Starting to Trade and Getting Education - Beginners and Introductions | futures.io
futures.io futures trading


Starting to Trade and Getting Education
Started: by johny1971 Views / Replies:387 / 6
Last Reply: 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

Reply
 
Thread Tools Search this Thread
 

Starting to Trade and Getting Education

  #1 (permalink)
Elite Member
Omaha, NE/USA
 
Futures Experience: None
Platform: S5 Trader
Favorite Futures: Indices
 
johny1971's Avatar
 
Posts: 25 since Sep 2016
Thanks: 79 given, 14 received

Starting to Trade and Getting Education

This is a post to share ideas about what works and doesn't when starting out one's trading business. The main concern is content of education.

It seems there are a lot of webinars that offer some really great info. I have found, and by no means is this a dis on all those webinars I have watched because they are extremely helpful, that they provide necessary motivation and general global guidance.

Now, I am at a point where I require some more technical knowledge to which I can build my trading style and career from. For instance, the Al Brooks price action course is great at this and I imagine the noBSdaytrading courses will provide this as well. Both these courses offer extreme value IMO. For instance, I went to a three day workshop and they wanted a minimum of over 10000.00 for basically an indicator and all that surrounds it, including the opportunity to pay more money for more ultra-expensive courses. I am interested in learning set ups and trade management as well as account management.

So now I am at the point where I wonder if there is really good technical info in the context of auction theory that will aid me in looking at charts or reading the DOM and knowing where to enter, et cetera. I watched a good webinar tonight on market profile and it had a key message of keeping your knowledge basic. So, now I am faced with the counterintuitive move given my desire to learn about auction theory to wait a long while before studying Market Profile since I am focusing on price action and order flow. Also, I am not so sure I want to get involved with scalping, but I have heard it is key for the beginner to learn. As it seems, I have a lot on the table and really need help in putting all this into some kind of prioritization so I can follow a linear path to preparation to trade. Oh, and I had everything set on the ES and today I learn trade the CL since there are more ticks. Order flow wise it makes sense to go with the treasuries as, from what I hear, they are a bit slower than the ES??

I have a background in rule based systems and find that what I am learning is discretionary methods and that is a bit of a shocker as I have led myself to prefer directions and roadmaps as opposed to discretionary methods. So, knowing more about the nature (advantages and disadvantages or theory) of discretionary trading would be cool.

I hope I haven't stepped on any toes. Overall, the futures.io community and that which I have picked up from it has been extremely rewarding in just a month!! Just thought I would put all this here in case someone else has cleared these hurdles already. Any response to any of this would be great. Thanks community!

Reply With Quote
 
  #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)
Trading Apprentice
Madrid
 
Futures Experience: None
Platform: metatrader
Favorite Futures: gold
 
Posts: 12 since Sep 2016
Thanks: 7 given, 2 received


Hi, I also believe that order flow is very interesting. I advise you to visit the websites of bookmap and auction dashboard where you'll find a lot of information.

Reply With Quote
The following user says Thank You to Necroghost for this post:
 
  #4 (permalink)
Elite Member
Omaha, NE/USA
 
Futures Experience: None
Platform: S5 Trader
Favorite Futures: Indices
 
johny1971's Avatar
 
Posts: 25 since Sep 2016
Thanks: 79 given, 14 received

I am stilling watching webinars and have found they provide necessary global guidance. They are a great way to change the pace of things and enhance my learning. Also, they are a great way to breathe the air.

After two months, I have finished the Brooks course and am spending at least two hours each morning simming M6E. I am focusing on learning, learning, and learning. I am most concerned with placing trades based on PA reasons and letting them go to hit my target or stop. I could spend time on a myriad of stats and/or indicators, but I have to constantly remind myself to focus on the PA only - though, I do keep a small amount of stats relative to when I first started simming 2 weeks ago. To that extent, besides reviewing my trades I spend at least an hour a day going over a BTR file.

I am hoping PA is one of those bodies of knowledge that come to fruition instantaneously after a lot of time in the dark. Most say it is that way, sorta. One current situation: tomorrow I switch to 5 min bars from 3 mins. The 3 min bars are not giving me time to think and that is key to learning, speed is not a priority. I liked the 3 mins because I wanted more trade opportunities. But, now I know there a many, many opportunities.

Also, I spend time planning for the future. I check out FIO, hit google for answers to questions, and try to map the road ahead. I am half way through TYWTFF (the risk part is the best, then the psychology stuff - knowing I trade my beliefs helps tremendously in staying calm during a trade), once that is done it is Volman then Brooks new edition.

After it seems I have a grip on PA, it'll be Order Flow (most interested in reading T&S) then Price Levels. I have plenty of time so I plan to use it. But, I need to balance that with results.

Enjoying the journey, glad I have a space for planning, commitment, and accountability.

Reply With Quote
 
  #5 (permalink)
Elite Member
Wartrace,TN usa
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: 6E
 
Posts: 68 since Nov 2013
Thanks: 43 given, 40 received

Futures Edge on FIO

johny1971 View Post
I am stilling watching webinars and have found they provide necessary global guidance. They are a great way to change the pace of things and enhance my learning. Also, they are a great way to breathe the air.

After two months, I have finished the Brooks course and am spending at least two hours each morning simming M6E. I am focusing on learning, learning, and learning. I am most concerned with placing trades based on PA reasons and letting them go to hit my target or stop. I could spend time on a myriad of stats and/or indicators, but I have to constantly remind myself to focus on the PA only - though, I do keep a small amount of stats relative to when I first started simming 2 weeks ago. To that extent, besides reviewing my trades I spend at least an hour a day going over a BTR file.

I am hoping PA is one of those bodies of knowledge that come to fruition instantaneously after a lot of time in the dark. Most say it is that way, sorta. One current situation: tomorrow I switch to 5 min bars from 3 mins. The 3 min bars are not giving me time to think and that is key to learning, speed is not a priority. I liked the 3 mins because I wanted more trade opportunities. But, now I know there a many, many opportunities.

Also, I spend time planning for the future. I check out FIO, hit google for answers to questions, and try to map the road ahead. I am half way through TYWTFF (the risk part is the best, then the psychology stuff - knowing I trade my beliefs helps tremendously in staying calm during a trade), once that is done it is Volman then Brooks new edition.

After it seems I have a grip on PA, it'll be Order Flow (most interested in reading T&S) then Price Levels. I have plenty of time so I plan to use it. But, I need to balance that with results.

Enjoying the journey, glad I have a space for planning, commitment, and accountability.

I have two suggestions.
1) If you are in sim mode you might as well sim trade the 6E instead of the M6E. Why? The 6E has 10 times the volume and you will be able to see the order flow a little better.

2) Have you looked at Jigsaw trading's free educational material? Free Tape Reading and Order Flow Training Materials Even if you do not buy the Jigsaw tools the educational material is very useful.

Reply With Quote
 
  #6 (permalink)
Elite Member
Omaha, NE/USA
 
Futures Experience: None
Platform: S5 Trader
Favorite Futures: Indices
 
johny1971's Avatar
 
Posts: 25 since Sep 2016
Thanks: 79 given, 14 received

Hey Wartrace!

Thanks for your reply. I appreciate the feedback.

Currently, I trade the M6E because the first day I am live, far away from now, I plan to trade that since the costs are so low and it'll help to segue into using cash. It could be advantageous to gain familiarity with it now and also learn how I gained familiarity to ease problems associated with it so switching instruments.

I have checked out the Jigsaw educational material, free and paid for, and it is great. I plan to get to more of it eventually. And, the nobs stuff as well. At least the least expensive intro course first. I really am approaching my education like this as I am inspired by the fact some people pay thousands for education, and I am getting probably more value at a lot less cost, and learning more about me, which should contribute to any trading success.

I have considered trading the 6E eventually. I am wondering how did you get to trading that?

Also, are you trading PA? Speaking of free material, Mack's youtube videos seem accessible. I checked out Lance Beggs free pdf and it seems you have to know his stuff before understanding it. I put some lines on my chart this morning and it seemed to help - but, I would think Mack's stuff is a bunch more nuanced then that, afterall there are posts that say it does time time to learn it.

Thanks again!

Reply With Quote
 
  #7 (permalink)
Elite Member
Wartrace,TN usa
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: 6E
 
Posts: 68 since Nov 2013
Thanks: 43 given, 40 received


johny1971 View Post
Hey Wartrace!

Thanks for your reply. I appreciate the feedback.

Currently, I trade the M6E because the first day I am live, far away from now, I plan to trade that since the costs are so low and it'll help to segue into using cash. It could be advantageous to gain familiarity with it now and also learn how I gained familiarity to ease problems associated with it so switching instruments.

I have checked out the Jigsaw educational material, free and paid for, and it is great. I plan to get to more of it eventually. And, the nobs stuff as well. At least the least expensive intro course first. I really am approaching my education like this as I am inspired by the fact some people pay thousands for education, and I am getting probably more value at a lot less cost, and learning more about me, which should contribute to any trading success.

I have considered trading the 6E eventually. I am wondering how did you get to trading that?

Also, are you trading PA? Speaking of free material, Mack's youtube videos seem accessible. I checked out Lance Beggs free pdf and it seems you have to know his stuff before understanding it. I put some lines on my chart this morning and it seemed to help - but, I would think Mack's stuff is a bunch more nuanced then that, afterall there are posts that say it does time time to learn it.

Thanks again!

I looked at several futures contracts specifically at how many contracts are typically resting on the limits. Oil (CL) seemed too thin for me and it moved too quick. On the other end of the spectrum the Bonds seemed too thick for me and didn't move fast enough. The 6E was just right for me. I am also a "morning person" and intended to trade in the early AM and the 6E is very active in the early morning hours.

I have read Bob Voleman's books, I own several of Al Brook's books (difficult/painful to read ) but do not use price action in my trading. I just use the DOM/Tape and a footprint chart with a couple of moving averages on it.

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

Reply



futures.io > > > > Starting to Trade and Getting Education

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

2016 True Edge Awards: Voting is open until Jan 21!

Now
 

Bookmap New Indicator Panel, Cumulative Delta, Order Flow demo

Jan 17
 

An Afternoon with FIO member Massive l

Elite only

Leo Murphy: Making sense of Technical Analysis and Random Walk

Elite only
 

FuturesTrader71: Ask Me Anything

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Minimum starting funds to learn to trade Big Mike Traders Hideout 106 December 8th, 2016 07:22 PM
Starting education in futures jcherra Beginners and Introductions 2 March 9th, 2016 11:14 AM
Starting to Trade European Markets bojangle Index Futures Trading 5 March 24th, 2013 10:17 PM
Help starting to trade futures tmoorehead Beginners and Introductions 11 May 29th, 2012 08:36 AM


All times are GMT -4. The time now is 09:43 PM.

no new posts
Page generated 2017-01-17 in 0.14 seconds with 19 queries on phoenix via your IP 54.146.139.201