What was your biggest misconception? - Psychology and Money Management | futures io social day trading
futures io futures trading

What was your biggest misconception?
Updated: Views / Replies:9,018 / 74
Created: by tturner86 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 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

What was your biggest misconception?

  #61 (permalink)
Elite Member
Winnipeg, Canada
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES/ZB
Posts: 106 since Apr 2015
Thanks: 94 given, 167 received

That it was all about my entry strategy.

"if i could only find a way to enter profitable trades " - thats what i remember thinking when I first started out.

Reply With Quote
The following 3 users say Thank You to RielA for this post:
  #62 (permalink)
Elite Member
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: None
Favorite Futures: ES, YM
Posts: 24 since Aug 2009
Thanks: 13 given, 6 received


A few stick out

1. This other market over here is easier to trade.

2. Too little effort at first at clues to what type of day is playing out. Trend, range bound etc..

3. Spending too much time on indicators, setups and not just risk to reward.

Reply With Quote
  #63 (permalink)
Elite Member
Leeds UK
Futures Experience: Intermediate
Platform: FXTrade
Broker/Data: Interactive Brokers, CapitalSpreads, Oanda
Favorite Futures: GBP/USD
Tymbeline's Avatar
Posts: 425 since Apr 2015
Thanks: 991 given, 534 received

Zwaen View Post
one of them was thinking trading was something which could be learned from books

One of my initial misconceptions was even worse than that: I thought it could be learned from forum information and input from people who were promoting various products and services.

I also failed (for an embarrassingly long time) to appreciate that an entry-method isn't a trading-method, and took a long time to learn that trade management and money management are far more important than entries.

But mostly, I imagined trading was about finding ways to maximize profit rather than about finding ways to minimize risk.

Reply With Quote
The following 4 users say Thank You to Tymbeline for this post:
  #64 (permalink)
Elite Member
Vancouver Canada
Futures Experience: Beginner
Platform: Investor RT & Ninja
Broker/Data: IB & IQ DTN
Favorite Futures: ES
Posts: 1,106 since Nov 2014
Thanks: 2,132 given, 1,650 received

My focus (and obsession) on win rate, seeking more than 50%.

Reply With Quote
  #65 (permalink)
Elite Member
Cincinnati Ohio
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: CL, ES
Silver Dragon's Avatar
Posts: 1,617 since Feb 2011
Thanks: 4,021 given, 3,382 received
Forum Reputation: Legendary

Recently learned: I thought day trading was more profitable than longer term trading simply because you could make more trades and have more opportunity to make trades. I was wrong.. In the world of trading: less is more.


nosce te ipsum

You make your own opportunities in life.
Reply With Quote
The following 5 users say Thank You to Silver Dragon for this post:
  #66 (permalink)
Market Wizard
Futures Experience: Advanced
Platform: Spoon!
Rory's Avatar
Posts: 2,743 since May 2014
Thanks: 5,444 given, 8,116 received

Many from those posting before, but the disappointing one..

That I could freely move around the world while trading Futures.. I used to work I.T. contracts and bounced around customer sites, hotels, countries and never a beat skipped...

Now in order to function consistently I need my world very ordered and everything around me predictable & boring during the week. I feel like Indiana Jones turned into into Rainman sometimes.

No trading from exotic hotel lobbies for me.

Reply With Quote
The following 7 users say Thank You to Rory for this post:
  #67 (permalink)
Trading Apprentice
Chandigarh, India
Futures Experience: Intermediate
Platform: Amibroker, MW TickerPlant
Broker/Data: Self
Favorite Futures: Crude Oil
nikhil89's Avatar
Posts: 5 since May 2016
Thanks: 0 given, 0 received

Believing in trading quotations & market wisdom from super star traders & taking them as valid at face value without understanding the context in which they were actually said.
I have lost the biggest amount of money on the most famous trading quote - Cut your losses short and let your winners run

Now wisdom is great but in context of day trades applying this wisdom probably makes one poorer rather than richer financially & psychologically

Reply With Quote
  #68 (permalink)
Trading Apprentice
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader Continuum
Favorite Futures: 6B, 6C and YM
Posts: 8 since Sep 2011
Thanks: 9 given, 6 received

My biggest misconception? Hmm, so difficult to choose one!

If I had to choose one, it would be completely underestimating the effect of luck on short-term results. That no matter how hard you try (<- a waste of time and energy), you cannot escape the fact that the markets are way too efficient to blame yourself for losers, or congratulate yourself for individual losing/winning trades respectively.

"Bad" things happen in the short-term when executing a good plan and "Good" things happen in the short-term when executing a bad plan and everything in between.

Any edge that is available will be blasted away very quickly by untamed cognitive biases and any deviation from near 100% objectivity. Took me nearly a decade to fully accept this.

Reply With Quote
The following user says Thank You to Market Monkey for this post:
  #69 (permalink)
Elite Member
Omer עומר / Israel י
Futures Experience: Master
Platform: NinjaTrader, Proprietary,
Broker/Data: Ninjabrokerage/IQfeed + Synthetic datafeed
Favorite Futures: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
rleplae's Avatar
Posts: 2,707 since Sep 2013
Thanks: 1,982 given, 4,310 received
Forum Reputation: Legendary

Thinking that a system exists (can be bought), or can be build (it it does not exist) that does it all for you...

(Sit on the beach with a Pinacolada waiting for the profit to be added to the account...)

Reply With Quote
The following 2 users say Thank You to rleplae for this post:
  #70 (permalink)
Elite Member
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: InteractiveBrokers
Favorite Futures: NQ
SoftSoap's Avatar
Posts: 594 since Aug 2015
Thanks: 347 given, 1,215 received

Thinking that because I got 'mad' while on sim and managed to calm myself, psychology in live-trading would be easy.

Yesterday's excellence is today's standard and tomorrow's mediocrity
Reply With Quote
The following user says Thank You to SoftSoap for this post:


futures io > > > What was your biggest misconception?

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
biggest misconception learning0101 Beginners and Introductions 2 October 10th, 2014 12:52 PM
What is your biggest trading challenge? Big Mike Traders Hideout 51 July 2nd, 2014 04:22 PM
What gives you the biggest edge in trading? Yuri57 The Elite Circle 1 June 28th, 2014 02:26 AM
The biggest threat to our nation.... RM99 Off-Topic 1 May 31st, 2011 07:42 PM

All times are GMT -4. The time now is 03:26 AM.

Copyright © 2018 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 2018-05-21 in 0.11 seconds with 19 queries on phoenix via your IP