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It has been a while since I've been in and around trading. Been through and still is in that bumpy road of constant learning. Everyday you come across something that you have noooo idea about, yet push on to learn and improve.
Crafting my own style and direction to be proficient in and I hope it will get me where I want.
Not sure if anyone is from Uzbekistan here in the forum, if not then you can see the extend of popularity of this incredible community.
Massive shoutout to Mike for his initiative and effort that he's been putting into this forum.
This forum must cost at least a grand for the value it offers, 100$ is a snip, trust me!
Anvar.
Can you help answer these questions from other members on NexusFi?
Just found this forum and joined. Wish I had found it 7 mos ago.
My background:
-Studied Business and Engineering as an undergrad and have an MBA.
-Have traded stocks since the late 90’s. Made some good $ but got killed in the internet bubble and the financial crisis of 2009.
-Laid off 7 mos ago. Due to a number of reasons I don’t have time to go in too, it will be extremely difficult getting another position doing what I was doing so my only REAL option, or at least what I see as the best option at this point is to become a day trader.
Here is my history:
-Decided to trade futures due to the leverage and tax advantages.
-Began watching just about every online video I could find, mostly the TD Ameritrade ones since I was already using them as a broker and they had hundreds of hours of them.
-Took the weekend OTA course. I figured what the heck for $300. Whether it’s worth it to spend the $25-$50k for all their advanced courses, I don’t know but it’s not a risk I wanted to take.
-Started off trading SIM for about a month, made a decent profit so decided to start trading live. Made a bit initially and then lost my butt. I was getting stopped out too much having narrow stops so I decided to try wider exits and stops, but then was still getting stopped out before my exit was reached. Then I tried no stops, that’s where I really got killed, thinking the direction had to reverse but of course it never did.
-Used about all the major indicators. Started off with BB, added MACD, Stoch, finally DMI with ADX, but realize I was too dependent on them and none of them were the answer.
-I went back to the SIM for about 2 mos and was doing pretty good with paper $ narrow exits and narrow stops making a lot of trades.
-Went back to live trading and was basically breaking even with narrow exits and narrow stops. In order to make $ I have been taking small profits and having a high success ratio. But in order to do this and keep from stopping out to much I had to set my stops wider than my exits and thus every time I stop out it erases my profit on 3-4 positive trades, I’ve basically broken even, actually down just a bit, over the last couple of months.
-I have been trading /CL, /TF, /GC, /NG and a tiny bit of /NQ. Since the beginning I’ve lost $ on everything but /TF, made a little bit on that. Since the 2nd time I went live I’ve made $ on /TF, made a tiny bit on /CL, lost on /NG and GC. No matter what I do I lose on /GC. I can watch it 10x and see 10x where if I had taken the trade I would have made $ and then when I finally do make a trade it does the opposite of projected and I lose. Maybe no more /GC for me at all.
-I’ve already read from some of the apparently successful people here are using wide exits and stops and only doing a couple of trades a day. Narrow exits and stop may be one of my 1st strategy errors.
Going forward:
-I have to make this work. Getting another good job will be next to impossible so it’s this or eventually homeless. I think I can learn a lot here and maybe it will be enough, I don’t know but I’m certainly willing to pay for good solid advice and training. I’m not willing to pay sharks who offer nothing and only want to take my $. As the old saying goes, “If they’re so good why aren’t they using their system to get rich rather than teaching”?
A couple of quick questions if I may:
-Reading some of the other threads I noticed some people don’t use stops. How do you deal with a situation such as this morning on NG? It turned downward at 6:45 and it looked like a good opportunity to short. At 7:30 it reversed and absolutely exploded up. With no stop a person would have been absolutely killed. How do you deal with this?
-After reading some of the threads there are terms, acronyms, etc. being used that I have absolutely no idea what they mean. Where is the best place to go to learn terms, acronyms, etc. that I don’t know.
Sorry of these are newbie questions but I’m only trying to learn and am willing to do pretty much anything to be successful because I simply just don’t have other options. I’m also certainly willing to help others with advice a strategies I know will be successful as I learn.
Hi Brandon. I've seen a lot of successful traders not using stoploss on there orders. That doesn't mean they don't have stops at all, most of them use mental stops. I'm getting more success not putting stops on my orders as long as you know your levels on your chart...just know where your supports and resistance are. You might want to check out https://www.sidewaysmarkets.com/ and watch there videos.
Thank you for accepting me into this group. I have traded and lost!
Trading is a lonely job. I feel relieved that I can express my hopes and frustrations on this forum and also learn from your thoughts, feelings and experiences............
Hey traders.
Glad to be part of this forum.
Im full time treader for about 2 years and i traded only DAX CFD.
Now I would like to make same changes and start to trade on DAX Futures .
Been (trying to be a successful) trader for 5+ years with limited profit. Past year and half been trading Options and made $ for the first time. I mainly trade Index Options and now wish to progress to Options on Futures (better leverage, tax benefits, longer trading window, etc).
I am glad to find this forum! My moniker derive from the 90-90-90 (90% of traders loose 90% of their money within 90 days) and not the negative (666) number, just want to clarify. When I started trading back in 2012 I fell right in that rule, by 2013 I made it all back before hitting another wall that led me to dig within myself and my strategy, I learned that there no secrete formula for trading (specially in futures) is all about your personality and how you manage your emotional capital.
I am not a full time trader, by profession I work in the farm industry hence my deep passion for the Futures Markets especially the softs sector. I do invest in stocks long term and trade forex.
Manly I trade spreads, intra-day and swing trading...
My markets; SB, KC, CC, CT, ES, DX, ZN, ZC, ZS, RB, QM
Main setup is EMA 8x50 on the 1hr, 4hr, Daily, WK, MO.
I do use volume profile on the wk and Mo just to see were
we might move but I love my seasonal data.
.
