New Year's Resolution(s) - Psychology and Money Management | futures io social day trading
futures io futures trading

New Year's Resolution(s)
Updated: Views / Replies:4,793 / 33
Created: by Big Mike Attachments:3

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

Thread Tools Search this Thread

New Year's Resolution(s)

  #1 (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: 46,336 since Jun 2009
Thanks: 29,452 given, 83,947 received

New Year's Resolution(s)

Well my friends, 2010 is nearly upon us! It made me wonder, what New Year's Resolution(s) will you make for 2010 that are related to your trading?

I have more than one:

- Read more about: Psychology, Personal Triumph, Biographies on Traders
- Read less about: Charts, Systems/Strategies, Quantitative Trading
- Eat healthier - yes, it does relate because when you feel better you trade better
- Seek out new remedies for my sleeping disorder - most certainly affects my trading
- Put more in savings than I did last year
- Help more people via (formerly BMT) than I did last year

I look forward to reading your Resolution(s)! I hope everyone shares, and then a year from now we can check in and see how everyone did.

Most of all, I hope each of you cherish your time this Holiday Season with your friends and family, and make the most of the New Year!


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.

Reply With Quote
The following 13 users say Thank You to Big Mike for this post:
  #2 (permalink)
Elite Member
Futures Experience: Master
Platform: TT, NT, MetaTrader
Broker/Data: Velocity Futures, MB Trading
Favorite Futures: EUR/USD
George's Avatar
Posts: 401 since Jun 2009
Thanks: 1,005 given, 1,186 received

Well Mike,

This is always a tough one! I don't know about you people, but I always had problems with all these New Years Resolutions. Mostly because they implied quit smoking, and other habits that are destructive and has to do with discipline.

Actually, after failing upon completing them, well not always but almost. I decided to give them up. And after years of search I realized that discipline is a hard thing to practice because it's about a part of your conscious mind that's called will power, and that is temporary. I further realized that the result is not always the desired one because all those things you want to accomplish are always some sort of contrary point to what you aim for. Let me explain myself.

Life is actually pretty simple. It's only about two basic things. The two P's! We always do these two things:

1. We always look for Pleasure, and
2. We always want to avoid Pain.

Remember that these two things are different for all of us, because it's actually about what we define as pleasure and pain.

Now if you want to quit smoking. The effect will be pleasure, but to get there it requires pain.
If you want to eat healthier food, the effect is great but the road is painful.
That's why you keep yourself on the same path, being stuck with all your bad habits. Because per definition they give you more pleasure then pain.

So, that's why I gave them up. And I intend to keep on not having them.

BUT, And I apologize Mike!
In order to not mess up Mikes intention and thread. I can use some bullet points , and tell you, what I'm struggling with and want to change!

1. Eat healthier food (hope is OK if I hijack that one Mike )
2. Become more aware of myself
3. Become more brave and get rid of fear
4. Let go of things with ease that's affecting me in my life
5. Trade whenever I want to IF I want to or feel like I want to
6. Get rid of all my money blocks
7. Spend more time with my family and kids
8. Let go of the future, and let the now take care of things

My God, I feel naked


Reply With Quote
The following 7 users say Thank You to George for this post:
  #3 (permalink)
Elite Member
Futures Experience: Beginner
Platform: NinjaTrader, TOS
Posts: 798 since Jun 2009
Thanks: 109 given, 786 received

I grew up in an environment where having "stuff" was a sign of success. It wasn't until recently that I realized the most important "stuff" was a happy and healthy well-adjusted self, partner, family, and friends. 2010 is about risk management. Don't lose the happy and healthy well-adjusted self, partner, family, and friends. Avoid tradgedy.

And return 20% on the trading account.

Reply With Quote
The following 6 users say Thank You to MXASJ for this post:
  #4 (permalink)
Administrator: Retired Backtester
Rennes France
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB/Kinetick
Favorite Futures: Futures
sam028's Avatar
Posts: 3,414 since Jun 2009
Thanks: 3,610 given, 4,071 received

Not sure about which is #1 and which is #3, but it's something like:
#1 be more aggressive, take (a bit) more (calculated) risks
#2 spend less time on my screens/charts; I've seen enough unlikely things in real time (FRE/FNM, ES @ 667, LEH, C, ...), I'm ready for the next black swans and a huge VIX
#3 get focus on less instruments. Stocks, futures, options, a bit of Forex for hedging my USD positions, it's too much. Not so bad results in each one, but not good enough.
#4 think less
#5 stop coding smart indicators/strategies, it's a funny hobby, but don't help for making money
#6 no more than 2 indicators per charts (nearly already done)
#7 build a medium/long term/low risks stocks/options portfolio, without interfering with #3, and without spending 10 hours/week on it

And maybe some others, but it's enough for a year

Success requires no deodorant! (Sun Tzu)
Reply With Quote
The following 9 users say Thank You to sam028 for this post:
  #5 (permalink)
Elite Member
Lagos, Nigeria
Futures Experience: Intermediate
Platform: NinjaTrader, SierraChart
Favorite Futures: Euro Currency & Oil
lolu's Avatar
Posts: 2,444 since Jun 2009
Thanks: 1,000 given, 1,598 received

It is simple !



Reply With Quote
The following user says Thank You to lolu for this post:
  #6 (permalink)
Elite Member
Sydney, NS
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Zen-Fire
Favorite Futures: TF,S,GC
cclsys's Avatar
Posts: 607 since Nov 2009
Thanks: 248 given, 382 received

My one is simple at this point. Because I took a break from live/actual trading because of a combination of poor results and a worsening data connection (which has since improved a little but for a while was truly unworkable), and because my highspeed connection today was delayed for yet another month until Jan 8th at earliest, my resolution is:

a) I will not start trading live again until I have worked out a solid trading plan.
b) I will execute this plan, along with revising it in an intelligent fashion in terms of reviewing its and my strengths and weaknesses etc, for at least 3 months after the time I launch again.
c) I will document this in my journal pages here on (formerly BMT).

Reply With Quote
The following 6 users say Thank You to cclsys for this post:
  #7 (permalink)
Elite Member
Perdido Beach, AL
Futures Experience: Intermediate
Platform: graph paper
Favorite Futures: Guitar
websouth's Avatar
Posts: 1,150 since Jul 2009
Thanks: 1,094 given, 1,299 received

Well we are almost there...

This is good to write down. This year will be about FOCUS.

In 2010 I fully expect to have a fantastic year. I believe in balance. I have had a yin yang tatoo on my arm for 10-12 years...('cause i'm a moron and need a constant reminder I guess...) but it is a concept that I try to incorporate in everything I do. Yin and yang - Wikipedia, the free encyclopedia So a list of what I expect to do for myself in 2010 also needs a list of what I will do for others or it won't balance out.

For me -

*2010 will be a year of change for my family. Our goal is to move full time to Eleuthera in the Bahamas by the end of 2010.

*I will focus more on trading and trading well. Quit goofing off with ninja. It is a tool to accomplish a goal. Nothing more. 1 or 2 indicators more template shifting. I proved to myself I can trade off of different views (although similar views) stick with one and move on. (I deleted over 1250 templates and 400+ indicators this morning - 1st step is admitting the problem ha ha.... ). Go with largest timeframe I can manage risk on. Quit scalping. It has been more "thrilling" than profitable. Trade then shut it down.

*Bank profits for the move. No more toys...geez I have enough. Simplify in all aspects.

*Spend more time with my family and kids - this actually falls under both. Everybody wins with this one but I think I get a better deal....


For others -

*when not trading spend more time giving to others. I wrote this and realized it is vague and need to work on a commitment I can keep here....intention is to give more to local community... will revisit this one. Already do a few things but maybe take on additional responsibilities... yeah I know... I said maybe.

edit - OK - I am going to work with the local Habitat for Humanity program... working out the details.

It rarely makes the news but there are lots of fantastic people in this world who do amazing things to help others. My goal is to work towards making at least as much impact as these 2.

Ryan?s Well - It's Not Who You Are, it's What You Do : TreeHugger

Chicago Boy Raises Money

enterprising little buggers aren't they...feel kinda bad sitting on that couch watching the game, huh? geez.

*I gave to this in the past but will give something meaningful a minimum of 10% this year to this cause. It is a good program.
Ryan's Well Foundation


So word for the year is FOCUS. In all things.

clean water is a real problem in certain parts of the world... here are a few great products invented to help... if anyone wants to "borrow" from my resolutions.
The Hippo Water Roller : TreeHugger

Reply With Quote
The following 5 users say Thank You to websouth for this post:
  #8 (permalink)
Elite Member
Neubrandenburg, Germany
Futures Experience: Advanced
Platform: R
Favorite Futures: Stocks
wh's Avatar
Posts: 538 since Jun 2009
Thanks: 297 given, 482 received

i have no resolutions. but i will follow my mind map ( trading plan and method ).
this include a strong mind or better a clear mind for all trading session. i keep it simple.
one trade per day if a signal is in the market.

I will work with myself. I want to change bad patterns into positive patterns. I will not allow repetition (Read book of trading, the old behavior patterns --> to reduce my view). I will follow my simple trading plan and I will get through this.

I have now written so many times about doing it but again

1. meditation (Brain sync) (great stuff, alpha and theta make your mind happy)
2. sedona (mine is already)
3. core transformation (strong work)
4. they help me to take this away. and we have already mastered the december positive.

I am not spiritual, I only recognized my errors.

Causality is the relationship between an event (the cause) and a second event (the effect), where the second event is a consequence of the first.
Reply With Quote
The following user says Thank You to wh for this post:
  #9 (permalink)
Elite Member
Lagos, Nigeria
Futures Experience: Intermediate
Platform: NinjaTrader, SierraChart
Favorite Futures: Euro Currency & Oil
lolu's Avatar
Posts: 2,444 since Jun 2009
Thanks: 1,000 given, 1,598 received

Ohhhhhhhhhhhh, I forgot to include the most important (in my post # 5);

1. THANK GOD (not just on THANKSGIVING DAY), GLORIFY HIS NAME, SING, DANCE & PRAISE HIM everyday, every moment, every time and in ALL situations.

2. GIVE, GIVE, & GIVE (e. g. (formerly BMT) donations) TO THE NEEDYs.


Reply With Quote
The following user says Thank You to lolu for this post:
  #10 (permalink)
Elite Member
Futures Experience: Master
Platform: TT, NT, MetaTrader
Broker/Data: Velocity Futures, MB Trading
Favorite Futures: EUR/USD
George's Avatar
Posts: 401 since Jun 2009
Thanks: 1,005 given, 1,186 received

Happy New Year to everyone, and may all your resolutions come through!

We all struggle to make tomorrow look like yesterday!
Get rid of your past and let the future unfold from the now.
Past performance is not indicative of future results.
Reply With Quote


futures io > > > New Year's Resolution(s)

Thread Tools Search this Thread
Search this Thread:

Advanced Search

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

Wyckoff Hunting for Great Risk/Reward Ratio w/Gary Fullett

Elite only

Digging into the Details of iSystems w/Stage 5 & iSystems

Jun 5

Similar Threads
Thread Thread Starter Forum Replies Last Post
Is there a ticker for 30 year T bonds? Eg a continuous index for 30 year T bonds PositiveDeviant Bonds and Interest Rates Trading 2 June 28th, 2011 04:55 PM
U.S. House Defeats Resolution Authorizing U.S. Military Operation in Libya kbit News and Current Events 0 June 24th, 2011 01:58 PM
Optimize Chart Resolution Multicharts / Resolution as variable? Locust MultiCharts 2 September 30th, 2010 11:05 AM

All times are GMT -4. The time now is 04:27 AM.

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432,
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 2018-05-26 in 0.15 seconds with 20 queries on phoenix via your IP