Expanding the scope of what you are trading - Psychology and Money Management | futures io social day trading
futures io futures trading

Expanding the scope of what you are trading
Updated: Views / Replies:547 / 3
Created: by jonc 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

Thread Tools Search this Thread

Expanding the scope of what you are trading

  #1 (permalink)
Elite Member
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: -
Posts: 303 since Sep 2010
Thanks: 123 given, 137 received

Expanding the scope of what you are trading

For folks who are trading profitably and consistently in 2-3 instruments for a good period of time, do you see the need to look into trading other instruments and markets?

I'm looking at discretionary traders who spend huge amount of screen time daily

Different instruments have different behaviors, the method which is successful on one instrument generally cannot be applied wholesale to another (especially in different markets - eg forex vs indices vs commodities vs options) without changing at lest the parameters.

Looking and learning the behavior of a new market/instrument and modifying your method takes time and can disruptive to your actual trading which is bringing in the real income. Even the current instrument which you are trading could change in its behavior over time and you need to constantly update your trading approach to keep your trading results consistent. So you need still watch those you are familiar with constantly

The main reasons for looking at new instruments are increasing revenue streams and diversification.

I have a feeling most profitable traders are actually one trick ponies - they focus on one thing and do it particularly well, is there a need to learn another trick?

Last edited by jonc; January 27th, 2015 at 01:15 AM.
Reply With Quote
  #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)
Membership Temporarily Revoked
Calgary Alberta/Canada
Futures Experience: Advanced
Platform: TDWaterhouse
Favorite Futures: stocks (long term)
Posts: 934 since Feb 2014
Thanks: 180 given, 777 received

jonc View Post
I have a feeling most profitable traders are actually one trick ponies - they focus on one thing and do it particularly well, is there a need to learn another trick?

Hmmmm....well I have been doing basically the same type of trading since I started over 20 years ago, long term investment and long term swing trading in stocks.

I have at one time or another thought that options might be interesting to try, but rejected the idea when all the confusing jargon and procedures (to me anyway at the time) made no sense at the time. I thought of daytrading several times but frankly don't want or need the stress of sitting before a monitor waiting for an event to happen, recognizing it... getting in and then out... so, though I have some of the tools to execute and complete a trade , I lack the tools to find good opportunities to use these tools on.

Commodities and futures contracts are not my cup of tea either.

I make a pretty decent living at long term trading/swing equity trading. I find it constantly challenging, interesting and I get more and more ideas within this approach... I am never bored.

There is nothing wrong with becoming very good doing something rather being mediocre doing many things. I saw a signature line another poster had that was attributed to Bruce Lee "I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times."

This is very wise in my opinion. Trading is not something that can be learned in a few months and you know everything there is to know. The more you practice that one "kick" the better you understand the craft and if you are wise you will expand your knowledge within that kick. To float around like a butterfly touching on many styles of trading does not allow you a chance to develop any expertise in one in particular.

Trading in one area should not be a static thing... becoming good at it requires a lot of work... to split your attention among several trading areas is not the best way to trade IMHO. Yep, Bruce Lee has it right, as I see it....

Reply With Quote
  #4 (permalink)
Trading Apprentice
Novosibirsk + Siberia/Russia
Futures Experience: Advanced
Platform: ThinkorSwim, TWS.
Broker/Data: IB, TOS.
Favorite Futures: ETF, Stocks, Futures, Options
Cornix's Avatar
Posts: 21 since Oct 2012
Thanks: 1 given, 22 received

Imagine the scope of information needed to know just one market really well. That answers the questions itself unless your tactics is analyzing global trends, which are most often represented by correlated moves across different instruments.

Reply With Quote
The following user says Thank You to Cornix for this post:


futures io > > > Expanding the scope of what you are trading

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
Full scope of Europe’s bank stress tests revealed kbit News and Current Events 0 August 20th, 2014 09:33 PM
Expanding intraday instruments using Brook's method hobart Elite Trading Journals 4 June 19th, 2013 10:36 AM
The Scope Of The Alberta Oil Sands..... kbit News and Current Events 12 April 30th, 2012 04:31 AM
Bankers air fears over scope of swaps rules kbit News and Current Events 0 February 8th, 2012 07:26 PM
NinjaTrader is Expanding Again. Looking for a .NET Developer NinjaTrader Traders Hideout 1 April 5th, 2011 02:53 PM

All times are GMT -4. The time now is 07:28 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 0.08 seconds with 19 queries on phoenix via your IP