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I'm absolutely devastated, don't know where I'm heading now
Fellow inmates,
Yeah, I do not understand his lack of replies either. If you need help, ask, and then engage with us. We can and will help you. It almost sounded as though he was asking for more than verbal help though. I know a a lot of people that are chart traders and they are invariably looking at chart patterns and then confessing the next day that, "Well, I thought it was a triple top but maybe it wasn't" as if they missed some nuanced pattern of the candlesticks.
Well, I wish him luck at finding his stride again or maybe a good 8-5 job if that's what he needs to make ends meet.
I feel your pain as I have also blown accounts and spent far too much money on wonderful "indicators" and courses from the "real traders".
THE only thing you can rely on as truth is what you see price doing on the screen. Learn to trade price action and use what ever indicator you like only to confirm what price action is doing. Always us S&R lines, OHLC, trend-lines, along with volume where you see turns and reverses - usually price will return and move again as it approaches those areas. Just like sun rises every morning, patterns on screen repeat as well.
I know this is short and sweet. There is much in studying price action available. I would not let buy another indicator letting it sway your approach using PA. PA is truth always.
I hear your concern, but many are in a similar boat as Oliver. Hopefully it is not lost on him, but it has not gone into a void. I am learning a lot from these responses.
The main thing I am learning is how many great people there are on this forum who are willing to take time to respond to a plea for help like this. So please do not be deterred from sharing your pearls of wisdom by all the sponges around you.
You certainly have a good point here.
As BigMike has also already put it, others might indeed learn something from the advice given in here, too.
Frankly, it's just that I don't like people who ask for advice and then don't appreciate it (neither by a reply, nor by at least giving a "Thanks" for the post) if others spend the effort and their precious time writing a helpful post.
(Of course, there might always be a good reason why people can't answer...but it's also not the first time that I see this kind of behaviour in the forum here; it's very impolite IMHO...)
People are naturally generous when there's an opportunity to help someone.
Perhaps someone else, not knowing how to find their way out of their particular situation, will read these posts and find the one thing they needed to know to turn things around. (I've done this more than once... it seems I have had more than just one thing I needed to find . )
Posting here is good for everyone. Sometimes I'll find an answer for myself as I'm posting to reply to someone else.
I hope @OliverB finds value in some of this for himself as well.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
I dont have much to offer. But I got this message in my inbox plus I was warned I needed to contribute to the community. So I'll just say this. I know this isnt exactly what you are looking for Oscar... and its Futures... but when you said you are dependent on trading for income.. this might interest you as a last resort. It's a trade room that you could copy trade just to pay your bills until you sort stuff out? The focus is education of course.. he (Reza) has been teaching TPO for 10 years.. but unlike a few rooms I have been in or heard of.. he will post one or two trades a day that you can copy. Very transparent.. he types them in the chat box plenty of time before the trade. (ES and CL).. with minimal risk.. usually 2 pts (8 ticks). And he averages about 150 ticks a month.. and has been posting his daily results over 5 years now. I joined in November and he had his first losing month in quite a while (always my luck).. but that is rare. This past month we did $14,000 on 4 contracts. I know nobody wants to jump from strategy to strategy..and this is TPO and Futures.. and we dont want to be spoon fed trades but he DOES teach and has a great video course, and there are no fancy indicators you have to buy. But Im only saying this because you said you need to pay your bills. So maybe you could just copy trade to stay afloat until you figure things out? It's cheap too.. $550 for the year. Frankly I have never seen or heard of a better Futures room to learn and be a part of.
Google 'profiletraders' (dot com) and click on Performance. Other than that. sorry.. I know little about Options.. and do wish you success and overcoming this temporary hurdle in your life.
I felt the same way trying to do it on my own, I joined TTZ (the trading zone) they are great look into it they offer great education, Gritz, Gator and Gary they are so helpfull Idon't think you'll look back.
. )