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Looking for a Mentor/Guidance and General Advice
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Looking for a Mentor/Guidance and General Advice

  #21 (permalink)
Denver, CO
 
Trading Experience: Intermediate
Platform: TS and MD/IRT with IQFeed
Favorite Futures: ES, NQ, RUS, CL, US
 
Posts: 40 since Mar 2011
Thanks: 1 given, 18 received

forex imo is a higher timeframe market, esp if trading only us session.

most online training is a waste of time. most indicators are a waste of time.

figure out what timeframe you like to trade, learn how to read the tape, figure out what pivots you like to watch, and then practice, practice, and more practice your execution and management.

there is no silver bullet, and there are an infinite number of ways to trade. hardest part is finding out what suits YOU the best.

then the rest is headwork...

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  #22 (permalink)
Amsterdam Netherlands
 
Trading Experience: Advanced
Platform: Ninja Trader
Favorite Futures: Futures
 
Posts: 9 since Aug 2015
Thanks: 1 given, 12 received

Start futures Trading

First of all I should say think twice before you seriously start trading. The financial markets look like a beautiful rainbow, but only very few of us find the pot with gold!!

But if you are willing to work very hard during several years and cope with all the disappointments and frustration you have a chance.

Try to learn the right things right away. Order flow is not bad, and it's the vendors hype at this moment. I use it for confirmation but by itself it is pretty useless, imho.

A good start could be learning and understanding the profiles. You can take a look at MZ 3 Pack or AMS trading group; the last one gives you some free education during your trail period. They both have free trails and offer a nice suite of profile and OF tools.

Myself I use a combination of Trade The Plan tools, AMS and MZ Pack. Pic of my workspace attached to give you an idea.


Best Luck!!
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  #23 (permalink)
San Francisco, CA/USA
 
Trading Experience: Intermediate
Platform: Stage 5/daytradr
Favorite Futures: emini ES
 
Posts: 3 since Feb 2018
Thanks: 2 given, 6 received

Looking for Mentor


I looked for a long time too, trying various schools and teachers. I strongly recommend Jigsaw Trading and Peter Davies, as well as John Grady at No BS Trading. I have found that both are excellent resources. Good luck. PS - Lose Forex.

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  #24 (permalink)
Plainview
 
Trading Experience: Intermediate
Platform: TradeStation
Broker/Data: TradeStation
Favorite Futures: Futures
 
Posts: 7 since Mar 2012
Thanks: 0 given, 10 received

Have you considered building and trading automated or semi-automated strategies for trading the futures markets?
I have my own custom strategies/indicators/techniques, but you might check out
https://futures.io/trading-reviews-vendors/26335-kj-trading-systems-kevin-davey-ask-me-anything-ask-me-anything.html

His Strategy Factory gets pretty good reviews, I believe, though I have not tried it myself.

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  #25 (permalink)
Legendary market donator
Indianoplace, IN
 
Trading Experience: Intermediate
Platform: SierraChart
Broker/Data: CQG
Favorite Futures: 6B, 6E, 6J, NQ
 
Rrrracer's Avatar
 
Posts: 1,852 since Feb 2017
Thanks: 11,138 given, 6,662 received

Regarding order flow, DOMs, footprint charts, market geometry, volume profiles, fibs, so on and so forth... everyone has to spend the time discovering what works for and resonates with themselves. This really cannot be emphasized enough. All of these methodologies and more can be made to work, but only you can identify what makes sense to YOU.

If you're already familiar with forex, you might consider the micro currencies. M6E EUR/USD is the only one that has sufficient liquidity to day trade/scalp without major slippage; the others are suitable for longer holding periods.


This is not the last time you will be frustrated in this gig; trading is some damn rough water to navigate, you must find a way to deal with the ups and downs with an even keel instead of the emotional rollercoaster ride from depression to euphoria and back, on and on. It requires huge amounts of time, introspection and dedication. It can be a very lonely business. Most people don't make it.

Fortunately, we've got FIO. Everything one needs to make it happen is here, great education and a great community full of people willing to help.

All the best to you @cmac

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  #26 (permalink)
Vancouver, WA
 
Trading Experience: Intermediate
Platform: Jigsaw, MC.NET, ToS, TW
Broker/Data: St5/IronBm/Rithmic, TW, ToS
Favorite Futures: Emini ES
 
Posts: 23 since Apr 2019
Thanks: 142 given, 26 received

"Free" Training

I am still a beginner to trading but after spending around $5K or more on courses, I am not a beginner to trading courses.

If I was able to take the DeLorean back in time and start training again, I would probably start with Earn2Trade (discount for Elite members of futures-io) and TradePro Academy. No BS has a lot of free content but the course was under $100 and worth every penny. I like Peter Davies and Jigsaw but I am still on the fence about its functionality, compatibility, and usefulness.


If you search for TradePro Academy on YouTube or Goodsearch, there is a free 6-lesson course and morning market updates every morning (except this week when he is conducting some sort of seminar). And you don't have to commit a lot of funds up front. Membership is on a month-to-month basis and the rates are reasonable. George, the Principal, leads from the front and seems very generous with time and resources. He recommends Sierra Chart and provides his templates for you to download and use. He is a referring broker with AMP and has negotiated a deal with them to provide his referral fees to TradePro Members as discounts/special rates (no help to me since I am persona non grata to AMP).

The beauty of the Earn2Trade and TradePro combination is that I can trade with TradePro every day and interact with that community as I trade. And I get a one-on-one mentoring session each week with Earn2Trade. Both have great instruction and they seem to be very complimentary in what they provide.

No BS, TradePro, and Earn2Trade do not pump sunshine up your hind-end with promises of fast and easy success. Jigsaw is good with the reality check as well but the Jigsaw training does not seem as structured in terms of basic instruction up front and more advanced as you proceed. His target market seems to be prop and other experienced traders. His training videos are mainly webinars presented to various groups and not really geared to take a new individual retail trader from little or no knowledge to proficiency. At a minimum, I would say to start with No BS then decide about Jigsaw.


Make sure to take advantage of the futures io elite discounts when you can. My elite membership with futures io has more than paid off with discounts for very good training and products as well as the wealth of knowledge on this forum.

Hope this helps other newbies.

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  #27 (permalink)
Winnipeg
 
 
Posts: 5 since Sep 2017
Thanks: 1 given, 5 received

Keep on trucking

Hey Man,


Lots of us have been there in terms of promises not being fulfilled.

In this regard remember that its almost impossible to learn some one else's style/method bc we are all different in how we perceive and interpret info - especially the emotional and psychological side.

Try to take some things from every person/guru/video/book - that's what I've done. I take a little of what makes sense to me and use that to keep building and refining a strategy.

Trading forex or futures is a personal journey and a skill that will be unique to you once you start to have epiphany moments - and you will.

Trading rooms and listening to others too much will cause you to second guess what is a good fit for you so personally I don't use them but they may be great for camaraderie once your trades are done.

Good Luck!

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  #28 (permalink)
los angeles, ca/usa
 
Trading Experience: Intermediate
Platform: Metatrader 5/CQG
Broker/Data: AMP FUTURES/CQG
Favorite Futures: ES
 
Kiks's Avatar
 
Posts: 44 since Oct 2012
Thanks: 110 given, 27 received

Orderflow basics by John Grady

This video from John Grady explains orderflow in simple terms.
I specially like the part about the effect of giving up the bid/ask spread to your P&L.

https://youtu.be/iWwxMokC0F8

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  #29 (permalink)
PERU/CALLAO
 
Trading Experience: Advanced
Platform: Various
Broker/Data: Various - (MC, CQG, IQFeed, IB)
Favorite Futures: US Futures and Equities, US Options, ETFs, Commodities, EUR/USD
 
Minds's Avatar
 
Posts: 82 since May 2013
Thanks: 55 given, 30 received

I agree

Nicely said


cleon View Post
forex imo is a higher timeframe market, esp if trading only us session.

most online training is a waste of time. most indicators are a waste of time.

figure out what timeframe you like to trade, learn how to read the tape, figure out what pivots you like to watch, and then practice, practice, and more practice your execution and management.

there is no silver bullet, and there are an infinite number of ways to trade. hardest part is finding out what suits YOU the best.

then the rest is headwork...


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The following 2 users say Thank You to Minds for this post:
 
  #30 (permalink)
PERU/CALLAO
 
Trading Experience: Advanced
Platform: Various
Broker/Data: Various - (MC, CQG, IQFeed, IB)
Favorite Futures: US Futures and Equities, US Options, ETFs, Commodities, EUR/USD
 
Minds's Avatar
 
Posts: 82 since May 2013
Thanks: 55 given, 30 received

Learning or making money


Hello,
I got a question... are you looking to...

1. Make money trading consistently or
2. To learn how to trade or
3. Learn to make money in the business of trading or
4. Become a profitable and consistent trader yourself with your own strategies....

The first thing I would not pay someone for trading education that is not proven by third parties.


cmac View Post
I've been watching the forex market for about 10 years now. I haven't really been focused on trading all those years though, it was mostly just as a background hobby. I recently joined a forex group with a teacher who claimed to be a world class trader and would teach us all these amazing trading techniques, blah blah blah. Long story short he was a scammer. I didn't lose any money but my confidence is now at an all time low and my frustration levels are at an all time high. I've been aware of futures for about a year and a half now and I figure maybe now is the time to jump in.

I've got a demo account with Ninjatrader right now just trying to figure out how futures work and how they compare with forex. I've watched some videos on order flow and footprint charts and every vendor makes their software look like the best. And it's seeming very hard to get any actual education through the free info. I don't really want to buy a bunch of different software just to find out they are not worth it. I got the auction dashboard software a long time ago since it was cheap but it's just confusing and there is no support or anything. Now I'm just confused about what my next steps should be.

I was thinking of maybe opening an account with sierra charts since the monthly cost isn't that much and trying to trade the new micros. Maybe I can try to learn some order flow trading while watching live. But I have no experience with that so it feels like it would be an expensive waste of time.

Sorry the long post I guess I'm just feeling down and lost and looking for someone to help me out. Hopefully this long rambling has made some sort of sense and thanks for the help.


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