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beginning/aspiring trader from Germany. Stumbled upon futures.io because of their awesome webinar series with FT71. At this point in time chiefly interested in Forex. But with an eye to expand into Futures in the - future. Looking forward to many fruitful discussions.
See you around.
Can you help answer these questions from other members on NexusFi?
I one of those that came to (or is in the process of moving to) futures due to the recent FXCM whatever-you-call-it. I came across NinjaTrader8 and thought that was a great platform for automated trading, then stumbled on this forum. After reading threads and poking around, this seems pretty fantastic as far as trading communities go. I even plopped down the $100 for a membership.
I have been doing spot forex using MT4 forever, and I know how horrible that is but I started out on MT3 back in the day. I only trade as a supplement to regular income...not a pro/full-time trader. What I've learned is that psychology is the beginning and end of good trading. Making money is a lot easier than keeping it. I do automated system trading, with a touch of "discretionary exiting" as I like to call it. Entries are the easy part, exits are harder and sometimes I benefit from being that little hand nudging my systems in and out of danger. But it does bite me in the butt from time to time, of course. No doubt. And I've blown up an account or two as anyone whose actually traded has done.
I like spot fx because money management is little easier; futures contract can't be divided up. After psychology, money management is all that you need. My trading philosophy is: it's all about psychology and MM. But you really have to know your system in order to know what proper MM actually is. I think ppl fail at MM because they don't fully understand statistical odds in relation to their chosen system.
So I am here to learn futures and the NT8 platform. I really like spot otc markets, I am not in love with exchanges. But I am beginning to see the advantage of limit order books. I mean I would have loved to have seen the limit order book of FXCM when I was trading with them, but seeing the order book of the entire exchange is actually surprisingly nice. Much effort needs to be put into investigating this.
Davey and Kaufman are my fave authors, with Lefèvre being that soulful attaché to the more-technical books. Actually, seeing the ads for the webinars with Davey is what really sold me on this place. I would say that Lefèvre's classic is to trading what JE Gordon's book "Structure" is to engineering...which is apparently a fave of Elon Musk. Davey's and Kaufman's books are to trading what textbooks are to engineering.
I'm pretty good w C# and .NET as I've been a hobbyist coder since I was in high school; I'm not anything special but I'm okay. Just need to learn NT8. I'd actually like to learn R, too, but who has time for all that? I have dreams of transitioning into full time trading one day, but we will see how that goes. I am nowhere near ready for all that, plus I'm not ready to take a sabbatical from my job. Plus, once you go full-time, you become dependent on trading. I'm okay with not being dependent on trading but, instead, just having it there for me when I want it...if that makes any sense.
I also need historical data like you wouldn't believe (currencies, metals, and ES)...if anyone has suggestions please PM me. I plan to go with Kinetick after I setup a small NinjaBroker account but only 6 months of tick data and only 2 years of M1 data...I mean really, only 2 years? I also plan to draft some systems and try to "demo trade" them to see how the platform operates...what do you call demo trading in NT parlance?
I've only been seriously into trading for about a year----started out in equities and got pretty good at scripting indicators and backtesting. In that time I learned that technical analysis can only go so far, and equities are pretty unpredictable and you can't get any real diversification in them alone. This has brought me to futures, and more specifically to options on futures. In this arena I am a greenhorn. A colleague suggested futures.io to me and I'm very glad he did.
I treat going into a trade like doing a pre-flight check on airplane. When tempted to rush a pre-flight and just get in the air, and old adage reminds us: "It's better to be down here wishing you were up there, than to be up there wishing you were down here."
For my dive into futures options, I'm currently doing a very exhaustive pre-flight!
I must be the dumbest rock in the box. I am trying to introduce myself. Everywhere I click on introduce myself, I get nothing.LOL. Nowhere to post. (Introduce yourself here), click and nowhere to type...LOL..Killing me...
whammo
First post here. I have been a member of the forum since 2011 but was too busy trying to make it happen and never ended up participating in it.
I started trading Forex in 2009. After a couple of years of consistently loosing, and just as I was to give up, I met my trading mentor. With his patient guidance I switched to E-mini futures and after about a year of hard work I was finally trading profitable.
For the past 5 years I have traded E-mini ES and NQ futures for a profit.
I am looking forward to sharing with the community
My hardest part is getting rid of the fear. Been paper trading for few months now with good returns. no loss for few months now. but every time i go live its different and almost always end up losing. How do you get rid of the fear?
At the beginning it is normal to experience some fear while trading. The problem comes when this fear alters your decision making. There could be many reasons why you experience fear while trading with real money. I am not sure of your situation but below are some things to think about and some of the things that helped me at the begginig
* Are you trading with not enough capital and taking too many position risks
* Are you trading for accuracy (vs expectancy)? Do you feel you need to be right on each trade
* Is your entry location too aggressive? Stop too big, target too small?
* Do you have a daily plan with areas of good entries/targets
After taking care of the above if you still experience fear you could try breathing exercises or meditation. Before trading I didn't do any of these but now I do an hour a day of meditation and it has helped me a lot with my emotional states.
