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I would say submerse yourself in the money management side. Know the "Trader's Equation" as Al Brooks puts it as this is necessary no matter what style of trading you do.
Alot of new traders try to learn to predict. No one can predict! Period. The closest we can get is identifing areas where we can structure a trade so if we took that same-ish trade 1000 times we'd likely have a positive number.
The problem is theres no way of knowing WHEN and WHERE those winners and losers are going to be... its a distribution.
So understand to win you need more money in the account then when you started with and the only way to do that is to either have winners that are MUCH larger than your losses or you have a HIGH winning rate (very hard to do)
I know thats not specific but if your new read this book.
There are NO charts. No strategies. But IT IS about trading and it's the best footing you'll ever get no matter where you are because eventually you'll find out YOU ARE the market.
You are the soul decision making trading entity that will decide whether or not you have what it takes... and it ain't technicals... those are EASILY learnt.
If I can answer any questions fire away. If I don't know I'll say. And know one knows it all.
I'm not a trend follower but I'm curious. Do you mean true trend following as in millions of dollars spread out over many assets? Or do you mean riding a trend?
If you mean true trend following "Michael Covel" in my mind is one of the best and he has endless content... books, videos, course ect.
If you are talking trend trading might need more specifics.
Yes on both. Michael Covel type trend following is very successful longterm and I assume the same trend indicators are used but for long term. I have multiple methods right now, bur I am looking for others inputs on strategies they use. It is always helpful to keep an open mind towards others finding if they are kind enough to share. Riding a trend is very important but to identify it with technical indicators is what I'm searching for.
Aiming to be medium to long term trend follower trading stocks, etfs and futures in a Roth. Have traded stocks, etfs and options on and off for over 30 years but never with any real risk control. Been studying and reading and watching. Never traded futures so most deficient in that area. Hoping to get useful insights and start trading with appropriate risk control and position sizing.
There are much smarter people on here than me so I'll let them take over but "trend riding" and "trend following" are totally different.
With trend riding you are looking to catch short term trends and take what you can out of them.
Trend following is not even worth barking up that tree unless you have a BARE MINIMUM of $100,000. You are using diversification as your edge to find the outliers that will pay for all the others. And as simple as it might seem I'm sure it's not.
Hi All, Call me DJ been trading for a long time but past 5-6 years I focused only on long-term investment. Now back in the game for day trading.
The target is to play 5-10 points on /MES and /ES nothing crazy.
Just like many I also blew my accounts few times but now much more focused with time frame, and daily swings. I hope tp learn from you all and share my trades track record.
Thank you for allowing me to participate. I have been learning to trade futures for two years, and four since I was introduced to the markets. My progress has been slow and painful. I have had some success but also some downs. I have blown several accounts and also funding tests. I am hopeful that this community will help me. I would like to meet successful traders and learn from them.
