One year later into my trading career...........seeking guidance and direction - futures io
futures io futures trading



One year later into my trading career...........seeking guidance and direction


Discussion in Emini and Emicro Index

Updated by ender41
      Top Posters
    1. looks_one budfox with 49 posts (14 thanks)
    2. looks_two tturner86 with 18 posts (64 thanks)
    3. looks_3 tigertrader with 10 posts (186 thanks)
    4. looks_4 Big Mike with 8 posts (40 thanks)
      Best Posters
    1. looks_one tigertrader with 18.6 thanks per post
    2. looks_two josh with 7.1 thanks per post
    3. looks_3 Big Mike with 5.0 thanks per post
    4. looks_4 tturner86 with 3.6 thanks per post
    1. trending_up 24,745 views
    2. thumb_up 472 thanks given
    3. group 32 followers
    1. forum 148 replies
    2. attach_file 12 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

(If you already have an account, login at the top of the page)

 
Thread Tools Search this Thread
 

One year later into my trading career...........seeking guidance and direction

  #141 (permalink)
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
cory's Avatar
 
Posts: 5,994 since Jun 2009
Thanks: 830 given, 7,816 received


budfox View Post
...



Big Mike View Post
OK I cannot take it any more. You even got someone else to pay your Elite Membership!

..................

Attached Thumbnails
Click image for larger version

Name:	hannah-habibi-hopkins-made-you-look-300x148.jpg
Views:	47
Size:	13.2 KB
ID:	168497  
Reply With Quote

Can you help answer these questions
from other members on futures io?
Convert NinjaTrader NT7 indicator to Tradestation EasyLanguage and RADARSCREEN
Platforms and Indicators
Issue meeting order entry conditions
Elite Automated NinjaTrader Trading
Last 5 minutes Label
ThinkOrSwim
Moving average with Lag reduction
NinjaTrader
Linux?
ThinkOrSwim
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
259 thanks
Want your NinjaTrader indicator created, free?
44 thanks
What is your single biggest weakness?
44 thanks
VWAP for stock index futures trading?
39 thanks
Is Amp at risk of going under?
38 thanks
 
  #142 (permalink)
Toronto
 
Experience: Beginner
Platform: Sierra
Broker: MB
Trading: ES
 
Posts: 313 since Jun 2013


cory View Post
..................

lol I dont get the NInja? (PM me)

Reply With Quote
 
  #143 (permalink)
Philadelphia
 
Experience: None
Platform: corded black telephone
Trading: ticker tape
 
Posts: 2,893 since Apr 2012
Thanks: 1,683 given, 3,664 received


I think it's safe to say some trades(threads) are better off not taken. Oh but I think I just jynxed myself

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Reply With Quote
 
  #144 (permalink)
Bodoe , Norway
 
 
Posts: 143 since Jun 2014
Thanks: 844 given, 122 received

@ budfox
Have you checked out "forex tester 2" , I did purchase it and it has helped me thrust my tradingsystem. Much better than any book I invested in.
FT71's webinars have helped me think about how I can make things work out the way that suits me best. A big thank you to FT71 & Big Mike for doing them.

One advice I was given by Walter Peters has been good :
First step -> test your system with the forex tester . Then you will have a clue if it works or not. and you will gain confidence in it.
Second step -> trade demo account until you have trippled your demo account.
Third step -> Go live with a small part of your money. when you have successfully trippled the small account you can move to next step.

Step Four-> you can now trade live with your full size account that you have been saving until you proved to yourself that you were able to trade consistently profitable for a long time .

This is the path I'm at... step 3 now.

Reply With Quote
The following 3 users say Thank You to sharpshoota for this post:
 
  #145 (permalink)
West Java
 
 
Posts: 145 since Apr 2014
Thanks: 143 given, 122 received


sharpshoota View Post
@ budfox
Have you checked out "forex tester 2" , I did purchase it and it has helped me thrust my tradingsystem. Much better than any book I invested in.


Totally agree ...

---

and .. budfox, there are many resource/experiment for this kind of Q @ more focused FX forums, for your reference.
even if we find profitable method over certain period of time, how do we know that this result is not due to random chance ? ...



Last edited by Thxo; December 14th, 2014 at 04:59 AM.
Reply With Quote
The following user says Thank You to Thxo for this post:
 
  #146 (permalink)
Geelong Victoria
 
 
Posts: 113 since Jan 2015
Thanks: 45 given, 90 received


tigertrader View Post
@budfox

my most profound piece of advice is not to look at the market in the same way as everyone else looks at it. do not read the same books on trading as everyone else, and certainly do not trade as everyone else trades. if your inputs are the same as everyone else's, you will have no advantage as a trader and your results will be the same as everyone else's. you will operate with the same heuristics and have the same predictable biases that emanate from those heuristics. and, do not determine honestly, what style of trading I am most suited for! instead determine what style of trading is suited for making the greatest amount of profit under the current regime and market conditions.

OBSERVE the market and its attendant price action. markets are complex adaptive systems, which by nature are non-linear and obscure cause and effect. therefore, it is impossible to predict what is going to take place in the future. nevertheless, when you see something occur you are going to create a narrative to explain what happened -and you will probably be mistaken. cnbc does this on a daily basis and is wrong on a daily basis. so, the trick is to see the market, for what it is, and not what it appears to be. this skill takes years and years of screen time observing the markets, and one's approach to trading has to be constantly updated and modified as the markets change. this is why you will not find the answer on how to profit from trading in any book. as soon as it would be uncovered it would be obsolete.

i personally, never read books on trading. instead, i like to read books on decision and game theory. this helps me to be aware of the factors that distort my judgement. one must be able to eliminate the deleterious effects of emotion, stress, and bias in the decision process otherwise one can throw all one's methodology out the window.

from a previous post of mine...

aside from being under capitalized, the biggest mistake aspiring traders make, is underestimating the amount of knowledge and deliberate practice required to become a successful full-time trader. for some reason, they assume trading is different from other performance related activities, and that they can read a book and step right into the market and make money. unfortunately, this is about as naive as someone sitting down at a table with poker pros, after playing a only few hands online, and thinking they're going to be competitive. ironically, the market and vegas have more in common than one might think. they were both created by the top-feeders for the sole purpose of taking advantage of the bottom feeders. the only real difference is in vegas you get free drinks. the narratives that are used to sell the dream are the same; and like all good narratives, there is just enough of a ring of truth to them, to make them believable. inevitably, they always appeal to our intellect and emotions, yet they only exist for the benefit of those who would like to take our money. understand this very salient fact and you will stand a much better chance of succeeding.
  • know you have enough Money- if you don't have enough capital to begin with, you're finished, before you started.
  • know the Market- the trader who has the better (more complete) and more timely (current) analysis will enjoy the greatest edge and have the greatest success- if you don't believe that a comprehensive knowledge of the market is important, you're well on your way out the door.
  • know your Methodology-it's taken me 8 years of trading electronically (after having been a professional trader for +30 years, to reach my current level of competency. if you truly believe, that you can compete against the most sophisticated traders in the world by drawing trend-lines and channels and employing anachronistic trading methods, you're sadly mistaken, and soon to be broke.
  • know how to Make-Money- there is a big difference between knowing how to trade, and knowing how to make money. the latter is about doing whatever it takes to get the job done. it's about trading the right markets, in the right ways, for the right reasons. in other words, you don't trade a market , because you like its trading hours; you choose to trade a market because its the best vehicle for making the most money. and you trade it in the way, that affords you the highest probability of making the most money.
  • know yourself & your Mentality - there are a variety of different stressors, emotional/personality flaws, and biases, that effect a trader's ability to make objective decisions. be smart enough to know you're dumb enough, that you don't know everything. The successful performances are those that really aren't about you- don't let who you are get in the way of your trading success.
one last general piece of advice - consider the source of the information you seek. as daniel patrick moynihan once said, everyone is entitled to an opinion, but not their own facts. most books geared to the retail trader, are out-dated, irrelevant, ineffectual and misguided - and quite frankly, so are most of the posts you read on this forum. once again, everyone is entitled to an opinion, but only a few posters on this site are sufficiently qualified to render one. you can also choose to try to show everybody how much faith you have in your own methodology, even if it's never been profitable, or you can use the forum to learn from others who have actually been successful. if you really want to learn, find ways to assess information systematically and surround yourself with experienced, knowledgeable, and proven people, who will challenge your opinions; even when they tell you something you don't want to hear..

Well said, certainly sage advice, it's amazing how these opinions will be derided and ridiculed on some sites. To succeed at this business the list of required attributes is almost endless, with rational independant thinking at the head of the list. I've found my greatest edge to be my 30+ years as a businessman, trading is about money, when it involves money then success will always be about business, not the latest indicator/method. Cheers John

Reply With Quote
The following 3 users say Thank You to Johno1 for this post:
 
  #147 (permalink)
Legendary Market Wizard
Philly, Pa
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
 
tigertrader's Avatar
 
Posts: 6,255 since Jul 2010
Thanks: 6,573 given, 34,828 received


Johno1 View Post
Well said, certainly sage advice, it's amazing how these opinions will be derided and ridiculed on some sites. To succeed at this business the list of required attributes is almost endless, with rational independant thinking at the head of the list. I've found my greatest edge to be my 30+ years as a businessman, trading is about money, when it involves money then success will always be about business, not the latest indicator/method. Cheers John

thanks, mate. still never met an Aussie i didn't like... -g

Follow me on Twitter Reply With Quote
The following 2 users say Thank You to tigertrader for this post:
 
  #148 (permalink)
Buffalo NY/USA
 
Experience: Beginner
Platform: TC 2000, NinjaTrader
Trading: Forex
 
Posts: 1 since Jan 2015
Thanks: 0 given, 1 received

I'm a long time lurker, first time poster. I'm new to futures trading.

@tigertrader: your posts are extremely well thought-out and intelligently written. They have increased my big picture understanding of the futures market.

@tturner86: I've read the first few pages of your journal. It looks good so far! I'm interested in reading more.

I'd like to thank not just those two, but everyone who took the time to post something constructive in this thread. Your efforts and advice are much appreciated.

Reply With Quote
The following 2 users say Thank You to jamesm3331 for this post:
 
  #149 (permalink)
MONTREAL
 
 
Posts: 5 since Jan 2019
Thanks: 0 given, 4 received

I've been at this for two and half years now.

And still not profitable. Yet I know of someone who is making good money after six months.

Damn ! but I'm not giving up

Reply With Quote



futures io Trading Community Traders Hideout Emini and Emicro Index > One year later into my trading career...........seeking guidance and direction




Upcoming Webinars and Events
 

Understanding Order Flow Stops Runs & Icebergs w/Bookmap

May 28
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, 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