I am in Desperate Need of A Mentor - futures io
futures io futures trading



I am in Desperate Need of A Mentor


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one Palais Brongniart with 2 posts (5 thanks)
    2. looks_two marin with 1 posts (2 thanks)
    3. looks_3 srgtroy with 1 posts (4 thanks)
    4. looks_4 N00bdayraider with 1 posts (4 thanks)
      Best Posters
    1. looks_one bmtrading9 with 6 thanks per post
    2. looks_two Bader with 4 thanks per post
    3. looks_3 srgtroy with 4 thanks per post
    4. looks_4 Palais Brongniart with 2.5 thanks per post
    1. trending_up 2,150 views
    2. thumb_up 27 thanks given
    3. group 7 followers
    1. forum 9 posts
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

(If you already have an account, login at the top of the page)

 
Search this Thread
 

I am in Desperate Need of A Mentor

(login for full post details)
  #1 (permalink)
Jersey City, NJ
 
 
Posts: 8 since Jul 2015
Thanks: 2 given, 6 received

I've been trying to trade since 2012, by "trying" I mean losing money or trading sim to no avail for that long. I started with Options, and right now my capital is split between options, forex, and futures -- with futures containing the majority of it.

After scouring the Internet for years, watching tons of video and doing tons of reading, I came across Wyckoff. I read his stuff multiple times, saw videos explaining it all, and it seemed to make sense. The major players buy on dips and sell on bulges, whereas the retail public does the opposite. With Wyckoff's method you're supposed to use price movement and volume to look at when a stock is accumulating and distributing. It all made sense to me as I learned it, but when I looked at stocks I couldn't read volume for the life of me. It was just a bunch of bars that made little sense to me. Sure, price made sense, but I couldn't tell if price was accumulating or distributing because I couldn't tell what volume was doing.

Doing more research I came across Alan Andrews and his median lines. This was something I liked because all it required was price -- no volume, no indicators, just price. I read his original material and I didn't really get it, but I came across Tim Morge. I watched and read A TON of Morge's stuff. He really knew how to explain things. I admit I didn't get all of it, but I felt like I got enough of it to apply it. Following price and plotting out a median line seemed simple enough. I'd find the three major pivots and saw price act how Andrews said it should.

But putting it all into practice is where the difficulty and frustration came. I'd plot a median line out and watch price. It would touch the center and that would be a signal to plan a trade. Then I'd wait for price to get to the parallel, look for a test with good separation, then execute my trade on the retest. Sometimes price would do what I expected it to do, sometimes price would blow through my stop, sometimes price wouldn't reach the parallel, and sometimes price wouldn't get a proper test/rest. Of course you're not going to get every trade right, but consecutive losing trades made me question myself. Did I really understand these methods?

So I studied some more and tried narrowing down my scope, focusing on something simple instead of being all over the place. My plan is to daytrade QM (while charting CL), ES, YM, and NQ. And I'm debating about whether I should trade currency futures or not, but when I do try to trade them I get burned for some reason. I'm also planning on trading options for longer term plays (holding for a few days or weeks) because I can't afford the stop for holding a currency future -- meaning I can't risk the same amount in a longer term move or else I'll get easily stopped out.

The thing is that every day there won't be a trade, I understand that, but I'm still questioning and second-guessing myself. One thing I do every night is look back at the chart, replot median lines, and see what I missed -- this definitely infuriates me. Maybe I shouldn't do this, maybe I should accept that I can't stare at the charts 24/7 (and I can't because I work nights and have other things to do in life). Still, it makes me wonder if I'm doing this right or not.

This is why I say I desperately need a mentor, someone to show me whether I'm doing this correctly or not. Right now I'm only trading sim and I will continue to trade sim until I feel like I've grasped this. However, it still feels like I'm in sink/swim mode and I'm not doing anything. It's like learning a martial art by reading books and watching movies. Maybe you'll get it, maybe not, but you won't know until you're in a real fight. However, when you're taught that martial art by an instructor you'll truly learn. You'll see what works for you and what doesn't. And you'll know what to apply in a real fight thanks to the instructor.

Some people are gifted enough to read and watch the material to pick trading up, and I accept the possibility that I'm not one of those people. Tim Morge was lucky enough to be taught by Alan Andrews, and I think Alan Andrews was taught as well before he came up with median lines. I'll never be as great of a trader as those men, and if they needed mentors I most likely do as well.

Reply With Quote
The following 4 users say Thank You to N00bdayraider for this post:

Journal Challenge February 2021 results (so far):
Competing for $1500 in prizes from Topstep
looks_oneSBtrader82 's Trading Journalby SBtrader82
(151 thanks from 28 posts)
looks_twoJust BEING a Trader: Letting Go!!by iqgod
(106 thanks from 27 posts)
looks_3Wisdom is Emptinessby Mtype
(66 thanks from 24 posts)
looks_4Deetee’s DAX Trading Journal (time based)by Deetee
(31 thanks from 15 posts)
looks_5Journal for peanuts1956by peanuts1956
(23 thanks from 13 posts)
 
 
(login for full post details)
  #3 (permalink)
Legendary Market Wizard
Los Angeles, California Republic
 
Experience: None
Platform: Sierra Chart
Broker: CQG
Trading: ES
 
srgtroy's Avatar
 
Posts: 1,936 since Jan 2011
Thanks: 1,375 given, 3,714 received


Consider the following site:

Lizard Trader

I am not affiliated with them in any way, but I think they have a nice, logical and simple approach with which to really form a base. The co-owner created many indicators for this site and his reputation is unblemished. They have a nice little free mini course to get you going.

Just a suggestion. No guarantees.

p.s. -- another suggestion is that you drop the options trading for now. That's for more advanced traders. Start with either Futures or Forex. Choose one and get it down.

Reply With Quote
The following 4 users say Thank You to srgtroy for this post:
 
(login for full post details)
  #4 (permalink)
Switzerland
 
Experience: Advanced
Platform: NinjaTrader
Broker: Dorman
Trading: Currency Futures, ES
 
mk77ch's Avatar
 
Posts: 85 since Oct 2010
Thanks: 14 given, 78 received

i think a good way would be to go with this guy:

YourTradingCoach | Because You'd Rather Be Trading For A Living!

I never lose. I either win or learn.
Nelson Mandela
Reply With Quote
The following 2 users say Thank You to mk77ch for this post:
 
(login for full post details)
  #5 (permalink)
Sydney
 
Experience: Intermediate
Platform: Sierra chart
Trading: Crude
 
Posts: 7 since May 2016
Thanks: 10 given, 13 received

IMO, start a journal on here and ask members to critique your trading. Post up your charts and ask for feedback. Sometimes another set of eyes looking at your trading is all you need to turn that corner.

Reply With Quote
The following 4 users say Thank You to Bader for this post:
 
(login for full post details)
  #6 (permalink)
Sonoma, CA, USA
 
 
Posts: 44 since Aug 2010

Learn how to finger rub dowse...then you can ask your questions in any area and get a correct yes or no answer...

Here is a link on this...scroll down for description on finger rub dowse...
Deviceless Dowsing Archives | Discovering Dowsing

Take a look at The Divining Hand by Christopher Bird...a superb book on dowsing....why and how it works....discusses finger rub dowsing too...

Reply With Quote
 
(login for full post details)
  #7 (permalink)
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,834 since Mar 2013
Thanks: 3,000 given, 2,153 received

Just follow these threads, if you haven't done it already...no one can help you except you and only your brain...good luck








Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 6 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #8 (permalink)
Paris France + Dresden Germany
 
Experience: Advanced
Platform: Proprietary
 
Palais Brongniart's Avatar
 
Posts: 183 since Mar 2018
Thanks: 41 given, 199 received


N00bdayraider View Post
I've been trying to trade since 2012, by "trying" I mean losing money or trading sim to no avail for that long. I started with Options, and right now my capital is split between options, forex, and futures -- with futures containing the majority of it.

After scouring the Internet for years, watching tons of video and doing tons of reading, I came across Wyckoff. I read his stuff multiple times, saw videos explaining it all, and it seemed to make sense. The major players buy on dips and sell on bulges, whereas the retail public does the opposite. With Wyckoff's method you're supposed to use price movement and volume to look at when a stock is accumulating and distributing. It all made sense to me as I learned it, but when I looked at stocks I couldn't read volume for the life of me. It was just a bunch of bars that made little sense to me. Sure, price made sense, but I couldn't tell if price was accumulating or distributing because I couldn't tell what volume was doing.

Doing more research I came across Alan Andrews and his median lines. This was something I liked because all it required was price -- no volume, no indicators, just price. I read his original material and I didn't really get it, but I came across Tim Morge. I watched and read A TON of Morge's stuff. He really knew how to explain things. I admit I didn't get all of it, but I felt like I got enough of it to apply it. Following price and plotting out a median line seemed simple enough. I'd find the three major pivots and saw price act how Andrews said it should.

But putting it all into practice is where the difficulty and frustration came. I'd plot a median line out and watch price. It would touch the center and that would be a signal to plan a trade. Then I'd wait for price to get to the parallel, look for a test with good separation, then execute my trade on the retest. Sometimes price would do what I expected it to do, sometimes price would blow through my stop, sometimes price wouldn't reach the parallel, and sometimes price wouldn't get a proper test/rest. Of course you're not going to get every trade right, but consecutive losing trades made me question myself. Did I really understand these methods?

So I studied some more and tried narrowing down my scope, focusing on something simple instead of being all over the place. My plan is to daytrade QM (while charting CL), ES, YM, and NQ. And I'm debating about whether I should trade currency futures or not, but when I do try to trade them I get burned for some reason. I'm also planning on trading options for longer term plays (holding for a few days or weeks) because I can't afford the stop for holding a currency future -- meaning I can't risk the same amount in a longer term move or else I'll get easily stopped out.

The thing is that every day there won't be a trade, I understand that, but I'm still questioning and second-guessing myself. One thing I do every night is look back at the chart, replot median lines, and see what I missed -- this definitely infuriates me. Maybe I shouldn't do this, maybe I should accept that I can't stare at the charts 24/7 (and I can't because I work nights and have other things to do in life). Still, it makes me wonder if I'm doing this right or not.

This is why I say I desperately need a mentor, someone to show me whether I'm doing this correctly or not. Right now I'm only trading sim and I will continue to trade sim until I feel like I've grasped this. However, it still feels like I'm in sink/swim mode and I'm not doing anything. It's like learning a martial art by reading books and watching movies. Maybe you'll get it, maybe not, but you won't know until you're in a real fight. However, when you're taught that martial art by an instructor you'll truly learn. You'll see what works for you and what doesn't. And you'll know what to apply in a real fight thanks to the instructor.

Some people are gifted enough to read and watch the material to pick trading up, and I accept the possibility that I'm not one of those people. Tim Morge was lucky enough to be taught by Alan Andrews, and I think Alan Andrews was taught as well before he came up with median lines. I'll never be as great of a trader as those men, and if they needed mentors I most likely do as well.

Before you pay any money to Timothy Morge, consider this thread pls.:

https://www.elitetrader.com/et/threads/tim-morge-and-the-well-chosen-example.305061/page-23

I don't explain my charts. If you like to follow my trades, look for these lines.
Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to Palais Brongniart for this post:
 
(login for full post details)
  #9 (permalink)
Paris France + Dresden Germany
 
Experience: Advanced
Platform: Proprietary
 
Palais Brongniart's Avatar
 
Posts: 183 since Mar 2018
Thanks: 41 given, 199 received

https://www.elitetrader.com/et/threads/trading-with-without-a-mentor.333962/page-6

I don't explain my charts. If you like to follow my trades, look for these lines.
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Palais Brongniart for this post:
 
(login for full post details)
  #10 (permalink)
Naples FLA
 
Experience: Beginner
Platform: Ninja Trader 8
Broker: NinjaTrader
Trading: Currency Futures, RTY, ES, NQ
 
Oriole's Avatar
 
Posts: 87 since Dec 2019
Thanks: 194 given, 58 received


I need a fresh education start and want to say thanks for the 2 suggestions. Wondering if the Jigsaw Daytrader platform is a worthwhile expense at around $597? It’s all based on order flow and has some starter education. Thank You.

Reply With Quote


futures io Trading Community Traders Hideout > I am in Desperate Need of A Mentor


Last Updated on February 1, 2020


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Journal Challenge w/$1500 prizes from Topstep!

February
 

Identifying Setups & Targets Using Profile Charts w/Trevor & Tradovate

Feb 25
 

Battlestations! Show us your trading desk - $1,500 in prizes!

March
     



Copyright © 2021 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