon to find them or highlight here and search for them... also check out this book thread https://futures.io/traders-hideout/8-some-highly-recommended-books.html#post10



But the number one thing you must do, and this is going to make very little sense to you now and you are not going to do it,....but you should ABSOLUTELY 100% , is learn more about yourself....



What do you believe? Believe regarding money. About missing out. About needing information. How do you make decisions? Perhaps you are the type that likes to mull over a ideas/concepts/decisions for a long time before acting (you said you have been thinking about trading for around 20 years). How are you at planning? Following a plan? Creating rules and sticking to them no matter what? Venturing down the Trading path is a growth process for any person and it can and will be a painful one. As anything worth doing is. Very developmental.



Take baby steps at first...crawl before walk etc..... There is much I would like to say but have found, in life, if you shine a light too brightly to illuminate a path for one you just end up blinding them....



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; March 29th, 2016 at 09:52 AM.
Reply With Quote
The following 5 users say Thank You to Blash for this post:
 
  #9 (permalink)
Elite Member
Manchester, NH
 
Futures Experience: Beginner
Platform: thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: Stocks
 
Posts: 902 since Jul 2012
Thanks: 603 given, 1,785 received


nopeda View Post
Just in searching around for different forums it became apparent that there are a lot!!! of places for beginners to start, but I don't want to just grab whatever and hope it's worthwhile. So I'm asking around what experienced people have learned about and suggest as good specific tutorials or threads or whatever they think is best for beginners to learn the basics. I know nothing at this point so need to learn how to find out what to learn, if that makes sense. Where to start from the very beginning, from nothing?

My advice to beginners is:

1. Are you willing to make this something you spend 40+ hours per week in the next 5 years doing this? If no, invest in a retirement solution. If yes, continue.

2. Are you at least either exceptionally skilled or exceptionally passionate about this? If no, either invest in a retirement solution or get employed at a reputable financial firm. If yes, continue.

3. Are you a 'sophisticated investor' by CFTC definition? If no, get employed at a reputable financial firm. If yes, continue.

4. Are you a 'sophisticated investor' according to the 1940 ICA? If no, get employed at a reputable financial firm or find people to work with as equals. If yes, continue.

5. Can you get paid more with elsewhere for each hour of your time spent on this, and if so, does this matter to you? If no, go ahead and DIY. If yes, go do that something else.

Thereafter, you will succeed if you have at least 3 things from the following 4: luck, time, skill, and luck.

Reply With Quote
The following user says Thank You to artemiso for this post:
 
  #10 (permalink)
Trading Apprentice
Raleigh NC
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES
 
Posts: 2 since May 2013
Thanks: 0 given, 0 received



nopeda View Post
Hi,

I've never done any of this but have been thinking about it for around 20 years.
David

Better late than never!

Reply With Quote

Reply



futures io > > > > Very basic newbie questions

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Some Basic NinjaTrader Coding Questions -- IDataSeries Crow NinjaTrader Programming 7 October 15th, 2017 04:49 AM
Answer my Financial Survey? Only 10 basic questions. ziggle12 Traders Hideout 10 April 29th, 2014 03:45 PM
newbie questions .. eagle75 Traders Hideout 2 May 21st, 2012 03:24 AM
Newbie Questions JTurner77 ThinkOrSwim 3 December 31st, 2011 11:46 PM
Basic datafeed questions forexboom Reviews of Brokers and Data Feeds 3 May 24th, 2011 03:56 PM


All times are GMT -4. The time now is 06:40 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, 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 2017-12-12 in 0.16 seconds with 20 queries on phoenix via your IP 54.145.51.250