I apologize if there is already a thread for this topic but I searched (probably could have searched harder) and I didn't see anything.
I am new to trading futures, I don't claim to have even a mild understanding of all that's involved, but I am very proud of the research that I've done over the past few months (I've been obsessed). I've been religiously paper trading every day and as of this week I finally have a set up and strategy that I can call my own. So far it has been very good to me.
With that said, I have an uncle (so cliche) who apparently used to be a full-time trader and isn't anymore but has found out about my recent enthusiasm with trading futures. Basically, everything he has said to me has been completely discouraging.
- My indicators are useless and his are the perfect ones (His strategy is based off of Woodie's)
- I only need Heikin Ashi to trade
- Trade a 2-min chart intraday instead of the 5-min that I use
- Only start off with NG and other's that are less volatile. I have been trading /CL. While I know it is of the more difficult instruments to trade, it is much more suitable for my personality.
I'm not saying that he's wrong, but I'd like to think that I'm not wrong either. Isn't the whole thing about finding a system and set-up that works for you?
Anyways, I heard these comments today while I was trading. It sent me into a trading rage and I lost a metric crap ton of (fake) money, solely because I was trading out of spite. I'm glad this happened to me now because I'm sure there are a million other people that think my system is worthless, so I can react accordingly next time. With that said...