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Colin's struggle with trading (journal)


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Colin's struggle with trading (journal)

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  #1 (permalink)
Romania, Targu-Mures
 
Experience: Beginner
Platform: Ninja Trader
Trading: 6E, M6E
 
Colin F's Avatar
 
Posts: 69 since Dec 2010
Thanks: 55 given, 46 received

Hi there,

I always thought i will start a journal when i will be ready and have something precious to offer. Well the first part is true ( i am ready) but i have nothing to offer at the moment.

First some words about me and about my motivation to trade...

I am 23, married with a beautiful young lady, graduated the "banks and finances" college department, and currently i am studying my last year for getting a master degree in business administration.
I come from a beautiful and rich country (we have, salt mines, gold mines, natural gases, oils, see side, mountains, danube, mineral water springs, warm water springs, sulfurous water springs, sparkling water etc...) i would say one of the richest in Europe, but the problem is people, and i won't say more.
The minimum wage here is 250 dollars, and the rent for a 2 room apartment is 180$, the cost of an apartment is about 40.000$, and 1L of diesel is almost 2$. Now i don't want to say that i earn the minimum wage, but that's the reality here.
The problem is that allot of talented young people educate themselves in Romania, and go abroad to work for 4 digit wages. Allot of my friends and family relatives did that and never came back. I don't want to do that, i want to stay here and i want to make a difference.
That being said my motivation for trading is kind of clear, i want to trade futures to increase my wage, and i don't want to leave my country. I just want to be able to leave a decent life, and give back.

Present

Trading is also not so popular here, especially among young people. We have a stock market and a futures market, but the liquidity is very low and not allot of people trade them. I have a stock portfolio for 3 years now (it's not going so well with all the recession), way before i heard about futures and have no idea what i'm doing with it...It's kind of frustrating not to be able to take advantage of a downtrend. Also i have to say that shares are cheaper here.

I became interested in futures and the international markets for 1 year now, because they are more liquid, i can take advantage of down trends and up trends, the trading platforms are way more flexible, etc...Since then, i am learning, reading books, reading the forum, watching webinars, and doing all that i can to learn more about the markets. I tried different systems and setups from the forum but i guess none work for me (probably because i haven't stick long enough with one )
It's hard to see that people invite you to buy allot of stuff that actually don't work, and you don't know how to make the difference from something that it's worth the money and something that doesn't. And some people say that you should scalp and use small stops, other say use big stops and stay longer in the trend. Some say you need to have 25.000$ before even thinking about trading, some say 5000 is enough.

I will only be able to raise 5000, money that i am "comfortable" loosing, and i will probably trade a micro market where 1 tick is 1 $. I want to think that i will find or create a method that would help me to grow that account. I also know that the method is not everything but the person between the chair and the keyboard. I also now that i need a trading plan that i have to follow before trading, but first, i need to have something to trade.

I will fight and sim trade until i will be ready, i will not quit until i will find what i need to grow that account.

I have to admit that sometimes i feel lonely, low and discouraged, and that is exactly why i created this thread, to have you, people like me ( way better actually) on my side, and to better organize and discipline myself. As a matter effect, i do have something to share, a picture from my wedding, for you to know who you'r talking to.


To be honest it will be an honer to have anybody taking their time to read my thread, so thank you for reading all of this.
I actually have no idea what i am going to do next, but i will fight...

Colin
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  #3 (permalink)
Chicago, Illinois USA
 
 
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One guy I used to work for, who was an ag option trader, used to always tell me to pay attention to the opening range - that time frame is up to you.

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  #4 (permalink)
whitestone, new york
 
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Colin F View Post
Hi there,

I always thought i will start a journal when i will be ready and have something precious to offer. Well the first part is true ( i am ready) but i have nothing to offer at the moment.

First some words about me and about my motivation to trade...

I am 23, married with a beautiful young lady, graduated the "banks and finances" college department, and currently i am studying my last year for getting a master degree in business administration.
I come from a beautiful and rich country (we have, salt mines, gold mines, natural gases, oils, see side, mountains, danube, mineral water springs, warm water springs, sulfurous water springs, sparkling water etc...) i would say one of the richest in Europe, but the problem is people, and i won't say more.
The minimum wage here is 250 dollars, and the rent for a 2 room apartment is 180$, the cost of an apartment is about 40.000$, and 1L of diesel is almost 2$. Now i don't want to say that i earn the minimum wage, but that's the reality here.
The problem is that allot of talented young people educate themselves in Romania, and go abroad to work for 4 digit wages. Allot of my friends and family relatives did that and never came back. I don't want to do that, i want to stay here and i want to make a difference.
That being said my motivation for trading is kind of clear, i want to trade futures to increase my wage, and i don't want to leave my country. I just want to be able to leave a decent life, and give back.

Present

Trading is also not so popular here, especially among young people. We have a stock market and a futures market, but the liquidity is very low and not allot of people trade them. I have a stock portfolio for 3 years now (it's not going so well with all the recession), way before i heard about futures and have no idea what i'm doing with it...It's kind of frustrating not to be able to take advantage of a downtrend. Also i have to say that shares are cheaper here.

I became interested in futures and the international markets for 1 year now, because they are more liquid, i can take advantage of down trends and up trends, the trading platforms are way more flexible, etc...Since then, i am learning, reading books, reading the forum, watching webinars, and doing all that i can to learn more about the markets. I tried different systems and setups from the forum but i guess none work for me (probably because i haven't stick long enough with one )
It's hard to see that people invite you to buy allot of stuff that actually don't work, and you don't know how to make the difference from something that it's worth the money and something that doesn't. And some people say that you should scalp and use small stops, other say use big stops and stay longer in the trend. Some say you need to have 25.000$ before even thinking about trading, some say 5000 is enough.

I will only be able to raise 5000, money that i am "comfortable" loosing, and i will probably trade a micro market where 1 tick is 1 $. I want to think that i will find or create a method that would help me to grow that account. I also know that the method is not everything but the person between the chair and the keyboard. I also now that i need a trading plan that i have to follow before trading, but first, i need to have something to trade.

I will fight and sim trade until i will be ready, i will not quit until i will find what i need to grow that account.

I have to admit that sometimes i feel lonely, low and discouraged, and that is exactly why i created this thread, to have you, people like me ( way better actually) on my side, and to better organize and discipline myself. As a matter effect, i do have something to share, a picture from my wedding, for you to know who you'r talking to.


To be honest it will be an honer to have anybody taking their time to read my thread, so thank you for reading all of this.
I actually have no idea what i am going to do next, but i will fight...

WelcomeColin!The journal is a great place to post your charts, and get feedback that might help.Good luck!

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  #5 (permalink)
In the heat
 
Experience: None
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PandaWarrior's Avatar
 
Posts: 3,162 since Mar 2010
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Wow, nice intro. I have friends that have lived in Romania and they loved it.

As to your trading journey, take it slow, only one real piece of advice...take it slow, don't try to go live to fast. Stay away from methods that rely heavily on indicators. Instead, pick an instrument, and watch it every day. Become an expert in that instrument on the time frame you like best and with the method you decide on. Don't change stuff to often. It could take you a year to find a method you like and suits your personality. Don't worry about that. Just stay on the path and put one foot in front of another....

And keep it simple. Complicated means you will lose confidence if you have losing trades. You will wonder what part of your complicated method did you forget to check.....trendlines, support resistance are the best....you dont need much more than that.

Good luck....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #6 (permalink)
Romania, Targu-Mures
 
Experience: Beginner
Platform: Ninja Trader
Trading: 6E, M6E
 
Colin F's Avatar
 
Posts: 69 since Dec 2010
Thanks: 55 given, 46 received

I watched this webinar yesterday night "TopStepTrader on Discipline and Risk", it was realy good, and i took notes from it (I have a notebook with notes from webinars )
I recommend it, and you don't even have to be an elite member to view it.
Also from what i understand you can take a 3 weeks trial program on some topsteptrader program.

Colin
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Market Wizard
Chicago, Illinois
 
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I read the entire intro in a thick Russian accent because my brain doesn't know what a Romanian one sounds like.


Anyways, looking forward to some more entries from ya!

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  #8 (permalink)
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  #9 (permalink)
Romania, Targu-Mures
 
Experience: Beginner
Platform: Ninja Trader
Trading: 6E, M6E
 
Colin F's Avatar
 
Posts: 69 since Dec 2010
Thanks: 55 given, 46 received


Big Mike View Post
How are things going?

Mike

Not so good, regarding trading...
The struggle continues, and by that i mean that i'm still learning and haven't been able to develop a setup that makes consistent profit, yet ... i hope not to be influenced in bad way by the negative results, and keep going...

Colin
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April 13, 2012


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