Going Beyond Psychology to make Winning Trades and Nice Profits - Psychology and Money Management | futures io social day trading
futures io futures trading


Going Beyond Psychology to make Winning Trades and Nice Profits
Updated: Views / Replies:16,031 / 125
Created: by Shivaya Attachments:6

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
 6  
 
Thread Tools Search this Thread
 

Going Beyond Psychology to make Winning Trades and Nice Profits

  #121 (permalink)
Elite Member
Ireland
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB and Kinetick
Favorite Futures: ES
 
Shivaya's Avatar
 
Posts: 116 since Jun 2009
Thanks: 59 given, 466 received

The real reason for our fear

"The sheer vastness of non-being is the reason for fear." Bhagwan...1980

The Universe
Space
Abyss
Galaxy
Eternity
Unconditional Love
Vortex

Then one small being...me or you!

To be Fearless we have to go through fear, and this kind of fear, the vastness of everything and the nothingness of one small being, living in a small body on a moving planet within a vast universe.

Go into it, experience the vastness, space travel alone. Soon you will feel safe, secure in the insecurity that somehow you are a part of all this. Soon you will relax and all fear disappears. Breakthrough.

Deliberate practise and visualizing sweet trades, nice profits in a state of fearlessness. Yes...non-thinking ~ AWARENESS!

Shivaya

Reply With Quote
The following 2 users say Thank You to Shivaya for this post:
 
  #122 (permalink)
Trading for Fun
Los Angeles, CA
 
Futures Experience: Beginner
Platform: ThinkorSwim
Favorite Futures: Softs
 
Posts: 68 since Dec 2011
Thanks: 55 given, 31 received


Shivaya View Post
Many years ago I sat with a room of budding daytraders. They had all advanced enough to trade live real money.

Today was their first day to 'pull the trigger'.

The good part for them was they would be putting trades on my house account. I was taking the financial risk.

BUT...!!!

They were taking the 'FEELING of RISK' Few took a trade. All got out within a nano second!

Losing money is the easy part of trading. The 'feeling of losing' is what has to be dealt with. Once you can accept that losses are just 'costs' progress is rapid.

As soon as you leave your sweet spot the risk of additional losses increases dramatically. So why leave?

I do not care one bit what any trader says or does or writes. GOING BEYOND is THIS... I trade from within, I listen, I appreciate all my analysis skills, I wait and I pounce. Then I manage and scale out and finally let my runners take what is available. Then I analyse my results and update my trading log. All the time I am in a sweet state of 'Thanks Market'. This is Empowered Trading.

Shivaya

I believe that it was Dr. Alexander Elder who referred to this loss as a businessman's loss. Every business owner must accept the fact that he will have losses. There are reasonable and prudent losses one must be willing to endure to make a profit. We cannot eliminate the prospect of suffering a loss. We can eliminate the prospect of suffering excessive losses.

Reply With Quote
 
  #123 (permalink)
Trading for Fun
Los Angeles, CA
 
Futures Experience: Beginner
Platform: ThinkorSwim
Favorite Futures: Softs
 
Posts: 68 since Dec 2011
Thanks: 55 given, 31 received



Shivaya View Post
When I was working my way through this exact question in my own trading through trial and error I saw that I had to work on letting more trades run. Catching some really big winners does wonders for the E-Ratio.

To achieve this I use simple swing stops that give the market room to wiggle. In addition I developed the skill of 'adding to a winner'.

I could see I was able to find the trade but needed to stay with the move. I worked on stop management to achieve this.

By actually focusing and constantly calculating my e-ratio every day I began to notice the trades that 'killed' it and the trades that 'enhanced' it.

I also noticed some pro traders from Chicago used the terms on twitter MAE 2 ticks for gain of +3 points. In other words he was able to get in with only 2 ticks of heat. I'm unable to do that but it built a powerful message of how important it is.

Shivaya

If you are adding to your position as the market moves your direction, how do you calculate your edge ratio properly? For example:

Buy 1 lot of the ES at 2000.00 and the market moves against you 4 ticks to 1999.00 and then moves in your favor 12 ticks to 2003.00.

Then you buy another 1 lot at 2003.00. After adding to your position, the market pulls back 8 ticks to 2001.00 before reversing and continuing in your direction another 20 ticks to 2006.00.

Do you calculate each entry as a separate trade? For example, the edge ratio of the first lot would be 6 and the edge ratio of the second entry would be 1.5.

Reply With Quote
 
  #124 (permalink)
Elite Member
Erie,Pa
 
Futures Experience: Beginner
Platform: Ninja, Oanda
Broker/Data: Oanda-practice demo
Favorite Futures: GBP/AUD...wild ride
 
missionatsea's Avatar
 
Posts: 45 since Apr 2014
Thanks: 95 given, 34 received

Sweet Spot

I am amazed at the number of posters who quit posting, but are still poking around. And those who just up and vanish...I do not want to go down that highway.

Bear in mind I am practice trading on Oanda for 15 days now. My entries need a lot of foundational construction. The one sweet spot I have discovered is to cuss at the screen when a trade isn't working and close it out. Of 26 trades for 3 weeks, I have 11 wins and 15 losses for a 42% win rate. In the mix of losses, I have -$34 for 6 of those trades...I am not afraid to bellow f you beech and hit the X when a position fumbles and bumbles. And for that reason I am showing a +$752 profit. Never understood when it was said a successful trader can be had under 50%...I do now. Again, I am only practicing.

In the future, knowing I have the courage to close out trades and donate a few bucks to the broker, makes this venture a lot less stressful. Heck, there is always another trade just around the corner.

Tim

Reply With Quote
 
  #125 (permalink)
Trading for Fun
Bodoe , Norway
 
Futures Experience: Intermediate
Platform: Fxcm tradestation II
Favorite Futures: Forex
 
sharpshoota's Avatar
 
Posts: 142 since Jun 2014
Thanks: 843 given, 117 received

The really though part is to keep my "monkey" in it's place when the losing streeks show up.....10 - 20 losers in a row takes a lot of emotional capital away. confidence in your strategy plays a large part in this game.
taking a day or two away from the screen at that point can be a very good idea.

Reply With Quote
 
  #126 (permalink)
Elite Member
London/UK
 
Futures Experience: Intermediate
Platform: IBs ladder / Market Delta charts
Broker/Data: IB / IQfeed
Favorite Futures: Bund
 
Posts: 438 since Sep 2012
Thanks: 260 given, 96 received

Great alternative thread Shivaya, thanks.

Reply With Quote

Reply



futures io > > > Going Beyond Psychology to make Winning Trades and Nice Profits

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
Strategy creating 95%-100% winning trades shodson NinjaTrader 85 February 1st, 2015 08:06 PM
Nice balloon kbit Off-Topic 1 July 21st, 2011 04:06 PM
Winning Big Mike Jokes 2 March 10th, 2011 06:02 PM
Your first trade is a nice winner. Do you keep on trading? itrade2win Psychology and Money Management 25 November 11th, 2010 02:08 AM
How would I set up my ATM for this... nice Example Jugador Traders Hideout 4 February 8th, 2010 10:20 AM


All times are GMT -4. The time now is 03:01 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 2017-12-16 in 0.16 seconds with 20 queries on phoenix via your IP 54.163.209.109