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Is it Worth It!!!
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Is it Worth It!!!

  #61 (permalink)
MERIDIAN MS/USA
 
Trading Experience: Beginner
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Anagami View Post
You are welcome, brother.



Lastly, don't be shy to post on FIO about your journey. You can get lot of good feedback. If you are going to trade futures, this is the community to engage with.



Hey Anagami, Iím not sure what I should start off trading? I was looking into trading the futures because I was lead to believe thatís where beginners like me need to start of learning? Is this not true? If not where or what should a new beginner start off learning?

Thank you!


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  #62 (permalink)
SE Asia
 
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navionpilot View Post
Hey Anagami, Iím not sure what I should start off trading? I was looking into trading the futures because I was lead to believe thatís where beginners like me need to start of learning? Is this not true? If not where or what should a new beginner start off learning?

Thank you!


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You gotta understand there is no beginner market, no easy market to trade. If there were, then everyone would be trading it... and then it wouldn't be easy anymore.

There are, however, markets suited to particular strategies. So perhaps a better question to explore is how you want to trade... and then looking for a market suitable for that style of trading.

As you are interested in day trading, the futures are pretty good. Good leverage, reasonable commissions, daily trading opportunities, and good tax situation.

And of course, within the futures family, most contracts greatly differ from each other how they behave. Specifically for order flow trading, ZN, ZB, and ES are fine. They move slow enough so you can read them.

For Brooks style price action, any contract is fine... if you can make his method work. As another poster noted, I have never known anyone who has long term (i.e. years, not a few weeks or months). "Just take 2-legged pullbacks to moving average." Yah, if only. (You can code that strategy in NinjaTrade and see for yourself how it performs.)

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
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  #63 (permalink)
Legendary Guesser
Reading UK
 
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navionpilot View Post
While I thank each and every "Honest input" that each of you has laid out for me, I have yet to see anyone of you (except for a few) suggest anything to me on how a beginner like myself should start. If I wanted to learn it. It's like everything is negative about trading but yet everyone is doing it. Everything so far has just been "Its Hard" and "Good Luck". That's what I mean by "Negative". I would more than love to hear from an experienced trader say "Hey trading is Hard work. It can take years to learn but if you want to learn here is what you need to do. First, you need to know how to do this, Then you need to read this." That's the kind of information that I need to hear. Not "Its Hard, Good Luck"

What makes you such a special snowflake that you expect responses from experienced traders only? If you are new to this then how do you even know what information you need to hear? Think of this like a spec ops selection course, you first have to get through hell week before you will even be noticed by other traders.

Ill give you a starting point. Firstly, you will learn a lot quicker if you spend some time reading through the various forums.
Follow a few of the journals and get to know the various personalities.
When you ask for advice, try not to be vague (I am new at this where do I start Ė only advice from experienced traders please) but be specific and one question at a time. Try and provide encouragement to other traders and in return, they will encourage and help you.

Is it worth it? You have to start the journey to find that answer.

Best of luck.

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  #64 (permalink)
MERIDIAN MS/USA
 
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Grantx View Post
What makes you such a special snowflake that you expect responses from experienced traders only? If you are new to this then how do you even know what information you need to hear? Think of this like a spec ops selection course, you first have to get through hell week before you will even be noticed by other traders.

Ill give you a starting point. Firstly, you will learn a lot quicker if you spend some time reading through the various forums.
Follow a few of the journals and get to know the various personalities.
When you ask for advice, try not to be vague (I am new at this where do I start Ė only advice from experienced traders please) but be specific and one question at a time. Try and provide encouragement to other traders and in return, they will encourage and help you.

Is it worth it? You have to start the journey to find that answer.

Best of luck.

Well, i don't consider myself as a special snowflake. I consider myself as a beginner looks for advice and the way I was raised, is if someone is in need of help and you think you can help, then you should help. I believe there is a really old book out there that talks about that! It shouldn't matter what kind of person they are! Sorry if I made you mad asking for advice.

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  #65 (permalink)
Greenville,NC
 
Trading Experience: Intermediate
Platform: tradingview.com
Broker/Data: Tradovate,CQG
Favorite Futures: currency futures,lean hogs,es,cl,euro,soybeans
 
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navionpilot View Post
Hello Everyone!

I want to start off by letting everyone know that I am very very New at Day Trading actually I am in the very first stages of trying to learn how to Day Trade. I know nothing about it.

I came across this statement from the NO BS Day Trading website...

For Inexperienced traders
If you know absolutely nothing about trading, my first piece of advice for you is donít do it. The stories of million dollar traders are real. It can be done. But the amount of time, energy and money which is required to make it happen is substantial. You are not going to start printing Benjamins as fast as you think.


So my question for Everyone is this. I am an Inexperienced Trader and so I want to know if this statement is true. I ask this because for the last week I have been studying my butt off day and night. I probably have around 40 hours this week alone watching webinars, I bought the Al Brooks Training Course and I've been going through it and I'm starting to realize there will be months and months and months if not years of learning or trying to learn and at the end when finally I feel comfortable trading my own money I end up losing it all or that I'm so far into it now that I have to keep going because of all the time that I have invested in learning. I don't want to regret wasting all this time when I could have been spending time with my family or learning how to Sell on Amazon if you know what I mean.

I don't mind putting in the time it would take to learn if its worth it. I'm 39 years old and I'm at a point in my life where I want to learn something new that is fun and exciting. I want to do something that could possibly make me some really good money and so I figured I would try and get some advice from you guys and see if you had to do it all over again would you learn how to day trade and if not day trading then what would it be?

Thank you

You have Al Brooks course and he even said it took about 12 years to make money. Don`t have his video course but have his first book and use tradingview.com for demo charts to practice. And I still do even though i have a Broker. Because they have all the bells and whistles if you want all that stuff. And it is free but the data is only slightly delayed.
Would not trade with real money until you have a good understanding. Al Brooks has a very good understanding and has shared it with us. Do not be fooled into going the indicator and the log rhythm or the AI robots route,or learning a few candle stick patterns.

You will do much better learning it by reading and watching others trade. So that when you start trading and losing you will understand what happen. You will learn and you will make money. Connect with TradingwithRayner have never bought anything from him but he gives away so much free and useful advice.you must have Al Brooks weekly FREE newsletter. Listen to CFRN on Youtube every trading day. It is a hour long but worth it.i mostly listen to the recorded version so can scroll though it.I just like DeWayne personality could trust him holding my wallet.
Hope this helps



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  #66 (permalink)
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navionpilot View Post
Well, i don't consider myself as a special snowflake. I consider myself as a beginner looks for advice and the way I was raised, is if someone is in need of help and you think you can help, then you should help. I believe there is a really old book out there that talks about that! It shouldn't matter what kind of person they are! Sorry if I made you mad asking for advice.

LOL you didn't make him mad, he's just busting your balls

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  #67 (permalink)
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Rrrracer View Post
LOL you didn't make him mad, he's just busting your balls



I know! The new kids on the block always get messed with. I have to work my way up the ladder. Iíll get there hopefully!


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  #68 (permalink)
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navionpilot View Post
I know! The new kids on the block always get messed with. I have to work my way up the ladder. Iíll get there hopefully!


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Just for the record Iím calling it, are you edward40 reincarnated?

Jokes aside, my advice. In no particular order.

1. What personality type are you
2. What time do you have available
3. What funds do you have
4. What is your current skill set
5. What are your economic beliefs

Answering the above will get you to the starting line. From there you can tailor your learning to suit the race your going to run. No point training to be a sprinter if you want to run a marathon.

If you are totally committed I would recommend working at a prop firm or getting finding a mentor who is either ex prop or ex institution.

Ultimately this will shorten the curve but you will need to pay your dues in screen time and sweat.



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  #69 (permalink)
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rassi View Post
Just for the record Iím calling it, are you edward40 reincarnated?

More ball busting!

@rassi, how do you generate such poignant, relevant responses with so few words? Great stuff.

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  #70 (permalink)
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navionpilot View Post
I know! The new kids on the block always get messed with. I have to work my way up the ladder. I’ll get there hopefully!



Sorry, couldn't help myself.

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