Which level of trader are YOU? - Psychology and Money Management | futures io social day trading
futures io futures trading


Which level of trader are YOU?
Updated: Views / Replies:5,066 / 53
Created: by bluemele Attachments:1

Welcome to futures io.

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

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

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

Reply
 1  
 
Thread Tools Search this Thread
 

Which level of trader are YOU?

  #31 (permalink)
Logician
Chicago, IL/USA
 
Futures Experience: Advanced
Platform: CTS T4/Sierra Chart
Favorite Futures: Futures
 
zer0's Avatar
 
Posts: 139 since Jun 2011
Thanks: 49 given, 186 received

'Conscious Competence' as I'm a rule-based trader.

Reply With Quote
 
  #32 (permalink)
Membership Permanently Revoked
 
Futures Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 844 received


bluemele View Post
.... bonafide hedgers who 'waste' money to hedge. .

money is never wasted if it protects you from undesired risks... think about it this way, why are there now weekly options? simplest answer: because it is the cheapest way to protect a portfolio profits from events taking place over the weekend or overnight.. super cheap to protect your position and view from the unexpected... is it a waste?? what happens if the founders of google die in a plane crash overnight, for arguments sake - they have no succession plan in force, and you are holding 5% of your portfolio or 2Billion or so or whatever? do you think you still wasted that money if it protects you against said event? such is the nature of derivatives... people tend to forget the whole point of why they exist..

Reply With Quote
 
  #33 (permalink)
Membership Permanently Revoked
 
Futures Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 844 received



bluemele View Post
Ok, you have to read the attached, and it is something I have had in my position for about 1.5 years and really enjoy reading it every once in a while.

I find it a bit inspirational.

Which level of trader are you?

I believe I am probably in the 3.3 - 3.7 range with the occasional relapse to 1.1!

Good reading!

good read, thanks for sharing...

Reply With Quote
The following user says Thank You to sysot1t for this post:
 
  #34 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received


sysot1t View Post
money is never wasted if it protects you from undesired risks... think about it this way, why are there now weekly options? simplest answer: because it is the cheapest way to protect a portfolio profits from events taking place over the weekend or overnight.. super cheap to protect your position and view from the unexpected... is it a waste?? what happens if the founders of google die in a plane crash overnight, for arguments sake - they have no succession plan in force, and you are holding 5% of your portfolio or 2Billion or so or whatever? do you think you still wasted that money if it protects you against said event? such is the nature of derivatives... people tend to forget the whole point of why they exist..

Completely agree. Hence the "'" around waste.

Reply With Quote
 
  #35 (permalink)
Membership Permanently Revoked
 
Futures Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 844 received


bluemele View Post
Completely agree. Hence the "'" around waste.

blame it on the fact that I am still sick with the flu.. sucks.. it slows down my thought process and I miss little thigns sometimes... but that is why I dont trade while I am sick... i merely chill and goof..

Reply With Quote
 
  #36 (permalink)
Trading Apprentice
Kuala-Lumpur
 
Futures Experience: Advanced
Platform: MT4
Favorite Futures: eur/usd
 
Master P's Avatar
 
Posts: 2 since Sep 2011
Thanks: 0 given, 1 received

I am in trading already for 4 years, and i can't tell that i am an advanced trader or master of it))) I think every day we are learning and getting good knowledges, so i am just begginer, and it is good, information is everything for me

Reply With Quote
The following user says Thank You to Master P for this post:
 
  #37 (permalink)
Trading Apprentice
Nashua New Hampshire
 
Futures Experience: Master
Platform: NinjaTrader, TradeStation
Broker/Data: optimusfutures.com, Optimus Futures
Favorite Futures: TF
 
tradetree's Avatar
 
Posts: 32 since Sep 2011
Thanks: 6 given, 26 received


Master P View Post
I am in trading already for 4 years, and i can't tell that i am an advanced trader or master of it))) I think every day we are learning and getting good knowledges, so i am just begginer, and it is good, information is everything for me

I have a general question and I hope it is not too far off topic. For members on this thread that are not yet profitable, have you taken one of the documented strategies that are on this list (other threads) and tried them? I have my own strategies that are profitable, but I've recently wondered why people are not profitable with the help that is out there? There are whole threads on BigMike's devoted to one particular method and they are supposed to be making profits. So why can't everyone just jump on those?

Reply With Quote
 
  #38 (permalink)
Elite Member
Pula, Croatia
 
Futures Experience: Intermediate
Platform: NinjaTrader, Amibroker
Favorite Futures: Forex, Stocks
 
Posts: 7 since Aug 2011
Thanks: 11 given, 5 received


tradetree View Post
I have a general question and I hope it is not too far off topic. For members on this thread that are not yet profitable, have you taken one of the documented strategies that are on this list (other threads) and tried them? I have my own strategies that are profitable, but I've recently wondered why people are not profitable with the help that is out there? There are whole threads on BigMike's devoted to one particular method and they are supposed to be making profits. So why can't everyone just jump on those?

Well, my personal experience is it is extremely hard to trade other people systems.

To trade well you need good discipline, and if you don't trust the system completely you just can't trade it. First bigger drawdawn and you will start to doubt it. Only if you have developed the system yourself can you trust it enough to keep good discipline and take the trades it tells you to.

Other people systems and strategies are a great way to learn what works and what doesn't, and I use them mostly to try new strategies, or optimize existing ones, but I would never follow them blindly.

Reply With Quote
The following user says Thank You to Messk for this post:
 
  #39 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received


tradetree View Post
I have a general question and I hope it is not too far off topic. For members on this thread that are not yet profitable, have you taken one of the documented strategies that are on this list (other threads) and tried them? I have my own strategies that are profitable, but I've recently wondered why people are not profitable with the help that is out there? There are whole threads on BigMike's devoted to one particular method and they are supposed to be making profits. So why can't everyone just jump on those?

I don't believe anyone trades a truly mechanical system without updating that system which requires experience and skill.

To take someone off the street and say, here, go trade this system is a bit challenging.

It is not that one doesn't 'trust' as I did and lost over 200K 'trusting' other systems to perform all the way down to '0'. These were systems that performed exceptionally well over the last few years, etc... What I learned is that market dynamics change and as a new technical trader, then it is much more difficult to trade the system appropriately or alter it in any way.

Any system can make money. I am on SIM for 1 year now since deciding that being break even is not the way to go. My system is highly discretionary utilizing a bit of price action. Could I be profitable live. YES. Could I be REALLY profitable live! Not yet. Well then, is it my 'system' or is it me. Both, but mostly ME.

As a fundamental trader, I was profitable over 12 years. But I don't consider that counting or at a scale where I want to be.

If you have a system that can make 200K per day, sign me up and I will buy-in, but I need to see some bank and IRS statements at this point.

Reply With Quote
 
  #40 (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: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received



bluemele View Post
If you have a system that can make 200K per day

Sure, I can do that. But on its losing days.....



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.

Reply With Quote
The following user says Thank You to Big Mike for this post:

Reply



futures io > > > Which level of trader are YOU?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Time and Sales - Level I - Level II - tick data trendisyourfriend Traders Hideout 4 August 28th, 2014 01:14 AM
Webinar Psychology Video: Dr. Brett Steenbarger - Next level of trader development max-td Psychology and Money Management 5 October 28th, 2013 08:37 AM
Trader Interview on reading order flow with level 2 data gilyee Traders Hideout 1 December 11th, 2010 05:04 PM
Need Level II and Level I realtime or historical data ptd26 Reviews of Brokers and Data Feeds 5 March 26th, 2010 04:27 PM
Just2Trade Level I and Level II Quote Quality? ptd26 Reviews of Brokers and Data Feeds 1 February 10th, 2010 08:15 PM


All times are GMT -4. The time now is 02:39 AM.

Copyright © 2017 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
Page generated 2017-12-15 in 0.14 seconds with 20 queries on phoenix via your IP 54.226.132.197