(If you already have an account, login at the top of the page)
futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.
At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.
With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.
We are fundamentally different than most other trading sites:
We are here to help. Just let us know what you need.
We work extremely hard to keep things positive in our community.
We do not tolerate rude behavior, trolling, or vendors advertising in posts.
We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
We expect our members to participate and become a part of the community. Help yourself by helping others.
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.
I just started day trading ES futures on Friday (3/4/16). After briefly paper trading a system that is essentially buying higher lows (admittedly not long enough to be what anyone would consider a thorough test) I decided to go live trading 1 contract at a time.
On my first day (3/4/16) I made what I can see now was a stupid mistake and I would guess I'm not the first to make it. After my first live trade, which went well, I got all nervous about my risk and tightened up the stops instead of leaving them where my system dictated. This lead to me getting stopped out of two trades that would have combined for about ~12 points then proceeded to make two bad rage trades which were losses. In total I was up on the day, but not anywhere near what I should have been. I can't miss out on those trades and still be successful over the long term.
Day 1
5 trades
+$71 after fees.
The following 4 users say Thank You to Nubevestor for this post:
Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
I see from other journals that it is the norm to record points, not dollars, I like that. It's more like score for being right. After today I will have to keep better track of points.
Today I was positive PnL more than I was my first day, but I don't know the points. When I look at my order history it shows all the times I move my stop or my target as orders. It would take amonth of Sundays for me to figure out what was what. Tomorrow I will log trades in a notebook.
The inverse of buying higher lows is selling lower highs, which it looks like we've set the last couple of days along with corresponding lower lows. That along with the ascending wedge shape that's been forming since the bottom a will have me on the lookout for an opportunity to sell today.
Observations of overnight: We might be setting the sellable lower high right here about an hour before open and so far I only trade the day session so I may miss it. Second observation is that the downward trendline since yesterdays open outcry high is rather steep. One might normally be weary of a bounce off that line, but it's steep enough that I'm not convinced price will contact it again. We will see.
Really screwed the pooch today. I once again let myself get stopped out of a two good trades. A short at open And a long off the bottom of the ascending wedge I had been watching. After that I got frustrated and went short es long nq which I have no idea how to do. I know I shouldn't do it because I know I don't know how to do that, but I did it anyway.
In short I really didn't learn much today - I didn't things I already knew I shouldn't do.
The following user says Thank You to Nubevestor for this post:
Thanks for the feedback. I've been kicking myself in the butt since then, still am this morning, and thinking of taking the day off so I'm not trading emotionally. Which I think right this minute I would be. On the plus side, I'm pretty confident I've learning to not throw caution to the wind.
After I finish my morning prep I'll see how I feel and decide then if I'm trading today or not.
Hi Nubevestor - I'd say that paper trading and live trading, while appearing similar, can actually be two significantly different experience, often because of pressure and psychological factors playing a much bigger role when using real money than when not. It's a hurdle that anyone wanting to trade needs to necessarily go through in my view. Hope it helps.
The ascending wedge is still there but looks to be in trouble.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).
In retrospect it appears we've been in something of a channel the last few days. For my purposes thought the trend of lower highs is broken so I will have to watch the chart to see what happens. From past observations this could either be the start of a different uptrend or we could flush right back down and set a lower low, so basically I have nothing actionable.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).
The following user says Thank You to Nubevestor for this post:
It certainly feels that way so far. I've been stopped out of several good trades in just my first few days because I'm risk averse. I had a long talk about it with my girlfriend last night who tried to reassure me that it's monopoly money so I shouldn't worry. I'm not convinced yet, I will have to work on being so skerred for sure.
