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:116,889 / 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?

  #591 (permalink)
Elite Member
Western Slope+Colorado/USA
 
Futures Experience: None
Platform: ninja
Broker/Data: NinaTrader Brokerage, Interactive Brokers
Favorite Futures: Forex and CL
 
DropD's Avatar
 
Posts: 19 since Aug 2012
Thanks: 33 given, 21 received


Big Mike View Post
I would venture futures.io (formerly BMT)'s crowd does in fact beat the odds (ie: perform better than the 95/5 rule). But, I think could be true of any specialized group within a larger group.

Remember, to fail at trading it could be as simple as starting with a woefully under-capitalized account, trading it for a month, blowing out, and then quitting. You've now failed at trading.

I earn my living from trading and I will never do anything else again. I've worked for myself for a long time before trading, and while its liberating to be your own boss, it is even more liberating to be a successful trader.

Mike

Hey Mike,
How long did it take you before you were earning a living from trading?

-Thanks

Reply With Quote
The following user says Thank You to DropD for this post:
 
  #592 (permalink)
Membership Temporarily Revoked
siam, west coast andaman sea
 
Futures Experience: Master
Platform: ninja
Favorite Futures: gc, cl, tf, 6e
 
nakachalet's Avatar
 
Posts: 512 since Aug 2011
Thanks: 559 given, 200 received

hi cloudy, would this be more acceptable, you think?


Cloudy View Post
re: email 01,02 and pic

There's no execution information, nor even mention of what type of instrument traded. Win ratio is perfect, but # of trades is few compared to the sample time. imo, not quite acceptable for a seasoned trading student nor a good enough statistical sample.

have been busy doing something else than visiting bmt here.

just saw your post, cloudy.

well, would you kinda accept the included attachment more readily than some afterthought afterhour afterdoctored xl spreadsheet?

not to belittle those individuals, nor those trading schools, nor those trading educators, nor those so-called trading gurus, nor their efforts to attract potential customers.... OK?

just thought you might like to see something different than just xl spreadsheet offered by so many trading schools and prop houses....

but if you still do not like the attachment herewith, it is perfectly ok too, alright? L O L it won't hurt my feeling one bit either, K? though your not liking it, might just dent my ego a tiny bit.... L O L

happy and profitable trading, traders.....

<well, well, well.... it could just be a fluke, a kind of one night stand sort of thing....
but i am by no means a better trader than you'al, am more like an opportunistic trader, that's all.... LOL>

cheers everyone

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
 
  #593 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,027 since Jul 2011
Thanks: 2,211 given, 1,551 received


Hi Nakachalet,

Thanks, I made a mistake in the last email. I didn't recognize those topsteptrader pics before. If they could be shown as TST reports from a live funded account then I would accept that proof.
As for your recent .jpg , it's good, and I would also like to see some more, such as MAE, MFE and profit factor etc.

Reply With Quote
 
  #594 (permalink)
Trading Apprentice
San Diego CA/US
 
Futures Experience: Intermediate
Platform: tos
Favorite Futures: Futures
 
Posts: 1 since Aug 2013
Thanks: 0 given, 1 received

Where are some actual stats?

Forgive me as I am new to this forum, but isn't this the first post in the thread?:

" Here we go:

1. Is trading your primary source of income? (Yes or no)
2. Do you make over $100k/year in trading (Over, under, NA)
3. How long did you trade prior to making trading your primary source of income - or if not primary income yet, . number of years trading? (Approx. # hours on screen)"



I have been reading many pages of this thread, but having alot of trouble finding anyone to actually answer the original question or provide some stats.

Did any simple concise answers come from the original question?

Reply With Quote
The following 2 users say Thank You to TryingTo Make It for this post:
 
  #595 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,892 since Apr 2012
Thanks: 1,681 given, 3,621 received


TryingTo Make It View Post
Forgive me as I am new to this forum, but isn't this the first post in the thread?:

" Here we go:

1. Is trading your primary source of income? (Yes or no)
2. Do you make over $100k/year in trading (Over, under, NA)
3. How long did you trade prior to making trading your primary source of income - or if not primary income yet, . number of years trading? (Approx. # hours on screen)"



I have been reading many pages of this thread, but having alot of trouble finding anyone to actually answer the original question or provide some stats.

Did any simple concise answers come from the original question?

Have you read the entire thread? Considering the 5% rule to be true, this seems like a pretty arduous task to find those that answered yes to the first two despite the positive results of this forum. If everyone answered honestly that gives you 1 out of 20 posts that might give you a yes. And even so, Most profitable traders won't give you the answer so easily because they believe the proof is in the pudding. You'll have better luck answering your questions in some of the polls https://futures.io/polls/ and as far as finding solid proof good luck getting that anywhere on the internet

Reply With Quote
The following user says Thank You to Itchymoku for this post:
 
  #596 (permalink)
Membership Temporarily Revoked
siam, west coast andaman sea
 
Futures Experience: Master
Platform: ninja
Favorite Futures: gc, cl, tf, 6e
 
nakachalet's Avatar
 
Posts: 512 since Aug 2011
Thanks: 559 given, 200 received

indeed, any one trading profitably and consistently....?

@trying to make it

there were several others related topics which perhaps you'd missed some how.
there was also another person who also wanted to know if there was really someone who has been trading live and profitable with consistency as well?

as far back as i could recall, those questions have had already been tended to, by at least one bmt member living and trading in siam.
and he also supplied his brokerage statements as well, not a xl spread sheet like most others like to do in this biz.
yes, as recent as some two months ago, he was still kicking and screaming around jubilantly.

cheers
nakachalet@gmail.com

TryingTo Make It View Post
Forgive me as I am new to this forum, but isn't this the first post in the thread?:

" Here we go:

1. Is trading your primary source of income? (Yes or no)
2. Do you make over $100k/year in trading (Over, under, NA)
3. How long did you trade prior to making trading your primary source of income - or if not primary income yet, . number of years trading? (Approx. # hours on screen)"



I have been reading many pages of this thread, but having alot of trouble finding anyone to actually answer the original question or provide some stats.

Did any simple concise answers come from the original question?



Last edited by nakachalet; August 23rd, 2013 at 01:38 PM.
Reply With Quote
 
  #597 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

would i make it?


shodson View Post
As a business owner myself and co-founder of venture-backed start-ups, these points are right on. I don't trade for a living because I'm under capitalized but I keep in the game to keep learning and slowly grow my account so if/when I am able to put together some capital I'll have the skills and tools ready to go to make the switch. In fact, even with a small account, if I can string together a good track record where I am yielding good returns, on a percentage basis, you can use that to raise money to trade other people's money, once you get the proper licenses (CTA, Series 7, Series 3, etc) but now you have a new set of headaches: anxious investors and their lawyers ready to pounce on you if you have a draw-down of negative months more than they can handle.

I know several traders that are former business owners mainly just looking to simplify their life, have lower overhead, and not have to babysit a bunch of employees and customers and they are very happy they made the switch. But the ones that have switched usually have attained a fair amount of wealth from selling their business or long-term savings, or some other capital event, like maybe an inheritance. I don't know anybody that started with $5-10K and worked their way up to enough capital to trade full time.

shodson, i would like your opinion about my scalping system, i need feedback ,specially with the issue gap sim/live
https://futures.io/elite-trading-journals/27399-alejo-s-trading-journal-12.html#post370759
thanks

alejo

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote
 
  #598 (permalink)
 Vendor: www.probabletrades.com 
OC, California, USA
 
Futures Experience: Advanced
Platform: IB/TWS, NinjaTrader, thinkorswim
Favorite Futures: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,859 since Jun 2009
Thanks: 480 given, 3,254 received


alejo View Post
shodson, i would like your opinion about my scalping system, i need feedback ,specially with the issue gap sim/live
https://futures.io/elite-trading-journals/27399-alejo-s-trading-journal-12.html#post370759
thanks

alejo

You lost me at "scalping system". For me, scalping doesn't work. Maybe for other people it does, and maybe for you it will, but it's the most difficult type of trading there is in my opinion.

And if you're doing it on SIM your results probably severely underestimate the effects of slippage and commission. The best way to find out is to do 20 trades following your rules with real money, and see how they match up with your SIM results. Think of it as your own 20-trade combine. If they are at least close then maybe you are onto something. But if not then you should probably reconsider.

The fact is that you will never know for sure until you do it with real money. If you can't afford to take 20 trades then you are severely under capitalized. Most people that are under capitalized are attracted to scalping because they are risking little while also making little, but the headwinds of commissions and slippage are much more damaging on your P&L than if you traded higher time frames or larger moves.

Reply With Quote
The following 4 users say Thank You to shodson for this post:
 
  #599 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

scalping


shodson View Post
You lost me at "scalping system". For me, scalping doesn't work. Maybe for other people it does, and maybe for you it will, but it's the most difficult type of trading there is in my opinion.

And if you're doing it on SIM your results probably severely underestimate the effects of slippage and commission. The best way to find out is to do 20 trades following your rules with real money, and see how they match up with your SIM results. Think of it as your own 20-trade combine. If they are at least close then maybe you are onto something. But if not then you should probably reconsider.

The fact is that you will never know for sure until you do it with real money. If you can't afford to take 20 trades then you are severely under capitalized. Most people that are under capitalized are attracted to scalping because they are risking little while also making little, but the headwinds of commissions and slippage are much more damaging on your P&L than if you traded higher time frames or larger moves.

thanks, shodson

i startt the journey fading the range on zn and go for the other side, and then i realized that a lot of moves only reach to 2 ,3,1 tick, then i was starting with the test to try to cacth up that, that was the start of this, it looks good on sim, but i realized that to fills limit i need 1 tick more, then i will try that

thanks for your time

alejo

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote
 
  #600 (permalink)
Trading Apprentice
Fort Worth, Texas
 
Futures Experience: Advanced
Platform: CTS T4
Broker/Data: Stage5
Favorite Futures: ES
 
Eric B's Avatar
 
Posts: 49 since Jun 2013
Thanks: 2 given, 15 received



shodson View Post
Most people that are under capitalized are attracted to scalping because they are risking little while also making little, but the headwinds of commissions and slippage are much more damaging on your P&L than if you traded higher time frames or larger moves.

Right on. From watching the ES dom on a daily basis, I can tell you that scalping is a crowded method already, too. Why not innovate, such as engaging those larger moves/timeframes mentioned (even intra-day) - and the pay is much better

Reply With Quote
The following 2 users say Thank You to Eric B 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)

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
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 05:54 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 2017-12-12 in 0.17 seconds with 20 queries on phoenix via your IP 54.167.44.32