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Enter to win: Free Elite Membership to Big Mike Trading
Started:May 23rd, 2010 (04:32 PM) by Big Mike Views / Replies:5,892 / 30
Last Reply:June 29th, 2010 (07:56 AM) Attachments:5

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

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Enter to win: Free Elite Membership to Big Mike Trading

Old June 21st, 2010, 06:18 PM   #21 (permalink)
Just starting out...
Vancouver, BC
Futures Experience: Beginner
Platform: TOS
Posts: 3 since May 2010
Thanks: 0 given, 0 received

Great site! Thank you so much for the great resources!


Old June 21st, 2010, 07:14 PM   #22 (permalink)
Elite Member
Futures Experience: Beginner
Platform: NinjaTrader, TradeStation, MultiCharts
Favorite Futures: TF
Posts: 23 since Jun 2010
Thanks: 2 given, 10 received

I think many of us have a goal of trading for a living. Most that have tried, quickly learn just how hard this can be. There are many obstacles along the way and it is very easy to get sidetracked. There are many temptations for the trader which include endless offers from software vendors, system sellers, training programs, and chat rooms that takes away from much-needed capital to start trading.

The value of a forum such as this one, is that we traders collectively share our experiences and learn about the pitfalls and obstacles that others have experienced enabling us to avoid the same. Toward that end, here are four things off the top of my head toward getting to the point of trading for a living.

  1. You will not find an effective automated system that will make money long term that is offered for sale. Such a cash machine would be virtually priceless to a hedge fund, so it stands to reason that such a system would not be for sale from a website.
  2. You will have limited success in trying to create your own automated system that will make money long term as described above. Many, many “quants” working for large hedge funds with PhD level skill and the best resources available have limited success to show for their efforts in trying to do this.
  3. Find a mentor that you can learn from who is successfully trading in the instruments and timeframe that you wish to be successful with. This of course, is a challenge as there are many training programs that are offered for sale. Ideally you would network and find someone on a personal basis that you can learn from. Since this isn't always easy, a paid training program may be your only choice. In this situation you need to research very carefully the person providing the training and feedback from the students. Another good reason for participating in forums such as this.
  4. One of the greatest innovations that we now have available to us is simulated trading. This is very different from back testing as it allows you to trade as if it was live with real money. If you think you have an approach that works, trade it is simulated basis for hundreds of completed trades until you know that it will work life with real cash.


Old June 22nd, 2010, 01:09 PM   #23 (permalink)
Elite Member
berlin, germany
Futures Experience: Beginner
Platform: Tradestation
Favorite Futures: stocks
Posts: 10 since May 2010
Thanks: 8 given, 1 received

give me a free chance to learn from the elites so i can acquire skills to generate enough to pay next 10 year's elite membership


Old June 23rd, 2010, 01:30 AM   #24 (permalink)
Elite Member
Futures Experience: Beginner
Platform: Ninja Trader
Favorite Futures: YM
Raj1's Avatar
Posts: 167 since Jul 2009
Thanks: 252 given, 55 received

Happy Birth day to the Baby of Big Mike

Hellow Big Mike:



Wishing you and all the forum members all the best on this august occasion.



The following user says Thank You to Raj1 for this post:

Old June 23rd, 2010, 06:36 PM   #25 (permalink)
Elite Member
Futures Experience: Intermediate
Platform: Ninja Trader, TOS
Broker/Data: Mirus/Vision/TOS/AMP
Favorite Futures: Currency Futures, Oil
flight302's Avatar
Posts: 18 since Dec 2009
Thanks: 16 given, 7 received

Futures Edge on FIO

What happens to the S&P 500 when a new President takes office?

Thanks Big Mike!!! The site is the best and the members are top notch!!!

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Old June 24th, 2010, 07:37 PM   #26 (permalink)
Elite Member
Futures Experience: Intermediate
Platform: NT
Favorite Futures: Index Futures
Haverchuck's Avatar
Posts: 104 since Jul 2009
Thanks: 76 given, 77 received

Super Renko Bros

Since you guys are so big on renko bricks around here, I figured I'd try them out . . . and man are these things fun. Here's a pic of a recent CL session . . .

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Old June 25th, 2010, 02:39 AM   #27 (permalink)
Elite Member
Boksburg, South Africa
Futures Experience: Advanced
Platform: IG Markets
Broker/Data: Ideal
Favorite Futures: Stocks,Indexes
bobc's Avatar
Posts: 13 since Jun 2010
Thanks: 18 given, 7 received

Dear All

This is Bobc from sunny South Africa.
I found the "Big Mike" site while searching for a simplified Al Brooks. His comvoluted writing and haphazard editing is difficult to follow. Every page has to be read 3 times. But the information is pure gold.
I can't use most of the prizes on offer because I trade in South Africa, so I submit the following to try and win an elite membership.

There is a book out there titled "Outliers" by Malcomn Gladwell which makes some interesting statements. Amongst others he claims the closer you are born to the 1st January in any year, the better off you are. Especially sport.
He also says you need to put in 10000 hours to be proficient in that endeavour. That means 8 hours a day for 250 week days for 5 years. To study to become a doctor, that's exactly how many hours you study. Imagine how good you would be if hit golf balls 8 hours a day for 5 years.
So, the same applies to trading. To know what you are doing requires 8 hours a day 250 days a year for 5 years. If you trade part time like me, 3 hours a day 200 days a year, it's going to take you 16 years to become profitable. Check how long you have been trading to see where you stand in this analogy. Nobody said it was easy.



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Old June 25th, 2010, 05:45 AM   #28 (permalink)
Just starting out...
Germany - Hannover
Futures Experience: Intermediate
Platform: NinjaTrader Metatrader
Broker/Data: Zen-Fire
Favorite Futures: ES Bund Forex Eurostoxx
Posts: 1 since Sep 2009
Thanks: 0 given, 0 received

Congratulations for a good tradingforum.
Communication around the world, changing ideas is a spirituell way of living.
This will be the future of the mankind ....


Old June 25th, 2010, 12:05 PM   #29 (permalink)
Zb Trader
Futures Experience: Intermediate
Platform: ninja trader+tws
Broker/Data: amp/cqg
Favorite Futures: zb and es
tbondtrader's Avatar
Posts: 350 since Jul 2009
Thanks: 797 given, 383 received

trading is like ping pong price goes up it goes down.

thanks big mike

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Old June 26th, 2010, 01:48 AM   #30 (permalink)
Site Administrator
Manta, Ecuador
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
Big Mike's Avatar
Posts: 45,432 since Jun 2009
Thanks: 28,836 given, 79,553 received

Thank you to all who participated! The creativity some of you have shown is quite awesome!

The contest is now over, and the threads closed to new entries. The moderators will be selecting the winners in each category between now and the end of June, and we will announce the winners soon.


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.
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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