Introduce yourself here! - futures io
futures io



Introduce yourself here!


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one Big Mike with 147 posts (3,551 thanks)
    2. looks_two nakachalet with 57 posts (17 thanks)
    3. looks_3 mfbreakout with 35 posts (24 thanks)
    4. looks_4 vmodus with 34 posts (47 thanks)
      Best Posters
    1. looks_one roonius with 73 thanks per post
    2. looks_two George with 45 thanks per post
    3. looks_3 Big Mike with 24.2 thanks per post
    4. looks_4 redneck4Christ with 1.6 thanks per post
    1. trending_up 1,679,147 views
    2. thumb_up 10,014 thanks given
    3. group 5,649 followers
    1. forum 9,921 posts
    2. attach_file 83 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Introduce yourself here!

(login for full post details)
  #5101 (permalink)
 cory 
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
cory's Avatar
 
Posts: 6,046 since Jun 2009
Thanks: 857 given, 7,918 received


bajabaja View Post
... I have good knowledge in excel/VBA and object-oriented programming in general level. ...

BR Baja

if you are good with excel check out SierraChart.

Reply With Quote
The following user says Thank You to cory for this post:
 
(login for full post details)
  #5102 (permalink)
adhirajkarande
Singapore
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

Glad that you have created this forum, hope to have adventourous sailing in the turbulent market.




]

Reply With Quote
 
(login for full post details)
  #5103 (permalink)
 Broman 
San Francisco, CA, USA
 
Experience: Intermediate
Platform: TD Ameritrade, NinjaTrader, TradeStation
Broker: NinjaTrader Brokerage
Trading: ES, CL, 6E
 
Broman's Avatar
 
Posts: 9 since Aug 2014
Thanks: 6 given, 5 received

Hi All,

I'm recently new to trading. Not sure why it took me so long to jump in, but really glad I'm doing it. Enjoying the research, advice and learning. Spending a lot of time papertrading and that's been really fun and educational.

I'm 45, my dad was a stockbroker for a while and a good one at the time. He ended up going into another good business and never had the chance to watch him as I was too young. It's regretful that he never taught me any of the strong fundamentals, but I'm definitely going to change that and teach my kids, if I can get my arms around it and profitable. They are the reason I'm really doing this. Love to teach them a life skill and have some extra pocket money... Disneyland's getting expensive!

Kind of confused on what market(s) to focus on. I have a friend who's focusing on options, so I've dabbled in that. I also have been going through Top Dog's beginner's course 1&2. So far I like what i'm learning. The idea of day trading (for a few hours in the AM) on the ES e-mini seems interesting. Looks like I can get my ass handed to me pretty quickly though.

Sorry for the rambling guys, just kind of cool to join a stock forum and chat. It's like having a financial therapist!

Cheers,
- John

Reply With Quote
 
(login for full post details)
  #5104 (permalink)
bratmos
2/4, Toreza str., Gorlovka, Ukraina
 
 
Posts: 1 since Aug 2014
Thanks: 6 given, 0 received

Hello, Mike!
Forum is very interesting and helps to understand the process of working on the Forex market.
Regards, Vadim.

Reply With Quote
 
(login for full post details)
  #5105 (permalink)
 fishfry 
columbia south carolina/USA
 
Experience: Advanced
Platform: NinjaTrader
Trading: Forex
 
Posts: 31 since May 2012
Thanks: 8 given, 46 received

Hi,

I've been a full-time trader for six years now. My two trading partners and I have a goodly amount of custom programming done (We're lazy and try to have the computer do as much work as possible). Believe it or not, after I signed up for Elite I went to the Indicator download section and found two indicators that almost exactly match a specification document we were planning to send to our freelance programmer that day. So, in appreciation, I thought I'd upload one of our custom indicators that has saved my butt more times than I can count.

I'll start a thread to explain how we use it, and I'll also present a simple setup with it that's one of the ones that's helped me avoid having to earn an honest living. All of the other required indicators for the setup are either free NT ones or ones in the Big Mike download library.

So, I've found the upload instructions and as soon as I read them and figure out how to link the indicator thread to an instruction thread, I'll post it. If you're interested in finding it, I think I'll call the new thread, "Newcomer bearing gifts"

Reply With Quote
The following 2 users say Thank You to fishfry for this post:
 
(login for full post details)
  #5106 (permalink)
sky2020
Malaysia
 
 
Posts: 1 since Mar 2014
Thanks: 0 given, 0 received

Hi everyone,

I just started trading live in March. Nice to meet everyone here.

Cheers,
Sky2020

Reply With Quote
 
(login for full post details)
  #5107 (permalink)
 vlad56 
Munich, Germany
 
Experience: Advanced
Platform: Ninjatrader
Trading: Futures
 
Posts: 1 since Jul 2014
Thanks: 0 given, 0 received

I'm Ninja platform trader for ca. 1 year. My trading experience is ca. 10 years.

I've developed a good trading concept that requires Multiple MA for higher time frames
as well as lower time frames. Tested it using Ninja Forum indicator "xcMovAVG".
I can not write in C# and on the other hand the "xcMovAVG" is not programmed quite well.
I'd gladly share this trading concept and would appreciate if some of the members contact me.
Sincerely
Vlad

Reply With Quote
 
(login for full post details)
  #5108 (permalink)
kahili
Moscow
 
 
Posts: 1 since Mar 2014
Thanks: 1 given, 0 received

Mike,

Glad to join this fourm, hopefully this forum will be successful like BLOG!!!!!!

Reply With Quote
 
(login for full post details)
  #5109 (permalink)
RichardSobe
Colorado Springs, CO United States
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

Hi,
My name is Richard Sobe. I am very new to day trading. I was recommended to this site by a friend of mine whom I asked for advice on how to get started in day trading. I am basically at the kindergarten to first grade level of learning this type of money making. My friend loaned me a book called "One Shot One Kill Trading" by John Netto, which I've read almost to chapter 3 so far. I've purchased "Trading Beyond the Matrix : The Red Pill for Traders and Investors" by Van Tharp which I have not yet had the chance to start on. I've also been reading "Think and Grow Rich" by Napoleon Hill which has been helping me get into gear to start making the money I want to make to become successful at all of this. I have ThinkorSwim downloaded but have not had a chance to work with it. I understand the thing about eliminating emotion to make this work with respect to trades. I also understand the part emotion plays in being used to set oneself up for success. So I'm glad to have been informed of this forum and expect to learn alot from the discussions here. My day job is computer repair, mostly residential, and some businesses, mostly onsite work, but some in shop too. I'm wanting to learn the day trading to where I can get away from the computer repair business. It just seems like a better way to make money. Thank you for allowing me to participate here.

Reply With Quote
 
(login for full post details)
  #5110 (permalink)
 landau 
Austin+Texas/US
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Ninja Trader
Trading: ES
 
Posts: 4 since Aug 2014
Thanks: 0 given, 0 received


vlad56 View Post
I'm Ninja platform trader for ca. 1 year. My trading experience is ca. 10 years.

I've developed a good trading concept that requires Multiple MA for higher time frames
as well as lower time frames. Tested it using Ninja Forum indicator "xcMovAVG".
I can not write in C# and on the other hand the "xcMovAVG" is not programmed quite well.
I'd gladly share this trading concept and would appreciate if some of the members contact me.
Sincerely
Vlad

I tried xcMovAVG and found it not visible to the Bloodhound logic module. I don't use it because I'm trying to set up Automated strategies. An alternative is the Dorshden Swing Trend which uses Lower Lows or Higher Highs to determine trend.
Carl TX

Reply With Quote
 
(login for full post details)
  #5111 (permalink)
 swschultz 
Raleigh/NC
 
Experience: Intermediate
Platform: TOS/Sierra Charts
Broker: TDA/Infinity Futures
Trading: /ES
 
Posts: 5 since Jul 2013
Thanks: 17 given, 1 received

This is Scott in Raleigh NC. I've been trading for a few years now and I'm still working on solidifying a good trading strategy. I work from home so that I can take care of my disabled wife. This is what brought me to trading in the first place - the need to work from home. If anyone has any trading revelations that they're willing to share please pass them along.

Best Regards,

Scott

Reply With Quote
 
(login for full post details)
  #5112 (permalink)
FatBoySlim
Sycamore, IL/USA
 
 
Posts: 2 since Jul 2014
Thanks: 0 given, 0 received

Nice to see a forum with a lot of great info. I am a fairly new trader and in the past couple weeks that I have been a member I have been learning some good things here.

Thanks everyone!

Reply With Quote
 
(login for full post details)
  #5113 (permalink)
sm2352
Kolkata+WB/India
 
 
Posts: 2 since Aug 2014
Thanks: 0 given, 0 received

I am Santanu . I am form India basically trading on Stocks basis of TA

Reply With Quote
 
(login for full post details)
  #5114 (permalink)
Gotland
Gotland Sweden
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

Hi everyone!

Im a trader wannabe.
I trade stocks and forex.
I use technical system trading, trying to get rid of any discretionary trading.
Sometimes it is tuff to wait for the entry signal when i want to enter NOW.
Hehe, ya well, its getting slowly better.
The trading plan helps i only have to remember not to forget to read it now and then...


Reply With Quote
 
(login for full post details)
  #5115 (permalink)
 Johng87502 
Colorado Springs + Colorado/United States
 
Experience: Advanced
Platform: Ninja Trader, CQG
Broker: Kinetick / Ninja Trader Continum
Trading: Emini ES, Crude CL, Gold GC, NQ
 
Posts: 8 since Aug 2014
Thanks: 3 given, 3 received

Forum looks as if it has very valuable info. Glad to be a member.

Question: If I have developed a formula in CQG and want to get it into the proper language for Ninja 7.....what do I do ?, where do I go?

Any help would be appreciated......... Johng87502

Reply With Quote
 
(login for full post details)
  #5116 (permalink)
 zachary1g 
toronto
 
Experience: Advanced
Platform: Esignal / MarketDelta
Trading: ES
 
Posts: 2 since Apr 2014
Thanks: 1 given, 0 received

I am zach . I am form Canada here to check out the forums, heard a lot about Big mikes.

Reply With Quote
 
(login for full post details)
  #5117 (permalink)
TimingZones
Walla Walla, Washington USA
 
 
Posts: 7 since May 2014
Thanks: 13 given, 2 received

I have been trading off and on for thirteen years with emini futures without consistent results. Spent plenty of money on courses. Need to simplify my setups so thought I would see what I can find here to be supportive to my journey. Thank you. I find this forum a little overwhelming so it has delayed my posting here.

Reply With Quote
 
(login for full post details)
  #5118 (permalink)
Brigand
Bournemouth
 
 
Posts: 1 since Jul 2013
Thanks: 0 given, 0 received

Hi to all on 'BMF'.

I'm new to trading in a winning way! So looking for some help.

I started trading FTSE 100 EOD stuff in 1975, using a ZX80, or 90 I cannot remember which, & taking my data from the financial close of the day issued by the BBC. Paper trading at first, then through a local broker. I lost.
Next I moved on to connecting the ZX to my television, and using EOD data from teletex. I lost.
I got fed up with that, & moved on to options. I lost....heavily.

I'm retired now, & still have the trading bug. I currently, & very recently, started trading Index Futures, paper only, (not so easy to replace a loss when you are retired!) I use a UK online broker, and paper trade using Metatrader. I'm not by nature a scalper, nor do I sleep well if I hold a trade over night.

All & any pointers will be appreciated....if I do not reply too quickly, I'm probably sleeping, or watching one of the many videos available on this site.

Many thanks for taking the time to read the above.

Reply With Quote
 
(login for full post details)
  #5119 (permalink)
GlobalTrader
Long Beach , LA
 
 
Posts: 138 since Apr 2012
Thanks: 24 given, 77 received

Hi All,

This is my first post. I am a wannabe trader from New Zealand. Presently I am doing the Open Trader course which brings me to Big Mikes. So far the course has been enjoyable and has presented a few light-bulb moments for me. I began trading ASX stocks and did very well prior 2007 , then it all went to double crap as I tried to become a profitable FX trader. Did not loose too much in 6 yrs of trying about 10k i think. So now i am moving back to exchange based trading. Feels good once again to be looking at volumes etc.

Reply With Quote
 
(login for full post details)
  #5120 (permalink)
brunoneveslt
Portugal
 
 
Posts: 1 since Oct 2013
Thanks: 0 given, 0 received

He Mike and All,

thanks for the wonderful forum


Best regards and good forum feeling
Bruno

Reply With Quote
 
(login for full post details)
  #5121 (permalink)
 TraderEnlight 
Los Angeles, CA/USA
 
Experience: Beginner
Platform: thinkorswim
Trading: Futures
 
TraderEnlight's Avatar
 
Posts: 12 since Aug 2014
Thanks: 3 given, 1 received

Hi All,

I'm very new to trading with only 1 year of experience and after many suggestions from around the web suggesting Traders (especially new ones) need to get involved with a trading community, I quickly joined Big Mike's Trading Forum.

I read a lot about people who have that natural ability as a Trader but I don't think I'm one of them but I love games and I love the game of trading and want to succeed very badly.

I enjoy looking at charts and studying Market Structure. I really enjoy reading about new and different systems like the Ichimoku and Turtle Trend Trading System. I watch a verisimilitude of Trading webinars (how i found futures.io (formerly BMT)F), and push myself to read about Trader Psychology mostly from Brett Steinberger via his books and his blog.

I read Zerohedge and Abnormal Returns because I think that will help me learn about Macro Economic fundamentals but I'm still not sure how to combine the ideas of Fundamental Analysis and Technical Analysis.

I keep a Trading Journal using One-Note and have a Trading worksheet made with Excel that captures my metrics such as Accuracy Rate %, Avg Time in Trade, and Profit/Loss Ratio. Entering stats from a big, losing day feels awful but I do it in belief that I will succeed and I can learn something.

I use a screen video capture tool to capture all the trades I make everyday so I can use it for homework and review every night. Watching a bad trade over and over again is painful and watching a series of bad trades over and over again is hell but I'm hoping doing this has benefits.

I know I have a long way to go as I am bold when I should be cautious and hesitate when I should be bold. I have a deep desire to figure out trading and commit myself day-in and day-out to discovering how to be successful at this.


I hope with more years I'm also able to teach what I've discovered and give back to the community all the lessons of trading so we can continue to grow and prosper.

Thank you!

Reply With Quote
The following user says Thank You to TraderEnlight for this post:
 
(login for full post details)
  #5122 (permalink)
 slowsie 
winston salem nc/ usa
 
Experience: Intermediate
Platform: MT4&5, NT7&8,Sierra Chart
Trading: Forex, Futures
 
Posts: 5 since Sep 2012
Thanks: 5 given, 4 received

I'm happy to have such a wealth of knowledge at my disposal. Very happy you have created such a place

Reply With Quote
 
(login for full post details)
  #5123 (permalink)
sccanissan
tampa fl
 
 
Posts: 3 since Aug 2014
Thanks: 0 given, 0 received

Hey Guys how is it going,

Well like most I had a strong interest in the market early on around high school. I have had a few virtual accounts but I never did amazing.

This time I am taking a different approach and looking at it more like a business then just something personal/fun.

Maybe one day turn into a daytrader but that's a big maybe......I understand the difficulty's of trading and for now I just want to learn as much as possible.

I hope to be able to contribute to the fourm as much as possible.....

Reply With Quote
 
(login for full post details)
  #5124 (permalink)
 tecfranco 
Taboão da Serra, SP, Brazil
 
Experience: Intermediate
Platform: Ninjatrader
Trading: futores
 
Posts: 3 since Aug 2014
Thanks: 1 given, 0 received

Hello, Hello, I'm new to the forum and have some questions, among them:
How do I know which strategies other users of NinjaTrader are you using?
How can knowing which strategies are on the market, take care of this for more gains?
How do I know which are the most winning strategies for example, the futures market winq14?
There are ready-made algorithms with proven winning strategies?
how can I trust an algorithm if it is done by others?
The lag that usually has the brokerage, even slightly, will not hinder me too?
I can use the NinjaTrader to make a program market makers? Thank you in advance,

Luiz Henrique Franco, Brazil.

Reply With Quote
 
(login for full post details)
  #5125 (permalink)
 Wanita 
Perth - Western Australia
 
Experience: Intermediate
Platform: FXCM, Meta Trader4, GFT
Trading: Forex
 
Posts: 4 since Jun 2014
Thanks: 1 given, 1 received


bobontheweb View Post
Hullo everybody,

I am new to this site and I thank Bike Mike for the forum. I have been dabbling with trading futures for about 10 years now, and at first I had a little success and then blew the account. I am using Ninja Trader which has now joined with my broker (Mirus) and I hope this will work well for the little users like me.

I have been looking for good indicators and have found 2, but these are only medium in success. I have found 60.8% success. Obviously like everybody I am looking for the Holy Grail of trading but as we are all told it does not exist. The 2 inidcators I am using so far are a simply SMA cross and then also an Ichimoku chart which is free on the web. I am looking for a third inidcator to confirm these and will go through some of these on this site.

best whishes to all on the forum and I hope we can share our successes.

Bob

Hi Bob
I used Ichimoku system , for indicator use William Ultimate Oscilator.

Reply With Quote
The following user says Thank You to Wanita for this post:
 
(login for full post details)
  #5126 (permalink)
bdmuk
Dhaka, Bangladesh
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

Hello All,

This is Mukaddim. I've just signed up with futures.io (formerly BMT) and feel really great in doing so. It's good to have been connected with people staying far apart, always an exciting experience. Looking forward to a memorable journey.

Mukaddim

Reply With Quote
 
(login for full post details)
  #5127 (permalink)
 IlyaKipnis 
Philadelphia + NJ/US
 
Experience: Beginner
Platform: quantstrat
Trading: ETFs
 
Posts: 52 since Aug 2014
Thanks: 4 given, 39 received

Hi guys. I'm new to the forum as well. I'm a young professional looking for my next trading opportunity. I run a blog about creating systematic trading strategies in R.

Nice to meet you.

Reply With Quote
The following 2 users say Thank You to IlyaKipnis for this post:
 
(login for full post details)
  #5128 (permalink)
 trendandfade 
Hasselt Belgium
 
Experience: Intermediate
Platform: Tws / Custom
Broker: IB
Trading: Unknown
 
Posts: 13 since Jul 2014
Thanks: 229 given, 17 received

Hi all,

Started in 2000 with 'investing' because a friend was telling about his large profits on the nasdaq. It was only luck that I was completely flat before the crash. This opened my eyes and I started to learn trading. I tested lots of stuff I found on the internet......... Afterwards I discovered I was looking for the perfect system....which does not exists. So now I finally accepted that losses are part of the business.

Thanks mike for the help with my account.

Reply With Quote
The following user says Thank You to trendandfade for this post:
 
(login for full post details)
  #5129 (permalink)
 stargazer55 
chicago
 
Experience: Intermediate
Platform: ninjatrader
Trading: My Future
 
Posts: 15 since Aug 2014
Thanks: 25 given, 2 received

I been trading equities for about a year now. I hope Big Mikes trading can provide me with more insight into being a profitable trader. I'm looking forward to educating myself further and gaining new knowledge.

Reply With Quote
 
(login for full post details)
  #5130 (permalink)
 Trader604 
Virginia Beach/USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Ninja Trader Brokerage
Trading: Russell
 
Posts: 6 since Aug 2014
Thanks: 29 given, 1 received

Hello Everyone,
I first started day trading almost ten years ago with no success. I had to call in my orders at that time. I have picked it back up a couple of times over the years. I have blown up several accounts. About a year ago I began my latest attempt, definitely older but not much wiser yet!! I find trading to be extremely interesting and challenging. I joined the CFRN group in late 2013, but did not have much success. I like the owners at CFRN but their trading style did not suit me real well. I learned a lot from them and do not think I wasted my money. I like to trade the Russell, S&P, and Dow minis. Recently switched over to NinjaTrader and using Bloodhound software to develop a suitable trading plan. I look forward to sharing what I have learned and learning from actual traders.

Thanks

Reply With Quote
 
(login for full post details)
  #5131 (permalink)
TemporarySanity
Philadelphia, PA
 
 
Posts: 7 since Aug 2014
Thanks: 2 given, 0 received

Hey now, i'm about as green as it gets when it comes to HFT. Been in the market since the late 90s but never in anything more than a very long term buy-and-hold manner.

Unlike many, I'm not looking to get rich. I just want to earn some extra pocket scratch, learn something new, and maybe someday make it more of a full time gig.

I've got an engineering degree, own and operate a small-medium size biz, and am analytical and conservative by nature.

Hoping that this forum can be a good sounding board and place for discussion of my (newbie) questions

TS

Reply With Quote
 
(login for full post details)
  #5132 (permalink)
 NitroJim 
St. Louis Mo. United States
 
Experience: Intermediate
Platform: Ninja, Tradestation
Trading: Oil
 
Posts: 1 since Jul 2014
Thanks: 0 given, 0 received

First of all thanks for the forum and warm welcome. Secondly I would like to tell about my adventure with trading so far. Well I spent a lot of time (7+ Years) and lot$ of money in training rooms, indicator purchases and found that most of it is bunch of BS that never produced as designed. So now I trade mostly just price action, volume and pivots.

I would like to ask a question to the members here is at what point did you go forward and trade live - after backtesting and forward testing for how long? Weeks/Months and how much draw down did you anticipate before cutting the cord?
Thanks Jim

Reply With Quote
 
(login for full post details)
  #5133 (permalink)
 supergordon 
Los Angeles, CA
 
Experience: Beginner
Platform: Multicharts
Broker: Optimus Futures
Trading: CL
 
Posts: 7 since Mar 2014
Thanks: 31 given, 7 received

Just looking to make an introduction. I've been in the markets in some way or another for the past 10 years or so, mainly in a buy-hold strategy. I've blown three accounts trading currencies and walked away after the last one for about 5 years. At the time, my only strategy was buy low, sell high. I love that one...LOL.

Over the past six months or so, I've discovered this forum and want to put a big thanks out there to BigMike and this entire community for their insight and dedication to making this truly a unique place. I've begun what I hope to be a long-term journey in commodities trading. My focus now is price action trading with a bare-minimum of indicators if any at all.

Thanks again to the community and I hope one day to be able to contribute some of the insights I will no doubt have over the course of this journey.

Good trading.

Reply With Quote
 
(login for full post details)
  #5134 (permalink)
 TumsTrader 
Chesterfield, MO
 
Experience: Advanced
Platform: NinjaTrader, TWS
Broker: InteractiveBrokers/TWS
Trading: ES
 
Posts: 3 since Oct 2009
Thanks: 8 given, 0 received

Hi Mike,

I've been here a while, but never really joined in the conversation. Sorry about that; guess I'm more of an introvert than I thought.

I believe we can learn a lot from each other when we open up our ears and listen. I'm always amazed by what I learn from other market participants, especially on forums like this one.

After graduating from the NYIF, I started in the stock market at the NYSE back in 1975. I moved over to the ASE as they started reintroducing options. Man I loved those options, and still do to some extent. For that reason I'm hoping Sosnoff does well in his attempt to bring Millennials into the market.

The only regret I have from my early Wall St. years is that I turned down a job I was offered at Lazard Freres. Stupid, stupid, stupid.

So, I started with stocks, went over to options, and eventually made my way to S&P contracts, and now it's DOM trading the ES on a screen. It's been an amazing progression, and I can hardly believe what's happened in/to the pits since I first set foot on Wall Street.

I've seen a lot of edges come and go over the years, and hope to see a few more uncovered right here. If we're honest with each other I think we can say that's why we're all here. Thanks Big Mike for providing this opportunity to listen in on your excellent forum.

Reply With Quote
 
(login for full post details)
  #5135 (permalink)
Saltz
Paris France
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

Hello everybody !

To do my introduction , I can say that I am on the markets since 3 years .Most of the time , I Follow someone who is a professional .When I want to take positions by myself ,I am on this tickers BX4.PA and LVC.PA only few days ;all or nothing of my capital , only a online portefolio ... Otherwise ,I find lon-term trading boring .

See you soon !

Reply With Quote
 
(login for full post details)
  #5136 (permalink)
SSergei
Kemerovo, Russian Federation
 
 
Posts: 2 since Aug 2014
Thanks: 0 given, 0 received

Hi everybody.

I'm Sergei - a beginner trader from Russia.
Starting from Russian futures. And at the same time looking for an American futures broker to start trading American futures from Russia.

Not sure what else to say here. Just a simple greeting. Anyway, I'm happy to be here. Kinda "treasure island" to me.

Thanks.

Reply With Quote
 
(login for full post details)
  #5137 (permalink)
lukasxkral
Prague Czech Republic
 
 
Posts: 1 since Apr 2014
Thanks: 0 given, 0 received

HI,

thanks to Mike for this forum. I am learning how to trade markets about 3 years. I statrted with intraday, than get some losses and ended up. I was trading than commodities, some seasonal trends but without bigger gains. Now I want to continue in progress and started again with intraday on stock indices.

Thanks for this forum

Lukas

Reply With Quote
 
(login for full post details)
  #5138 (permalink)
Reemus
Brussels Belgium
 
 
Posts: 7 since Aug 2014
Thanks: 5 given, 1 received

Hello community,

I am a young college student from Belgium and i'm aspiring to become a great trader. I haven't invested any money yet, but I have done some paper trading for some time. I hope that this forum will prove helpful to beginners like me and that, after a while, I'll be able to contribute to it myself!

Reemus

Reply With Quote
 
(login for full post details)
  #5139 (permalink)
Cghursh
McKinney, tx
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

I live in the US and am interested in learning more about trading. I kept seeing reference to this forum when Googling for various trading resources. I have been trading on and off for about 10 years with varying degrees of success and hope to take my trading to the next level and become consistent, and part of the elusive 5%.

Reply With Quote
 
(login for full post details)
  #5140 (permalink)
tradingbrian
Malaysia
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

Brian here from Malaysia. I have been trading options and still looking for ways to improve my trading. Hope to learn from all of you here.

Reply With Quote
 
(login for full post details)
  #5141 (permalink)
wonkietonk
New York, NY
 
 
Posts: 16 since Jun 2013
Thanks: 0 given, 2 received

Hey there, equities/futures trader from NYC. Been trading for just over a decade, primarily day and swing trading small cap stocks and day trading YM and TF. I've been shopping for a new broker to do my futures business and hope to get my post count to 10 soon so I can post in the Brokers forum

Reply With Quote
 
(login for full post details)
  #5142 (permalink)
haffi
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

Hello all! Glad to be here Thanks Mike

Reply With Quote
 
(login for full post details)
  #5143 (permalink)
 Sergei30 
Paris + France
 
Experience: None
Platform: NinjaTrader
Trading: Currency Futures
 
Posts: 1 since Jul 2014
Thanks: 3 given, 0 received

I'm Spanish and I've read rave reviews on this forum. So I have become Elite Member and totally recommend.
I'm starting in this business of trading and here are lots of interesting information.
Thank you very much for sharing.

Regards:

Reply With Quote
 
(login for full post details)
  #5144 (permalink)
Tahseenh
On, Canada
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

Big Mike and team,

Glad to have joined a wonderful circle of informed traders.
I am very much a beginner but hope to also contribute useful information to the team during my journey.

Thanks for the invite. Talk to you guys soon!

Regards,
Tahseen

Reply With Quote
 
(login for full post details)
  #5145 (permalink)
 stargazer55 
chicago
 
Experience: Intermediate
Platform: ninjatrader
Trading: My Future
 
Posts: 15 since Aug 2014
Thanks: 25 given, 2 received

I'm also new to this site. I'm still a struggling trader ( trading for about a year and half) looking to find ways to improve my trading.

Reply With Quote
 
(login for full post details)
  #5146 (permalink)
Giannis1951
MILANO ITALY
 
 
Posts: 1 since Jan 2014
Thanks: 3 given, 1 received

Hello.
Nice to be here.
I'm Italian, 63 years old, Engineer, with knowledge of VBA, and I trade from several years.
Of course when I start trading I payed a very big " tax " to understand that when you trade there are not only two position: Long or short, but 3 positions: Long, short or Flat.
And for this my first years of trading were very expansive for me.
Now I learn the magical words: if and when so I open a position only if and when I look a pattern that I consider profitable.
I work only in options ( expecially Dax Options ) and I will be very happy to share some my strategies and of course learn also new picks to improve my trading.

Ciao

Reply With Quote
The following user says Thank You to Giannis1951 for this post:
 
(login for full post details)
  #5147 (permalink)
 erobertsonag 
Gatineau Quebec Canada
 
Experience: Intermediate
Platform: Sierra Chart
Trading: Stocks
 
erobertsonag's Avatar
 
Posts: 107 since Aug 2014
Thanks: 69 given, 79 received

Last November was my last day of a 2.5 year period at full time (well, 3 to 7 hours per day) of trying to become a professional trader. I went back to a full time hour based job (not bad I am a Land Surveyor) in order to help back bring some money in our family. The best I did was a 3 week in a row being positive (well I did it 2 times) and for the rest it was always little negative to neutral.

I am on Linked In, (Etienne Robertson Trader should find me) if you would like to see more details on my background. It is not up to date since I did not revisted it since I went back to my hour based job. If someone like what it contains, I can share my last trading plan which contains some concepts I did kind of figure out like monitoring the time spend in each bar when looking at a tick based chart.

I am now back at a slower paste, got myself a book on Market Profile and for the first time, I kind understand why some days the market does not go anywhere while other it is trending. Well, I did understand it in the past but now I kind have a sense on how to discover it.

I am a NT user and developer so I did code many simple indicators the help me get lost even more ! I am trying to focus now, it is been 4 weeks that I realized that being a professional trader is my goal in life (well I am 42 with 3 kids, 17, 15 and 10 years old so that goal in progress !) and I did use the book and paper for now and I am very proud of that ! Zero chart touching, just learning and taking my own notes on how markets auctions.

One thing I would like to change in my trading is to look at slower chart, I think I was hooked at fast chart like 1 to 2 minutes (they were tick based but I was getting an average tick count to get an average of about 1.5 minutes per bar). That is the thing I think that stresses me a lot because it was too fast ... Anyway, I am not there yet still at page 52 of a 200 pages book so ...

I would like to thank you Big Mike for the eye opening e-mail that you forum send us when we do join. It is so true and I still fight with myself on sharing sometimes ... idiot I am ... So here is my trading concepts in my latest trading plan that I am pleased to share with everybody here, something I was not willing to do on Linked In on last November .... Like if someone would have paid to hire me to get the full version of it or something like that ... It talks about 2 major concepts: 1 Volume level or Volume at price (this was my understanding of pre, post and day volume price level before I got involved in Market Profile, and 2 it is the transaction velocity measurements (which is impossible to measure on a time based chart, only on a tick based chart) concept which I am very proud of ... :-)

Again, thanks for being straight to the point Mike, it did make a huge difference on how I see this community. I will try to open a post to help me stay focused and in the right direction as for my book reading and so on ...

Good night all,

Etienne from Québec Canada

Attached Thumbnails
Introduce yourself here!-trading-plan-etienne-robertson-2013-10-03-bmt.pdf  
Reply With Quote
 
(login for full post details)
  #5148 (permalink)
 mfbreakout 
BOSTON, MA
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,713 received


erobertsonag View Post
Last November was my last day of a 2.5 year period at full time (well, 3 to 7 hours per day) of trying to become a professional trader. I went back to a full time hour based job (not bad I am a Land Surveyor) in order to help back bring some money in our family. The best I did was a 3 week in a row being positive (well I did it 2 times) and for the rest it was always little negative to neutral.

I am on Linked In, (Etienne Robertson Trader should find me) if you would like to see more details on my background. It is not up to date since I did not revisted it since I went back to my hour based job. If someone like what it contains, I can share my last trading plan which contains some concepts I did kind of figure out like monitoring the time spend in each bar when looking at a tick based chart.

I am now back at a slower paste, got myself a book on Market Profile and for the first time, I kind understand why some days the market does not go anywhere while other it is trending. Well, I did understand it in the past but now I kind have a sense on how to discover it.

I am a NT user and developer so I did code many simple indicators the help me get lost even more ! I am trying to focus now, it is been 4 weeks that I realized that being a professional trader is my goal in life (well I am 42 with 3 kids, 17, 15 and 10 years old so that goal in progress !) and I did use the book and paper for now and I am very proud of that ! Zero chart touching, just learning and taking my own notes on how markets auctions.

One thing I would like to change in my trading is to look at slower chart, I think I was hooked at fast chart like 1 to 2 minutes (they were tick based but I was getting an average tick count to get an average of about 1.5 minutes per bar). That is the thing I think that stresses me a lot because it was too fast ... Anyway, I am not there yet still at page 52 of a 200 pages book so ...

I would like to thank you Big Mike for the eye opening e-mail that you forum send us when we do join. It is so true and I still fight with myself on sharing sometimes ... idiot I am ... So here is my trading concepts in my latest trading plan that I am pleased to share with everybody here, something I was not willing to do on Linked In on last November .... Like if someone would have paid to hire me to get the full version of it or something like that ... It talks about 2 major concepts: 1 Volume level or Volume at price (this was my understanding of pre, post and day volume price level before I got involved in Market Profile, and 2 it is the transaction velocity measurements (which is impossible to measure on a time based chart, only on a tick based chart) concept which I am very proud of ... :-)

Again, thanks for being straight to the point Mike, it did make a huge difference on how I see this community. I will try to open a post to help me stay focused and in the right direction as for my book reading and so on ...

Good night all,

Etienne from Québec Canada


Thanks for sharing your plan. I do not day trade stocks ( started out with them 5 years ago) till someone guided me to futures for day trading. My recommendation will be to 1) Pick strongest performing sectors and from there pick strongest performing stocks for longs ONLY. 2) Pick the weakest sectors and weakest stocks within that sector for Shorts ONLY. 3) Try to do SWING trading to let the stocks follow their natural course instead of 1 minute, 5 minute etc charts. If a right stock is picked within right sector- long or short- entry becomes least important. Everyone seems to spend most time on small time frame charts to get an edge.

Swing trading can be for a day, 2 days, a week etc. I day trade futures and whenever i have trade stocks, it's always as a SWING trader.

Last point, think about how a trader with large capital base will trade stocks? Will he be trading like majority of traders do?

2 charts from coal sector are attached. Weakest sector with weakest stocks. There are many, many others in the same sector. One could have picked any. All one has to do is short and HOLD.

Attached Thumbnails
Click image for larger version

Name:	2014-08-21_0021_anr.png
Views:	55
Size:	107.8 KB
ID:	153818   Click image for larger version

Name:	2014-08-21_0023_BTU.png
Views:	52
Size:	111.9 KB
ID:	153819   Click image for larger version

Name:	2014-08-21_0059__eog.png
Views:	67
Size:	96.1 KB
ID:	153820  
Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #5149 (permalink)
 Aurac 
London+United Kingdom
 
Experience: Advanced
Platform: eSignal
Broker: InteractiveBrokers
Trading: If it moves...
 
Aurac's Avatar
 
Posts: 34 since Jan 2013
Thanks: 28 given, 61 received

Hi Forumites,

I joined this Forum a while back and haven't posted anything as yet. I wanted to take this opportunity to say thank you to Big Mike for his fantastic contributions. Just reading through Big Mike's day trading method and advice in the psychology section is a real education in and of itself. I also want to say thanks to all the participants in the Forum for their contributions as well.
Understanding yourself from within is what makes the difference in successful trading and investing.
May all that you wish for be the least that you receive.
A

Reply With Quote
 
(login for full post details)
  #5150 (permalink)
 Mario77 
London, UK
 
Experience: Advanced
Platform: Tradestation
Trading: ES
 
Posts: 3 since Aug 2014
Thanks: 0 given, 1 received

Ciao a tutti,

I read this forum from several months, everytime finding out new interesting ideas and usefull codes.
I'm Mario and I'm from Italy, I'll try to write in your language doing less mistakes as possible.
I began to follow the financial market in 1999 and I never stoped to do it.

The markets i studied and i trade are the futures on the main american indexs.

I hope to give a little help.
Mario

Reply With Quote
 
(login for full post details)
  #5151 (permalink)
 erobertsonag 
Gatineau Quebec Canada
 
Experience: Intermediate
Platform: Sierra Chart
Trading: Stocks
 
erobertsonag's Avatar
 
Posts: 107 since Aug 2014
Thanks: 69 given, 79 received

Thanks for the reply mf, it is interesting since the book I am going through right now is one of the 2 books pictured in your signature ... Markets in Profiles ! Yes, some swing trade should make sense for me to restart with, thank for the coal tip. But I am still searching for the best timeframe that fit me, I like to be active for 2 to 4 hours and being done after ... All position closed ... But I want to finish studying Markets in Profiles, maybe at some point in the book a timeframe will attract me.

As for the stocks vs futures for day trading I think it is just a little bit of fear of not knowing a lot about futures that makes me stick to stocks, never really exposed to futures actually. In my mind they are all charts, I am debating the advantage of futures vs QQQ or SPY or ORCL of MSFT for example. Are futures charts more stable, more easy to predict, or follow ?

Again, tx MF

Reply With Quote
 
(login for full post details)
  #5152 (permalink)
 mfbreakout 
BOSTON, MA
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,713 received


erobertsonag View Post
Thanks for the reply mf, it is interesting since the book I am going through right now is one of the 2 books pictured in your signature ... Markets in Profiles ! Yes, some swing trade should make sense for me to restart with, thank for the coal tip. But I am still searching for the best timeframe that fit me, I like to be active for 2 to 4 hours and being done after ... All position closed ... But I want to finish studying Markets in Profiles, maybe at some point in the book a timeframe will attract me.

As for the stocks vs futures for day trading I think it is just a little bit of fear of not knowing a lot about futures that makes me stick to stocks, never really exposed to futures actually. In my mind they are all charts, I am debating the advantage of futures vs QQQ or SPY or ORCL of MSFT for example. Are futures charts more stable, more easy to predict, or follow ?

Again, tx MF


Jim Dlaton books are great for CONTEXT and have practically zero value for execution ( IMHO). A quote from Jim Dalton " I am not a market profile trader". I heard this from Jim dalton during a Q&A session in a webinar after i had invested 6 months of intense time in Market Profile. This does not mean my study was a waste. It took me a while to understand Jim's point. He has many, many excellent webinars also availabe over the net. I listened to them again and again whenever i get time. For exeution- read Mark Fisher book " The logical trader".

My premise is that futures are easier to trade. There are many , many reasons for it. I trade Russell, NQ and commodities. Stay away from SPY.

Futures VS Stocks. Let me give you an example. I know some traders who are properiteary traders at SMB capital- one of the very fine firms. They all day trade stocks. Per Mike Bellafiore ( one of the partners at SMB), the firm interviews every year 100's of traders for her prop desk. They been doing this for over 15+ years. So, they have this selection process to a science. What are the results?

Each year if 10 are selected for 9 months training program- ONLY 2-4 are left by the time training is finished and LIVE trading has been under way and the numbers even go down further after a trader has been trading LIVE for a year.

This does not mean if these traders were trading futures, their success rate willbe higher. The point is to present what's out there. After all said and done- an equity trader has $1 million trading line ( typically successful traders get after 1 year) and considered very successful if they clear $ 1,000 to 1500/day.

A future trader can blow these figures out of the water with $1 million trading account.

There are many journals at futures.io (formerly BMT)- follow them and see if it makes sense. Regardless of whether one is trading futures or individual stocks- keep daily market internals FRONT and CENTER. I did not see these mentioned in your trading plan.

See attached chart.

and for Mark Fisher method, i present INTC chart with today market internals. Strong stock plus +market internals- go long. Some stocks make strong intra day moves even without +ve internals but i like when they line up.

Attached Thumbnails
Click image for larger version

Name:	2014-07-10_1730_mkt__internals.png
Views:	67
Size:	234.1 KB
ID:	153899   Click image for larger version

Name:	2014-08-21_1929_intc.png
Views:	66
Size:	114.5 KB
ID:	153900   Click image for larger version

Name:	2014-08-21_1933_nyse.png
Views:	64
Size:	197.9 KB
ID:	153901  
Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #5153 (permalink)
daddy
Budapest+Hungary
 
 
Posts: 151 since Aug 2014
Thanks: 139 given, 204 received

Dear futures.io (formerly BMT) community,

To many of you, I guess it’s not a surprise that I blew up my account twice already, even Big Mike starts with this in his introduction. But how did I do this? I try to take my story short, and I’d really appreciate any comments or advice, except one, that trading is not for me. I want to do this.

I thought it would be at least a couple of years to learn this profession, so I worked a lot to save. Then started my first paid course: basic candle charts, patterns. I started to trade stocks at the end of 2010. I used basic candle patterns as triggers, I used stop loss, mostly I closed a month with a loss.
So okay, let’s do it big, where I can make serious money to cover my losses – at least I thought – IPOs. Needless to say I began to lose serious money, off goes my first account. The market taught me my first lesson: I shouldn’ think I know the direction, I should follow strict rules, and be disciplined.

I started to interest in options, so that was my second paid course. Since I won and lost trying to tell the direction, I tried directionless strategies: short strangles, mainly on SPY and USO. The problem was it was really small money I could make, and hedging with the basic product was too expensive for my account.

I felt something about this, so I paid my third course, specifically on directionless strategies on futures. I sold with 0.10 delta, and try to alter my CL and ZW positions when they came against me. I blewed my second account.

Somehow I found the market auction theory, so right now I’m papertrading just on CL, perhaps the concentration on one thing helps.

What did I achieve until now:
- I know that only I am responsible for my trades
- I don’t look for the Holy Grail, or want to buy the „sure system” in trading, knowing it doesn’t exist
- I don’t want to get rich quick, I need a steady income, with my shrinked account that should be around a yearly 40%.
- Nobody knows the sure direction of the market, so I should not trade according to analysts’ opinions, or news – when it should go one way, it can go opposite as well
- I can accept that losing is part of the game

Unfortunately I don’t know any successful trader personally. Of course, places where I paid to learn, everybody claimed to be succesful, even „proving” it with great looking P&L charts, with steady up, 10-20 % drawbacks.

My main problem is I’m starting to lose faith, mainly because I learned that it’s not the market, who punishes me, it’s my fault that I didn’t make a profit. Maybe it’s the increasing pressure: I have a family to take care of, my savings are running low, and I don’t have any other income.

My questions are for the community:
- Is there anybody here who tried to make a living from trading more than 4 years with a great loss? What helped to be successful?
- Is there anybody here who can make yearly a steady 30-40%? (that would make a living for me, with 50% I’d be more than happy.)

Thanks for any comments, advices!

Zolt

Reply With Quote
The following user says Thank You to daddy for this post:
 
(login for full post details)
  #5154 (permalink)
 mfbreakout 
BOSTON, MA
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,713 received


daddy View Post
Dear futures.io (formerly BMT) community,

To many of you, I guess it’s not a surprise that I blew up my account twice already, even Big Mike starts with this in his introduction. But how did I do this? I try to take my story short, and I’d really appreciate any comments or advice, except one, that trading is not for me. I want to do this.

I thought it would be at least a couple of years to learn this profession, so I worked a lot to save. Then started my first paid course: basic candle charts, patterns. I started to trade stocks at the end of 2010. I used basic candle patterns as triggers, I used stop loss, mostly I closed a month with a loss.
So okay, let’s do it big, where I can make serious money to cover my losses – at least I thought – IPOs. Needless to say I began to lose serious money, off goes my first account. The market taught me my first lesson: I shouldn’ think I know the direction, I should follow strict rules, and be disciplined.

I started to interest in options, so that was my second paid course. Since I won and lost trying to tell the direction, I tried directionless strategies: short strangles, mainly on SPY and USO. The problem was it was really small money I could make, and hedging with the basic product was too expensive for my account.

I felt something about this, so I paid my third course, specifically on directionless strategies on futures. I sold with 0.10 delta, and try to alter my CL and ZW positions when they came against me. I blewed my second account.

Somehow I found the market auction theory, so right now I’m papertrading just on CL, perhaps the concentration on one thing helps.

What did I achieve until now:
- I know that only I am responsible for my trades
- I don’t look for the Holy Grail, or want to buy the „sure system” in trading, knowing it doesn’t exist
- I don’t want to get rich quick, I need a steady income, with my shrinked account that should be around a yearly 40%.
- Nobody knows the sure direction of the market, so I should not trade according to analysts’ opinions, or news – when it should go one way, it can go opposite as well
- I can accept that losing is part of the game

Unfortunately I don’t know any successful trader personally. Of course, places where I paid to learn, everybody claimed to be succesful, even „proving” it with great looking P&L charts, with steady up, 10-20 % drawbacks.

My main problem is I’m starting to lose faith, mainly because I learned that it’s not the market, who punishes me, it’s my fault that I didn’t make a profit. Maybe it’s the increasing pressure: I have a family to take care of, my savings are running low, and I don’t have any other income.

My questions are for the community:
- Is there anybody here who tried to make a living from trading more than 4 years with a great loss? What helped to be successful?
- Is there anybody here who can make yearly a steady 30-40%? (that would make a living for me, with 50% I’d be more than happy.)

Thanks for any comments, advices!

Zolt

Follow couple of journals at futures.io (formerly BMT) who trade futures and see if any approach makes sense to you.

" 30-40% steady annual return" ? that's a mark of traders who are top of their game. It can be done and is being done by traders but a very , very small percentage of trading population based on various studies.

After a method /trading approach is finalized having a proper amount of trading capital and trading with no leverage is the key. This is an area of major problem. Traders trying to make a living trading full time on a shoe string. 30% on a $200,000 trading account is $60,000 Gross. After one accounts for commission etc, one can take off 6-8% from this gross. How can anyone make a living on 30K, 60K etc trading account is beyond me. Of course brokers, traders with dreams in their eye etc. will give you pie in the sky story all day long. Couple of months ago, i was talking to a broker who has been in the industry for 30+ years. According to him he has several traders who make 6 figure income on $200k account etc This is after paying about $200,000 in comission. I said this does not make sense. His answer " What difference does it make if one is making 6 figure income?". That's all i needed to know to stay clear. Everyone will tell you to blame yourselve , take responsibility, be discipline etc. These are common sense things. They miss one part. Staying power and not using tight stop loss. But how can one have a wide stop loss when ones account has no staying power. I use 100-150 ticks stop loss for day trading CL. Most of the traders can never and will never wrap their head around this concept and will keep dreaming. It took me ONLY 4 years to realize this even though some traders have been telling me about this for years.

In this discussion assumption is implicit that one has a good basic trading method. Any method. It does not matter. Whatever appelas to a trader is a good method and there are many.

If you happen to find a trader who is doing it on a $10K etc account, just move in with them and learn everything from that trader. I have not found one and i never looked for one. Even though there are many who claims that they have done it and are doing it and are happy to lend you on that path for $99/month ( i have seen as high a s$500/month) fee for their trading room service.

Good Luck.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to mfbreakout for this post:
 
(login for full post details)
  #5155 (permalink)
 mfbreakout 
BOSTON, MA
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,713 received

Hi daddy,

Following is a recent post from Brett talking about study as to what % of traders make money on a consistent basis trading full time. I first read this post 4 years ago and decided to ignore it and paid heavy price.

One name lot of experienced trader respect is Dr. Brett Steenbarger. Everyone should follow his blog

TraderFeed

For all new traders and experience ones here is a summary of recent post by Brett.

" I strongly recommend reading the research study of speculator skill from Barber, Lee, Liu, and Odean. They studied the returns of daytraders over a 15-year period, the largest sample I am aware of in such a study. Their study is also unique in that it looks at the ability of traders to make money in a second year after having made money in the first.

The authors conclude that "there is clear performance persistence." The very top traders who make money net of fees tend to continue to make money going forward. The traders who lose money tend to continue losing money.

Here is the most important conclusion, however:

"In the average year, 360,000 individuals engage in day trading. While about 13% earn profits net of fees in the typical year, the results of our analysis suggest that less than 1% of day traders (less than 1,000 out of 360,000) are able to outperform consistently." (p. 15).

In other words, 87% of day traders in a given year lose money after fees are taken into account. About .28%--one in 360--is able to make money after fees year over year.

To be sure, that small group of very successful day traders earns a significant return. After expenses, they average +28 bps per day. Compare that to the 350,000 out of 360,000 daytraders who average a daily loss of 5.7 bps per day after expenses.

The authors conclude that day trading skill genuinely exists. They also conclude that it is very, very rare. "

I happen to believe that i do not want to give my self pass/fail grade based off my ability to pick them within 10-20 ticks stop loss while trading on a shoe string trading capital.

If it was possible ( there are always exceptions) to make a living trading full time with 20,50 K etc trading account, i wonder why does top of the line prop firms start out their traders at prop firm with $1 million trading capital. The bar is very high for traders who get this line of credit. But these firms do not spend considerable resources to hire, train traders for the firm and say here is $50K - you got a solid method and GO.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to mfbreakout for this post:
 
(login for full post details)
  #5156 (permalink)
daddy
Budapest+Hungary
 
 
Posts: 151 since Aug 2014
Thanks: 139 given, 204 received

Thanks, mf! I heard about these statistic myself, but one can try to be in the 1%
I also heard the first couple of years' losers exit the trading market, so it always should be filled with novices, who lose because of being novices.
According to your observations, how much is a "typical" yearly income %? How long did it take to you to become successful? If you lost in the beginning, what helped to turn profitable?

Thanks!

Reply With Quote
 
(login for full post details)
  #5157 (permalink)
 isla 
Kyiv/Ukraine
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: Indexes, CL
 
Posts: 114 since Jun 2012
Thanks: 79 given, 174 received


mfbreakout View Post
Follow couple of journals at futures.io (formerly BMT) who trade futures and see if any approach makes sense to you.

" 30-40% steady annual return" ? that's a mark of traders who are top of their game. It can be done and is being done by traders but a very , very small percentage of trading population based on various studies.

After a method /trading approach is finalized having a proper amount of trading capital and trading with no leverage is the key. This is an area of major problem. Traders trying to make a living trading full time on a shoe string. 30% on a $200,000 trading account is $60,000 Gross. After one accounts for commission etc, one can take off 6-8% from this gross. How can anyone make a living on 30K, 60K etc trading account is beyond me. Of course brokers, traders with dreams in their eye etc. will give you pie in the sky story all day long. Couple of months ago, i was talking to a broker who has been in the industry for 30+ years. According to him he has several traders who make 6 figure income on $200k account etc This is after paying about 200,000 in comission. I said this does not make sense. His answer " What difference does it make if one is making 6 figure income?". That's all i needed to know to stay clear. Everyone will tell you to blame yourselve , take responsibility, be discipline etc. These are common sense things. They miss one part. Staying power and not using tight stop loss. But how can one have a wide stop loss when ones account has no staying power. I use 100-150 ticks stop loss for day trading CL. Most of the traders can never and will never wrap their head around this concept and will keep dreaming. This is provided one has a good basic trading method. Any method. It does not matter. Whatever appelas to a trader is a good method and there are many.

Good Luck.

mfbreakout, I may not have as much experience posting on this forum, but I generally try to refrain from presenting my own opinion/beliefs as facts. There are other ways to trade apart from yours (which, to be honest, doesn't make sense to me). So considering what Zolt was actually asking about, there is no need to discuss your limited personal experience as it has no relevance. Anyone can do the numbers for return and capital required.


Zolt, two points:

The returns you want to make from trading (especially steady) are only possible after the fact. What I mean is, they are achievable, but you definitely cannot plan for them. People who trade for living always prepare for worse. No-one knows if next month or even year will be profitable. I'm sure you've heard this before, the only thing you can focus on and control is your process.

I don't have doubts you can make it in trading, unfortunately no-one can tell you when. Your goal of supporting family while not being profitable at the moment, makes things much more difficult. It's up to you to decide if you want to expose your family to that kind of risk. While you may think risk is calculated, you need to consider what your worst case is. If you don't mind going through your savings and still not making money trading, and you can easily find a job that will pay enough then, maybe, you just need to keep pushing and learning from your own experience.

I don't know how long your savings can last or how big your trading capital is, but there may be one more thing for you to consider. You could use your capital to increase your cushion and try to get funded by a firm. It will give you more piece of mind and, even though there is a profit split, the size of capital a firm can provide will not require you to make 30% yearly to make a living. As always, think for yourself.

Reply With Quote
The following 2 users say Thank You to isla for this post:
 
(login for full post details)
  #5158 (permalink)
 mfbreakout 
BOSTON, MA
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,713 received


daddy View Post
Thanks, mf! I heard about these statistic myself, but one can try to be in the 1%
I also heard the first couple of years' losers exit the trading market, so it always should be filled with novices, who lose because of being novices.
According to your observations, how much is a "typical" yearly income %? How long did it take to you to become successful? If you lost in the beginning, what helped to turn profitable?

Thanks!


Slightly profitable after 3 years but desire to control stop lossess and looking at small time frame like 1 minute etc. kept the progress not worth mentioning. Increased the profitabilty by 100% after i finally decided to lift the lid froom stop loss, stop trading with FEAR and start trading while haning FUN. I started using wide stop loss about 7 months ago after 5 years of SONG and DANCE.

I lost lot of money.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to mfbreakout for this post:
 
(login for full post details)
  #5159 (permalink)
 mfbreakout 
BOSTON, MA
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,713 received

Hi Isla,


" There are other ways to trade apart from yours (which, to be honest, doesn't make sense to me). "

Where did i said that trade the way , i do and use stop loss i like do? I just share my experience starting from 10 ticks trader to present.

However, points you make are valid. As far my trading does not make sense - that's what makes the market. Hi, Mark Fisher, the developer of ACD method and a legend in trading world could make sense of his method to about 400 traders out of couple of thousands he taught at his firm, trading seminars etc.

That's why i always say, any method is good as long it suits a trader personality.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to mfbreakout for this post:
 
(login for full post details)
  #5160 (permalink)
 isla 
Kyiv/Ukraine
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: Indexes, CL
 
Posts: 114 since Jun 2012
Thanks: 79 given, 174 received


mfbreakout View Post
Hi Isla,


" There are other ways to trade apart from yours (which, to be honest, doesn't make sense to me). "

Where did i said that trade the way , i do and use stop loss i like do? I just share my experience starting from 10 ticks trader to present.

However, points you make are valid. As far my trading does not make sense - that's what makes the market. Hi, Mark Fisher, the developer of ACD method and a legend in trading world could make sense of his method to about 400 traders out of couple of thousands he taught at his firm, trading seminars etc.

That's why i alwys say, any method is good as long it suits a trader personality.

mfbreakout, I agree you didn't suggest to use your method. But as everyone here can only read what they see without knowing what you implied, it definitely felt that you think your style is somehow special.

You mentioned something about small stops and dreamers. See, we have completely different experience. While I've never really looked into ACD and know nothing about Mark Fisher or his successful students, I was a part of a firm with a couple of hundred guys who were trading for ticks for living. When you said it didn't make sense to you how people make six figures while paying 200k in commissions it just made me smile.

All I meant is that there is a difference between an opinion and a fact and the way they should be presented (especially if you consider that your comment may actually affect someone's life).

Thanks for your reply

Reply With Quote
The following 2 users say Thank You to isla for this post:
 
(login for full post details)
  #5161 (permalink)
 mfbreakout 
BOSTON, MA
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,713 received


isla View Post
mfbreakout, I agree you didn't suggest to use your method. But as everyone here can only read what they see without knowing what you implied, it definitely felt that you think your style is somehow special.

You mentioned something about small stops and dreamers. See, we have completely different experience. While I've never really looked into ACD and know nothing about Mark Fisher or his successful students, I was a part of a firm with a couple of hundred guys who were trading for ticks for living. When you said it didn't make sense to you how people make six figures while paying 200k in commissions it just made me smile.

All I meant is that there is a difference between an opinion and a fact and the way they should be presented (especially if you consider that your comment may actually affect someone's life).

Thanks for your reply

I am sorry if i implied that my style is special. Confident about my style? Yes, very confident and may be that gave the impression. I know couple of traders at SMB capital who trade stocks , with tight stop loss and look for ticks all day long and thats the only way they can trade.

I did not mean to imply that my personal experience reflects the entire trading industry. What i am trying to say that in my personal experience , and based off my interaction of at least 30 traders who followed my first journal, they finally are trading with confidence in some part of what they gathered from my journal. They try to give 100% credit, i will take 5% of that. That's all.

My main point is if one is not successful based off whatever they have tried, time to change. If i was working at SMB capital and got booted out ( which i would have been in a NY minute) becuase that style does not suit me, should i have just packed bags and said man i can not make it based off what SMB does? No, i said let's find and use what suits me and that's what i try to share.

NOTE: On a separate note, i am a big fan of SMB capital. It's good to know that Steve Spencer - partner of SMB capital- and a superb day trader can not hold a candle when it comes to my universe just like i can not in his universe.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to mfbreakout for this post:
 
(login for full post details)
  #5162 (permalink)
 cory 
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
cory's Avatar
 
Posts: 6,046 since Jun 2009
Thanks: 857 given, 7,918 received


daddy View Post
Dear futures.io (formerly BMT) community,

To many of you, I guess it’s not a surprise that I blew up my account twice already,

me too.


Quoting 
My main problem is I’m starting to lose faith,

the fact are you are still here and you are on futures.io (formerly BMT) so there is hope.


Quoting 
My questions are for the community:
- Is there anybody here who tried to make a living from trading more than 4 years with a great loss? What helped to be successful?
- Is there anybody here who can make yearly a steady 30-40%? (that would make a living for me, with 50% I’d be more than happy.)

Thanks for any comments, advices!

Zolt

these lines of questions show you are not that far from the starting point, spend more time get to know yourself instead.

Reply With Quote
 
(login for full post details)
  #5163 (permalink)
daddy
Budapest+Hungary
 
 
Posts: 151 since Aug 2014
Thanks: 139 given, 204 received


cory View Post
me too.



the fact are you are still here and you are on futures.io (formerly BMT) so there is hope.



these lines of questions show you are not that far from the starting point, spend more time get to know yourself instead.

Hi cory,

I'm very far from the starting point, I can assure you e.g. I've been told not to trade IPOs, but I did - with "I'm gonna be smarter" mentality. I can say I'm humble and disciplined by now, the only thing is missing a little bit is proof that it can be done.
I also know that someone else's success won't help me, but if many can be profitable, I think I can as well. So if I knew [I]real traders[I] who are consistently profitable, that would help me in some way.

Reply With Quote
 
(login for full post details)
  #5164 (permalink)
daddy
Budapest+Hungary
 
 
Posts: 151 since Aug 2014
Thanks: 139 given, 204 received


isla View Post
I don't know how long your savings can last or how big your trading capital is, but there may be one more thing for you to consider. You could use your capital to increase your cushion and try to get funded by a firm. It will give you more piece of mind and, even though there is a profit split, the size of capital a firm can provide will not require you to make 30% yearly to make a living. As always, think for yourself.

Hi isla,

thanks for your thoughts, I already aware of these problems, and the decision is hard, but I'd like to be a trader...
To get funded I should be profitable first I presume, do you know anything about the process of funding?

Thanks,
Zolt

Reply With Quote
The following user says Thank You to daddy for this post:
 
(login for full post details)
  #5165 (permalink)
chittu
London
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

thanks for the great forum and sharing. I really like the futures.io (formerly BMT) discussions.

I live in UK (moved from US) but I haven't started trading here though I'm investing and doing positional trade in indian market for several years. At the moment I'm looking for a broker here in UK but I have no idea whom to choose for low brokerage fee.

Reply With Quote
 
(login for full post details)
  #5166 (permalink)
 isla 
Kyiv/Ukraine
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: Indexes, CL
 
Posts: 114 since Jun 2012
Thanks: 79 given, 174 received


daddy View Post
Hi isla,

thanks for your thoughts, I already aware of these problems, and the decision is hard, but I'd like to be a trader...
To get funded I should be profitable first I presume, do you know anything about the process of funding?

Thanks,
Zolt

Hi Zolt,

There are generally two ways. The first is to try to get in with all the graduates, which I imagine is extremely difficult nowadays when not many firms are even hiring. This will require some luck as well depending on what qualities and experience the firm is looking for. If you manage to get in straight away that's great, otherwise I wouldn't waste too much time on it. Getting a job is not the end goal, you still would need to develop into a profitable trader, and don't expect to learn any "secrets". Generally, experience of starting out in a prop firm can be very different depending on how well you fit into their system.

The second path is to develop a skill and then get funded based on your results. I've seen several companies offering to pass a selection process. TopstepTrader is one of them.

Personally I think prop firms have less to offer today than 5-10 years ago. Making money in the markets has become more difficult and takes more time to learn, that's why only very few firms survived.

Reply With Quote
The following user says Thank You to isla for this post:
 
(login for full post details)
  #5167 (permalink)
 mfbreakout 
BOSTON, MA
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,713 received

Hi Isla,

Just to be clear following is what i said.

" Couple of months ago, i was talking to a broker who has been in the industry for 30+ years. According to him he has several traders who make 6 figure income on $200k account etc. This is after paying about $200,000 in comission. "

I am not sure you noticed that as you mentioned in response ;

" When you said it didn't make sense to you how people make six figures while paying 200k in commissions it just made me smile. "

It still does not add up for me. Paying 100% of one trading account in commission and they producing 6 figure income?

Myabe you misunderstood me or i am misunderstanding. In the end we all go by our own experiences and thanks to your post it makes all the sense to add disclaimer to my posts.


NOTE: I should have given more details about my conversation with this broker. $200,000 trading account was just used as an example by me for my conversation with this broker. He was recommended to me someone i trust and i was trying to understand how some of so called BIG producers were trading at his brokerage house. I already knew the answer from SMB capital side since i know some of her traders- $1million to start with and goes up as trader proves himself etc. For SMB traders 2 years out after training expectation is $150,000 gross on $1 milion trading capital. I can relate to that. I said to myself, let me find what someone else experience is and that's where this broker came in. When he told me , it all depends on a trader skillset and he has couple of clients who clear 6 figure on a 200-300K account day trading stocks, i asked him number of trades done in a day to achieve those results. Based on his answer , he agreed that they pay minimum of $200,00 in comission. Basically lot of trades at very high speed with very little risk etc.

I decided it's not for me and most of traders who follow my journal. I am not good enough or ever will be to pay 100% of trading capital in commission and still produce 200-400% annual return. 30% annual return on trading capitalis all i can focus and hope to achieve on a consistent basis.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #5168 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,094 since Jun 2009
Thanks: 32,558 given, 98,593 received

Moderator Notice
Moderator Notice



Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread Reply With Quote
The following 6 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #5169 (permalink)
CMan1
Vero Beach, FL. USA
 
 
Posts: 4 since Aug 2014
Thanks: 23 given, 1 received

I started reading the tape in Brokers offices since 1982.
I learned charts after the 1987 crash and do my own research.
I use a number of platforms and feeds.
I continue to learn everyday and I never stop learning.

Have a Great Day and enjoy life,
CMan1

Reply With Quote
 
(login for full post details)
  #5170 (permalink)
 elGaukler 
Lima, Peru
 
Experience: Intermediate
Platform: NinjaTrader
Trading: CL, TF
 
elGaukler's Avatar
 
Posts: 5 since Aug 2012
Thanks: 7 given, 5 received

Hi,
I am from Germany, but living in Lima, Peru for some time.
After beeing only a casual reader in this forum for a long time I became Elite Menber last week and I want to say THANK YOU to @Big Mike for creating a space for such a great community of traders who are willing to share their knowledge, experiences and trading tools.
Greetings,

elGaukler

Reply With Quote
 
(login for full post details)
  #5171 (permalink)
Robert B
Lansing, MI/USA
 
 
Posts: 1 since Jun 2014
Thanks: 2 given, 0 received

I'm Robert B., and pretty new, but not brand new.

I don't have any Holy grail. But I might have a little something. I've been trading with Adam Beeler on Direction trader (his website). I've been losing money, but I'm not sure he is. I trade with him live and try to work at the same time. I have had some nice winners, but I've had too many losers and had to refund my account. I still recommend his site because A.) It's fun B.) I think if you trade with him and don't miss trades like me, you may come out ahead. C.) I've learned a lot.

That's my contribution. I could speak about stochastic indicator or some others but. A.) It's probably been discussed a hundred times on here, and I don't really know that they help any. It seems to me all indicators just seem to tell you what just happened. Well, if you were watching the chart you just saw that anyhow. I'm still trying, and learning though, so maybe I'll discover something.

Best wishes to all!

Reply With Quote
 
(login for full post details)
  #5172 (permalink)
 erobertsonag 
Gatineau Quebec Canada
 
Experience: Intermediate
Platform: Sierra Chart
Trading: Stocks
 
erobertsonag's Avatar
 
Posts: 107 since Aug 2014
Thanks: 69 given, 79 received


mfbreakout View Post
Jim Dlaton books are great for CONTEXT and have practically zero value for execution ( IMHO). A quote from Jim Dalton " I am not a market profile trader". I heard this from Jim dalton during a Q&A session in a webinar after i had invested 6 months of intense time in Market Profile. This does not mean my study was a waste. It took me a while to understand Jim's point. He has many, many excellent webinars also availabe over the net. I listened to them again and again whenever i get time. For exeution- read Mark Fisher book " The logical trader".

My premise is that futures are easier to trade. There are many , many reasons for it. I trade Russell, NQ and commodities. Stay away from SPY.

Futures VS Stocks. Let me give you an example. I know some traders who are properiteary traders at SMB capital- one of the very fine firms. They all day trade stocks. Per Mike Bellafiore ( one of the partners at SMB), the firm interviews every year 100's of traders for her prop desk. They been doing this for over 15+ years. So, they have this selection process to a science. What are the results?

Each year if 10 are selected for 9 months training program- ONLY 2-4 are left by the time training is finished and LIVE trading has been under way and the numbers even go down further after a trader has been trading LIVE for a year.

This does not mean if these traders were trading futures, their success rate willbe higher. The point is to present what's out there. After all said and done- an equity trader has $1 million trading line ( typically successful traders get after 1 year) and considered very successful if they clear $ 1,000 to 1500/day.

A future trader can blow these figures out of the water with $1 million trading account.

There are many journals at futures.io (formerly BMT)- follow them and see if it makes sense. Regardless of whether one is trading futures or individual stocks- keep daily market internals FRONT and CENTER. I did not see these mentioned in your trading plan.

See attached chart.

and for Mark Fisher method, i present INTC chart with today market internals. Strong stock plus +market internals- go long. Some stocks make strong intra day moves even without +ve internals but i like when they line up.

Hi MF,

Again many tx for the numerous advice. I am starting chapter 6 (Intemediate-Terms Auctions) of Market In Profile with about 32 pages of hand written notes as of now. I will get into the Logical Trader as soon as I am done with Market In Profiles. Tx for the difference between context and execution, I do understand better now.

As for Market Internals I was using the TRIN in the past (in older trading plans) but I agree, I have 0 market internal to follow in my most recent trading plan. I guess that Mark Fisher will guide me as of the most effective markets internal to follow.

INTC is one of the stocks I was following last year and that I did trade. I see you are looking at many volume related internals and advancing/declining related internals, I am looking forward to add some of these once I will digest the 2 books ...

As for Jim Dalton webinars, I have see that he has numerous on his website under Recorded Webinar. I will have to check them all, they all seems very nice !!!

Tx for the note to look at journals of futures.io (formerly BMT), but for now I want to focus on the books, I need to understand and catch how markets behave and work prior to look at charts again. What do you think ?

Again, many tx erobertsonag

Reply With Quote
 
(login for full post details)
  #5173 (permalink)
Jesse14
Bratislava/ Slovakia
 
 
Posts: 2 since Aug 2014
Thanks: 0 given, 1 received

Hi
I started live trading about 5 years ago intraday with e mini Ym using price action onyl.
Now I trading long term commodities and sometimes stocks by combinate fundamental and technical analyst.
Last 3 years Im do it for full time.

Reply With Quote
 
(login for full post details)
  #5174 (permalink)
gmstrad25
Lostwithiel / United Kingdom
 
 
Posts: 1 since Aug 2014
Thanks: 1 given, 0 received

Just listened to a webinar on youtube and subsequentely led to this forum.

Hope to find some solutions as to why i always lose all my money.

Have racked up account by 10 times quite often then lose it all in a week.

Need to solve the problem as do we all.

regards

Reply With Quote
 
(login for full post details)
  #5175 (permalink)
 tradingology 
Syracuse, NY / USA
 
Experience: Master
Platform: TradeStation, TOS
Trading: Options
 
tradingology's Avatar
 
Posts: 1 since Aug 2014
Thanks: 3 given, 1 received

Hi all...

My name is Dave...

My first stock purchase was 10 shares of Syntex in 1974 (maker of the 'pill') made $ - was hooked...
Traded call and put debit spreads on the OEX in 1987 before the crash (broker: Kidder-Peabody)...
Learned the important lesson of Volatility during the crash (but did not trade it)...
Was mentioned in an article in Barron's in 1987...
Developed a proprietary indicator (I still use today) based on price and volume in 1992...
Trading account wiped out twice (once in $100's of thousands ouch)...
Came back again and again and again and again and again...
Re-published Richard D. Wyckoff's (using pen name "Rollo Tape") book on trading...
Traded futures, option, complex spreads, etf's heavily for 7 years (2004-2011)...
Created a training program called Trading As A Business (aka Trading Pro System)...
Most $ made in one day trading (real money acct): $47,692.27...
Since 2011 trade only options using a variation of a box spread ...
I'm now what I call a Lifetstyle Trader (I trade profitably and stress-free ...
I don't usually "join" things but like Big Mike's style :-)

My favorite quote:
"When it comes to the markets... it doesn't matter how long I've been trading, how much experience or knowledge I have, I'm always a beginner." - Richard D Wyckoff

Glad to be here - looking forward to learning a lot and helping when I can.

Reply With Quote
The following 2 users say Thank You to tradingology for this post:
 
(login for full post details)
  #5176 (permalink)
harish
GUWAHATI ASSAM INDIA
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

I am from India and new to FUTURES AND OPTIONS, hope i can learn quiet a bit from your blog , it looks great here & u have done a wonderful job. Keep it up.

Reply With Quote
 
(login for full post details)
  #5177 (permalink)
 burksh14 
Cleveland, Ohio USA
 
Experience: Advanced
Platform: Ninja Trader
Trading: Oil Futures
 
Posts: 1 since Jul 2014
Thanks: 2 given, 0 received

Hello everyone. I am a new subscriber to futures.io (formerly BMT) and new to following threads. I'm sure I will make some mistakes but I am looking forward in learning and participating in this forum. Good trading to all.

Harold

Reply With Quote
 
(login for full post details)
  #5178 (permalink)
 arthen79 
Stavanger, Rogaland/Norway
 
Experience: None
Platform: traders-hideout
Trading: eur/usd
 
Posts: 3 since Aug 2014
Thanks: 22 given, 0 received

Hello everybody

1 I would like to give a BIG THANKS to Mike, for shearing years of experience, hard Work and Knowledge for people like me
And Giving me The Chance, to learn How to use different tools the right Way!!!
I dont Even have the Words for IT, but for me personally, IT is PRICELESS! !


Well anyways, some bits and pieces about me (besides what's on my profil so far);
Arthur Henry Idland is my full name
Been With my girlfriend (Marte) for over 5 years.
We have a 1 year old Boston Terrier dog (Django)


My experience in trading: a couple of years learning the basics all together. So No experience at all, trading With real money.
Im still in a stage, where I am starting to get the pics of it all. With the help of which tools to use. But the hole picture is still blury for me. So what i NEED for myself, is to learn How to use the tools properly.
Im still trying to find my own Words in all of this. I know I still have a long Way to go.
So I think The best ting With this forum is that, it's easy for me to reach out to u guys If I NEED some guidance(hopefully).

That's what I have for u now, so again thanks everybody for letting me be a part of this


Artige Art

Reply With Quote
 
(login for full post details)
  #5179 (permalink)
JonVann
San Diego, California
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

Hey Mike!

I am an active service member in the US military and have a B.A. in International Studies. I have been looking into trading for a while and constantly look for ways to develop a sound strategy before I start trading with real money. I currently work in a job that takes any time I may have to trade, so as of now I spend a lot of time researching and planning for the time when I can start trading. I'm always excited to learn new tips and techniques from experienced traders. I'm even more excited to jump into this forum and see what i can learn!

Thanks a bunch!

Jon

Reply With Quote
 
(login for full post details)
  #5180 (permalink)
jopython
Ellicott City, MD
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

I am Joe. Noob trying to lean trading with paper money.

Reply With Quote
 
(login for full post details)
  #5181 (permalink)
Skala33
Brisbane, Qeensland, Australia
 
 
Posts: 1 since Aug 2014
Thanks: 4 given, 0 received

Hi everyone
Last four years of my life I have been walking on the rocky road of learning. I went through; Fibonacci, Elliott waves, MA, Divergences, Correlations…and so on like every beginner. Gained some knowledge I could share but I think you are far more advance here. But I still believe that I could be of benefit to this trading community. This is awesome side thanks to Mike and all of you guys
Glad to be here

Reply With Quote
 
(login for full post details)
  #5182 (permalink)
davetapson
Benoni, South Africa
 
 
Posts: 2 since Aug 2014
Thanks: 0 given, 0 received

Hi everyone

Beginner trader, still trading too undisciplined. This will be the last one tho' (famous last words.) Have bought a couple books and am taking the learning to heart.

About to stump up for Amibroker to start testing systems.

My aim is an automated trading system (keeps it disciplined and low on time input - in theory).

Regards
Dave

Reply With Quote
 
(login for full post details)
  #5183 (permalink)
 Aximas 
Munich Germany
 
Experience: None
Platform: NinjaTrader
Trading: oil
 
Posts: 1 since Aug 2014
Thanks: 1 given, 0 received

Hello I am new to this forum. I seek for a fellow traders with whom I can share ideas and thoughts. Currently I am trading crude oil futures.
Peace

Reply With Quote
 
(login for full post details)
  #5184 (permalink)
 mfbreakout 
BOSTON, MA
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,713 received


Aximas View Post
Hello I am new to this forum. I seek for a fellow traders with whom I can share ideas and thoughts. Currently I am trading crude oil futures.
Peace


Best way to connect with other traders is to start a trading journal. Once traders have a sense of your trading method/style like minded traders will reach out.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to mfbreakout for this post:
 
(login for full post details)
  #5185 (permalink)
dalamar
Abu Dhabi, UAE
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 1 received

Hi,

Just arrived to this forum looking for neural networks oriented trading systems, I've been trading for the last 20 years.

I've been working in trading desks of big investment banks as techie for the last 15 years, I've worked in London, New York, Tokyo etc... Now in middle east enjoying the beach the good weather and the tax free status.

I'm European but I lived abroad too long to consider from anywhere, I gathered enough capital to get retired soon probably in a remote place in Asia and I'll have plenty of time to shorten my trading timeframes.

I've been trading mostly on larger timeframes based on macro/fundamental signals with good results.

My expertise is on the technical side, programming neural networks and big data, I hope I'll be able to help and learn with you guys,

Cheers,

Dan

Reply With Quote
The following user says Thank You to dalamar for this post:
 
(login for full post details)
  #5186 (permalink)
Maese
London, United Kingdom
 
 
Posts: 1 since Aug 2014
Thanks: 0 given, 0 received

I am really glad to join this forum!
I only started developing my interest on trading a few months ago but I hope to get up to speed soon and be able to contribute with my findings.

thanks

Maese

Reply With Quote
 
(login for full post details)
  #5187 (permalink)
Nono
Manchester
 
 
Posts: 3 since Aug 2014
Thanks: 0 given, 1 received

Hi, I'm new to trading and finding it very exciting at the moment but have lots to learn, I'm from the UK which am now finding is a little trickier to trade as it seems I'm limited to spread betting and forex...so anyone who can offer suggestions about trading futures in UK would be a help.

Other than that...great support and great forum.

Mart

Reply With Quote
 
(login for full post details)
  #5188 (permalink)
 sawsheen 
Toronto Ontario Canada
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Stocks
 
Posts: 2 since Jun 2013
Thanks: 0 given, 0 received

Hello everyone
I've been trading for many years with mixed results. I focus on various types of option strategies.
I work part time, so can't trade much during the day.
I'm hoping to learn from other people's success and to share some of my experience..

best regards
sawsheen

Reply With Quote
 
(login for full post details)
  #5189 (permalink)
tcburton
Niagara Falls, New York USA
 
 
Posts: 1 since Mar 2014
Thanks: 6 given, 0 received

Hello everyone.

I have a full time desk job, but I've been trying to learn how to trade for the past four years or so in order to transition into something that I believe will be more interesting and enjoyable. I'm not consistently profitable, so I guess that means I'm still a beginner.

I learned the basics of trading by taking courses offered by Investools, but lacked the discipline to consistently follow the rules. Also, the option trading techniques taught by Investools involved a lot of complexity and were difficult for me to master.

I then tried gap fading techniques like those promoted by Scott Andrews of Master the Gap, but found that approach to be unsuited to my personality. I wanted to learn a more discretionary, "hands on" approach to trading.

After that, I spent some time learning how to trade using Ichimoku indicators because I read that they produced a high success rate. But before rolling out a trading strategy using Ichimoku indicators, I found Big Mike's Trading Forum and was exposed to price action trading. Price action trading seems to offer the "edge" that I have been looking for. So now, before spending real money, I am working very hard to learn as much as I can about price action trading and I am developing a trading plan that I intend to begin paper trading within the next few months. My intention is to use some of the price action scalping techniques taught by Bob Volman in my preferred market (the Emini S&P 500) while continuing to study the three book series by Al Brooks.

Thanks.

Reply With Quote
 
(login for full post details)
  #5190 (permalink)
Acquilae
Chicago IL
 
 
Posts: 3 since Aug 2014
Thanks: 2 given, 1 received

Hey everyone,

I've been investing since high school and have been active trading for the last two years. Like most traders, I dug myself a hole after thinking "hey I've done well investing and can take advantage of short term trading" so allocated some of my investment portfolio into a trading account. Through my first year, was down about 30%, made it all back through a very lucky UVXY short, and back down 25% taking chances on low probability trades and/or not cutting losses early. That forced me to hit the reset button and I slowly made my way out slowly before making a trading plan (inspired by Shadowtrader on TOS) and a quote from Tastytrade that "4 singles equals a home run" which kept me from trying to find/chase those 10-20+% trades all the time.

This year I've been able to finally make a small profit and started to learn and lightly trade futures, which are becoming my new favorite instrument as I'm below PDT. My trading style has mostly been entries though Fibonaccis, trendlines, and breakouts from consolidation but I'm getting more involved with futures.io (formerly BMT) to learn about using price action.

Reply With Quote
 
(login for full post details)
  #5191 (permalink)
 Geobet 
Boston, Massachusetts, USA
 
Experience: Intermediate
Platform: Ninjatrader
Trading: EUR/USD
 
Posts: 4 since Sep 2012
Thanks: 0 given, 5 received


Acquilae View Post
Hey everyone,

I've been investing since high school and have been active trading for the last two years. Like most traders, I dug myself a hole after thinking "hey I've done well investing and can take advantage of short term trading" so allocated some of my investment portfolio into a trading account. Through my first year, was down about 30%, made it all back through a very lucky UVXY short, and back down 25% taking chances on low probability trades and/or not cutting losses early. That forced me to hit the reset button and I slowly made my way out slowly before making a trading plan (inspired by Shadowtrader on TOS) and a quote from Tastytrade that "4 singles equals a home run" which kept me from trying to find/chase those 10-20+% trades all the time.

This year I've been able to finally make a small profit and started to learn and lightly trade futures, which are becoming my new favorite instrument as I'm below PDT. My trading style has mostly been entries though Fibonaccis, trendlines, and breakouts from consolidation but I'm getting more involved with futures.io (formerly BMT) to learn about using price action.

Check out Neenan's stuff on this site ! It will totally alter what you're currently doing if you haven't already discovered him.

Reply With Quote
The following user says Thank You to Geobet for this post:
 
(login for full post details)
  #5192 (permalink)
Acquilae
Chicago IL
 
 
Posts: 3 since Aug 2014
Thanks: 2 given, 1 received


Geobet View Post
Check out Neenan's stuff on this site ! It will totally alter what you're currently doing if you haven't already discovered him.

Thanks, will do.

Reply With Quote
 
(login for full post details)
  #5193 (permalink)
 Futures Operator 
New York, NY
 
Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker: Amp-Rithmic/TT, IB
Trading: CL, GC, NQ
 
Posts: 578 since Nov 2010
Thanks: 1,867 given, 251 received


wonkietonk View Post
Hey there, equities/futures trader from NYC. Been trading for just over a decade, primarily day and swing trading small cap stocks and day trading YM and TF. I've been shopping for a new broker to do my futures business and hope to get my post count to 10 soon so I can post in the Brokers forum

Welcome @wonkietonk , and anyone else from NYC, if you're interested in meeting other local traders here, feel free to post in this thread:

Follow me on Twitter Reply With Quote
 
(login for full post details)
  #5194 (permalink)
RichJamo
Cape Town, South Africa
 
 
Posts: 45 since Aug 2014
Thanks: 5 given, 64 received

Hi Mike, hi everyone,

My name is Richard, I'm 36, and I'm from Cape Town, South Africa.

I've had a varied career up to this point - working in corporate finance, politics, renewable energy, and now as a coach and facilitator in the training and leadership development space, mainly for corporates. I also have an interest in mindfulness, both as a practitioner and hopefully soon as a teacher. And finally I am fascinated by the potential of trading coaching, as well as bringing a coaching approach to financial advisory services.

I've always been fascinated by the markets, but only in the last year or so have started exploring the possibilities for trading in my own time. Fortunately my line of work allows me to do this, as I have quite a lot of spare / free time between jobs / assignments.

I've read a lot of books (Van Tharp, Mark Douglas, Jack Schwaeger, etc) and I've tried a number of platforms (so far Multicharts, metatrader, ninjatrader), as well as a range of instruments (mostly stocks, ETF's, CFD's and now index futures). Through trial and error I feel like I am making some kind of progress towards finding out what kinds of trading are possible for me, given the amount of capital I have and the hours I am able to / willing to spend in front of a screen, but also what suits my personality.

I dabbled a little bit with automated swing trading systems on metatrader, and still have a couple of these running live with a small ($400) account. However, I grew impatient with not being able to see results day-to-day, so I've now turned my focus to scalping ES intraday (usually just the morning session). I'm currently trying to implement a system that I have copied and adapted from a thread by jwdixon on this forum. So far some success using sim, and am now trying with real money. I still feel like I have a long way to go before I feel confident trading this instrument and timeframe.

Looking forward to interacting on the forum. I've looked at a number of different websites and forums and futures.io (formerly BMT) certainly seems to be a cut above most of the competition.

Richard

Reply With Quote
 
(login for full post details)
  #5195 (permalink)
JM Kent
Atlanta/ga/usa
 
 
Posts: 1 since May 2014
Thanks: 0 given, 0 received

Hello Everyone,

I traded Stocks some during the late 90s with little knowledge of what I was doing and lost money and gave it up. Years later I discovered Index Equity Futures . I started demo trading 2 years ago and have spent several hours a day in front of my screens trying do develop an edge and for the past 6 months I have been consistently profitable in demo mode. I wanted to prove myself there before I risked my hard earned money. I realize the psychological aspect of this will be the difference between success or failure when I go live.

I discovered the futures.io (formerly BMT) forum and was impressed with the quality of the site. I appreciate how the moderator keeps the posts relevant to the topic and I believe this environment offers the best possibility for serious individuals to learn from each other.

I am interested in learning more about price action trading with regard to the ES, TF, and YM and look forward to learning from you all.

Thanks.

Reply With Quote
 
(login for full post details)
  #5196 (permalink)
Samyb90
Sydney, Australia
 
 
Posts: 1 since Sep 2014
Thanks: 1 given, 0 received

Hey All!

First time to ever join a forum. As Mike stated, I find a lot of the time that they're just about proving a point or talking off topic completely.

I'm currently a student, in my final year of study, studying Quantitative Economics and Finance at the University of Wollongong Australia.

I've been trading since 18 (i'm currently 24), however, i've blown my account more times than i can count :-( i started off really well trading warrants about 2 years ago, but i got arrogant. Ever since i've been working on my arrogance (lol in all aspects of my life loll...trying to draw the fine line between confidence and arrogance)

I really hope i can learn a thing or two on here!! It's all been a learning experience so far, but i just want it to be less painful! lol

Looking forward to hear/read whats been said and share your opinions!

Cheers,
Sam

Reply With Quote
 
(login for full post details)
  #5197 (permalink)
 marketvoyager 
Florida
 
Experience: Beginner
Platform: NinjaTrader
Trading: ES
 
Posts: 110 since Sep 2014
Thanks: 60 given, 20 received

Hi, short story, I have tried participating on some markets unsuccessfully but have always wanted to get into the eminis pretty much since the beginning. In my opinion the US indexes seem to maintain the highest level of order and efficiency ratios while also being risky and tricky to learn. I have recently discovered market profile approaches and would like to learn about it so that hopefully I will trade the eminis successfully in the future using that line of approach.

Reply With Quote
 
(login for full post details)
  #5198 (permalink)
WickedDaddy
Austin, TX USA
 
 
Posts: 2 since Jul 2012
Thanks: 0 given, 0 received

Hello,

Signed up to this forum two years ago but only looked around and never contributed or visited again for the last couple years. I got into trading in the late 90's and had an easy time of it, making some windfalls and actually having only 1 losing trade out of 187 round trips. But I always felt I didn't really know what I was doing. I just followed charts with an EMA system I came up with and matched to MACD for my triggers (self taught playing around in ETrade). I traded options and typically held about a week - simple calls, buy low - sell high. Then my company took off and I found myself too busy to trade, lost interest.

Now I'm done with that type of working and want to trade full time, or at least whatever time it takes to generate a consistent, conservative income. As I get back in, I realize I know next to nothing and my old method doesn't work in this faster moving market anymore. I virtually traded it to find that out.

So I'm starting over with a small account, trading options and I'm very interested in weeklies with longer term protection in the form of spreads.

I hope to be a contributor in the future but for now, I'm overwhelmed with info and decisions.

All the best!

Reply With Quote
 
(login for full post details)
  #5199 (permalink)
jamesico
Chicago + IL/USA
 
 
Posts: 20 since Sep 2014
Thanks: 5 given, 12 received

out of job for four months now despite having the qualifications. have work, study and programming experience in trading ops and financial engineering and now seriously considering trading as a career, though i still secretly hope to secure a job offer soon than to take on the risk. waiting for approval of account opening and acquiring the trading platform, and see how it goes

Reply With Quote
 
(login for full post details)
  #5200 (permalink)
michael33496
Boca Raton, FL
 
 
Posts: 2 since Jun 2014
Thanks: 4 given, 3 received

Hello everyone,

I am excited to get involved with the futures.io (formerly BMT) commnity. I hope to both contribute and learn while here. I have a belief that in order to excel, it is beneficial to surround yourself with like-minded individuals at all skill levels. In interacting with those that are less experienced, I further my own knowledge by teaching others. On the flipside, interacting with individuals that have a higher skill level than my own pushes me to continuously improve and move outside of my comfort zone.

I have a passion for teaching as I tutor math to high school and college students part time. My professional background started out in the proprietary trading industry as a momentum trader in equities and ETFs. I currently work at a small quantitatively based investment management firm. My goal at the firm is to continuously improve the investment process using psychological, technological, and elite performance development principles.

Personally, I just recently moved back into short term trading after a three year transition into the investment industry. I am primarily operating in the S&P 500 eminis. I had a need to move into the futures markets to avoid compliance issues at the firm I am still with. While I spent a good deal of time studying the eminis market as a momentum trader, my specialty was in finding and trading in-play stocks that had a greater tendency to trend. This in part is making the transition to trading the index futures a little difficult as well as transitioning to a larger time frame in order to balance trading with my other work responsibilities. My goal is to move into trading multiple markets so that I can focus my energy in those markets that are offering the most opportunity for my skill set. I also hope to develop my skills so that at some point I may have the opportunity to manage a futures fund at the institutional level.

As far as my background, I have a finance and economics degree. I have a strong background in math and statistics. During my time as a prop trader, I developed coding skills in Python, VBA, and TradeStation's Easy Language. I continue to develop those skills in order to blend my discretionary trading with a quantitative element as well.

I believe that trading is an ongoing learning experience and I look forward to joining a group that shares this passion.

Reply With Quote
The following user says Thank You to michael33496 for this post:


futures io Trading Community Traders Hideout > Introduce yourself here!


Last Updated on May 17, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Our 12-year anniversary w/ $$,$$$ prizes (check soon)

June
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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