What is your biggest trading challenge? - Traders Hideout | futures io social day trading
futures io futures trading


What is your biggest trading challenge?
Updated: Views / Replies:4,288 / 51
Created: by Big Mike Attachments:0

Welcome to futures io.

(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 Ė 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 donít 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.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

What is your biggest trading challenge?

  #31 (permalink)
Trading Apprentice
goa india
 
Futures Experience: Beginner
Platform: amibroker
Favorite Futures: stocks
 
Posts: 11 since Jun 2014
Thanks: 4 given, 3 received

Not following plan

Not following plan is my biggest problem! After hitting SL I think for my self next time no matter what happens I will follow the rules. And when the time comes to place a order I say come on my signal is just 1 rupee away, lets get in. And SL hits in spite praying to GOD

Reply With Quote
The following user says Thank You to umang for this post:
 
  #32 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,221 received

Praying in a trade is a sure sign of either trading too big or suffering from hopium, or both.

Sent from my LG Optimus G Pro

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.

Reply With Quote
The following 2 users say Thank You to Big Mike for this post:
 
  #33 (permalink)
Elite Member
Hanover, Germany
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Crude Oil
 
Scalpingtrader's Avatar
 
Posts: 1,440 since Apr 2014
Thanks: 1,734 given, 3,075 received



Big Mike View Post
Praying in a trade is a sure sign of either trading too big or suffering from hopium, or both.

First I would beg.
Second I would cursie & praise.
Now I urge.

Eventually I will wait.

And that is when I can finally say "I'm there."

------------------------------------------------

But even then we must always remember: "not to advance is to go back"

Reply With Quote
The following 2 users say Thank You to Scalpingtrader for this post:
 
  #34 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,221 received

I would love to hear from the people that said "not following plan". Can you be more specific as to what exactly you aren't doing, that is in your plan, but that isn't listed as a separate poll option?

Thx.

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.

Reply With Quote
 
  #35 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,221 received

I am surprised that as of now, the #1 result in the poll is "lack of funding". I didn't expect it to be the top reason.

I believe that most people that select this option are in the "learning" phase of trading, and are separately accumulating money so they can fund their trading account. Would you agree?

Or do you think people that select this option are talking about increasing their buying power, for example if they have a winning method today but lack the funds to exploit it to the full potential? I don't think that is the case, but curious to hear what you guys think.

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.

Reply With Quote
 
  #36 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
tturner86's Avatar
 
Posts: 5,784 since Sep 2013
Thanks: 9,848 given, 11,155 received
Forum Reputation: Legendary


Big Mike View Post
I am surprised that as of now, the #1 result in the poll is "lack of funding". I didn't expect it to be the top reason.

I believe that most people that select this option are in the "learning" phase of trading, and are separately accumulating money so they can fund their trading account. Would you agree?

Or do you think people that select this option are talking about increasing their buying power, for example if they have a winning method today but lack the funds to exploit it to the full potential? I don't think that is the case, but curious to hear what you guys think.

Mike

I believe it has to do with the $500 to $500,00 in a year dream that a lot of people have. Or that they think if they start with a larger account they can trade larger size and achieve that dream quicker.

Reply With Quote
 
  #37 (permalink)
Elite Member
Netherlands
 
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: 6E
 
Zwaen's Avatar
 
Posts: 247 since Dec 2010
Thanks: 762 given, 221 received

for me

almost "not following plan":
I had decided 2 exit points for a method:

1) stop trading when maximum expected drawdown *1.25 is reached. Take a pause and see how the next 10 trades would have developed and if the strategy picks up again decide for a new trail.

2) when the strategy doesn't produce profit x ( with modest goal) within timeframe y, continue trading until exitpoint 1 is reached, but start looking for other streams of income and consider the strategy as 'has lost it edge'.

Forcing returns from the market within a selfset timeframe is offcourse ridiculous, but I had to define exit points. What happened was that just before timeframe y ended and I was up the modest goal, I was afraid of pulling the trigger or looked to exit when the trade didn't move very fast. Afraid that losers would bring me under my profit goal. Luckily I managed to sit on my hands which had a very nice result, but it shows again what happens when you try to put external 'borders' on the market.

One of my worst enemies are my own false assumptions
Reply With Quote
 
  #38 (permalink)
Trading Apprentice
Akron, Ohio
 
Futures Experience: Beginner
Platform: TWS NT
Broker/Data: IB
Favorite Futures: Stocks
 
Posts: 7 since Jun 2014
Thanks: 11 given, 1 received


Big Mike View Post
I am surprised that as of now, the #1 result in the poll is "lack of funding". I didn't expect it to be the top reason.
Mike

I picked the option because I only put a small portion of trading capital into IB to make sure that I wanted to go with them. I'm basically limited to two longer term position trades until I'm fully funded. I should be up and doing some real trades on Wednesday. Once I've got the funds I will have to watch myself to make sure I don't enter positions just because I've got blocks of capital burning a hole in my account.


Big Mike View Post
I believe that most people that select this option are in the "learning" phase of trading, and are separately accumulating money so they can fund their trading account. Would you agree?

I didn't have trading at the forefront of my mind but I've been saving what I can for years in the hopes of one day working for myself. Once I realized trading is what I wanted to do I defiantly started viewing my job as a way to build my trading account. Even after I'm working with all my trading money I'll only be "dipping my toes" into day trading while focusing most of my money on swing and position trades that are based on both fundamental and technical factors. Before I get too heavy into day trading I'd like to have enough gains from slower moving trades to pay for my data, platform, trading computer and the money I will be day trading.


tturner86
I believe it has to do with the $500 to $500,00 in a year dream that a lot of people have. Or that they think if they start with a larger account they can trade larger size and achieve that dream quicker.

I can only speak for myself but I wanted enough to day trade and keep longer term positions.

I kinda wonder how many people who answered that are looking at a broker that charge ~$7-$10 per trade?

Reply With Quote
 
  #39 (permalink)
Hi Mom!
Bridgeport, Ct
 
Futures Experience: Intermediate
Platform: Sierra
Favorite Futures: Gold, Oil
 
TheShrike's Avatar
 
Posts: 365 since Jun 2012
Thanks: 1,027 given, 472 received

Mike,

Could you explain "Habit of Full Tilt" a little better? I'm not sure what that means in the context of the poll. I know Full Tilt is an online poker site, and I've heard the expression "going full tilt" or "going on tilt". Does it mean trading too big, or maybe revenge trading? Just not exactly sure what you mean for the poll. Thanks.

Reply With Quote
 
  #40 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,221 received



TheShrike View Post
Mike,

Could you explain "Habit of Full Tilt" a little better? I'm not sure what that means in the context of the poll. I know Full Tilt is an online poker site, and I've heard the expression "going full tilt" or "going on tilt". Does it mean trading too big, or maybe revenge trading? Just not exactly sure what you mean for the poll. Thanks.

Yes, just means you might do really well trading for months, but have a bad habit of going full tilt on one day or one trade that sets you back all of your profits over those months, and much more.

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.

Reply With Quote

Reply



futures io > > > What is your biggest trading challenge?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
March Challenge Trading Journal RedDotScott Trading Journals 9 February 2nd, 2013 08:24 AM
Strategy Coding Challenge MWinfrey NinjaTrader Programming 4 January 25th, 2011 06:12 PM
Trading challenge Zoethecus Traders Hideout 4 July 30th, 2010 04:23 AM


All times are GMT -4. The time now is 03:37 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, 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
Page generated 2017-12-13 in 0.14 seconds with 19 queries on phoenix via your IP 54.226.132.197