I am in Desperate Need of A Mentor - Beginners and Introductions | futures.io
futures.io futures trading

Go Back   futures.io

> Futures Trading, News, Charts and Platforms > Traders Hideout > Beginners and Introductions

I am in Desperate Need of A Mentor
Started:May 25th, 2016 (01:51 AM) by N00bdayraider Views / Replies:569 / 6
Last Reply:June 2nd, 2016 (10:40 AM) Attachments:0

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • 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, and we will never resell your private information.

-- Big Mike

Thread Tools Search this Thread

I am in Desperate Need of A Mentor

Old May 25th, 2016, 01:51 AM   #1 (permalink)
Trading Apprentice
Jersey City, NJ
Futures Experience: Beginner
Platform: OptionsHouse
Favorite Futures: Options
Posts: 8 since Jul 2015
Thanks: 2 given, 4 received

I am in Desperate Need of A Mentor

I've been trying to trade since 2012, by "trying" I mean losing money or trading sim to no avail for that long. I started with Options, and right now my capital is split between options, forex, and futures -- with futures containing the majority of it.

After scouring the Internet for years, watching tons of video and doing tons of reading, I came across Wyckoff. I read his stuff multiple times, saw videos explaining it all, and it seemed to make sense. The major players buy on dips and sell on bulges, whereas the retail public does the opposite. With Wyckoff's method you're supposed to use price movement and volume to look at when a stock is accumulating and distributing. It all made sense to me as I learned it, but when I looked at stocks I couldn't read volume for the life of me. It was just a bunch of bars that made little sense to me. Sure, price made sense, but I couldn't tell if price was accumulating or distributing because I couldn't tell what volume was doing.

Doing more research I came across Alan Andrews and his median lines. This was something I liked because all it required was price -- no volume, no indicators, just price. I read his original material and I didn't really get it, but I came across Tim Morge. I watched and read A TON of Morge's stuff. He really knew how to explain things. I admit I didn't get all of it, but I felt like I got enough of it to apply it. Following price and plotting out a median line seemed simple enough. I'd find the three major pivots and saw price act how Andrews said it should.

But putting it all into practice is where the difficulty and frustration came. I'd plot a median line out and watch price. It would touch the center and that would be a signal to plan a trade. Then I'd wait for price to get to the parallel, look for a test with good separation, then execute my trade on the retest. Sometimes price would do what I expected it to do, sometimes price would blow through my stop, sometimes price wouldn't reach the parallel, and sometimes price wouldn't get a proper test/rest. Of course you're not going to get every trade right, but consecutive losing trades made me question myself. Did I really understand these methods?

So I studied some more and tried narrowing down my scope, focusing on something simple instead of being all over the place. My plan is to daytrade QM (while charting CL), ES, YM, and NQ. And I'm debating about whether I should trade currency futures or not, but when I do try to trade them I get burned for some reason. I'm also planning on trading options for longer term plays (holding for a few days or weeks) because I can't afford the stop for holding a currency future -- meaning I can't risk the same amount in a longer term move or else I'll get easily stopped out.

The thing is that every day there won't be a trade, I understand that, but I'm still questioning and second-guessing myself. One thing I do every night is look back at the chart, replot median lines, and see what I missed -- this definitely infuriates me. Maybe I shouldn't do this, maybe I should accept that I can't stare at the charts 24/7 (and I can't because I work nights and have other things to do in life). Still, it makes me wonder if I'm doing this right or not.

This is why I say I desperately need a mentor, someone to show me whether I'm doing this correctly or not. Right now I'm only trading sim and I will continue to trade sim until I feel like I've grasped this. However, it still feels like I'm in sink/swim mode and I'm not doing anything. It's like learning a martial art by reading books and watching movies. Maybe you'll get it, maybe not, but you won't know until you're in a real fight. However, when you're taught that martial art by an instructor you'll truly learn. You'll see what works for you and what doesn't. And you'll know what to apply in a real fight thanks to the instructor.

Some people are gifted enough to read and watch the material to pick trading up, and I accept the possibility that I'm not one of those people. Tim Morge was lucky enough to be taught by Alan Andrews, and I think Alan Andrews was taught as well before he came up with median lines. I'll never be as great of a trader as those men, and if they needed mentors I most likely do as well.

Reply With Quote
The following 2 users say Thank You to N00bdayraider for this post:

Old May 25th, 2016, 01:51 AM   #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.


Old May 25th, 2016, 02:05 AM   #3 (permalink)
Elite Member
Los Angeles
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra
Favorite Futures: ES
srgtroy's Avatar
Posts: 1,316 since Jan 2011
Thanks: 952 given, 2,019 received

Consider the following site:

Lizard Trader

I am not affiliated with them in any way, but I think they have a nice, logical and simple approach with which to really form a base. The co-owner created many indicators for this site and his reputation is unblemished. They have a nice little free mini course to get you going.

Just a suggestion. No guarantees.

p.s. -- another suggestion is that you drop the options trading for now. That's for more advanced traders. Start with either Futures or Forex. Choose one and get it down.

Reply With Quote
The following 2 users say Thank You to srgtroy for this post:

Old May 25th, 2016, 03:42 AM   #4 (permalink)
Elite Member
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Dorman
Favorite Futures: Currency Futures, ES
mk77ch's Avatar
Posts: 72 since Oct 2010
Thanks: 12 given, 57 received

i think a good way would be to go with this guy:

YourTradingCoach | Because You'd Rather Be Trading For A Living!

I never lose. I either win or learn.
Nelson Mandela
Reply With Quote

Old June 1st, 2016, 04:57 PM   #5 (permalink)
Trading Apprentice
Futures Experience: Intermediate
Platform: Sierra chart
Favorite Futures: Crude
Posts: 7 since May 2016
Thanks: 9 given, 10 received

Futures Edge on FIO
IMO, start a journal on here and ask members to critique your trading. Post up your charts and ask for feedback. Sometimes another set of eyes looking at your trading is all you need to turn that corner.

Reply With Quote
The following user says Thank You to Bader for this post:

Old June 2nd, 2016, 10:37 AM   #6 (permalink)
Trading Apprentice
Sonoma, CA, USA
Futures Experience: Advanced
Platform: NinjaTrader, TradeStation
Favorite Futures: ES
Posts: 32 since Aug 2010
Thanks: 0 given, 22 received

Suggestion...Learn how to finger rub dowse

Learn how to finger rub dowse...then you can ask your questions in any area and get a correct yes or no answer...

Here is a link on this...scroll down for description on finger rub dowse...
Deviceless Dowsing Archives | Discovering Dowsing

Take a look at The Divining Hand by Christopher Bird...a superb book on dowsing....why and how it works....discusses finger rub dowsing too...

Reply With Quote

Old June 2nd, 2016, 10:40 AM   #7 (permalink)
Elite Member
Dallas, TX, USA
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
Posts: 1,589 since Mar 2013
Thanks: 2,486 given, 1,649 received

Just follow these threads, if you haven't done it already...no one can help you except you and only your brain...good luck





Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:


futures.io > Futures Trading, News, Charts and Platforms > Traders Hideout > Beginners and Introductions > I am in Desperate Need of A Mentor

Thread Tools Search this Thread
Search this Thread:

Advanced Search

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

NinjaTrader 8: Programming Profitable Trading Edges w/Scott Hodson

Elite only

Anthony Drager: Executing on Intermarket Correlations & Order Flow, Part 2

Elite only

Adam Grimes: Five critically important keys to professional trading

Elite only

Machine Learning Concepts w/FIO member NJAMC

Elite only

MarketDelta Cloud Platform: Announcing new mobile features

Dec 1

NinjaTrader 8: Features and Enhancements

Dec 6

Similar Threads
Thread Thread Starter Forum Replies Last Post
Looking for a mentor staythecourse Beginners and Introductions 7 September 9th, 2014 05:26 PM
Trading Mentor rmiller863 Vendors and Product Reviews 4 January 20th, 2014 11:49 AM
Do you need a mentor to be successful? Big Mike Traders Hideout 115 January 30th, 2012 07:53 AM
Looking for an online mentor enjoyaol The Elite Circle 6 January 28th, 2012 08:30 PM
NATURE, OUR GREAT MENTOR. joyginy Psychology and Money Management 12 January 6th, 2010 12:34 PM

All times are GMT -4. The time now is 07:00 AM.

Copyright © 2016 by 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 2016-10-27 in 0.12 seconds with 19 queries on phoenix via your IP