NexusFi: Find Your Edge


Home Menu

 





Is it Worth It!!!


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one navionpilot with 27 posts (26 thanks)
    2. looks_two Rrrracer with 16 posts (41 thanks)
    3. looks_3 kevinkdog with 9 posts (44 thanks)
    4. looks_4 rintin2x with 6 posts (5 thanks)
      Best Posters
    1. looks_one Blash with 6.3 thanks per post
    2. looks_two kevinkdog with 4.9 thanks per post
    3. looks_3 Rrrracer with 2.6 thanks per post
    4. looks_4 navionpilot with 1 thanks per post
    1. trending_up 34,322 views
    2. thumb_up 263 thanks given
    3. group 25 followers
    1. forum 104 posts
    2. attach_file 7 attachments




 
Search this Thread

Is it Worth It!!!

  #41 (permalink)
 
xplorer's Avatar
 xplorer 
London UK
Site Moderator
 
Experience: Beginner
Platform: CQG
Broker: S5
Trading: Futures
Posts: 5,944 since Sep 2015
Thanks Given: 15,446
Thanks Received: 15,291


navionpilot View Post
I have yet to see anyone of you (except for a few) suggest anything to me on how a beginner like myself should start.

As amoeba said, there is no structured path.

This site's owner has a couple of tips on where to start


Quoting 
Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
Help using the forum? Watch this video to learn general tips on using the site.


Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
Exit Strategy
NinjaTrader
Deepmoney LLM
Elite Quantitative GenAI/LLM
Are there any eval firms that allow you to sink to your …
Traders Hideout
NexusFi Journal Challenge - April 2024
Feedback and Announcements
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
Battlestations: Show us your trading desks!
26 thanks
The Program
18 thanks
  #42 (permalink)
 
Tymbeline's Avatar
 Tymbeline 
Leeds UK
Market Wizard
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradovate
Trading: MES, MNQ
Frequency: Several times daily
Duration: Minutes
Posts: 644 since Apr 2015
Thanks Given: 2,342
Thanks Received: 1,054


navionpilot View Post
you have to learn on your own (Which I think is totally crazy since there are so many experienced traders out there that could show you how to succeed.) I mean if you want to be a Doctor the first place you go is to Collage. You don't go to youtube and learn on your own. It's just crazy to me.


To be fair, doctors "help everyone", and traders more or less help only themselves, so some difference in attitude is perhaps justified? (From me, that's a legitimately observed comment - being in both groups, myself.)

People in this forum are collectively far more helpful than anywhere else I've ever seen online, and your $100 for elite membership was a very good investment.

I offer one book recommendation: Profitability & Systematic Trading by Michael Harris (publ. Wiley) (not so much his other books, yet, perhaps). At some point, whether from that source or somewhere else - and there's plenty of choice - we all had to understand and learn what's in that book.

Reply With Quote
Thanked by:
  #43 (permalink)
 
paps's Avatar
 paps 
SF Bay Area + CA/US
 
Experience: None
Platform: TS, TOS, Ninja(Analytics)
Trading: NQ CL, ES when volatile mrkts
Posts: 1,739 since Oct 2011
Thanks Given: 2,176
Thanks Received: 1,726



rintin2x View Post
Dude, a successful trader don't want to share or teach you because that's their edge, imagine many people trading the same exact way as you do, how can you make money from it?

actually it's not that. If there is a Drive in one self to be the BEST trader there is...<< i firmly believe they will achieve it. you cannot be taught to trade...it has to come from within & coupled with knowledge, tenacity, great perseverance, sacrifice, no guarantees, self discipline, luck, determination, attitude to learn, humble, mentality who is not risk averse "means can take losses". these are just very few traits of some of the Best out there in the field. They normally have many more characteristics which is beyond scope.

if the above was not true..... you would find many from the academics field in the forefront of trading. Yes there are many from the academics side who have formed great HFs and are traders.....but not all academicians are traders though they understand micro structure and markets to the t.

In trading i believe one cannot get or take an edge unless its a holy grail indicator. in discretionary trading...You can be literally within a shout out from the worlds best traders spitting out their entry/exits....but one may still not be able to make it. THIS is a FACT.

also many people get into trading and look for indicators. I did that too. Ofcourse i use indicators....but now its with Market Micro-structure knowledge.

From what i have seen so far......the ones who make it.....put everything into it w/o any guarantees. And the ones who dont may not put that effort. Life itself has no guarantee "0".....why should trading be.

very few places will one get true good advice. one such place is fio. i think all the posts out here given by people are great. Only +ves...no -ves.

Reply With Quote
  #44 (permalink)
 
rintin2x's Avatar
 rintin2x 
salt lake utah
 
Experience: Beginner
Platform: Sierra Chart
Broker: CQG
Trading: ES
Posts: 542 since Jun 2016
Thanks Given: 634
Thanks Received: 542

@paps i know this is not the tread for it, but i do have interest on the knowledge on what you said market micro knowledge. I think I read somewhere here you were talking about it, but honestly I don’t quite get it. I’ll get back to you on that later for questions if you don’t mind. Thanks.

Reply With Quote
  #45 (permalink)
 
paps's Avatar
 paps 
SF Bay Area + CA/US
 
Experience: None
Platform: TS, TOS, Ninja(Analytics)
Trading: NQ CL, ES when volatile mrkts
Posts: 1,739 since Oct 2011
Thanks Given: 2,176
Thanks Received: 1,726


rintin2x View Post
@paps i know this is not the tread for it, but i do have interest on the knowledge on what you said market micro knowledge. I think I read somewhere here you were talking about it, but honestly I don’t quite get it. I’ll get back to you on that later for questions if you don’t mind. Thanks.

it's here

check point 1. Googled << And read it to understand every word. Thats what i meant. Having read countless of books...this finally formed my basis. A free book on the web. often overlooked

Reply With Quote
Thanked by:
  #46 (permalink)
 
rintin2x's Avatar
 rintin2x 
salt lake utah
 
Experience: Beginner
Platform: Sierra Chart
Broker: CQG
Trading: ES
Posts: 542 since Jun 2016
Thanks Given: 634
Thanks Received: 542

@paps thank you sir!

Reply With Quote
Thanked by:
  #47 (permalink)
 
Anagami's Avatar
 Anagami 
Cancun, Mexico
Legendary Market Hustler
 
Experience: Advanced
Trading: MES
Posts: 978 since Dec 2010
Thanks Given: 707
Thanks Received: 2,300


navionpilot View Post
Ok, I get what everyone is saying. So let's say after hearing all of this I still want to dive deeper into learning how to trade. With so many experienced traders on here, how would you lead me down the road of learning how to day trade? Where should a beginner start? I know that's a loaded question. Everyone has there own opinions but there have to be a few similar ideas that each experience trader would say. Their cant be that many different ideas on how to train a beginner.

Some questions that I have is

1. Which market should a beginner start out trying to learn first?
2. Which books or courses should a beginner start out with?
3. Who can a beginner trust to learn from?
4. What should a beginner start learning first?

5. How can a beginner find a mentor to learn from?
The reason I ask this is because if I had someone come to me and say, hey I really want to learn more about what you do. Would you teach me how to do what you do? I would be like sure I will teach you as long as you are willing to learn and do what I ask you to do. Before we start, go read this and go study that and Be ready to start at 8:00 am.

How come nobody does this? Is it because nobody wants to be liable?

Thanks

I did make 3 suggestions to you in my initial post:
1. turn off your charts.
2. burn your TA books.
and...
3. watch order flow.

Which market should you watch order flow on?
The thick and the 'slow', the treasuries (ZN / ZB).

What should you watch for?
You should watch for the intention (the # of orders sitting on different levels and being removed / added) vs. the actual execution (the market orders ripping into the levels). With order flow, you are looking at what is happening RIGHT NOW in the market, looking for signs of immediate strength / weakness.

Once you think you are getting a bit of a feel for what's going on, look for the edge (i.e. pick places where a level is about to go, so if you jump in, you will be sitting on a break-even trade). This is the most basic skill for order flow trading.

If you are looking for a mentor, get John Grady's basic order flow course. it's a great start. Take it from there. That alone should save you several years of wasted effort.

Is this the only approach? Certainly not. But it is the best one I found in the 10+years of trading.

You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
Reply With Quote
  #48 (permalink)
 navionpilot 
MERIDIAN MS/USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: Emini ES
Posts: 29 since Jan 2018
Thanks Given: 50
Thanks Received: 26

Thank you so much Anagami! I really appreciate all the great info here. I will definitely start looking into all of that.

Thank you!


Sent using the NexusFi mobile app

Started this thread Reply With Quote
Thanked by:
  #49 (permalink)
 
Rrrracer's Avatar
 Rrrracer 
On the road
Webinar Host
Trading Nomad
 
Experience: Intermediate
Platform: TradingView
Broker: Oanda
Trading: FX
Posts: 2,512 since Feb 2017
Thanks Given: 17,582
Thanks Received: 9,752


navionpilot View Post
Thank you so much Anagami! I really appreciate all the great info here. I will definitely start looking into all of that.

Thank you!

Don't be afraid to hit that little "Thanks" button down in the lower right corner, people appreciate it

There's an almost infinite number of ways to skin this cat... no "one size fits all" way of doing it, period. You need to explore them and figure which one best suits you, which one makes the most sense for you. Lots of great suggestions in this thread... I think you've struck a nerve

Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
  #50 (permalink)
 navionpilot 
MERIDIAN MS/USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: Emini ES
Posts: 29 since Jan 2018
Thanks Given: 50
Thanks Received: 26


Oh sorry. I didn’t know that. I will start. Thanks!


Sent using the NexusFi mobile app

Started this thread Reply With Quote




Last Updated on January 12, 2018


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts