Education by Gambler - Psychology and Money Management | futures io social day trading
futures io futures trading


Education by Gambler
Updated: Views / Replies:2,021 / 21
Created: by Gambler 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
 

Education by Gambler

  #11 (permalink)
Elite Member
Singapore
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage, Continuum
Favorite Futures: FESX, FGBL
 
Posts: 85 since Apr 2013
Thanks: 21 given, 141 received


Gambler View Post
We already know that our first problem is to overcome emotions and fears.
How we can do that? There are two options:
1. Hire a psychologist
2. Do it yourself
We'll review option 1 first.
It's expensive you can say. No it is not. There are tons of psychos oversea that you can hire through Skype for $25 -40 per hour.
If you speak another language you can try those countries the language you speak. If you speak only
English you can try Philippines or India as an example.
You need to find the one who can teach you control your mind, your emotions and fears.
Expect to do it for year once a week. So you need to find about $120 a month extra money to spend on psycho.
It's $1560 per year. It is expensive you can say.
I can tell you it would be the best money you've ever spent. It will pay you back in real life.
You change yourself first of all. You become a different person.
And it will help you to become a profitable trader.
Also it should be a good psycho and you should get homework from him/her after each lesson.

I guess, specifically, this was the post that I disagree with. The first problem is NOT to overcome emotions. First thing first is to sit beside a successful trader and watch him trade. Actually, by sitting next to a successful trader, you'll probably also be learning how to handle emotions as well.... so basically Kill 2 birds with 1 stone.

I wouldn't seek help from an arm chair professor right off the start, because that's all he does, sit on an arm chair, he's not actually trading. That would probably be something I would do if I was already way ahead in my game (e.g. I'm making like 200k a year consistently and I really want to break the plateau and make 1 million a year).

Maybe I'm not really understanding your post, but this that I thought you mean. Correct me if i'm wrong.

Cheers!

Reply With Quote
The following user says Thank You to KelvinKing for this post:
 
  #12 (permalink)
Elite Member
Gomel, Belarus
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ZW,ZS,ZC
 
Gambler's Avatar
 
Posts: 44 since Sep 2014
Thanks: 8 given, 13 received


KelvinKing View Post
I guess, specifically, this was the post that I disagree with. The first problem is NOT to overcome emotions. First thing first is to sit beside a successful trader and watch him trade. Actually, by sitting next to a successful trader, you'll probably also be learning how to handle emotions as well.... so basically Kill 2 birds with 1 stone.

I wouldn't seek help from an arm chair professor right off the start, because that's all he does, sit on an arm chair, he's not actually trading. That would probably be something I would do if I was already way ahead in my game (e.g. I'm making like 200k a year consistently and I really want to break the plateau and make 1 million a year).

Maybe I'm not really understanding your post, but this that I thought you mean. Correct me if i'm wrong.

Cheers!

The problem is that we look at it through our experience.
I spent 6 years to educate myself. Two times I quit even I did not start to trade. I did not believe I can make it.
One time it was for year, another half a year. Then one day I realized I'm ready. I made profit for that year. It's my second year. My goal for this year to learn but make money. I'll finish this year with profit but my point is to learn.
Your experience(I'm guessing) went through a lot of psychological pain and losses. You believed that it had something to do with Karma at some point.
To sum it up. Whatever works for you you should apply it. The goal is to be profitable.
I actually wrote my education process for beginners. They fail on emotions and fears. I'm pretty confident at that.

Reply With Quote
 
  #13 (permalink)
Elite Member
Sydney Australia
 
Futures Experience: Beginner
Platform: CQG,NinjaTrader
Favorite Futures: Oil, ES, Bund, Currencies
 
teee's Avatar
 
Posts: 47 since Nov 2014
Thanks: 132 given, 95 received



KelvinKing View Post
I guess, specifically, this was the post that I disagree with. The first problem is NOT to overcome emotions. First thing first is to sit beside a successful trader and watch him trade. Actually, by sitting next to a successful trader, you'll probably also be learning how to handle emotions as well.... so basically Kill 2 birds with 1 stone.

I wouldn't seek help from an arm chair professor right off the start, because that's all he does, sit on an arm chair, he's not actually trading. That would probably be something I would do if I was already way ahead in my game (e.g. I'm making like 200k a year consistently and I really want to break the plateau and make 1 million a year).

Maybe I'm not really understanding your post, but this that I thought you mean. Correct me if i'm wrong.

Cheers!



Seems like you really reckon sitting next to a successful trader is the way to go. In theory you will learn how he trade, which includes execution, trading system, money management, psychology and every other key characteristics a successful trade suppose to possess. But there is a few problems here. 1) successful traders are rare animals, it's hard to find one and it's harder to get one to coach you one on one. 2)good traders may not be good teachers, they know how to trade profitably but may not be efficient in delivering every bits of their thoughts to you. They recognise good set-ups in the market only because they accumulated vast screen time, they can tell you the reason why they think it's good but do you think you can apply it when the situation comes? doubt it. 3)trading is a career of lone wolf, you can bump ideas from other but what you can learn from others is extremely limited. Do you think successful traders achieve what they had achieved because they learnt it off another successful trader? At the end of the day, all the real successful traders are all coaches of themselves.

Of course you need the knowledge of market, you need to know what a candlestick means or how MACD or RSI is formulated or how to place an order, but they are the very basic fundamental basics that you supposed to know when you come in to the trading industry. They are rock solid facts easily learnt. On the other hand psychology is the game of next level. If you think about it, trading is all based on your decisions and your brain is the one that make decisions, hence whatever happening there without a doubt is important.

That being said, it varies depending on different people's circumstances and what stage of trading are they currently in, if you are rather novice, yeah sure you will probably learn more sitting next to a "successful" trader rather than diving yourself into the trading psychology.

Reply With Quote
 
  #14 (permalink)
Elite Member
Gomel, Belarus
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ZW,ZS,ZC
 
Gambler's Avatar
 
Posts: 44 since Sep 2014
Thanks: 8 given, 13 received

Some updates

I've searched through the website to look at strategies. I was impressed with below thread by @gtrader62. Highly recommend to implement his strategy if you can understand and learn it.
It does make sense what this guy is saying. The only part is where I have some doubts is when he talks how much he made. It is understandable. He mentioned it as well. Trading is visual. We need to see a statement .

https://futures.io/elite-trading-journals/31774-indicators-market-structure.html

If someone has seen detailed threads with strategies like above please point me.

Reply With Quote
 
  #15 (permalink)
Elite Member
Gomel, Belarus
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ZW,ZS,ZC
 
Gambler's Avatar
 
Posts: 44 since Sep 2014
Thanks: 8 given, 13 received


gtrader62 View Post
be happy to show...what no one else is willing to do.

And I am showing this to all...as a measure of trust. I have no ego issue in showing this to you.


As I constantly share with traders: MARKETS ARE NOT RANDOM.

Attachment 180072

Attachment 180073
Attachment 180074


I hope this ends disbelief.

Is it possible to show for this year? I showed you mine .
I like your strategy. Working on charts every day.

Reply With Quote
 
  #16 (permalink)
Elite Member
Gomel, Belarus
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ZW,ZS,ZC
 
Gambler's Avatar
 
Posts: 44 since Sep 2014
Thanks: 8 given, 13 received

My statement

I'm a rookie gambler. Last year I traded for 3 months. This year I started in February. Still learning a lot.
Thanks to gtrader62 and others from this forum who gave me some light.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

@gtrader62 I made more winning trades after that.

Reply With Quote
 
  #17 (permalink)
Elite Member
Gomel, Belarus
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ZW,ZS,ZC
 
Gambler's Avatar
 
Posts: 44 since Sep 2014
Thanks: 8 given, 13 received


gtrader62 View Post
I am aware traders want assistance.

Do you use any reports like The Hightower Report?

And thanks for sharing. I found a lot in your posts.

Reply With Quote
 
  #18 (permalink)
Elite Member
Gomel, Belarus
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ZW,ZS,ZC
 
Gambler's Avatar
 
Posts: 44 since Sep 2014
Thanks: 8 given, 13 received

My thoughts

You mentioned that traders need an assistance. I'll try to pay you back for your tips. I mentioned that I like your strategy. I consider it as an advanced retail strategy. I think you need to change the way you are processing information. You think as an advanced retail trader. I have no doubts that you make money. You can make much more with the same capital if you start to think as a master. Think why I said that. Below are your words.
Ask... ask...ask....seek, seek, seek....knock, knock, knock...the door will be opened.

I'm a rookie gambler. I might be wrong of course. You can lough from what I said above and forget about it or .......
Ask... ask...ask....seek, seek, seek....knock, knock, knock...the door will be opened.

Thanks a lot again.

Reply With Quote
 
  #19 (permalink)
Elite Member
Gomel, Belarus
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ZW,ZS,ZC
 
Gambler's Avatar
 
Posts: 44 since Sep 2014
Thanks: 8 given, 13 received

Mentors

I prefer a lone wolf road . Let's finish this healthy conversation. Each of us to remain unconvinced.
Everyone has a reason for that.

Reply With Quote
 
  #20 (permalink)
Elite Member
Gomel, Belarus
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ZW,ZS,ZC
 
Gambler's Avatar
 
Posts: 44 since Sep 2014
Thanks: 8 given, 13 received



gtrader62 View Post
My name is: "Orolo-a"

Thanks,

Reply With Quote

Reply



futures io > > > Education by Gambler

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Looking for trading education donalddye Traders Hideout 11 April 23rd, 2014 02:10 PM
Education of a Speculator dutchbookmaker Off-Topic 1 August 4th, 2011 08:21 PM
China to Stay a Low-Key Gambler in Middle East Quick Summary News and Current Events 0 March 1st, 2011 03:00 AM
60 Minutes: "The Gambler" shodson Traders Hideout 2 January 18th, 2011 02:14 PM
Luv that line... "i'm not a f*cking gambler" trendisyourfriend Off-Topic 0 November 18th, 2010 02:05 PM


All times are GMT -4. The time now is 08:24 PM.

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 2017-12-10 in 0.30 seconds with 20 queries on phoenix via your IP 54.83.122.227