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Your best learning resource?

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  #1 (permalink)
 TheManWithNoPlan 
Chicago, Illinois
 
Experience: Intermediate
Platform: Tradingview, Tradestation
Broker: NinjaTrader
Trading: Futures, Options
 
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Posts: 28 since Mar 2022
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What resource in your time trading was most useful for learning more and putting you on the right path?

As a rookie in the futures space, any guidance would be appreciated.

I will start as I am still in the cheese maze myself. I would say the most useful for me has probably been Market Wizards, it is thrown around a lot when talking about books, but hearing successful traders talking about macro and psychological aspects really helped hammer home the importance of good risk management and best practice. Which has taken me from being a losing trader to a breakeven one, which is almost somehow more frustrating.

Was there ever an AHA learning moment for you?

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  #2 (permalink)
 truckertrader 
Chicago, Illinois
 
Experience: Intermediate
Platform: Think or Swim
Broker: TD Ameritrade(Charles Shwab Futures and Forex)
Trading: Futures
 
Posts: 8 since Mar 2022
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TheManWithNoPlan View Post
What resource in your time trading was most useful for learning more and putting you on the right path?

Was there ever an AHA learning moment for you?

For me it was an episode of Macro Voices podcast with Erik Townsend. Totally changed my outlook. Literally, like a light that went on.

Although I have quite a few moments like that listening to amazing traders, you begin to pick up little nuggets here and there. Fortunately, my profession(truck driver) allows me a lot of time to listen to some great trading podcasts. Problem is I can't write anything I hear down at that moment because I'll wind up in a ditch!

Maybe that might help you even more. Trade Well!

Some of my favorites............

Chat with Traders
Macro Voices
Futures Radio Show
Top Traders Unplugged
Trend Following with Michael Covel
The Managed Futures Podcast
The Grant Williams Podcast

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  #3 (permalink)
 TheManWithNoPlan 
Chicago, Illinois
 
Experience: Intermediate
Platform: Tradingview, Tradestation
Broker: NinjaTrader
Trading: Futures, Options
 
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truckertrader View Post
For me it was an episode of Macro Voices podcast with Erik Townsend. Totally changed my outlook. Literally, like a light that went on.

Although I have quite a few moments like that listening to amazing traders, you begin to pick up little nuggets here and there. Fortunately, my profession(truck driver) allows me a lot of time to listen to some great trading podcasts. Problem is I can't write anything I hear down at that moment because I'll wind up in a ditch!

Maybe that might help you even more. Trade Well!

Some of my favorites............

Chat with Traders
Macro Voices
Futures Radio Show
Top Traders Unplugged
Trend Following with Michael Covel
The Managed Futures Podcast
The Grant Williams Podcast

Thank you for sharing! I have never listened to a trading podcast, thanks for giving me the idea to check them out and including the ones you felt benefited you the most. Do you mostly trade when you aren't making runs?

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  #4 (permalink)
 truckertrader 
Chicago, Illinois
 
Experience: Intermediate
Platform: Think or Swim
Broker: TD Ameritrade(Charles Shwab Futures and Forex)
Trading: Futures
 
Posts: 8 since Mar 2022
Thanks: 10 given, 11 received


TheManWithNoPlan View Post
Do you mostly trade when you aren't making runs?

I'm not a daytrader. I position or swing trade mainly through the use of futures calendar spreads which on average are less volatile than an outright position.

I'm a local driver(home every day), plus I work nights so it allows me to monitor positions through my phone since not much takes place overnight in the market, most of the time.Actually it was easier when I didn't have a cell phone with me because now you just sometimes feel a need to " do something," or " I don't want to miss out on this move" type of situation which most of the time only causes you.............PAIN!

Like I said you might enjoy listening to other successful people and along the way someone will say something that will just hit you like a ton of bricks.

Not to mention all the invigorating stories about where and how people started their trading careers.

Trade Well.

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  #5 (permalink)
 tr8er 
Market Wizard
Europe
 
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  #6 (permalink)
 TheManWithNoPlan 
Chicago, Illinois
 
Experience: Intermediate
Platform: Tradingview, Tradestation
Broker: NinjaTrader
Trading: Futures, Options
 
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Posts: 28 since Mar 2022
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truckertrader View Post
I'm not a daytrader. I position or swing trade mainly through the use of futures calendar spreads which on average are less volatile than an outright position.

I'm a local driver(home every day), plus I work nights so it allows me to monitor positions through my phone since not much takes place overnight in the market, most of the time.Actually it was easier when I didn't have a cell phone with me because now you just sometimes feel a need to " do something," or " I don't want to miss out on this move" type of situation which most of the time only causes you.............PAIN!

Like I said you might enjoy listening to other successful people and along the way someone will say something that will just hit you like a ton of bricks.

Not to mention all the invigorating stories about where and how people started their trading careers.

Trade Well.

10-4 buddy, I understand that temptation, I have run into it many times lol. Stay safe out there.

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  #7 (permalink)
 kevinkdog   is a Vendor
 
 
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truckertrader View Post
I'm not a daytrader. I position or swing trade mainly through the use of futures calendar spreads which on average are less volatile than an outright position.

Did you ever read the book "How I Lost $1 Million Dollars?" The dude was trading calendar spreads. It is a good cautionary tale, as even lower risk spreads can be turned into a crazy soup of extreme volatility and heavy losses...

I found it interesting when I traded spreads more...

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  #8 (permalink)
 WoodyFox 
Columbus, Ohio
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Futures
 
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TheManWithNoPlan View Post
What resource in your time trading was most useful for learning more and putting you on the right path?

As a rookie in the futures space, any guidance would be appreciated.

I will start as I am still in the cheese maze myself. I would say the most useful for me has probably been Market Wizards, it is thrown around a lot when talking about books, but hearing successful traders talking about macro and psychological aspects really helped hammer home the importance of good risk management and best practice. Which has taken me from being a losing trader to a breakeven one, which is almost somehow more frustrating.

Was there ever an AHA learning moment for you?

Being that I only trade using statically based strategies, my biggest AHA moment was discovering a lot of the tools needed to be successful are already out there. The exchanges themselves and many websites have the data and tools available for you to use to create statistical advantages. This not only helps you find your edges, its saves countless hours of time.

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  #9 (permalink)
 TheManWithNoPlan 
Chicago, Illinois
 
Experience: Intermediate
Platform: Tradingview, Tradestation
Broker: NinjaTrader
Trading: Futures, Options
 
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Posts: 28 since Mar 2022
Thanks: 21 given, 22 received


WoodyFox View Post
Being that I only trade using statically based strategies, my biggest AHA moment was discovering a lot of the tools needed to be successful are already out there. The exchanges themselves and many websites have the data and tools available for you to use to create statistical advantages. This not only helps you find your edges, its saves countless hours of time.

Thanks for sharing. I have looked at a lot of the learning and education material on the CME site have not used any tools on there. What tools did you find particularly of value?

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  #10 (permalink)
 truckertrader 
Chicago, Illinois
 
Experience: Intermediate
Platform: Think or Swim
Broker: TD Ameritrade(Charles Shwab Futures and Forex)
Trading: Futures
 
Posts: 8 since Mar 2022
Thanks: 10 given, 11 received



kevinkdog View Post
Did you ever read the book "How I Lost $1 Million Dollars?" The dude was trading calendar spreads. It is a good cautionary tale, as even lower risk spreads can be turned into a crazy soup of extreme volatility and heavy losses...

I found it interesting when I traded spreads more...

LMAO! You mean similar to something like this insane volatility...

Crazy what's been happening with volatility in spreads these days, but I always do love a good read, I'll check it out. Thanks

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