I am interested in trading for a very long time. Started with forex but now thinking futures could work better with me.
My main issues that stops me from trading?
1) Information overload
So many people say you can find all content in the Internet, but after reading a lot of that - It's messing my head.
2) Being too technical
Oh yeah - I have it thanks to working in IT. Where people ask no questions - I could ask 100 questions.
3) No good strategy
I've read about ichimoku, gann, elliot wave, fibo, S&R, S&D, range bar, renko.. name it.
But the main reason I don't trade yet is that I don't have a working trading plan/strategy.
When to enter, when to exit, how to manage my trade, what MM to use.
I work fulltime so it is hard for me to watch charts for a long time.
I switched to futures and planning to stay with them.
I was first introduced to ES so that's what I currently watch every day.
Hoping to learn from you guys so I could finally start trading real !
Yep, there is a ton on the web. I am trying my best to say focused by stopping surfing and starting reading. I am doubling down on Jigsaw and noBSdaytrading to introduce myself to order flow trading. Beware the scams! I err on the side of you will have to learn and figure it out on your own rather than take my proven stuff.
Having tried swing trading I am pretty skeptical of full 100% TA approach. It seems too distant from the action.
Your idea to start watching the ES seems to be a good one. I have zero experience with futures and maybe watching ES now will help. I want to get my system running with NinjaTrader and Jigsaw so I can start watching the DOM.
In the meantime I am getting ready to order a trading computer from EZ. They have been helpful so far.
The following user says Thank You to johny1971 for this post:
It is hard to stay focused to stop surfing at the beginning. And another thing - where I live - Metatrader 4 is the most popular trading software. Almost nobody uses NinjaTrader so things like Level 2, DOM, OrderFlow were not known to me. They still are. Ok - I understand level 2 because its easy, but the rest is like a magic for me now.
But also - I don't want to learn everything. I want to keep it as simple as possible and use only what's needed for me to trade. I cannot trade full day so using every aspect of trading will be no help for me.
Futures are still pretty new for me so I don't know all products yet. But honestly - If I'll make bigger profits than losers - then I can trade even eggs or potatoes
But I need to start somewhere and start trading real. Making a trading plan that will give me at least statistical advantage is my problem.