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


Beginners and Introductions

Created June 9th 2019 by cmac
Updated November 9th 2019 by martinhunting
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Looking for a Mentor/Guidance and General Advice

  #81 (permalink)
Phoenix Arizona
 
Trading Experience: Beginner
Platform: Global Zen Trader
Broker/Data: GFF Brokers
Favorite Futures: Crude CL
 
CrudeDude's Avatar
 
Posts: 86 since May 2019
Thanks: 13 given, 76 received

Thanks again, I liked your suggestion. I will do that.


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  #82 (permalink)
NY NY/USA
 
 
Posts: 11 since Dec 2017
Thanks: 2 given, 7 received

One last piece of advice I could give. Trading should be KISS = keep it simple stupid


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  #83 (permalink)
Provo + UT/USA
 
 
Posts: 5 since Jun 2019
Thanks: 0 given, 6 received

Tradovate


I have had a good experience with Tradovate as a broker so far, I would recommend them as a fairly low cost way to trade the micros. I am in no way affiliated with them by the way.

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  #84 (permalink)
Vilnius Lithuania
 
Trading Experience: Intermediate
Platform: Jigsaw, Sierra, ExoCharts
Favorite Futures: RTY, MGC
 
Posts: 13 since May 2019
Thanks: 8 given, 9 received


3lliot View Post
Frequent large market orders of mostly one type (buy / sell): Conviction
Market orders consistently overwhelming limit orders: Momentum
Frequent large market orders failing to overwhelm limit orders: Absorption
Market orders becoming smaller & less frequent as price moves: Exhaustion

So much said with so few words

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  #85 (permalink)
Mumbai, India
 
 
Posts: 325 since Jan 2019
Thanks: 454 given, 669 received

Learner tryin to contribute here

You have been tracking markets for years now, so there is very little I can tell you that you probably already don't know, so I'll try to compress the info here and I'm also no expert, just shading some light on my own experience in here.

1. Its really not about mentors or indicator or any fancy systems.

2. If you drive, I'm sure you know what it means to "feel the engine", not kidding at all, trading is like that too.

3. I've taken expensive courses and hopped indicators in first year of my trading, its hell like experience! It all came to end when I started coding the logic behind indicator and indicators themselves. Suggestion here, read threads here like >> these <<

4. There is no need to buy any particular software or indicator till there is specific need you have that needs fulfilling. For example, if you get comfortable with OrderFlow it is advisable to invest in good software as well data. Where I come from it can be quite expensive, sometimes more than what retailers can even afford.

5. Referring to point 3 here again, I'm not suggesting that you must start coding but suggesting to start understanding logic behind things.

6. Use things which logically appeal to you, if you don't want to spend money start a journal with sim/demo (I do it on this very site)

7. At the end of the day, successful system might not make money for average manual trader, but a half decent system might make a good trader quite a lot of money. Trading is all about who is seating in the chair and operating the terminal than the terminal itself.

Find what makes sense to you, find what logic you "feel comfortable" trading, and then start a journal. Its fine even if its a sim, just watching formula one race wont enable me to take part in it, you will have to get dirty somewhere. I chose way of mechanic haha

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  #86 (permalink)
Ottawa Ontario
 
 
Posts: 2 since Mar 2018
Thanks: 1 given, 0 received


redneck4Christ View Post
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.

I was wondering if you could tell me more about TradePro Academy? Are you still enrolled? Is all just videos or is there actual human interaction? Do you still recommend it?

Thanks!

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  #87 (permalink)
Vancouver, WA
 
Trading Experience: Intermediate
Platform: Jigsaw, MC.NET, ToS, IB
Broker/Data: St5/IronBm/Rithmic, IB, ToS
Favorite Futures: Emini ES
 
Posts: 56 since Apr 2019
Thanks: 505 given, 87 received

TradePro Academy


jdan View Post
I was wondering if you could tell me more about TradePro Academy? Are you still enrolled? Is all just videos or is there actual human interaction? Do you still recommend it?

Thanks!

JDan,

I left TradePro Academy at the end of September. But I do still recommend it for new traders. There are a lot of classes that were taped in a Zoom-type setting where TRADEPRO (all-caps keeps happening automatically) members interacted with George Papazov as he was recording the lessons -- lesson then around 10 - 20 minutes of questions. These classes are very valuable because for most, I believe trading requires knowledge and discipline to be successful and George instills both very well.

You can see the beginning of the Zoom meeting/chat sessions on YouTube every morning around 6 AM, barring schedule conflicts for George and technical difficulties. At the end of the YouTube session, George usually turns toward his workstation, says goodbye to YouTube, and begins addressing the private Zoom session. Normally, the first step is to have various traders discuss various markets although they were focusing mainly on S & P 500 E-Minis and Crude Oil, they have nicknamed "Crudella". For their crude oil trading, they have a very experienced and entertaining trader named Stephen Box whom they refer to as the "Box-man". He trades crude oil using the ThinkorSwim platform and he takes you though preparation and occasionally provides suggestions/signals.

There was interaction on the Zoom session that ran (I don't know if something has changed since I left) from 9 AM Eastern Time to 11 AM Eastern Time. George, Stephen, Mark, and Victorio were pretty good about responding to posts on the Zoom session and the Discord chat. They had migrated the Discord chat to a more dedicated trading chat forum on the TRADEPRO website around the September 2019 timeframe. The crew also took the Zoom session through preparation for trading per the video lessons and discussed market price action as it developed. This is especially good for newer traders.

For me, this was sort of like riding a bicycle. At first, it was good to have them beside me steadying me and instructing me, but after I learned to pedal and stay upright, they were sometimes a bit of a distraction. Then other forums like the Convergent FuturesTrader71 forum and TheoTrade made more sense. Mordad conducts the Convergent forum more like a prop trading group, the cost is a lot lower, and with your Convergent subscription comes a TradeTheNews subscription that is discounted far more than you can get TradeTheNews alone any other way I am aware of.

Hope this helps.

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  #88 (permalink)
Ottawa Ontario
 
 
Posts: 2 since Mar 2018
Thanks: 1 given, 0 received


redneck4Christ View Post
JDan,

I left TradePro Academy at the end of September. But I do still recommend it for new traders. There are a lot of classes that were taped in a Zoom-type setting where TRADEPRO (all-caps keeps happening automatically) members interacted with George Papazov as he was recording the lessons -- lesson then around 10 - 20 minutes of questions. These classes are very valuable because for most, I believe trading requires knowledge and discipline to be successful and George instills both very well.

You can see the beginning of the Zoom meeting/chat sessions on YouTube every morning around 6 AM, barring schedule conflicts for George and technical difficulties. At the end of the YouTube session, George usually turns toward his workstation, says goodbye to YouTube, and begins addressing the private Zoom session. Normally, the first step is to have various traders discuss various markets although they were focusing mainly on S & P 500 E-Minis and Crude Oil, they have nicknamed "Crudella". For their crude oil trading, they have a very experienced and entertaining trader named Stephen Box whom they refer to as the "Box-man". He trades crude oil using the ThinkorSwim platform and he takes you though preparation and occasionally provides suggestions/signals.

There was interaction on the Zoom session that ran (I don't know if something has changed since I left) from 9 AM Eastern Time to 11 AM Eastern Time. George, Stephen, Mark, and Victorio were pretty good about responding to posts on the Zoom session and the Discord chat. They had migrated the Discord chat to a more dedicated trading chat forum on the TRADEPRO website around the September 2019 timeframe. The crew also took the Zoom session through preparation for trading per the video lessons and discussed market price action as it developed. This is especially good for newer traders.

For me, this was sort of like riding a bicycle. At first, it was good to have them beside me steadying me and instructing me, but after I learned to pedal and stay upright, they were sometimes a bit of a distraction. Then other forums like the Convergent FuturesTrader71 forum and TheoTrade made more sense. Mordad conducts the Convergent forum more like a prop trading group, the cost is a lot lower, and with your Convergent subscription comes a TradeTheNews subscription that is discounted far more than you can get TradeTheNews alone any other way I am aware of.

Hope this helps.

Yes, that helps a ton!! Much appreciated. Are you a full time trader now, have you become consistently profitable?

I come from an online marketing background and most of the courses in that field are snakeoil, lots of promises and mostly fluff. So I feel pretty jaded and cynical with courses. They give you the recipe but not the secret sauce, and they don't actually make money doing the work, they just make money from selling courses. I'm sure there are lots trading courses the same, they know people are willing to pay big money to learn, so they take advantage.

So its tough to navigate a new industry. Thanks for helping out!

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  #89 (permalink)
Vancouver, WA
 
Trading Experience: Intermediate
Platform: Jigsaw, MC.NET, ToS, IB
Broker/Data: St5/IronBm/Rithmic, IB, ToS
Favorite Futures: Emini ES
 
Posts: 56 since Apr 2019
Thanks: 505 given, 87 received

Trader Training


jdan View Post
Yes, that helps a ton!! Much appreciated. Are you a full time trader now, have you become consistently profitable?

I come from an online marketing background and most of the courses in that field are snakeoil, lots of promises and mostly fluff. So I feel pretty jaded and cynical with courses. They give you the recipe but not the secret sauce, and they don't actually make money doing the work, they just make money from selling courses. I'm sure there are lots trading courses the same, they know people are willing to pay big money to learn, so they take advantage.

So its tough to navigate a new industry. Thanks for helping out!

My pleasure in sharing my experiences. I think every course I have taken has helped in some way but I share in your cynicism about many of them. And many courses are not good about teaching foundational concepts. They may sell you their version of secret sauce but no burger to put it on.

I like the quote from Paul Tudor Jones: "The most important rule of trading is to play great defense, not great offense. Every day I assume every position I have is wrong. I know where my risk points are going to be. I do that so I can define my maximum possible drawdown. Hopefully, I spend the rest of the day enjoying positions that are going my direction. If they are going against me, then I have a game plan for getting out."

My takeaway as it relates to our discussion is that knowing the basics of market movement (volume, price action, etc...) and practicing good risk management so you know what to do when you are in a trade IS the secret sauce and finding a "good" entry point is secondary and somewhat elusive.

"The Complete Trading Course" by Corey Rosenbloom has been a big step in advancing my learning.

My day-job is a consulting engineer and I have not become consistent enough to make trading my day-job and engineering my part-time job, yet. But that is my goal.

Take care and God speed your learning.

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  #90 (permalink)
melbourne victoria australia
 
Trading Experience: Advanced
Platform: ninjatrader
Broker/Data: FXCM
Favorite Futures: AUS200
 
Posts: 80 since Apr 2016
Thanks: 42 given, 89 received

Reading the market Contextually.


I bought the” OpenTrader” course about 3 years ago and I want to say it is one of the better ones out there for sure. You are paying for a very comprehensive program. Structured videos and written lessons, practice drills, and a weekly coaching webinar . The course focuses on market structure using Volume profiling on different time frames to find support and resistance levels within a contextual framework. Also setupts and executions, They also teach a foundation course in trading psychology . I do recommend the course if you are just starting out as it will teach you to read the market contextually.

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