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Where should I start my journey?
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Where should I start my journey?

  #11 (permalink)
Elite Member
Münster Germany
 
Trading Experience: Intermediate
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Lavrans View Post
Yhea thats what I meant. Sorry If I made myself misunderstood.

Yes I am, I hope you are voting for Norway! hehe

Its a very hard game for the German Players. Norway is very strong.

The biggest risk you can ever take is not betting on yourself!
(Bill Williams)
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  #12 (permalink)
Elite Member
Oslo Norway
 
Trading Experience: Beginner
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OldGerman View Post
Its a very hard game for the German Players. Norway is very strong.

Thanks!

May the best team win

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  #13 (permalink)
Elite Member
desert CA
 
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Lavrans View Post
Hello everybody!
..

But eventually threw in the towel as I thought everything I read in the books and watched on youtube was complete and utterly nonsense, made up by people who didn’t knew how to trade profitably themself and where basically just scamming people.
...

What I’m wondering is if someone could be so kind as to help me a little on my way and answer a few questions?

1.
What do you think my first steps should be to learn how to be a profitable commodity trader?

2. I have found some books that looks good, do you recommend me to read these:
A traders first book on commodities.
Hot commodities.
Commodities for dummies.
The little book that still beats the markets?

3. What broker and software do you recommend?

4. Can you please explain a little bit about your methodologies? Like a little step for step guide about what you generally do before each trade?

Thank you very much in advance my friends!

Hello there. I completely agree the majority if not all the vendors of retail trading methods, "schools/academies" and indicators, are charlatans perpetuating scams on newcomers to retail trading because that's how their rotten industry thrives and survives. I had long suspected all of them didn't trade for a living. And my thoughts were finally justified and confirmed with Emmett's www.tradingschools.org reviews which has also helped the CFTC and FBI arrest and indict some of the more egregious scammers. And it just makes common sense. A real profitable trader would have no pressing need to teach strangers even for a fee business. At best, they would probably only teach significant others or closest friends. There are exceptions of course, but I think I've ever only seen a handful, and still then I can't say they're completely proven.

I assume you are asking about swing or daytrading futures:

1. & 3. Sign up for a platform and feed. You can deposit some funds, but start in sim only for the feed and information. Try things out. IB, TDA (with ThinkorSwim), Ninjatrader brokerage are among the popular ones. There are others out there that allow a choice of various platforms such as ampfutures. I personally still use Ninjatrader 7 & Thinkorswim platforms.

2. Maybe start out with a futures book on trading or retail trading in general. There's also lot of free stuff here on this site and around the web. (I just saw this here, and think this is decent free material on a method of market structure: https://futures.io/off-topic/46083-your-trading-strategy.html#post704380 ) Books are cheaper where you don't want to have to spend more than few hundred for trading "education" if you can. yes, most trading books are just fluff too , but you want to get started on a few ideas to dip in and test your own ideas where you want to get to a point where once you're familiar with some trading styles and methods, you can experiment and try to create your entries and methods variations and test them out.

I think a couple of good overall trading information intro books are Alexander Elder's "Trading for a Living" and "Swing and day trading, evolution of a trader" by Thomas Bulkowski.

4. In general, you want to already have a plan for each trade. How, where when for entry of a trade. Then also management of a trade. When, where to get out. How to get out when in a riskier trade etc. And then practicing and sticking to your plan and rules.

Start out with a small account and small size. You will probably blow out a few or more accounts which won't be too bad if you had small accounts for the practice. (that's why save funds for the accounts and broker & platform commissions/fees, rather than getting scammed by pricy vendors). Good luck.


Last edited by Cloudy; January 26th, 2019 at 02:14 AM.
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  #14 (permalink)
AlexA
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Hi,
I was recommended by someone in this forum to look into Daniel Castilla, he has a bunch of instructional videos in YouTube on price action. Go through lessons 1 to 10. He also does live trading once a month. He’s does not charge a penny and is a very successful trader. I been trying to become a consistent trader for years, and I found his trading style to be simple and very effective... good luck my friend and hope you become the trader you want to be...


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  #15 (permalink)
Market Wizard
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Alexawl View Post
Hi,
I was recommended by someone in this forum to look into Daniel Castilla,..

Damian Castilla.
edit: very good videos, btw.


Last edited by cory; January 26th, 2019 at 12:57 PM.
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  #16 (permalink)
AlexA
FORT LAUDERDALE
 
Trading Experience: Intermediate
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Favorite Futures: ES Emini
 
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Yes Damián.... darn auto correct... lol


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  #17 (permalink)
Elite Member
Oslo Norway
 
Trading Experience: Beginner
Platform: Metatrader
Favorite Futures: Corn
 
Lavrans's Avatar
 
Posts: 23 since Jan 2019
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Cloudy View Post
Hello there. I completely agree the majority if not all the vendors of retail trading methods, "schools/academies" and indicators, are charlatans perpetuating scams on newcomers to retail trading because that's how their rotten industry thrives and survives. I had long suspected all of them didn't trade for a living. And my thoughts were finally justified and confirmed with Emmett's www.tradingschools.org reviews which has also helped the CFTC and FBI arrest and indict some of the more egregious scammers. And it just makes common sense. A real profitable trader would have no pressing need to teach strangers even for a fee business. At best, they would probably only teach significant others or closest friends. There are exceptions of course, but I think I've ever only seen a handful, and still then I can't say they're completely proven.

I assume you are asking about swing or daytrading futures:

1. & 3. Sign up for a platform and feed. You can deposit some funds, but start in sim only for the feed and information. Try things out. IB, TDA (with ThinkorSwim), Ninjatrader brokerage are among the popular ones. There are others out there that allow a choice of various platforms such as ampfutures. I personally still use Ninjatrader 7 & Thinkorswim platforms.

2. Maybe start out with a futures book on trading or retail trading in general. There's also lot of free stuff here on this site and around the web. (I just saw this here, and think this is decent free material on a method of market structure: https://futures.io/off-topic/46083-your-trading-strategy.html#post704380 ) Books are cheaper where you don't want to have to spend more than few hundred for trading "education" if you can. yes, most trading books are just fluff too , but you want to get started on a few ideas to dip in and test your own ideas where you want to get to a point where once you're familiar with some trading styles and methods, you can experiment and try to create your entries and methods variations and test them out.

I think a couple of good overall trading information intro books are Alexander Elder's "Trading for a Living" and "Swing and day trading, evolution of a trader" by Thomas Bulkowski.

4. In general, you want to already have a plan for each trade. How, where when for entry of a trade. Then also management of a trade. When, where to get out. How to get out when in a riskier trade etc. And then practicing and sticking to your plan and rules.

Start out with a small account and small size. You will probably blow out a few or more accounts which won't be too bad if you had small accounts for the practice. (that's why save funds for the accounts and broker & platform commissions/fees, rather than getting scammed by pricy vendors). Good luck.

Hello my friend!

Thank you for the informative post, it was very helpful.

Its good to see that its not just me being paranoid about the fake teachers

I will buy the books you recommended and then start a training account on ninjatrader combined with more reading on this forum and books.

Have you become profitable jet? If so, how long did it take and how much did you study/train?

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  #18 (permalink)
Elite Member
Oslo Norway
 
Trading Experience: Beginner
Platform: Metatrader
Favorite Futures: Corn
 
Lavrans's Avatar
 
Posts: 23 since Jan 2019
Thanks: 32 given, 5 received


Alexawl View Post
Hi,
I was recommended by someone in this forum to look into Daniel Castilla, he has a bunch of instructional videos in YouTube on price action. Go through lessons 1 to 10. He also does live trading once a month. He’s does not charge a penny and is a very successful trader. I been trying to become a consistent trader for years, and I found his trading style to be simple and very effective... good luck my friend and hope you become the trader you want to be...


Sent using the futures.io mobile app

Hey!

Thanks! I will watch his videos.

Have you become consistent jet?

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  #19 (permalink)
Elite Member
desert CA
 
Trading Experience: Intermediate
Platform: NT7, TOS, IB
Broker/Data: AMP/wCQG, TDA, IB
Favorite Futures: CL,NQ,YM
 
Posts: 2,060 since Jul 2011
Thanks: 2,247 given, 1,595 received


Lavrans View Post
Hello my friend!

Thank you for the informative post, it was very helpful.

Its good to see that its not just me being paranoid about the fake teachers

I will buy the books you recommended and then start a training account on ninjatrader combined with more reading on this forum and books.

Have you become profitable jet? If so, how long did it take and how much did you study/train?

Your welcome. I know what you mean. If you see the newest article by Emmett on tradingschools.org he talks about how he needs FBI protection from some crazy and vengeful scammers he exposed. He himself scammed over $500 million in junk stocks and went to jail for it, but at least now in his second life he helps with the truth getting exposed, occasionally assisting the FBI & CFTC.


Lavrans View Post
4.
Dont undertand anything of this "price action with an ema and buy p/bs and sell rallies"

My current trading style is similar to this. You'll learn what all those terms mean with either of the books I mentioned, or from the free stuff here. If you have Elite membership, there's tons of intro subject videos posted and archived: (https://futures.io/webinars/). There's also free posted videos from future.io on youtube here. I was profitable in '17 but not last last year, so I still have a ways to go. It's been about ten years since I first started trying trading. I had quit or taken long breaks in between so I think the total where I traded at least each month has been about 5 to 6 years with thousands of hours of screen time. It's been a long journey , probably too long for me.


Last edited by Cloudy; January 26th, 2019 at 03:26 PM.
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  #20 (permalink)
Elite Member
Oslo Norway
 
Trading Experience: Beginner
Platform: Metatrader
Favorite Futures: Corn
 
Lavrans's Avatar
 
Posts: 23 since Jan 2019
Thanks: 32 given, 5 received


Lol FBI protection.
And 500m thats crazy!

I will take a look

Yhea I definitely need to learn those terms asap.

Elite membership seems nice.

Good job not giving up man!
And when you already have traded for so long you should never give up. Maby you are much closer than you think my friend!


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