What are your goals in trading? - Psychology and Money Management | futures io social day trading
futures io futures trading


Notices

What are your goals in trading?
Updated: Views / Replies:3,865 / 41
Created: by Pariah Carey 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 100,000 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
 

What are your goals in trading?

  #41 (permalink)
Trading for Fun
Minnesota
 
Futures Experience: Intermediate
Platform: Sierra chart
Favorite Futures: Orange juice
 
Posts: 89 since Feb 2017
Thanks: 178 given, 38 received


Pariah Carey View Post
I just posted a response in the Time to give up thread and part of the response dealt with my goals in trading. Realizing it didn't quite fit for the topic of the thread, I redacted that part and decided it would be good to start a new thread on this topic. I've found a few threads on specific daily trading goals, but nothing on longer-term trading goals.

The short answer to this question, obviously, is to make money. But how much, and over what period of time? Most of us here work a non-trading job and dream of making trading our sole source of income, and building wealth through it.

But some may be content simply to trade part-time just as a supplement to their income, or maybe to meet a specific financial goal like paying off the house or saving for children's college tuition.

If you want to quit your job, do you want to do that in a year? Five years? Or is your trading more of a retirement plan where you're not in a big hurry to quit?

Do you think your goal is realistic? Have you taken a hard look at your returns, max drawdowns, and ability to replace the income you make now? How much will your standard of living increase in the coming years?

My goal is kind of a mixture of wanting to quit the day job and building a retirement fund. I'm pretty happy with my non-trading job (attorney working for myself) but I do dream of trading for a living. To do that would probably take five years. My trading system is longer-term with big drawdowns, so I think it will take me that long to build my account to where I can replace the money I make now. Although by then I could be making a lot more than I do now, and my standard of living will keep going up, so maybe seven years.

Currently I pay my assistant much more than I make as a trader, and honestly right now I could make more money cutting grass or working fast food than I do trading soybeans or gold. But in the next year or two that should change.

This a very broad topic. We are all in it to make money, just a matter of how much an how fast as you said. I don't trade to supplement my income. Neither do I do it so I can afford to quit my job, I'd get way too bored. I do it for fun. My goals if reached are 4X my account a yr. this yr I got lucky an did it in a month. an the sixth months I work a yr I do not trade or even look at markets. Knowing myself like I do I won't retire til someone piles 6' of dirt on me.

Reply With Quote
 
  #42 (permalink)
Elite Member
singapore
 
Futures Experience: Advanced
Platform: nextview
Favorite Futures: stocks
 
Posts: 11 since Aug 2012
Thanks: 9 given, 4 received

Goals : Supplement my income so that I can afford to buy some luxury items/go for a decent holiday
Process : Been trading for more than 5 hours and I am not sure if I have already attained a good enough trading system but been making decent amount last year. Up over 50% last year. But I will like to share the link below, (Bigmike please remove if it is not approved) on the 5 stages of a trader. For all serious trader, you may have read it but do re-read them again and be honest with yourself on which stage that you are currently in.

Process is definitely more important for me. Made tonnes of losses on a low of small accounts and I cant emphasis much more on having a low VaR and good risk management system/low drawdownfor anyone who are serious about trading..Goals come after if you have a good system and is discipline enough to adhere to it!

Akin soccer in this aspect, champions usually have a good defensive record. It is not about how good your attack (how much profit you made), but how you play your defensive game

https://www.forexfactory.com/showthread.php?t=3156

Reply With Quote

Reply



futures io > > > What are your goals in trading?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Fundraiser: Feeding Families in Need (ends Dec 17)

December
 

How to use the Footprint Tool to Execute Trades w/Brannigan Barrett

Elite only
 

Ask Me Anything (Brokers & Platforms) w/Ilan Levy Mayer @ Cannon Trading

Dec 13
 

Battlestations! Show us your trading desks w/GFF Brokers ($750 in Prizes)

January
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Home Runs or Daily Goals? Dragon Psychology and Money Management 36 November 18th, 2014 11:16 PM
Goal setting and life goals Big Mike Psychology and Money Management 6 February 25th, 2014 07:22 PM
2011 Lessons Learned / 2012 Goals Set GaryD Psychology and Money Management 10 January 11th, 2012 04:43 PM
Daily goals about how you trade browntb Traders Hideout 5 December 3rd, 2011 03:02 PM
yearly life goals razorbuzz The Elite Circle 1 January 9th, 2011 12:40 PM


Tags
delta, dow, drawdown, drawdowns, e-minis, feedback, futures, how to, indicators, information, journal, long term, mathematics, nasdaq, nq, portfolio, position size, profitable, psychology, reward, risk management, search, short term, short-term, strategies, strategy, swing, tapatalk, tor, trading, trading plan, trading system, volatility, white

All times are GMT -4. The time now is 11:48 AM. (this page content is cached, log in for real-time version)

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 2018-12-11 in 0.09 seconds with 15 queries on phoenix