Looking for a Mentor/Guidance and General Advice - futures io
futures io futures trading



Looking for a Mentor/Guidance and General Advice


Discussion in Traders Hideout

Updated by martinhunting
      Top Posters
    1. looks_one cmac with 19 posts (26 thanks)
    2. looks_two CookieMonsta with 12 posts (24 thanks)
    3. looks_3 3lliot with 4 posts (13 thanks)
    4. looks_4 Minds with 3 posts (5 thanks)
      Best Posters
    1. looks_one xplorer with 11.5 thanks per post
    2. looks_two MiniP with 7.7 thanks per post
    3. looks_3 CookieMonsta with 2.0 thanks per post
    4. looks_4 cmac with 1.4 thanks per post
    1. trending_up 10,319 views
    2. thumb_up 258 thanks given
    3. group 49 followers
    1. forum 89 replies
    2. attach_file 4 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 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
 

Looking for a Mentor/Guidance and General Advice

(login for full post details)
  #61 (permalink)
chicago, illinois
 
 
Posts: 25 since Oct 2010
Thanks: 55 given, 29 received


3lliot View Post
Forex CFDs give you DOM & T&S.

But yes, order flow is only really useful for intraday trading.

Do you have any examples you'd be willing to share on how you use order flow to trade? Just curious how you use it since a lot of other people have said it's not something they use. Thanks

Reply With Quote

Can you help answer these questions
from other members on futures io?
Using Built In Volume Profile in the Code
NinjaTrader
IB Bracker Order
Platforms and Indicators
MT4 Switch All Charts 1 click
Platforms and Indicators
T​​​​​​radestation datafeed (real time and historical) to NT8
NinjaTrader
Webinar: Linda Bradford Raschke Dealing with August burnout and Trader Camaraderie
The Elite Circle
 
 
(login for full post details)
  #62 (permalink)
chicago, illinois
 
 
Posts: 25 since Oct 2010
Thanks: 55 given, 29 received


djmclean View Post
Yes I used them for about 6 months at $200 a month and it has made a big difference in my trading. I never used Tim there, as there is a cheaper guy Shane whom I think is really good. He does the video I attached earlier. The light bulb went off in my head when I see how he teaches the market. I watched Tim Morge in a few videos from the interactive broker web site and he only mentions his career winning average is 60%.

Adding indicators to my charts just confuses me, I find reading price much easier.

There is another one "Trade The Plan" but I believe 5K is required to purchase the software.

Cool, thanks for the info. I'll watch that video and give it another think and maybe check it out in more detail this time.

Reply With Quote
 
(login for full post details)
  #63 (permalink)
Singapore
 
Experience: None
Platform: MetaTrader 4
Trading: Spot Forex
 
Posts: 66 since Dec 2018
Thanks: 3 given, 56 received



cmac View Post
Interesting stuff, I've known EU is usually inverse of USDCHF but I've never really looked into too much. From your earlier post about London open I know it's the best time with the most activity. I just can't be awake then and then be alive at work later in the day. That's another reason I started to look at futures, I could trade around the open and a little after before having to go to work. Thanks again for your posts and giving me something to look at.

Well, it depends on what you intend to trade, most Forex brokers do offer CFD for indices but it just depends on what your needs are.

Well the correlation is because of the USD leg in the pair as well as their trade correlation. So the correlations are not hard correlations, just it's a result of how the global economy is functioning.

Hmm to be honest, unless you can get a solid 4hours in, day trading may not be for you. You might want to look at something longer maybe like h4 where you can afford to just look away for 4hours at a time.

Alternatively options are pretty good if you learn to use them well. Since there is already theoretical edge.

Reply With Quote
The following user says Thank You to CookieMonsta for this post:
 
(login for full post details)
  #64 (permalink)
chicago, illinois
 
 
Posts: 25 since Oct 2010
Thanks: 55 given, 29 received


CookieMonsta View Post
Well, it depends on what you intend to trade, most Forex brokers do offer CFD for indices but it just depends on what your needs are.

Well the correlation is because of the USD leg in the pair as well as their trade correlation. So the correlations are not hard correlations, just it's a result of how the global economy is functioning.

Hmm to be honest, unless you can get a solid 4hours in, day trading may not be for you. You might want to look at something longer maybe like h4 where you can afford to just look away for 4hours at a time.

Alternatively options are pretty good if you learn to use them well. Since there is already theoretical edge.

The only real time I can trade for a few hours straight is at night during the asia sessions when the market is pretty dead. My plan was to try and watch some lower time frame charts in the morning before work and also see if I see any trades on the higher time frames and set up a limit order. That's the plan for now but we'll see what happens.

Reply With Quote
 
(login for full post details)
  #65 (permalink)
Singapore
 
Experience: None
Platform: MetaTrader 4
Trading: Spot Forex
 
Posts: 66 since Dec 2018
Thanks: 3 given, 56 received


cmac View Post
The only real time I can trade for a few hours straight is at night during the asia sessions when the market is pretty dead. My plan was to try and watch some lower time frame charts in the morning before work and also see if I see any trades on the higher time frames and set up a limit order. That's the plan for now but we'll see what happens.

Well, usdjpy has some good opportunities during Asia. It's tradable thought slightly more choppy.

Reply With Quote
The following user says Thank You to CookieMonsta for this post:
 
(login for full post details)
  #66 (permalink)
Legendary Embracer of Uncertainty
Indianoplace, IN
 
Experience: Intermediate
Platform: SierraChart
Broker: CQG
Trading: All Micros, especially the ones that move
 
Rrrracer's Avatar
 
Posts: 2,181 since Feb 2017
Thanks: 14,590 given, 8,114 received


CookieMonsta View Post
Well, usdjpy has some good opportunities during Asia. It's tradable thought slightly more choppy.


Agree, ya beat me to it I'd focus on this pair for the Asian session.

Most of the other futures currency pairs are pretty dead during Asia; a typical EUR/USD Asian session consists of about 10-20 ticks of movement. That said, it usually moves well during both London and New York sessions so opportunities are there to be had.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to Rrrracer for this post:
 
(login for full post details)
  #67 (permalink)
PERU/CALLAO
 
Experience: Advanced
Platform: Various
Broker: Various - (MC, CQG, IQFeed, IB)
Trading: US Futures and Equities, US Options, ETFs, Commodities, EUR/USD
 
Minds's Avatar
 
Posts: 82 since May 2013
Thanks: 56 given, 33 received

#3 is like a vendor...

Do you have the data on the number or traders vs the number of vendors?

The main diff between 1 and 4 is that in 1 you can use 3rd party strategies, which can hurt you own learning curve ...




cmac View Post
I'm a little confused on what the difference is between a couple of your points. My main goal is to become a full time trader. Becoming profitable and consistent is the obvious goal, it doesn't necessarily have to be with my own strategies. If I find something that some one else has created and it works for me I have no problem using it. I guess the answer to your question is a mix of 1 and 4. I'm not really sure what point 3 is saying. Thanks


Reply With Quote
The following user says Thank You to Minds for this post:
 
(login for full post details)
  #68 (permalink)
chicago, illinois
 
 
Posts: 25 since Oct 2010
Thanks: 55 given, 29 received


Minds View Post
#3 is like a vendor...

Do you have the data on the number or traders vs the number of vendors?

The main diff between 1 and 4 is that in 1 you can use 3rd party strategies, which can hurt you own learning curve ...

Ahh now I understand. I guess the ultimate goal is point 4 but using point 1 to get started I think would be good. No interest in being a vendor or anything like that. I guess point 2 is also interesting but you didn't mention consistency or profitability in that option so I didn't choose that one.

Reply With Quote
 
(login for full post details)
  #69 (permalink)
Singapore
 
Experience: None
Platform: MetaTrader 4
Trading: Spot Forex
 
Posts: 66 since Dec 2018
Thanks: 3 given, 56 received


Rrrracer View Post
Agree, ya beat me to it I'd focus on this pair for the Asian session.

Most of the other futures currency pairs are pretty dead during Asia; a typical EUR/USD Asian session consists of about 10-20 ticks of movement. That said, it usually moves well during both London and New York sessions so opportunities are there to be had.

yep, well, if you don't mind something more volatile trying gbpjpy might work too.

Reply With Quote
The following 2 users say Thank You to CookieMonsta for this post:
 
(login for full post details)
  #70 (permalink)
miami,florida
 
 
Posts: 28 since Feb 2019
Thanks: 4 given, 34 received


Consider yourself very lucky to not lose money in the jungle of scammers out there. Here my short list of some of them: Cyber Trading University (Fausto Pugliesse) , TradeGuider (Gavin Holmes). Stay away from Online Trading Academy just because they are SUPER expensive. Some places for you to get some free education on Order Flow. Mike Valtos Orderflow.com. Sean Kozak neurostreet.com . Chris Knox zonetraderpro.com. DO NOT BUY ANYTHING ANYWHERE UNDER MY ADVICE . I just go there from time to time to get free education. General rule if the moderator does not take live trades nor shows a broker statement , that's a huge red flag.

Good luck .
Keep me posted

Reply With Quote
The following 3 users say Thank You to ELche for this post:


futures io Trading Community Traders Hideout > Looking for a Mentor/Guidance and General Advice


November 9, 2019


Upcoming Webinars and Events
 

Dealing with burnout w/Linda Bradford Raschke

Elite only
     



Copyright © 2020 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