(If you already have an account, login at the top of the page)
futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.
At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.
With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.
We are fundamentally different than most other trading sites:
We are here to help. Just let us know what you need.
We work extremely hard to keep things positive in our community.
We do not tolerate rude behavior, trolling, or vendors advertising in posts.
We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
We expect our members to participate and become a part of the community. Help yourself by helping others.
You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple.
I'm very new at trading. In fact so new that I'm about to join a trading company but I have to give a contribution. The reason being is because I feel like I need someone to hold my hands in the learning curve.
Anyway, I been doing simulation and realize is it all about chart patterns when it comes to picking. I read about volume and open interest but it's all about charting . Wondering if people just rely on chart patterns ? And I think that the only way to really understand chart patterns is to look at it for hours and hours.
Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following user says Thank You to Big Mike for this post:
No (in my opinion). Tradition chart patterns are an out of date method to trade the markets. I encourage you to read the book "Evidence Based Technical Analysis" by David Aronson, it will clearly demonstrate the point.
In simple terms, forget traditional patterns like "head and shoulders" and instead focus simply on price action, support/resistance (often called PASR) and auction theory (why the market trades at certain levels).
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following 7 users say Thank You to Big Mike for this post:
My take on your question is different than Mike. I do believe it's all about pattern recognition otherwise the markets would be similar to a game of roulette, total chaos or purely random.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following 5 users say Thank You to Big Mike for this post:
above patterns do occur but all in context around other key areas, u have to trade all your tools together to trade patterns,. Do not trade patterns alone or u will pay
The following 2 users say Thank You to Rad4633 for this post:
In either case, if you love chart patterns, then Suri Duddella is your guy. He's done a few webinars on futures.io (formerly BMT), check them out. He also has another one coming up March 11th.
Mike
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following user says Thank You to Big Mike for this post:
This is basically my approach. I don't use any moving averages or technical analysis. I use basic retracements, support/resistance, and directional volatility. Breakouts (both downward/upward) are also a recurring pattern.
I personally don't use trend lines or even bother trying to figure out whether a market is trending. Well, all I trade is crude oil which is maybe a "lesser" candidate for "trending." But anyway, my approach is to optimize strategy whether the market trends or is ranging, because obviously I don't want to be blindsided on a method that only works in one or the other.
The following 2 users say Thank You to mwtzzz for this post:
BTW, I should clarify --- pretty much every "indicator" in trading is a 50/50 shot. Whether it is MACD, CCI, double top, head and shoulders, whatever.
What improves those odds is context. What is happening around the area. Price action. Support/Resistance. Value. It's your interpretation of all these things that will make/break you as a trader.
Suri Duddella has written the bible on chart patterns and he trades them like a mad man. But he'll also tell you "context is king" which is why he visually looks at his charts after he gets alerts on patterns, instead of blindly taking them. I think he said he'll look at 100 charts to take 2-3 trades.
Mike
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following 3 users say Thank You to Big Mike for this post: