Job Description - Psychology and Money Management | futures io social day trading
futures io futures trading


Job Description
Updated: Views / Replies:792 / 4
Created: by David_R Attachments:0

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 – 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 don’t 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
 
Thread Tools Search this Thread
 

Job Description

  #1 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
Favorite Futures: Something moving
 
David_R's Avatar
 
Posts: 1,510 since Nov 2009
Thanks: 2,267 given, 2,371 received

Job Description

I know when I wanted to start trading that I did not take it seriously. I thought I could get a platform, get some indicators, open an account and make some money. I learned quickly and the hard way it doesn't work that way. To this day I probably am not as dedicated to trading as I should be before I put on a trade. I have a plan, but its a work in progress. I have a day job so I tell myself that I don't have the time to journal.

I came across this job description on the Traders Help Desk site. I thought that its something that I need and felt that others may benefit. They let me reprint the job description here.

D


Overview

This is a job description for those engaged in intra-day trading. It assumes the trader is self-employed and does not trade other people’s money.


Job Description

Trader’s primary responsibility is preservation of capital, and shall refrain from any trading activity that violates this highest priority objective.

Trading hours are from 9:30 AM (EST) to 12:00 PM and from 2:00 PM to 4:00 PM. Trader’s undivided attention must be focused completely on the market during this time. No extraneous activity is permitted. Short (3 minute) breaks are permitted as necessary so long as a potential authorized setup is not pending.

A review of the current charts and trade plan must be completed 15 minutes prior to market open. Trader is strongly encouraged to use the 15 minutes immediately preceding market open to meditate and/or visualize executing trades per the trade plan.
Trader must maintain the following documents during the trade day, or just after market close:
Trade log (including time, entry price, initial risk, exits, net profit/loss)
Trade journal (showing my reasoning behind taking the trade and whether any of my trade plan rules were violated)
Trader psychology journal (documenting my thoughts and emotional state just prior to and during the trade)
Trader shall wait, patiently, for high quality setups to occur.
Trader shall execute trades per pre-existing trade plan. No early or late entries are permitted.
Trader shall use money management guidelines (# of contracts and placement of stop loss) as documented in the trade plan. No excessive risk taking is permitted.

Trader shall utilize stop loss limit orders at all times. Initial placement and trailing stop location is to be determined prior to entry.

Trader shall wait, patiently, for predetermined profit target(s) to be hit so long as there is technical indication the trend is strengthening. No early or late exits are permitted.

Trader shall immediately cease all trading activity should any unexpected event occur that jeopardizes his/her ability to execute trades per the trade plan.

Trader shall conduct a weekly review each Sunday, prior to resuming trading activities on Monday, of the prior week’s activity. Any identified weakness or repeated plan violation shall be noted and a plan to remediate the issue documented in the trade journal.

Monthly and quarterly reviews will also be conducted to determine progress against the annual business plan.
A new business plan shall be created at the end of the year with updated goals and income targets for the following year.

Reply With Quote
The following 11 users say Thank You to David_R for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Master
Platform: ninjatrader, r-trader
Favorite Futures: CL, NG, TF, NQ, YM, GC, ES
 
liquidcci's Avatar
 
Posts: 862 since Jun 2011
Thanks: 609 given, 1,051 received


I think most people enter trading not realizing what it entails. Sounds like an exciting way to make fist loads of money. But it is really something all together different and looks much like the above. Just grinding it out day by day doing what your plan says. Fist loads of money very possible but only with much patience and military style discipline.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
Reply With Quote
The following 3 users say Thank You to liquidcci for this post:
 
  #4 (permalink)
Membership Permanently Revoked
copenhagen denmark
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Es
 
Posts: 41 since Aug 2011
Thanks: 0 given, 26 received

Sounds like a job description for a prop firm.

Would be better to show one from a good hedge fund or something similar . This job description sounds alot like someone who imagined themselves to what a pro trader would be doing . Most of the points are good tho . Just be careful with the blind leading.

Reply With Quote
 
  #5 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
Favorite Futures: Something moving
 
David_R's Avatar
 
Posts: 1,510 since Nov 2009
Thanks: 2,267 given, 2,371 received


Kingpin View Post
Sounds like a job description for a prop firm.

Would be better to show one from a good hedge fund or something similar . This job description sounds alot like someone who imagined themselves to what a pro trader would be doing . Most of the points are good tho . Just be careful with the blind leading.

I was told that it was one of the clients from tradershelpdesk.com. They took it upon themselves to create a job description based on comments from Gail at THD. She strongly encourages traders to treat trading like a business and like its your job.

I think the idea is as you said. Someone imagining themselves as a pro trader, but trying to be serious about it. Creating a process or routine.

Reply With Quote

Reply



futures io > > > Job Description

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
Quitting Day Job for Entry Level Trading Job. Crazy? Morris Traders Hideout 9 July 5th, 2015 10:23 PM
The Italian Job redratsal Traders Hideout 667 May 9th, 2014 03:54 AM
description of VBar for Better Volume 3 tomek001 NinjaTrader 3 April 17th, 2011 09:15 PM
Optimus/Broker Job mattz Off-Topic 0 December 1st, 2010 11:22 PM
Market Maker's job alex123 Psychology and Money Management 5 November 12th, 2009 02:55 AM


All times are GMT -4. The time now is 06:17 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 2017-12-14 in 0.10 seconds with 19 queries on phoenix via your IP 54.160.245.121