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Ready to begin again


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Ready to begin again

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  #1 (permalink)
Kankakee, Illinois
 
 
Posts: 1 since Mar 2018
Thanks: 1 given, 1 received

I am not new to trading, but I have been out of it since 2011. I initially learned about futures and commodity trading from a fellow named Ken Roberts in the late nineties. He sure made it sound easy. I read all of his literature, subscribed to a chart service and went on to lose my shirt!
Sometime in 2011 I went to the on line trading academy course. I learned a bit more about support, resistance, consolidation, risk management and discipline. I set up an account with Trade Station, started trading and lost again. I found myself getting too emotional, started chasing trades and discipline was out the window. I was convinced that I should not be a trader.
During the past year or so, I began following an instructor from Online Trading Academy on Twitter. Every evening he would put out a tweet as to what to watch for in the $ES during the next trading session. It seemed like he was doing a good job with that market. Thinking back to the days when I lacked discipline caused me to delay getting back in to the markets.
I recently renewed my account wit Trade Station. I have set up the platform and started trading using only the simulator. I am trying to trade as if I had money in the market. It is going to take a little more discipline, but I feel I am on my way. I know I have to minimize losses, but I also know I have to allow the market to move. So far trading on the simulator is profitable but I’m not quite ready to go to live trading. I want to be able to plan my trade and trade the plan. I still follow the instructors recommendations on Twitter and go to the charts to try and recognize where his entry points whether long or short are coming from. If I can recognize the setup on my own and confirm it with his tweets, I believe I’ll have a better chance of being profitable whe I go live.
Any comments, or constructive criticism or advice would be welcomed. I have always been the Lone Ranger with my trading so posting on a forum like this is totally new to me.
Bob

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  #3 (permalink)
Webinar Host
Indianoplace, IN
 
Experience: Intermediate
Platform: SierraChart
Broker: CQG
Trading: All Micros, especially the ones that move
 
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Welcome to FIO and congratulations on deciding to get back in, making your first post and sharing with the community. You'll find a lot of people willing to chime in and help here.

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  #4 (permalink)
 
 
Posts: 2,979 since Jul 2012
Thanks: 1,576 given, 5,906 received

Welcome! Just don't put too much faith in the results you get from Tradestation's simulator. It is definitely not intended to simulate real trading - at all. It is really appropriate only for testing automation.

Put it this way: there are tons of sim millionaires out there, but very few real money trading millionaires...

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  #5 (permalink)
Market Chamois
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
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Posts: 2,274 since Nov 2011
Thanks: 7,190 given, 4,413 received

Congrats my follow Illinoisan on jumping into FIO with both feet. This site is the surest instrument for your development, growth and maturation as a trader..... so happy for you!

I too started with Ken Roberts back when I had zero “extra” cash and my $800 acct evaporated pretty much instantaneous I with an OJ trade.

Boy I would get upset on days the mail carrier delivered my charts after 5pm..... lol. WOW have we come a long way from then huh.

Best of luck to you my friend. The absolute most important thing you can do right now to sure up your learning curve is post, post and post some more here on FIO. Might sound odd and some might not believe it but it is the truth. Trading is all about interacting with others (ultimately you buy/sell from people) so what better way to start than interacting with others right here?

Take care

Ron


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