Where should I start my journey? - Commodities Futures Trading | futures io social day trading
futures io futures trading


Where should I start my journey?
Updated: Views / Replies:1,946 / 58
Created: by Lavrans Attachments:0

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 100,000 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
 
Thread Tools Search this Thread
 

Where should I start my journey?

  #31 (permalink)
Elite Member
Thailand
 
Trading Experience: Advanced
Platform: Daytradr
Favorite Futures: ZB
 
Anagami's Avatar
 
Posts: 764 since Dec 2010
Thanks: 501 given, 1,598 received
Forum Reputation: Legendary


Lavrans View Post
Hello everybody!

I am a completely beginner but really want to learn how to trade efficiently over time.

About 1 year ago I read a few books about forex and tried some daytrading.
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 didnít knew how to trade profitably themself and where basically just scamming people.

Now I want to give trading another try, as I am very tired of my job and it would be fantastic to be able to work from home and be my own boss.

I am completely aware that one not becomes a successful trader over night, and that it probably will take years and thousands of hours practicing, but I am willing to make the sacrifice for the long term gain.

And I also think it will be a fun and interesting experience as long as I know that Iím on the right course, and learning from a professional.

My first step is therefore to find someone who actually knows how to trade
and try to learn from him.

I just recently read marked wizards by Jack D Schwager and got interested in commodities.

Thatís how I found this forum btw.

What Iím 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!

A simple suggestion: start by exploring different trading approaches by watching webinars here on FIO.

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
Reply With Quote
The following user says Thank You to Anagami for this post:
 
  #32 (permalink)
Elite Member
Nashville Tennessee/United States
 
Trading Experience: Advanced
Platform: Ninja Trader
Favorite Futures: CL, ES, NQ, GC
 
Posts: 31 since May 2012
Thanks: 8 given, 36 received

Lots of Opportunities for You

If I may try to help you: I'd recommend a trial run with Ninja 8, and it is a free download to allow you to get used to a platform for your trades. I believe that Ninja Trader offers "THE BEST PLATFORM SERVICE" when you have questions or need some help with software. Secondly, if you are interested in a trading course, my personal like is Al Brooks Price Action. It is not for everybody. Al's voice has been said to be boring monotone sometimes. IMHO, Al's teaching is right on for a price action trader. Al will even allow you a couple of free days inside his trading room, but I do not recommend that at first. There are several "you tube" presentations by Al for you to freely watch at your leisure. Al is not big on indicators so as not to clutter a screen, complicating your decisions with too many x's and o's if you will.

Most importantly, take it slow and easy. There are too many sharks in the trading world looking to take money from your account and put it into there's.

Best always.


Lavrans View Post
Hello everybody!

I am a completely beginner but really want to learn how to trade efficiently over time.

About 1 year ago I read a few books about forex and tried some daytrading.
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 didnít knew how to trade profitably themself and where basically just scamming people.

Now I want to give trading another try, as I am very tired of my job and it would be fantastic to be able to work from home and be my own boss.

I am completely aware that one not becomes a successful trader over night, and that it probably will take years and thousands of hours practicing, but I am willing to make the sacrifice for the long term gain.

And I also think it will be a fun and interesting experience as long as I know that Iím on the right course, and learning from a professional.

My first step is therefore to find someone who actually knows how to trade
and try to learn from him.

I just recently read marked wizards by Jack D Schwager and got interested in commodities.

Thatís how I found this forum btw.

What Iím 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!


Reply With Quote
The following user says Thank You to bopwillie for this post:
 
  #33 (permalink)
Elite Member
Hungary
 
Trading Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES
 
Mtype's Avatar
 
Posts: 1,154 since Oct 2012
Thanks: 1,079 given, 1,259 received


Hi,

I would strongly suggest to start here, with imho one of the best posts around here:

https://futures.io/psychology-money-management/26691-time-give-up-11.html#post346373

Best

ďHappiness is the meaning and the purpose of life, the whole aim and end of human existence.Ē Δ
Reply With Quote
The following user says Thank You to Mtype for this post:
 
  #34 (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


Mtype View Post
Hi,

I would strongly suggest to start here, with imho one of the best posts around here:

https://futures.io/psychology-money-management/26691-time-give-up-11.html#post346373

Best

Lol!

He certainly had the ironwill to become a successful trader no matter what

Reply With Quote
 
  #35 (permalink)
Elite Member
Mountain Home, Aransas, USA
 
Trading Experience: Advanced
Platform: NT7 NT8 MultiCharts IB
Favorite Futures: ES , NQ, GC
 
Posts: 1 since Aug 2018
Thanks: 0 given, 1 received

References

https://marketgeometry.com (don't buy anything right off Ö for maybe a year or more)
free resources Articles : Action Reaction Course : Median Line Construction instructions

https://www.youtube.com/User/MarketGeometryVideos
these are examples of using median lines but some may be very focused on a sub topic
and not of immediate value. Some will present a different way of looking at a market
that doesn't appeal to you. My advice is don't get frustrated and stuck , just move on.

https://www.interactivebrokers.com/en/general/education/priorWebinars.php?ib_entity=llc
click Industry Sponsored tab , in the Speaker field hit the arrow and scroll down to Tim Morge
and watch all his videos.

"Trades About To Happen" Weis entry strategy compatible with above Market Geometry methods.

Take your time and practice on charts every day if you can. There is a lot of randomness in
the bar to bar price trajectories but the boundaries are much less random, even pre-determined.

Reply With Quote
The following user says Thank You to hhl3rd for this post:
 
  #36 (permalink)
Elite Member
Seattle, WA
 
Trading Experience: Advanced
Platform: TS
Favorite Futures: ES only
 
Posts: 5 since Aug 2016
Thanks: 0 given, 5 received

I can comment only on what has worked for me, although, frankly, I would not expect anyone to believe any of it might work for anyone else, as I believe the trading process is highly individual.

1. Lots and lots (years) of psychotherapy, to come to some realization within myself of who I am, what I want, what I don't want, my fears, my joys, etc. I know this may sound phony baloney, but the more I got to know and accept and become accountable to myself, the better trader I became. I am blind to what I don't want to see and acknowledge about myself. That's what therapy is for --- recognition and acceptance of personal blind spots and becoming accountable for them.

2. My trading advanced by leaps and bounds when I abandoned all indicators and began to analyse the market directly, using only its independent variables, price and volume, and their inter-relationships. Relying on indicators cost me some twenty years of unproductive time (although with my quantitative background, SB MIT, PhD Caltech, the belief that indicators might be productive is highly addictive to me).

3. My trading also advanced leaps and bounds when I shifted my focus from "making money" to "being the best trader I could be." That meant:

a) Developing an objective, rule-based, predetermined system that consistently had shown by extensive backtesting substantial profit over a substantial period of time. And:

b) Learning how to execute the system flawlessly while keeping my emotions in check.

Thus my goal was not "to make money trading." It was to develop my trading system and then to execute it flawlessly. If I could do that, I would become a "successful trader" in my own mind. What became of that in terms of dollars was irrelevant. The money no longer mattered. What mattered was only what I could control, and I cannot control the market.

4. Lastly, trading became much more enjoyable and less stressful after I had obtained sufficient funds from other activities such that I did not have to rely on my trading for my financial security.

I wish you my best along your journey.

Richard Wills, a student of the S&P 500 futures market since 1983


Last edited by seattle7; January 29th, 2019 at 05:24 PM.
Reply With Quote
 
  #37 (permalink)
Trading Apprentice
Tri State Area
 
Trading Experience: Beginner
Platform: TOS, NT7
Favorite Futures: es cl
 
Posts: 29 since Mar 2018
Thanks: 9 given, 4 received

I would also suggest reading Trading in the Zone (douglas) and doing some coin toss exercises (look up FuturesTrader71 for coin toss exercise). More than half your battle will most likely be psychological than technical.


Lavrans View Post
Hello everybody!

I am a completely beginner but really want to learn how to trade efficiently over time.

About 1 year ago I read a few books about forex and tried some daytrading.
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 didnít knew how to trade profitably themself and where basically just scamming people.

Now I want to give trading another try, as I am very tired of my job and it would be fantastic to be able to work from home and be my own boss.

I am completely aware that one not becomes a successful trader over night, and that it probably will take years and thousands of hours practicing, but I am willing to make the sacrifice for the long term gain.

And I also think it will be a fun and interesting experience as long as I know that Iím on the right course, and learning from a professional.

My first step is therefore to find someone who actually knows how to trade
and try to learn from him.

I just recently read marked wizards by Jack D Schwager and got interested in commodities.

Thatís how I found this forum btw.

What Iím 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!


Reply With Quote
The following user says Thank You to teekay for this post:
 
  #38 (permalink)
Elite Member
Long Beach, CA
 
Trading Experience: Advanced
Platform: Ninja Trader
Favorite Futures: Futures
 
makusan's Avatar
 
Posts: 33 since Jun 2010
Thanks: 10 given, 19 received

KNOW THY SELF

I once heard stated prior to the start of a trading seminar I attended online. "90% of retail traders loose due to spending 90% of their time on the 10% of trading (charts, strategies, etc), and only 10% of their time on 90% of trading which is your personal psychology! I highly suggest that you start on this path with a journal, and record everyday these three areas (PTR).
P=Physical wellbeing (We shoot ourselves in the foot, when we show up sick, under the influence, upset.)
T=Thoughts. Where is your attention/focus. Are you attending to the market auction, or your opinion of it?
R=Responses/emotional state: Nervous, fear, anger, annoyed, irritated, worried, etc.
I suggest you seek out a psych coach/therapist, and a mentor (Peter Davies, FutureTrader71, Tom Grady).

namaskar

Reply With Quote
The following user says Thank You to makusan for this post:
 
  #39 (permalink)
Trading Apprentice
Batavia NY
 
Trading Experience: Advanced
Platform: KDE Neon, TWS, Python, R
Favorite Futures: Common stock, ETFs, YM, options
 
Posts: 49 since Dec 2018
Thanks: 13 given, 61 received

To me the best quote is
"The first $100k is a real bitch"
--Charlie Munger


If I started over I wouldn't start trading until I had $100k of capital, I would just dollar cost average into the index. Once you have a $100k then when you compound out another $10k start using that to trade in a separate account.

Without a $100k your profit is just too much a % of life expenses that there is too big an opportunity cost to learn to trade with that money.

If you blow up the $10k account , wait to compound out another one from your capital. Worst case scenario then is you quit trading and just let your $100k compound.

It probably also keeps you from trading much in your 20s. I had such delusional ideas about trading in my 20s.

Reply With Quote
The following 2 users say Thank You to centaurer for this post:
 
  #40 (permalink)
Market Wizard
Sarasota FL
 
Trading Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES
 
Posts: 4,492 since Jan 2013
Thanks: 33,805 given, 14,819 received
Forum Reputation: Legendary



centaurer View Post
To me the best quote is
"The first $100k is a real bitch"
--Charlie Munger


If I started over I wouldn't start trading until I had $100k of capital, I would just dollar cost average into the index. Once you have a $100k then when you compound out another $10k start using that to trade in a separate account.

Without a $100k your profit is just too much a % of life expenses that there is too big an opportunity cost to learn to trade with that money.

If you blow up the $10k account , wait to compound out another one from your capital. Worst case scenario then is you quit trading and just let your $100k compound.

It probably also keeps you from trading much in your 20s. I had such delusional ideas about trading in my 20s.

This is probably not what @Lavrans wanted to hear, and these may not be the literal numbers he should be using -- risk is an individual matter. But the message is something that's important to learn, and learn well.

And, by the way, it's very, very (very) likely that, if you start out with a $10k account, you will also blow your $10k acoount. Or $5k. Or whatever k you have. Sorry, don't shoot the messenger.

How a person deals with this risk, which is definitely part of the learning process, is up to them, but be aware of it. Also, don't be too scared of it. There's a balance there that has to be found. Come down on the side of the balance that makes sense to you, realizing that you will not likely get it right the first time. Also, never trade with money you can't afford to just kiss goodbye. This may happen a few times....

Good luck.

Bob.

Reply With Quote
The following 4 users say Thank You to bobwest for this post:

Reply



futures io > > > > Where should I start my journey?




Upcoming Webinars and Events (4:30PM ET unless noted)
 

Journal Challenge $1600 in Prizes & Free Journalytix for all participants!

February
 

3 Excellent Entries, and How To Automate Them w/Kevin Davey

Feb 21
 

The Driving Force Behind the Market w/Earn2Trade

Mar 5
 

TBA w/Stage5 & iSystems

Mar 12
 

TBA w/John Grady @ No BS Day Trading

Mar 19
 

Day Trading Oil Futures: Reducing Risk & Increasing Profits w/DTN IQFeed

Mar 26
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
How to start background process in NT 8 when Control Panel start? vantojo NinjaTrader Programming 4 November 24th, 2017 07:32 PM
Where should a beginner Futures trader start? magik570 Beginners and Introductions 4 June 24th, 2017 11:02 AM
Should Fed Start to Taper Stimulus Now? Quick Summary News and Current Events 0 October 30th, 2013 12:30 PM
SMA with Discretionary Start Time and Start Date for MC tradernovice EasyLanguage Programming 4 July 29th, 2011 07:50 PM
Should Investors Start to Worry About Stagflation? Quick Summary News and Current Events 2 March 1st, 2011 12:38 PM


Tags
broker, brokerage, brokers, buy, cftc, chart patterns, commodities, courses, day trading, daytrading, daytrading futures, dow, ema, forex, futures, how to, how to trade, indicators, information, live trading, long term, metals, ninja, ninjatrader, ninjatrader 7, ninjatrader brokerage, nq, order flow, patterns, price action, profitable, qualitative, repeating, reviews, reward, risk/reward, short, short-term, sim, sim_trading, strategy, successful trader, support, swing, systems, tapatalk, thinkorswim, thomas bulkowski, tick, tick chart, trade management, trading, training, trend, trial, type, volatility

All times are GMT -4. The time now is 10:22 PM. (this page content is cached, log in for real-time version)

Copyright © 2019 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432 WhatsApp Business, 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 2019-02-19 in 0.15 seconds with 13 queries on phoenix