Hey folks. I'm new here and just wanted to introduce myself. I just completed my MBA this summer and had some investment courses that really got me interested in trading. Too bad they didn't offer a day trading course . So over the past couple months I've been in info absorption mode trying to learn all that I can and lots of exercises in sim mode. I still haven't gone live yet but I should be hitting my sim goals in the very near future.
I've been reading and learning a lot from all of you. Thanks for that. There seems to be many intelligent folks on this forum. You know the saying... To be great, hang out with great.
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I think the reason intraday trading is not taught in school is that the main requirement (screen time) does not fit into the typical semester.
If I where in your shoes the first thing to do would be start watching the some of the trading webinars right here at Futures.io . I have found that the presenters here have been vetted to weed out shysters and scam "educators"; Big Mike only allows useful presentations.
Favorite Futures: Currently European and US equities
Posts: 432 since Dec 2013
Thanks: 222 given,
My advise if you're new to all this don't spend any money, read up on free stuff until you know the difference between the garbage as the good stuff. Also plenty of great literature on amazon books, if you have a particular area your interested in there's plenty of good recommendations on the forum or if not feel free to ask.
I had a neighbour come up to me recently and tell me they're now a 'trader'. I smiled (pleased that I knew someone doing something similar) and asked how it was going and they've basically told me they'd booked up to go on a £10k course by some snake oil salesman to teach some super duper indicator garbage. The smile disappeared and I told them to get their money back if they could, but unfortunately this person chose to ignore my advise which was of course their right. I've not spoken to them but I can guess it didn't work out as expected, as online their occupation has gone back to accountant. Caveat emptor.
Ps.. Not saying all vendors are bad, just do your research for yourself and you'll be on your way and probably a bit more cash to play with too :-)
Good luck to you matey!
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You should purchase the elite membership at FIO for $100. It will give you access to a lot of material and the value of it is damn worth it.
You should start a journal of your sim trades either on the Trading journal section or the Elite journal section. This will get you into some very good habits and will allow others to review your trades and help you with your methodology, among many other benefits!
As a disclaimer I am not affiliated with FIO apart from posting here every day
Yesterday's excellence is today's standard and tomorrow's mediocrity
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I am not suggesting anyone do this however I was quite surprised that almost ALL of the great trading books can be found on the internet by adding PDF after the title. You have to be selective on the source but forex factory has a lot of them.
Thanks folks! My focus for now is futures. I'll definitely join the elite and take full advantage of this forum. Anyone got any particular material in mind that they prefer? Anyone read any books that were particularly helpful in making them profitable?
I honestly can't think of a single book that will help make you profitable. You need to spend your time in front of the screen. Become a discretionary trader. You need to gain experience in the market you wish to trade and put in the hours. If there were a book we would all be rich! There is no easy way.
Experience and the lessons learned are the only thing that matters.
Last edited by Wartrace; November 21st, 2016 at 06:28 AM.
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