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

  #131 (permalink)
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budfox View Post
Interesting. I of course never reported Gary's post, in fact I am very grateful for his insight, one of the few posts that was actually constructive.

I wonder who reported Gary (if anyone really did).

Oh and btw I don't appreciate all the non-related immature arguing on my thread.

Sorry for hijacking your journal. I was just trying to give you my perspective on learning how to trade and it escalated a bit. I apologize.

PS. I don't see why it matters who reported the post anyway. We are adults here. It clearly was way outside of the rules of this forum or Mike wouldn't have reacted or said anything.

Good luck to you.

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  #132 (permalink)
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@budfrog

My wife and I just had a baby. So that has been my focus lately. I also have a part-time job at night to keep bread in my jar. Also, I still work with a prop firm in Chicago. That helps since I live here, I can do that easier. SO that takes up my day.

I don't know how I can help you. I don't trade forex. When I trade during the day; I trade stocks. I like to have several positions on at once; ideally up to 30 different positions is ( at a time ) is about where I top out at. I trade NASDAQ stocks. They are smaller positions, so I don't get stressed, but I have been sizing them up with more experience. Preferably, I like to be flat by the close, but will hold overnight if I am taking a lot of heat on a trade. I will do this with the idea that the next day open volatility price will hit my profit target or price will swing. If not, then I will average down on that position and try to work myself out of the hole. Using smaller position sizes allows me the option to average down. It's not an ideal scenario and is usually a result of bad trade management, but averaging down in a disciplined manner has saved me on many occasions. When a trade is going profitable, is just as difficult. But most times I just trail a few ticks below/above the 30m low/high and move on to the next trade. That keeps me from over analyzing. Stocks are great because there is always another trade. If I'm following 200 stocks at a time; I don't have time to waste over anaylzing something.

Actually, at night I like to over analyze things, but not during the day. At night, when I'm not being a good husband or working out; I like to study automated strategies and stuff like that. Thats when trading becomes more of a hobby than a discipline. I'm not a good programmer though, so a lot of my concepts are just stuck in my head. I'm more of an artist-type, I can paint a photo-realistic painting with a paint brush, but couldn't program an algo that could come up with the perfect risk/reward trailing stop if my life depended on it. I don't know anyone that can either. If you do, please let me know.

Anyways, the baby is crying and still need to walk the dog. So that's my random thoughts for now. This thread is really random.

Later,
chuckchucker

Alligators and crocodiles are not the same. A lot of people don't know that.

Last edited by chuckchucker; December 9th, 2014 at 06:46 PM.
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  #133 (permalink)
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Anna K View Post
PS. I wasn't told before about the unspoken rule that nobody is allowed to criticize TT, only he is allowed to criticize everybody. Now I know. That was educational. Thank you.

This type of response makes my blood boil. There are a few individuals on futures.io (formerly BMT) that enjoying complaining about futures.io (formerly BMT) to others instead of working to make it a better place.

My problem is that negativity breeds negativity. I have never understood why people remain on the forum if they dislike it so much or dislike the way I run it.

When I read a post like yours, to me it insights additional negativity and then when certain people thank these negative posts multiple times, it makes me think those are the people that are breeding more negativity. It just creates drama.

Let's keep it simple please. If you like the forum, then be here, but be nice. If you dislike the forum or any part of it whatsoever, then either avoid being overly negative about it over and over, or just avoid posting altogether, or just stop coming to the site.

My point being, I will not allow for more and more negativity to spawn just because a couple of people out of thousands of active members dislike one particular member. Grow up and place the user on your ignore list and stop complaining about it, or if you can't do that, then stop visiting the site. Let me do my job please.

It is not possible to make everyone happy. You have to trust in my judgment since you cannot possibly understand what is involved in my decisions until you become me. If you cannot trust my decision, then this is not the place for you.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
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  #134 (permalink)
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Wow I gotta say that this blew up overnight and has become one of the very rare negative impact threads I see here on futures.io (formerly BMT). I was originally tagged in this thread randomly just like many others. I did feel the urge to help and give advice as best as I could. Now I want to try to atleast get this back on track and maybe throw in my 2 cents. For better or worse.

@budfox I really feel what these other guys like @PandaWarrior @tigertrader are feeling. At first I felt like I was randomly tagged but still felt like i should try and be helpful. I have tried to give you advice for your algo trading using the same methods and evaluation criteria that I use for my own capital. No more no less, not to mention algo development is the type of trading "style" I am best at. However it has been to no avail. For reasons mentioned above including: strategy jumping, not testing thoroughly enough, and just in general not following proper algorithm development practices. What I take away from the results of my several posts and your replies is put bluntly that you are just not willing to put in the work. You are not willing to take the time to develop the skillset to do the job properly through learning coding and you are to lazy to test either manually or automatically a trade report with statstically significant results. Copying others strategies, changing to cheaper instruments, or any advice anyone gives you always comes back to you. You need to make it actionable and take it as a seed that you can use or throw it away and go your own path. Theres no other way around it. Sorry for the blunt language but I think every trader needs to look in the mirror first when they are struggling. Its usually the first place you can find a problem, but harsh sounding when others point it out.

@wldman I know you fairly well and we have had some excellent conversations that have lead to great changes in my own outlook on trading.

@tigertrader I have read many of your posts and respect and enjoy the content. You do not suffer fools in your posts and if your not thinking when you read them most people will miss 80% of the content.

@Anna K Unfortunately I am not as familiar with your posts but you make a good point no one on this forum needs people jump in and protect others. IMHO we all are intelligent enough to have our own arguments and statements stand on their own merit.

So lets focus on what this forum is about discussing and helping others in regards to trading. All in a non negative and well catered environment. Also heres to hoping that I am not the peace keeper who ends up getting punched in the face from both sides.


Last edited by treydog999; December 9th, 2014 at 10:41 PM.
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  #135 (permalink)
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the bible on market profile; but, much more

chapters 10 and 12 are a must read for all aspiring traders

The most important element in becoming a successful trader is having a sound background consisting of a strong base of knowledge acquired from being active in the markets through time. Building this background is in some ways the easiest and in other ways the most difficult thing for a trader to accomplish. Trading experiences, observations of all kinds, a focus on what is most important, and a clear understanding of business principles are all necessary ingredients in a strong trading background. Awareness and patience are also required to further develop’s background. Without a sound background, one’s trading cannot be consistently successful. With it, one can develop clear, correct ways of thinking and confidence in one’s trading judgment. In today’s fast-moving world, some traders try to bypass the crucial first step of developing a sound background, and then rationalize the lack of background for the rest of their careers. - from chapter 1



One year later into my trading career...........seeking guidance and direction-steidlmayer-markets.pdf


Last edited by tigertrader; December 9th, 2014 at 10:48 PM.
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  #136 (permalink)
Membership Temporarily Revoked
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treydog999 View Post
. At first I felt like I was randomly tagged but still felt like i should try and be helpful. I have tried to give you advice for your algo trading using the same methods and evaluation criteria that I use for my own capital. No more no less, not to mention algo development is the type of trading "style" I am best at. However it has been to no avail. For reasons mentioned above including: strategy jumping, not testing thoroughly enough, and just in general not following proper algorithm development practices. What I take away from the results of my several posts and your replies is put bluntly that you are just not willing to put in the work. You are not willing to take the time to develop the skillset to do the job properly through learning coding and you are to lazy to test either manually or automatically a trade report with statstically significant results. Copying others strategies, changing to cheaper instruments, or any advice anyone gives you always comes back to you. You need to make it actionable and take it as a seed that you can use or throw it away and go your own path. Theres no other way around it. Sorry for the blunt language but I think every trader needs to look in the mirror first when they are struggling. Its usually the first place you can find a problem, but harsh sounding when others point it out.

Hi Trey,

Thank You for the reply. There seems to be great misconception that I am expecting people to spoonfeed me, but if you personally knew me then it you would know that that is not further from the truth.

I am very surprised at your change in attitude, as I was greatly inspired by your previous posts , which did have great influence over me.

Regarding the 'not testing sufficiently enough" a lot of performance profiles I posted where preliminary>> I aim to manually test around 100 trades for every model. I even started reading Pardo's book (which you cited in one of your posts)

You should also know that I spend an hour every day on Lynda (which I paid for) and other sites and on Visual Studio learning C# (it is hard learning it from scratch in an unstructured environment), I am not as skilled as you or traderpards, but I am steadily improving my skills.

Please dont feel or believe that your posts were 'wasted' on me, some of your advice I instantly implemented, and my backtesting capability was greatly developed due to it.

When I become a successful full time trader (and I know will be ), I will dedicate myself to helping aspiring traders like myself in the future.

Please dont fire me boss, I believe I can be a positive contribution to your firm.

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  #137 (permalink)
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tigertrader View Post
the bible on market profile; but, much more

chapters 10 and 12 are a must read for all aspiring traders

The most important element in becoming a successful trader is having a sound background consisting of a strong base of knowledge acquired from being active in the markets through time. Building this background is in some ways the easiest and in other ways the most difficult thing for a trader to accomplish. Trading experiences, observations of all kinds, a focus on what is most important, and a clear understanding of business principles are all necessary ingredients in a strong trading background. Awareness and patience are also required to further develop’s background. Without a sound background, one’s trading cannot be consistently successful. With it, one can develop clear, correct ways of thinking and confidence in one’s trading judgment. In today’s fast-moving world, some traders try to bypass the crucial first step of developing a sound background, and then rationalize the lack of background for the rest of their careers. - from chapter 1



Attachment 168488

Thank you for the suggestion sir. I will make sure to read it (even though I trade forex lol ) .

@tigertrader

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  #138 (permalink)
Elite Member
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budfox View Post
Hi Trey,

Thank You for the reply. There seems to be great misconception that I am expecting people to spoonfeed me, but if you personally knew me then it you would know that that is not further from the truth.

I am very surprised at your change in attitude, as I was greatly inspired by your previous posts , which did have great influence over me.

Regarding the 'not testing sufficiently enough" a lot of performance profiles I posted where preliminary>> I aim to manually test around 100 trades for every model. I even started reading Pardo's book (which you cited in one of your posts)

You should also know that I spend an hour every day on Lynda (which I paid for) and other sites and on Visual Studio learning C# (it is hard learning it from scratch in an unstructured environment), I am not as skilled as you or traderpards, but I am steadily improving my skills.

Please dont feel or believe that your posts were 'wasted' on me, some of your advice I instantly implemented, and my backtesting capability was greatly developed due to it.

When I become a successful full time trader (and I know will be ), I will dedicate myself to helping aspiring traders like myself in the future.

Please dont fire me boss, I believe I can be a positive contribution to your firm.

@budfox if that is true, then I apologize. I can not see how much work you are doing behind the screen in your own time. I have to admit I did become a little frustrated at the constant tagging and lack of what I considered good results or show of improvement from what I could see. Which let me change my position to one of spoonfeeding and irritation, but thats on me. So suprising how forums can do that, even when you start with the best of intentions.

I am very happy to hear that you are implementing my ideas and that its making an impact. But I think the most important thing that you said in your quote is what I bolded, that you KNOW you will be successful. It takes that kind of attidude to get through a lot of the early stages and power through the learning curve. Its not easy and definately takes a lot of grit and self confidance as its easy to give up. This is the important bit, not what anyone else can see on the forum. But that you know you are taking steps forward. Doesn't really matter what I or anyone else says, eventually you will be carving your own path.

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  #139 (permalink)
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budfox View Post
There seems to be great misconception that I am expecting people to spoonfeed me,

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

I have warned you multiple times in the past to stop your foolishness on the forum, and yet here we are again with one of your threads. If you don't stop posting this crap, then I will ban you, and I will go look at my records to figure out who paid for your membership and I will give them their money back.

My recommendation is to stop trading. At the least stop posting.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #140 (permalink)
Market Wizard
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Big Mike View Post
OK I cannot take it any more. You even got someone else to pay your Elite Membership!

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

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