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Suggestions On My Journey
Started:February 29th, 2012 (02:50 PM) by SammyD Views / Replies:1,493 / 11
Last Reply:March 6th, 2012 (06:55 PM) Attachments:0

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Suggestions On My Journey

Old March 6th, 2012, 05:50 PM   #11 (permalink)
Elite Member
Futures Experience: Advanced
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Favorite Futures: commodities, TF
mfbreakout's Avatar
Posts: 7,244 since Oct 2010
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day trading oil futures without indicators

Hi SammyD,

Big Mike and other members are right on in terms of stop back testing, coding, jumping from one method to another.

I did all of that , spent 10K on different educational programs. I was very through with selection of educational material but still no luck for year and half.

If you want to be a discretionary trader, based on my experience Mark Fisher method for day trading VOLATILE and LIQUID instrument is one very good option.

Like all methods, his method is not for everyone. I trade crude oil every day with Mark Fisher method along with Market Profile and ACD method has changed my life.

I maintain a trading journal " day trading crude oil without indicators" and have posted 100 charts over last 2 months. This method may be of help to you.

NOTE: I tried to help 2 of my friends with this method and they did not get anywhere. One has PhD. D in computer science and the other one masters in Math. They wanted to code and back test it. ACD can not be coded and back tested. It's a discretionary method which requires flexibility and confidence which comes with screen time. I have replayed every day of trading crude oil over and over again to get confidence, so it requires lot of screen time.

Good Luck.

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Old March 6th, 2012, 06:55 PM   #12 (permalink)
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Futures Experience: Intermediate
Platform: NinjaTrader, Tradestation
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Thanks to everyone for the responses. There is some very constructive criticism in this thread. In light of it, I'm moving back to discretionary trading in SIM for now. I will still code strategies that look promising after discretionary trading in order to backtest them(if possible). Also, many points have been made about 'stop looking to others', 'find your own way', 'stop reading', etc. These points are well taken to heart and I have started applying them as well.

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