How was your path of becoming profitable - futures io
futures io



How was your path of becoming profitable


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one Massive l with 7 posts (14 thanks)
    2. looks_two michael94 with 4 posts (8 thanks)
    3. looks_3 kareem40 with 3 posts (10 thanks)
    4. looks_4 xplorer with 2 posts (6 thanks)
      Best Posters
    1. looks_one TraderDoc007 with 8 thanks per post
    2. looks_two kareem40 with 3.3 thanks per post
    3. looks_3 Massive l with 2 thanks per post
    4. looks_4 michael94 with 2 thanks per post
    1. trending_up 2,323 views
    2. thumb_up 59 thanks given
    3. group 10 followers
    1. forum 20 posts
    2. attach_file 2 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
 

How was your path of becoming profitable

(login for full post details)
  #1 (permalink)
 michael94 
Chicago IL USA
 
Experience: None
 
michael94's Avatar
 
Posts: 14 since Jun 2019
Thanks: 6 given, 9 received

Hi fellow traders!

I am still pretty new in trading, and now I'm in desperate need of information and knowledge of how to create a strategy, how to do a proper enter and exit, and so on and so forth . Well - normal needs of any beginner .

So I thought It would be great, if more experienced and advanced traders share a part of their story of "How I stopped gambling and began to understand every what, where and why"

Any advise on people to follow on YouTube, articles from this blog, any other blog or trading courses would be great!

If You have something special to offer than just pm me

Thank You in advance!

Started this thread Reply With Quote
The following 2 users say Thank You to michael94 for this post:

Journal Challenge April 2021 results (now extended!):
Competing for $1800 in prizes from Jigsaw
looks_oneMaking a Living with the Microsby sstheo
(267 thanks from 25 posts)
looks_twoSalao's Journalby Salao
(67 thanks from 12 posts)
looks_3Deetee’s DAX Trading Journal (time based)by Deetee
(48 thanks from 18 posts)
looks_4Learning to Profit - A journey in algorithms and optionsby Syntax
(37 thanks from 15 posts)
looks_5Maybe a little bit different journalby Malykubo
(17 thanks from 17 posts)
 
Best Threads (Most Thanked)
in the last 7 days on futures io
The Crude Dude Oil Trading System
87 thanks
Big Mike in Ecuador
76 thanks
Help improve the FIO community
41 thanks
The New Micro Contract - MICRO BITCOIN coming May 2021
30 thanks
futures io site changelog and issues/problem reporting
25 thanks
 
(login for full post details)
  #3 (permalink)
 xplorer 
Site Moderator
London UK
 
Experience: Beginner
Platform: CQG
Broker: S5
Trading: Futures
 
xplorer's Avatar
 
Posts: 5,354 since Sep 2015
Thanks: 13,486 given, 12,951 received



michael94 View Post
Hi fellow traders!

I am still pretty new in trading, and now I'm in desperate need of information and knowledge of how to create a strategy, how to do a proper enter and exit, and so on and so forth . Well - normal needs of any beginner .

So I thought It would be great, if more experienced and advanced traders share a part of their story of "How I stopped gambling and began to understand every what, where and why"

Any advise on people to follow on YouTube, articles from this blog, any other blog or trading courses would be great!

If You have something special to offer than just pm me

Thank You in advance!

Welcome michael94


If you have not checked it already, the Trading Webinars section of this forum contains hundreds of videos that can provide guidance. Among those you might want to start with Where to start as a trader? (Part I: Instruments and Brokers) w/Big Mike


Good luck!

Reply With Quote
The following 4 users say Thank You to xplorer for this post:
 
(login for full post details)
  #4 (permalink)
 kareem40 
Dallas, TX
 
Experience: Intermediate
Platform: NT, TS
Broker: IB, Oanda
Trading: ES, MES, MNQ, MYM
 
kareem40's Avatar
 
Posts: 655 since May 2010
Thanks: 1,864 given, 875 received

I really think the best way is thru pain and losses. The only advice I give is if you are very new trade small so you can lose less in the first 5 years. FIO will be great help and may reduce the pain.
Best of luck in your journey.
K

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to kareem40 for this post:
 
(login for full post details)
  #5 (permalink)
 michael94 
Chicago IL USA
 
Experience: None
 
michael94's Avatar
 
Posts: 14 since Jun 2019
Thanks: 6 given, 9 received


kareem40 View Post
I really think the best way is thru pain and losses. The only advice I give is if you are very new trade small so you can lose less in the first 5 years. FIO will be great help and may reduce the pain.
Best of luck in your journey.
K

At least, maybe you would suggest some course or separate articles from this forum? Something You've already tried and consider valuable. Don't get me wrong, I'm not lazy to do research. It's just.... there is so much info that I'm kinda lost, and trying to sort it out a bit.

Started this thread Reply With Quote
The following user says Thank You to michael94 for this post:
 
(login for full post details)
  #6 (permalink)
 michael94 
Chicago IL USA
 
Experience: None
 
michael94's Avatar
 
Posts: 14 since Jun 2019
Thanks: 6 given, 9 received


xplorer View Post
Welcome michael94


If you have not checked it already, the Trading Webinars section of this forum contains hundreds of videos that can provide guidance. Among those you might want to start with Where to start as a trader? (Part I: Instruments and Brokers) w/Big Mike


Good luck!

Already going through, but i thought that it is good to hear from others. Maybe someone will suggest something, that no other topic contains

Started this thread Reply With Quote
The following 2 users say Thank You to michael94 for this post:
 
(login for full post details)
  #7 (permalink)
 kareem40 
Dallas, TX
 
Experience: Intermediate
Platform: NT, TS
Broker: IB, Oanda
Trading: ES, MES, MNQ, MYM
 
kareem40's Avatar
 
Posts: 655 since May 2010
Thanks: 1,864 given, 875 received


michael94 View Post
At least, maybe you would suggest some course or separate articles from this forum? Something You've already tried and consider valuable. Don't get me wrong, I'm not lazy to do research. It's just.... there is so much info that I'm kinda lost, and trying to sort it out a bit.

I have tried many and the only ones that worked for me are courses about Price Action and VSA. I have studied and followed Dr. Gary Dayton and Feibel Trading for both VSA and market structure. They both have tons online and on YT for free to try. It maybe a different journey for you. Just don't move around too much and always remember that almost all indicator vendors are a waste of your time and money. Good traders trade, others sell indicators. Last trading is very, very hard and not for everyone.
Again, good luck.
K

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to kareem40 for this post:
 
(login for full post details)
  #8 (permalink)
 xplorer 
Site Moderator
London UK
 
Experience: Beginner
Platform: CQG
Broker: S5
Trading: Futures
 
xplorer's Avatar
 
Posts: 5,354 since Sep 2015
Thanks: 13,486 given, 12,951 received


michael94 View Post
At least, maybe you would suggest some course or separate articles from this forum? Something You've already tried and consider valuable. Don't get me wrong, I'm not lazy to do research. It's just.... there is so much info that I'm kinda lost, and trying to sort it out a bit.

There are a few books you could pick up.


When I started I didn't even know the difference between stocks, shares and equities (there is practically no difference).

My first book was Day Trading for Dummies: a good introduction to give you a very basic and general idea of the world of trading but you won't get very far with that. The author is not a trader, she's an Economics professor.

I don't know of any trading courses that guarantee you any profitability: chances are they don't exist. In fact I would stay away from any trading courses which are likely to cost you thousands of dollars before you have had time to assess which direction you want your trading to go.

It is very difficult to provide personalized advice as everyone will be different: patient people can trade very slow markets, impatient people can't. This is just an example.

Many people on this forum say that the best time spent is searching content here. I would agree with that.

My best advice would be to familarize yourself with the powerful search engines in here. If you want to search for something specific but don't know how, just drop me a line and I'll help.

Reply With Quote
The following 2 users say Thank You to xplorer for this post:
 
(login for full post details)
  #9 (permalink)
 kareem40 
Dallas, TX
 
Experience: Intermediate
Platform: NT, TS
Broker: IB, Oanda
Trading: ES, MES, MNQ, MYM
 
kareem40's Avatar
 
Posts: 655 since May 2010
Thanks: 1,864 given, 875 received


xplorer View Post
There are a few books you could pick up.


When I started I didn't even know the difference between stocks, shares and equities (there is practically no difference).

My first book was Day Trading for Dummies: a good introduction to give you a very basic and general idea of the world of trading but you won't get very far with that. The author is not a trader, she's an Economics professor.

I don't know of any trading courses that guarantee you any profitability: chances are they don't exist. In fact I would stay away from any trading courses which are likely to cost you thousands of dollars before you have had time to assess which direction you want your trading to go.

It is very difficult to provide personalized advice as everyone will be different: patient people can trade very slow markets, impatient people can't. This is just an example.

Many people on this forum say that the best time spent is searching content here. I would agree with that.

My best advice would be to familarize yourself with the powerful search engines in here. If you want to search for something specific but don't know how, just drop me a line and I'll help.

So very true. And remember almost all courses are using on historical charts ( including my recommendations above). My best trades and sets are all on historical charts; I am excellent at it!! There are also very good traders here at the journal sections, follow them all.

K

K

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to kareem40 for this post:
 
(login for full post details)
  #10 (permalink)
 michael94 
Chicago IL USA
 
Experience: None
 
michael94's Avatar
 
Posts: 14 since Jun 2019
Thanks: 6 given, 9 received


Thank you guys for your replies and great advances! I already have some base of knowledge, and time to time I do really good entries and exits. I papertrade only for now, ans there is still a great lack of confidence and knowledge. Although even failing, I try to understand why. In most cases I see that I miss a lot of very important details and instead of acting basing on confidence, I'm jut gambling. It happens in 2/3 cases of all my positions. I know, it will take time to master this art, but from my experience I do things better when I can see multiple times how to do them. This is the reason for this topic. To fond some trusted source of information than can help me to think better about how to make my proper decisions. Of course there is no such as absence of losses or mistakes. But I think that good trader is the one, who has them minimized.

Started this thread Reply With Quote
The following 3 users say Thank You to michael94 for this post:
 
(login for full post details)
  #11 (permalink)
 Massive l 
Legendary Market Wizard
Portland, OR
 
Experience: None
 
Massive l's Avatar
 
Posts: 2,012 since Mar 2011
Thanks: 1,698 given, 4,191 received

If you want it you'll find it. Before the path to success comes the path to breakeven. You have to be in this because of an extreme obsession for coding, stats, numbers and winning. It has to be your #1 passion. If you're here for the money, you might as well kiss it goodbye. The money comes because of the obsession for the former.

Visit my futures io Trade Journal Reply With Quote
The following 13 users say Thank You to Massive l for this post:
 
(login for full post details)
  #12 (permalink)
 snax 
Legendary Market Wizard
Chicago
 
Experience: Beginner
Platform: Sierra Chart
Broker: Edge Clear
Trading: MES
 
snax's Avatar
 
Posts: 1,580 since Feb 2019
Thanks: 6,297 given, 6,316 received


Massive l View Post
If you want it you'll find it. Before the path to success comes the path to breakeven. You have to be in this because of an extreme obsession for coding, stats, numbers and winning. It has to be your #1 passion. If you're here for the money, you might as well kiss it goodbye. The money comes because of the obsession for the former.

Hey @Massive l! How did you make the transition into coding your strategies as opposed to executing manually?

EDIT: In hind-sight, I should probably ask this question next time you post in your journal. Didn't mean to distract from OP's original intention!

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to snax for this post:
 
(login for full post details)
  #13 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 144 since Aug 2018
Thanks: 135 given, 110 received

15 years of market exposure on/off. Made a lot of money. Lost even more. Some periods very intense. I've been fairly exhausted for the last 2 years juggling trading research/development with a full-time job. Lost contact with some friends and declined social stuff, but trying my best to maintain relationships with my closest ones.

If you want to succeed with this, you're likely required to make sacrifices. Also - it's much harder than you think and the harsh truth is you're not likely to succeed. There's really nobody to guide you as the ones who are most eager to help usually knows the least and those who know generally keep things for themselves.

My advice is to choose a volatile, liquid market and learn that market as it is. Not how you think it is. Now what some guru says. Or not what you think it should be. The market simply is.

What is that you see every day happening in front of your eyes. It goes up, yes? It goes down? Repeatedly? How much? How often?

As soon as you can - start logging information about what it is you see. Track the market and create statistics.

Reply With Quote
The following 5 users say Thank You to Howard Roark for this post:
 
(login for full post details)
  #14 (permalink)
 TraderDoc007 
Detroit MI/USA
 
Experience: Advanced
Platform: Multicharts, Custom own
Trading: All Futures
 
Posts: 65 since Sep 2017
Thanks: 41 given, 193 received


Massive l View Post
It has to be your #1 passion. If you're here for the money, you might as well kiss it goodbye. The money comes because of the obsession for the former.

Have to concur with this - trading has to be a passion and an obsession in the beginning. You Have to be determined to be successful and then carve out that path to success.
Look at a lot of charts and just observe initially. Your mind will start showing you things that gel with what is best for you. Maybe a certain pattern jumps out at you regularly, maybe volatility based bars show you some secret, maybe a collection of bars in some sort of format tells you something.
Bottom line is..do a lot of observing initially and read up on money management extensively. You need to master these 2 puzzles first and then deal with your own mind when you eventually start trading live. But live trading is way in the future so just concentrate on these 2 first.

Have fun initially but become very serious when it comes to training the mind.

All the best.

Reply With Quote
The following 8 users say Thank You to TraderDoc007 for this post:
 
(login for full post details)
  #15 (permalink)
 futrstrdr 
Cape Coral FL USA
 
Experience: Advanced
Platform: Tradestation
Broker: Tradestation
Trading: CL, NQ
 
Posts: 23 since Aug 2014
Thanks: 0 given, 54 received

It's taken 22 years but am finally getting the hang of it.

Reply With Quote
The following 3 users say Thank You to futrstrdr for this post:
 
(login for full post details)
  #16 (permalink)
 mtzimmer1 
Legendary Recovering Method Hopper
Upstate NY
 
Experience: Intermediate
Platform: TOS
Broker: TD Ameritrade
Trading: Equities, Treasuries, Gold
 
mtzimmer1's Avatar
 
Posts: 812 since Dec 2018
Thanks: 2,188 given, 1,820 received

I was lost until I happened upon Damian Castilla on youtube. He is as legit as they come. Uses no indicators, sells nothing, and trades a multi-million dollar account. Learn the basics from Damian, and it will save you many months/years of struggle.

I sound like an advertisement but it really is worth checking out!

[yt]https://www.youtube.com/channel/UCy5Zq25cFK3FZeF26wn4m0w[/yt]

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to mtzimmer1 for this post:
 
(login for full post details)
  #17 (permalink)
 Massive l 
Legendary Market Wizard
Portland, OR
 
Experience: None
 
Massive l's Avatar
 
Posts: 2,012 since Mar 2011
Thanks: 1,698 given, 4,191 received

delete

Attached Thumbnails
Click image for larger version

Name:	Capture.PNG
Views:	235
Size:	35.2 KB
ID:	308933  
Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #18 (permalink)
 Tuglife 
Escondido CA USA
 
Experience: Beginner
Platform: Jigsaw Daytradr + Ninjatr
Trading: E-Mini ES
 
Tuglife's Avatar
 
Posts: 118 since Jan 2020
Thanks: 57 given, 109 received

I am not profitable, but I am newly confident and feel I am on my way. The VWAP indicator and this thread really turned things around for me.


Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #19 (permalink)
 SBtrader82 
Rovigo (ITALY)
 
Experience: Intermediate
Platform: SierraChart, MotiveWave
Broker: Rithmic, Dorman, Interactive Brokers
Trading: Emini, Nasdaq, DAX, Bund, IBEX
 
SBtrader82's Avatar
 
Posts: 417 since Feb 2018
Thanks: 162 given, 915 received

I am not profitable yet, but the more I trade the more I feel that there must be some "turning points" that change everything.
Let me explain, suppose you are starting with a very small account of around 5K, most probably the account will go up and down a little and almost breaking even for quite a while until one day you make a nice trade and you "jump" to 8K, then you will go sideways and one day jump to 20K.... and so on.... until one day you will go above the 60K mark

It might take months to go from 5K to 20K, but from 20K to 60K it should be a lot easier and from 60K to 100K even easier.
Once you get to 100K you will have so many "degrees of freedom" that if you play correctly you can scale up to 500K extremely fast.

Of course this is just a theory, but it's something that I have observed whenever I passe the combines, the first part of the trading journey it's the most difficult. So playing safely at the beginning is crucial.

So, what I am trying to say is that once you feel that you are close to becoming profitable, maybe just one single day can change everything.
I believe that you need one big day, just one..... and it will se you up for a be profitable from that moment on.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #20 (permalink)
 Massive l 
Legendary Market Wizard
Portland, OR
 
Experience: None
 
Massive l's Avatar
 
Posts: 2,012 since Mar 2011
Thanks: 1,698 given, 4,191 received

wrong thread

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #21 (permalink)
 Massive l 
Legendary Market Wizard
Portland, OR
 
Experience: None
 
Massive l's Avatar
 
Posts: 2,012 since Mar 2011
Thanks: 1,698 given, 4,191 received

.

Attached Thumbnails
Click image for larger version

Name:	Capture.PNG
Views:	50
Size:	111.2 KB
ID:	310851  
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Massive l for this post:


futures io Trading Community Traders Hideout > How was your path of becoming profitable


Last Updated on March 22, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Journal Challenge w/$1,800 in prizes!

April
     



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