Primary source of income: how many have made it? - Psychology and Money Management | futures io social day trading
futures io futures trading


Primary source of income: how many have made it?
Updated: Views / Replies:116,981 / 625
Created: by Day Trading Fool Attachments:37

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
 37  
 
Thread Tools Search this Thread
 

Primary source of income: how many have made it?

  #11 (permalink)
Elite Member
MIAMI,FL
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Private
Favorite Futures: Zn,6E,6J
 
sharky's Avatar
 
Posts: 1,060 since Jun 2009
Thanks: 624 given, 3,875 received

i make about 30-50 k a month i would agree that the stats are about right been trading 7 years but i went to school to learn this stuff and was mentored by one of americas best traders...sharky

KILLING THE MARKETS DAILY
Reply With Quote
 
  #12 (permalink)
Sharpening mental edge
the congo
 
Futures Experience: Advanced
Platform: North sea oil rig
Favorite Futures: Cl
 
rassi's Avatar
 
Posts: 834 since Jun 2009
Thanks: 1,166 given, 938 received
Forum Reputation: Legendary


sharky View Post
i make about 30-50 k a month i would agree that the stats are about right been trading 7 years but i went to school to learn this stuff and was mentored by one of americas best traders...sharky

So you don't trade your indicators or systems then?

Reply With Quote
The following 2 users say Thank You to rassi for this post:
 
  #13 (permalink)
Member
Southwest US
 
Futures Experience: Intermediate
Platform: NinjaTrader, Trade Ideas
Broker/Data: IB, DTN IQ
 
Day Trading Fool's Avatar
 
Posts: 57 since Apr 2010
Thanks: 23 given, 92 received



AR01 View Post
1) No
2) Simulation
3) 1 year but only 1 hour of screen time a day so for me about 200 days * 1 hour = 200 hours. I believe screen time is more important than duration and should be considered in the measure.

Andrew

Well put and changed.

Reply With Quote
The following user says Thank You to Day Trading Fool for this post:
 
  #14 (permalink)
Member
Southwest US
 
Futures Experience: Intermediate
Platform: NinjaTrader, Trade Ideas
Broker/Data: IB, DTN IQ
 
Day Trading Fool's Avatar
 
Posts: 57 since Apr 2010
Thanks: 23 given, 92 received


sharky View Post
i make about 30-50 k a month i would agree that the stats are about right been trading 7 years but i went to school to learn this stuff and was mentored by one of americas best traders...sharky

That is the kind of success I like to hear about - freakin awesome!

Reply With Quote
The following user says Thank You to Day Trading Fool for this post:
 
  #15 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received


Eric j View Post
From trading ? not me . I always get a little disturbed by that 95 / 5 thingy . First how do we know that ? Second , is that those that make a living at it versus those that wash out completely ? . Personally I think its perpetuated by those that are in line to sell advice or access to the holy grail .

If its true then why are there so many brokers , dealers , platforms , software , vendors , coaches , mentors , books , indicators etc. ? Who feeds them ? Do so many people wash out then get replaced by more rubes ? Like I said , it just gets my feathers ruffled lol .

If a trader was winning... would he need to buy books, hire coaches and keep jumping from one broker/data feed to another?


webart View Post
The figures come from brokers, actually the figures for those that make money for more than a year are 98%/2% according to a CBOT lecture I was listening too ... and they should know....


You also have to factor in the traders who blow up an account... get a new grub stake and open another account.

I personally think "I Dreamed a Dream" was inspired from a former trader... I'm just sayin'....

I dreamed a dream in time gone by
When hope was high
And life worth living.....

Now life has killed the dream I dreamed.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
The following user says Thank You to ThatManFromTexas for this post:
 
  #16 (permalink)
Elite Member
Bellingham, WA
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Zen-Fire
Favorite Futures: 6E, CL
 
Dragon's Avatar
 
Posts: 494 since Aug 2009
Thanks: 747 given, 253 received


sharky View Post
i make about 30-50 k a month i would agree that the stats are about right been trading 7 years but i went to school to learn this stuff and was mentored by one of americas best traders...sharky

you lurker...

Reply With Quote
The following 3 users say Thank You to Dragon for this post:
 
  #17 (permalink)
Elite Member
MIAMI,FL
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Private
Favorite Futures: Zn,6E,6J
 
sharky's Avatar
 
Posts: 1,060 since Jun 2009
Thanks: 624 given, 3,875 received

rassi i dont have any systems everything i post is to teach people what to look at and to train their minds on how to see price action easier,to let them pratice stuff on sim over and over again until a light goes off and they say oh thats what he means,i look at charts 15-20 hrs per day for about 5 years and paid thousands and thousands for my school and mentored under real traders its not easy or cheap to trade i sacerficed relationships and lost friends,its a long hard lonley road and you have to decide how bad do i really want this and is there a eaiser way to make a buck...sharky

KILLING THE MARKETS DAILY
Reply With Quote
 
  #18 (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

I find this thread very depressing because it almost feels like a reality check in some ways. In other words, what the heck am I thinking that I can beat the percentages?

1. not my primary income. Have never made anything that I kept.
2. Have never made $100K or even $100 at the end of a years time.
3. 6 years time, some of it part time and some full time. I can't say I've looked at charts for 15-20 hrs a day like Sharky, but I know I've spent many more hours doing so than I though I ever would.

Question: I've read the phrase "under capitalized" many times and have heard the term many times. What account size is considered to not be under capitalized?

D

Reply With Quote
The following 2 users say Thank You to David_R for this post:
 
  #19 (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: 29,353 given, 83,234 received


David_R View Post
Question: I've read the phrase "under capitalized" many times and have heard the term many times. What account size is considered to not be under capitalized?

D

It will depend on your trading style (scalper/intraday/swing). I'm actually briefly going over that in tomorrows webinar about trading MTF's w/trend.

But the general rule of thumb is you cannot risk more than 2% per trade. On CL, 20 ticks is $200 stop. If your trading style allows you to risk less than 20 ticks and be profitable, then your minimum account size would need to be $20,000 to trade 2 contracts on CL. And this is really an amount that is needed once you are well educated, it is not a "tuition" amount which is likely substantially higher.

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)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 7 users say Thank You to Big Mike for this post:
 
  #20 (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: 29,353 given, 83,234 received



David_R View Post
I find this thread very depressing because it almost feels like a reality check in some ways. In other words, what the heck am I thinking that I can beat the percentages?

D

David,

I have to say that I've always thought your posts and style were pretty sound. Your method is complex for my personal tastes, but when compared with the majority of others, I would say your method makes more sense to me than most.

I know you've had a very hard time. I don't think it is due to your understanding of the market or your method. I think it is all psychological, and because of the position you are in and your environment and surroundings in life, it is very difficult to break through and overcome this challenges. Trading is hard enough without all the added complications that can make it even harder.

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)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 15 users say Thank You to Big Mike for this post:

Reply



futures io > > > Primary source of income: how many have made it?

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
A new (open source?) trading platform Big Mike Platforms and Indicators 140 January 6th, 2017 03:15 PM
Income while learning to trade MWinfrey Traders Hideout 25 December 12th, 2011 08:11 AM
Zenfire C# API with source code tinkerz Reviews of Brokers and Data Feeds 3 July 24th, 2011 02:35 AM
tick data source kittyan Traders Hideout 5 July 25th, 2010 03:43 AM
Primary URL change, from forum to www Big Mike Feedback and Announcements 1 January 15th, 2010 05:24 PM


All times are GMT -4. The time now is 03:38 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 2017-12-15 in 0.13 seconds with 20 queries on phoenix via your IP 54.90.92.204