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going live...
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going live...

  #11 (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: 29,352 given, 83,233 received

Watch webinar:
Webinar: Where to start as a trader? (Part I: Instruments and Brokers)

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)
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  #12 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,933 given, 2,786 received
Forum Reputation: Legendary

With $50K you have such an advantage where I truly suggest you trade 2 lots per contract and allow double the drawdown that you would allow for 4 contracts.

Swing trade first because you do have the margins to maintain and the capital to absorb the "noise" that the markets present. You will find that when you work with larger time frames you don't need that precise entry, and indicators actually do work much better on larger time frames in my opinion.

You will make mistakes. It's ok. Make intelligent mistakes and you will refine your method.

Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #13 (permalink)
 Vendor: www.indicatorx.com 
Bridgwater, UK
 
Futures Experience: Beginner
Platform: Ninjatrader
Broker/Data: MB Trading
Favorite Futures: Forex
 
mokodo's Avatar
 
Posts: 384 since Jun 2011
Thanks: 525 given, 344 received

Welcome


Hi,

Welcome to a Londoner (I'm based in the South West in sleepy Somerset).
  • Start tiny (microforex is no embarrassment, it's what I trade and I've been live for 2 years+)
  • Keep a journal, starting one here on futures.io (formerly BMT) and inviting comments has given me priceless input
  • Get active on futures.io (formerly BMT), in my opinion, this is the ultimate training ground for self directed learners and you will get out what you put in
  • And as @josh says, keep a tight drawdown limit so you can shut it down and allow a decent review
  • Did I mention keep a journal, oh I did already
  • Keep a journal
  • Keep a - you get the point
Wish you good fortune and happy trading

know thyself
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  #14 (permalink)
Trading Apprentice
New York, NY
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Forex
 
Posts: 6 since Feb 2013
Thanks: 0 given, 2 received

My biggest beginner mistake was to make trade after trade without having a clear mind. For me staying focused and rational is key!

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  #15 (permalink)
Elite Member
milwaukee,wi, usa
 
Futures Experience: Intermediate
Platform: Mobile TWS & mobile TOS. Dough.com
Broker/Data: IB, TOS, FXCM
Favorite Futures: futures and options. looking into forex
 
lrfsdad's Avatar
 
Posts: 186 since Nov 2012
Thanks: 302 given, 160 received

Congrats on finding a method you are consistent with! That itself is a huge accopmlishment. Listen to the risk management parameters being suggested and keep us posted on how you are doing.

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