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


Starting to Trade and Getting Education
Updated: Views / Replies:3,440 / 37
Created: by johny1971 Attachments:2

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
 2  
 
Thread Tools Search this Thread
 

Starting to Trade and Getting Education

  #1 (permalink)
Elite Member
Omaha, NE/USA
 
Futures Experience: Beginner
Platform: S5 Trader; Jigsaw; TOS
Broker/Data: Stage 5
Favorite Futures: Indices; Treasuries
 
johny1971's Avatar
 
Posts: 64 since Sep 2016
Thanks: 128 given, 43 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
The following user says Thank You to johny1971 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)
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: Beginner
Platform: S5 Trader; Jigsaw; TOS
Broker/Data: Stage 5
Favorite Futures: Indices; Treasuries
 
johny1971's Avatar
 
Posts: 64 since Sep 2016
Thanks: 128 given, 43 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: 72 since Nov 2013
Thanks: 45 given, 42 received


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: Beginner
Platform: S5 Trader; Jigsaw; TOS
Broker/Data: Stage 5
Favorite Futures: Indices; Treasuries
 
johny1971's Avatar
 
Posts: 64 since Sep 2016
Thanks: 128 given, 43 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: 72 since Nov 2013
Thanks: 45 given, 42 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 2 users say Thank You to Wartrace for this post:
 
  #8 (permalink)
Elite Member
Omaha, NE/USA
 
Futures Experience: Beginner
Platform: S5 Trader; Jigsaw; TOS
Broker/Data: Stage 5
Favorite Futures: Indices; Treasuries
 
johny1971's Avatar
 
Posts: 64 since Sep 2016
Thanks: 128 given, 43 received

Well, I have been at this education process for about four months and am pretty satisfied the way things are going. Taking advice from FIO directly or where it leads me has worked out very well.

Accomplished: read TYWTFF and TITZ and am a third of the way into Link's High Probability Trading, finished the 2014 edition Al Brooks online course, opened an account with Stage 5 and have a couple months of sim of M6E, and I have a watched a bunch of webinars and AMAs and a week of Al Brooks TR, also I have a bit more direction for the future of my education, also started Adam Grimes course

Good Things done so far: staying dedicated, learning the need for calmness, coming up with a mechanical plan and doing an ok job of keeping track of trades - challenge being what all info to keep track of

Bad things done so far: not focused enough, jumping from thing to thing as well as not reviewing what all I am exposed
to, need to allocate a specific time of day to educate, need to work on organization

Goals:
1. Finish Grimes, Link, and October 2016 of AB TR
2. Sim at least 3 times a week in morning (went on a literal vacation, then got back and it was difficult getting up early each day, also with work I will miss some mornings)
4. Set a study time, other than the pockets I can find during the day, i.e., at nine pm turn on either Al Brooks or Grimes except for Sat and Sun
5. Review something at 10:50 each nite for 30 mins
6. Allow myself one sidetrack a day. So time on surfing net or a webinar or correspondence doesn't get in the way of larger, more pressing goals.

I am pretty happy with these goals. Learning to separate what is necessary now versus later should be helpful in the future.

Reply With Quote
 
  #9 (permalink)
Elite Member
Boston MA
 
Futures Experience: Beginner
Platform: NT, TOS
Favorite Futures: ES
 
patrader65's Avatar
 
Posts: 39 since Jan 2017
Thanks: 42 given, 63 received

If you have taken the route of Al Brooks, I would advise you stay the course based on my personal experience. Look no further for technical analysis. It will pay off but you need to be patient and put in the time. I would also recommend reading Als' books. They are a tough read, but will give you tremendous insight into PA.

Get deeper, pick one or two setups like MTR or H2L2 entries and try to master all the subtleties and nuances surrounding it. Over course of time, you will get a sense of what reliable setups look like and the ones you need to skip (the later is more important).

I would also advise you try to sim trade the ES using NT or other platform and compare your observations with Al's end of day bar by bar analysis. In some ways, this is the closet it gets to having your progress evaluated by an expert. If you are going to trade another instrument, you are going to be pretty much on your own. But, I am speaking from my own experience.

Being able to read price action alone is not enough to become profitable. It is just one aspect. Trade management and risk management are things you need to figure out. Al has some good guidance on those, but you'll need a lot of screen time and practice to get better at those. In some sense, it is an eternal journey, but it is a lot of fun if you plan and structure your learning.

In terms of books, I would also recommend:

Art of Learning - Josh W.
Psychology books from Brett S.

Wish you the best in your journey.

Reply With Quote
The following 4 users say Thank You to patrader65 for this post:
 
  #10 (permalink)
Elite Member
Wiltshire, United Kingdom
 
Futures Experience: Beginner
Platform: daytradr
Broker/Data: Working on a TST combine
Favorite Futures: ES
 
matthew28's Avatar
 
Posts: 374 since Sep 2013
Thanks: 341 given, 429 received


@johny1971

Also recommend screen recording your trading sessions so you can replay them at weekends. I tend to focus on trades that went badly and could of been handled better etc. and review those.
BB Flashback Express is a good recorder. It is free for the basic record and play version without editing capability which is the one I use.
https://www.flashbackrecorder.com/fbexpress/

Reply With Quote
The following 3 users say Thank You to matthew28 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)

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

Dec 7

Linda Bradford Raschke: TBA

Elite only

Ran Aroussi: TBA

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 Emini 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 12:43 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 2017-11-20 in 0.07 seconds with 19 queries on phoenix via your IP 54.81.139.56