An embarrassing, honest confession - futures io
futures io



An embarrassing, honest confession


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one Rovo27 with 4 posts (3 thanks)
    2. looks_two SomePsychoDude with 4 posts (1 thanks)
    3. looks_3 sunshnpeg with 3 posts (3 thanks)
    4. looks_4 phantomtrader with 2 posts (5 thanks)
      Best Posters
    1. looks_one jagui with 15 thanks per post
    2. looks_two tr8d3r with 14 thanks per post
    3. looks_3 lightsun47 with 13 thanks per post
    4. looks_4 Schnook with 6 thanks per post
    1. trending_up 3,439 views
    2. thumb_up 99 thanks given
    3. group 21 followers
    1. forum 33 posts
    2. attach_file 1 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 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
 

An embarrassing, honest confession

(login for full post details)
  #11 (permalink)
Kefkas Laugh
okc, ok
 
 
Posts: 21 since Aug 2022
Thanks: 28 given, 54 received


lightsun47 View Post
It's been close to seven years in this journey and I have yet to make one profitable point everyday.... Which equates to a mere five points a week...

Tried nine different approaches... And yet none can help me for a period of one week.... One straight week...

Thousands upon thousands of hours of screen time led me to.... Nowhere....

I am still trying to figure out why was the price supported by the mid band/moving average at that level and not elsewhere....

Why I cannot scalp/make one point from a swing which moved 10-15-20 points....

Too embarrassing to write anymore....

I will give 2 pieces of advice that i really believe in.

1. Are you trading because you love the markets or because you want to be the big shot "operator"? I think you have to approach this game from the former in order for it to truly work. follow your fate and love it no matter the outcome...Amor Fati.

2. If you are here for the right reasons, do more. are you tracking your performance metrics? MFA, MFE, ETD? What they will tell you cannot be found in any book or seminar. The nitty gritty mundane, tedious tasks to fine tune your game may be the make or break factor. You are working with a numbered lock...you may already have 3 of the 4 required numbers to unlock the door of profitability. Keep seeking, don't give up.

ps. if you suspect it could be your psychology, Rande Howell is a superb source for this. free videos on youtube each containing a gem or two if you pay attention.

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

Can you help answer these questions
from other members on futures io?
Tradingview Phone Call Alert
Trading Reviews and Vendors
 
Best Threads (Most Thanked)
in the last 7 days on futures io
NinjaTrader Brokerage Services (www.ninjatraderbrokerage …
153 thanks
Big Mike in Ecuador
91 thanks
New NinjaTrader
41 thanks
Selling Options on Futures?
12 thanks
2023 Bank Crisis and Meltdown: Silicon Valley Bank, Sign …
10 thanks
 
(login for full post details)
  #12 (permalink)
 phantomtrader 
Legendary Market Wizard
Reno, Nevada
 
Experience: Advanced
Platform: NinjaTrader
Trading: ZN, ZB, CL
 
phantomtrader's Avatar
 
Posts: 534 since May 2011
Thanks: 180 given, 898 received


lightsun47 View Post
It's been close to seven years in this journey and I have yet to make one profitable point everyday.... Which equates to a mere five points a week...

Tried nine different approaches... And yet none can help me for a period of one week.... One straight week...

Thousands upon thousands of hours of screen time led me to.... Nowhere....

I am still trying to figure out why was the price supported by the mid band/moving average at that level and not elsewhere....

Why I cannot scalp/make one point from a swing which moved 10-15-20 points....

Too embarrassing to write anymore....


Hi - I think we've been in contact occasionally. I'm sorry it hasn't worked out. I don't usually recommend trading instructors, but this guy is really very good. It's free. He shares everything. I've gone over his
setup quite extensively and actually added it to my portfolio of setups. I've used it profitably and I think you can too. You just need to go through his videos thoroughly, particularly the one I'm posting below.
Set it up, practice it in replay and see if it works for you. I use my order flow tools, particularly Ninza volume delta, as a filter, but you don't have to do that.

I know you've tried hard at this business. It's not easy. But sometimes something comes along that may help. Feel free to contact me if you have any questions about his setup.

I know he's an Apex affiliate, which I don't particularly like, but his methodology is worth testing.

His name is Bob Anderson:


Reply With Quote
The following 5 users say Thank You to phantomtrader for this post:
 
(login for full post details)
  #13 (permalink)
HiLatencyTRDR HLT
Tallahassee
 
 
Posts: 370 since Dec 2018
Thanks: 15 given, 128 received


This brings up a lot of thoughts and ideas.

On this site I took 1700 real money to 10k. I documented every bit of it and posted actual account statements. Guess what.. I may have gotten lucky or caught a good run because I quickly took it back to zero in a few weeks.

1. We don't really know how much time and effort you have put forth.
2. If you are really being honest you would include some records of trading days or weeks and ask what looks wrong or correct.
3. Way too many unknowns for anyone to comment on what you should do but if I take your post at face value as if it is true then I will give you an answer. An honest answer. Stop trading now!

Stop trading and salvage what you have left of your life to make a career

You never stayed you have an income producing job or a trust fund and that trading is just a hobby etc. So

Stop wasting your time and money.

My credentials are that I am profitable by hundreds and sometimes thousands of dollars everyday by noon. That's fact. The other fact is that I tend to do so well so often that I lose sight of taking losses and quite frequently give all of it back and then some but there has not been a day in the last 300 that I trades that at some point usually early on that I am not met positive by a couple hundred dollars.

And I still struggle everyday and cumulatively I am still a net loser due to fees commissions expenses and not trading properly at ALL times.

People fail to realize that the sequence of trading success goes much like this
1. Gather information and make a trade plan
2. Trade demo back test watch charts videos etc. Do well demo trading
3. Open 1st account. Do ok then blow out all monies quickly
4. Back to drawing board study indicators study new ideas ..realize the weak link is just
Psychology etc.
5. Open another account. Do much better making proper decisions and following rules.
6. Eventually and more slowly this account loses money
7. You again study etc formulate but this time you have COMFORT making trades.
You get in and out easily follow rules and systems and do well sometimes and very well sometimes but somehow there are a couple days where you give back a week or a month of gains. You have learned how to make money everyday but that doesnt mean you learned how to keep it!
8. At this point many must give up. Due to financial constraint and family or need to find a job that pays you for your time.
9. If you continue trading you realize it's about preserving capital and not making money!
10. You trade only at specific points andany days will stop and enjoy life instead of the screens understanding that the mkts always there but you won't be!
11. You make consistent money again and decide to size up bigger and then it happens
You lose and you lose big again. As soon as you get big you lose all over again.
12. Maybe you decide that making 1000 to 3000 a day is just wonderful from home and done by noon! This is exactly what I learned. You don't need to be buffet or someone who makes a million or 2. You can have a great life making 150 to 250k from home in your underwear and be done by noon. You stop giving back the easy trade money in the afternoons ! Make it early and make it quickly and be done until tomorrow.

I took 1700 on this site to 10k in 3 weeks. All live trades all real money. I lost it all a week later because I felt invincible. Computers and machines don't have feelings. They just print gains and losses and move on...that's what you need to do. Move on from trading. Life is short and trading is a long journey with impossible odds.
Good luck in whatever you do but stop throwing money away.

Reply With Quote
The following 4 users say Thank You to HiLatencyTRDR HLT for this post:
 
(login for full post details)
  #14 (permalink)
HiLatencyTRDR HLT
Tallahassee
 
 
Posts: 370 since Dec 2018
Thanks: 15 given, 128 received

I also would like to add that as you get bigger and if you are taking more money out of the marketa then eventually you start to understand that some other entity or entities that can beat you with machines will adjust ever so minutely to take your money back. I can tell that I'm trading differently based strictly on my p and l. Other trading companies can too. If nothing has really changed and you are making millions a month then eventually other people won't be making what they were making and then they adjust to make their money back! It's an ecosystem. Just like the jungle.

We retail traders are peanuts and that is our edge but we will hit a wall very quickly as far as what is possible from home with a mouse click or even an at home algo. This doesn't mean you cannot pull out a million dollar year or a steing of them but to think that you can keep growing at a fast rate is unreal and won't work especially if a short term day trader. If trading is a business understand that you will have 1 store maybe 3 but you will not be Starbucks by working from home!

As you grow so does your competition and they are embedded.

It only gets more difficult once you figure out how to print money from the markets so saying I can make money everyday doesn't meant that the following scenario cannot happen

240 trading days. I make 230,000 dollars on day 230 of trading.

On days 231 to 240 I lose 300 grand because I started writing options because I was losing huge in my regular system! I am now negative 60k for the year.
We can all have a good run and a great run but few ever stay consistent long enough to make it in the business period!

It gets infintestimaly harder as you grow and I've noticed even in the last year and especially the last 2 months that my trading play must be perfect or the algos will take it back even faster than they did a year ago.

Think chatbotgpt is amazing! Imagine they have that x 10 for trading at huge firms packed with data scientists and PhD mathematicians. This is why you won't grow huge on your own with your own capital in your spare bedroom. You can make good money but filthy rich..doubtful. This is why so many floor traders who know markets better than anyone will tell you. The machines cannot be beaten.

Reply With Quote
 
(login for full post details)
  #15 (permalink)
 phantomtrader 
Legendary Market Wizard
Reno, Nevada
 
Experience: Advanced
Platform: NinjaTrader
Trading: ZN, ZB, CL
 
phantomtrader's Avatar
 
Posts: 534 since May 2011
Thanks: 180 given, 898 received


HiLatencyTRDR HLT View Post
This brings up a lot of thoughts and ideas.

On this site I took 1700 real money to 10k. I documented every bit of it and posted actual account statements. Guess what.. I may have gotten lucky or caught a good run because I quickly took it back to zero in a few weeks.

1. We don't really know how much time and effort you have put forth.
2. If you are really being honest you would include some records of trading days or weeks and ask what looks wrong or correct.
3. Way too many unknowns for anyone to comment on what you should do but if I take your post at face value as if it is true then I will give you an answer. An honest answer. Stop trading now!

Stop trading and salvage what you have left of your life to make a career

You never stayed you have an income producing job or a trust fund and that trading is just a hobby etc. So

Stop wasting your time and money.

My credentials are that I am profitable by hundreds and sometimes thousands of dollars everyday by noon. That's fact. The other fact is that I tend to do so well so often that I lose sight of taking losses and quite frequently give all of it back and then some but there has not been a day in the last 300 that I trades that at some point usually early on that I am not met positive by a couple hundred dollars.

And I still struggle everyday and cumulatively I am still a net loser due to fees commissions expenses and not trading properly at ALL times.

People fail to realize that the sequence of trading success goes much like this
1. Gather information and make a trade plan
2. Trade demo back test watch charts videos etc. Do well demo trading
3. Open 1st account. Do ok then blow out all monies quickly
4. Back to drawing board study indicators study new ideas ..realize the weak link is just
Psychology etc.
5. Open another account. Do much better making proper decisions and following rules.
6. Eventually and more slowly this account loses money
7. You again study etc formulate but this time you have COMFORT making trades.
You get in and out easily follow rules and systems and do well sometimes and very well sometimes but somehow there are a couple days where you give back a week or a month of gains. You have learned how to make money everyday but that doesnt mean you learned how to keep it!
8. At this point many must give up. Due to financial constraint and family or need to find a job that pays you for your time.
9. If you continue trading you realize it's about preserving capital and not making money!
10. You trade only at specific points andany days will stop and enjoy life instead of the screens understanding that the mkts always there but you won't be!
11. You make consistent money again and decide to size up bigger and then it happens
You lose and you lose big again. As soon as you get big you lose all over again.
12. Maybe you decide that making 1000 to 3000 a day is just wonderful from home and done by noon! This is exactly what I learned. You don't need to be buffet or someone who makes a million or 2. You can have a great life making 150 to 250k from home in your underwear and be done by noon. You stop giving back the easy trade money in the afternoons ! Make it early and make it quickly and be done until tomorrow.

I took 1700 on this site to 10k in 3 weeks. All live trades all real money. I lost it all a week later because I felt invincible. Computers and machines don't have feelings. They just print gains and losses and move on...that's what you need to do. Move on from trading. Life is short and trading is a long journey with impossible odds.
Good luck in whatever you do but stop throwing money away.

It would be helpful if you showed which indicators/strategies you used and posted a few charts. Thanks.

Reply With Quote
 
(login for full post details)
  #16 (permalink)
 sunshnpeg 
Greenville SC
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader
Trading: NQ, MNQ
 
Posts: 33 since Nov 2018
Thanks: 246 given, 23 received

I've read in these posts things such as you can't beat the machines and you need to learn market structure. Not to beat a dead horse, but Rose in Al Brooks trading room tells you bar by bar what the algos/machines are doing. She also teaches market structure. She doesn't beat the machines, she trades with them because she understands what they are doing.

Rose teaches Al's methods and a few of her own, which are gold. She draws on the screen and will mark her targets early in the day. She will draw the structure as it is being developed or broken and tells you beforehand how it will play out. Rose is the real deal. As I said in my earlier post she walks you through pulling 1-2-5-10-15-20 points out of the market every day over and over. She can give a 20 or 40 point target down to the tick. How can she do this? She truly understands how to trade. She trades with one or two micros or minis on ES.

Oh the deal about making money in the morning and giving it back in the afternoon. Rose usually has a beautiful swing trade almost every afternoon. She is only in the webinar from 9 to 12, but continues to post trades in her Discord after the webinar is over.

It's not about having an edge or a special indicator. It's truly learning how to trade the markets.

Thanks for reading my post. I am here to help!

Reply With Quote
 
(login for full post details)
  #17 (permalink)
 lewiswharf 
Boston, MA
 
Experience: Beginner
Platform: Tradovate
Trading: Futures
 
Posts: 14 since Jun 2022
Thanks: 6 given, 12 received


sunshnpeg View Post
Not to beat a dead horse, but Rose in Al Brooks trading room tells you bar by bar what the algos/machines are doing.

Not to be pessimistic, but I think very little is known from one bar to the next unless you are looking at the daily. For instance, looking at a 5 minute bar and describing what's happening bar by bar is the baloney in my sandwich. I've seen this sort of analysis. It's funny how they can never predict it, and yet the previous bar always indicates what's going to happen with the next bar.

Reply With Quote
The following user says Thank You to lewiswharf for this post:
 
(login for full post details)
  #18 (permalink)
 sunshnpeg 
Greenville SC
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader
Trading: NQ, MNQ
 
Posts: 33 since Nov 2018
Thanks: 246 given, 23 received


lewiswharf View Post
Not to be pessimistic, but I think very little is known from one bar to the next unless you are looking at the daily. For instance, looking at a 5 minute bar and describing what's happening bar by bar is the baloney in my sandwich. I've seen this sort of analysis. It's funny how they can never predict it, and yet the previous bar always indicates what's going to happen with the next bar.

Thanks for your input. You know, I subscribed to Al's room several times and never could get anything out of it, much less a bar by bar analysis. Then one day back in July of last year, they offered a two week trial with Rose. I was absolutely hooked from then on.

I finally understood so much that I did not know. Al is a little tough for me to understand. Rose makes it so a simpleton like me can understand. I've never come across anything like it.

Yes Rose goes bar by bar, but she knows the big picture quite well and that's what makes the difference. She shows bar by bar how the market is working it's way to the targets she marks before and during the trading session. She can spot a target 20 or 40 points away. It's no secret. She puts it out there and shows how she determined the targets way in advance.

I keep a notebook and mark the date and time Rose discusses important points. She goes over measured moves, point counting, the Asian session, Fibs, Wolfe waves every single day. Trading is complex to me and with Rose repeating these points every session, it finally is sinking in.

But you know the best part of all? Rose is available every day / evening to address any questions you ask her in Discord. She is in the BPA Discord and her own separate one. She won't shy away from anything. She's fearless. You can even ask her to review specific topics on her next webinar day. She is there 3 or 4 days a week. Al is there usually 1 day and there are guest some days also.

I know this probably needs to go into the Vendor Review thread. Just trying to let people know it is not hopeless, there are traders out there than can help.

Reply With Quote
 
(login for full post details)
  #19 (permalink)
 lewiswharf 
Boston, MA
 
Experience: Beginner
Platform: Tradovate
Trading: Futures
 
Posts: 14 since Jun 2022
Thanks: 6 given, 12 received


sunshnpeg View Post
Rose is available every day / evening to address any questions you ask her in Discord.

Her server link is available under her BPA discord profile. Her discord appears to be free so I'm digging around. Perhaps the OP will benefit from this.

Reply With Quote
 
(login for full post details)
  #20 (permalink)
 Rovo27 
Austin + TX/United States
 
Experience: Advanced
Platform: Ninjatrader 8
Broker: Rithmic
Trading: NQ
 
Rovo27's Avatar
 
Posts: 57 since Aug 2020
Thanks: 22 given, 77 received


Just my opinion, but I donít think further technical analysis will benefit the op. Itís probably actually the wrong place to look for the reason for lack of success.


Sent using the futures.io mobile app

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Rovo27 for this post:


futures io Trading Community Traders Hideout > An embarrassing, honest confession


Last Updated on February 20, 2023


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2023 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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