How I Trade For a Living - Trading Journals | futures io social day trading
futures io futures trading


How I Trade For a Living
Updated: Views / Replies:61,498 / 662
Created: by rocksolid68 Attachments:94

Welcome to futures io.

(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 Ė 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 donít 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.

-- Big Mike, Site Administrator

Closed Thread
 94  
 
Thread Tools Search this Thread
 

How I Trade For a Living

  #31 (permalink)
Membership Temporarily Revoked
Boston, MA
 
Futures Experience: Intermediate
Platform: NT7
Favorite Futures: CL, RB, LE
 
Posts: 264 since Apr 2014
Thanks: 102 given, 174 received


IzhakHaim View Post
"Then in the last week before the are done selling cookies, they go on sale!!!"

Let me know when is the last week of the STOCK/FUTURES/ETF etc. before no more selling so I know to pay sale's price....

Easy to do with cookies since you KNOW when the season is over...

Izhak, it was a rhetorical scenario. A hypothetical, if you will. His point is valid. Don't start with your nonsense again. You remember what happened the last time you did. Tone yourself down. I toned myself down, and I now better know my boundaries on what I can and should say.

Read through rocksolids's scenario again, or many times, to see his point. As many times as you need. Don't just knee-jerk with some poo-poo without thinking it through.

P.S. An analogy! That's it! Ug.


Last edited by HoopyTrading; September 7th, 2016 at 02:32 PM. Reason: Analogy
The following 4 users say Thank You to HoopyTrading for this post:
 
  #32 (permalink)
Membership Temporarily Revoked
white plains new york
 
Futures Experience: Intermediate
Platform: NJ
Favorite Futures: CL
 
Posts: 66 since Apr 2016
Thanks: 30 given, 68 received

I know, only want to point out that this analogy is not in place.
With the cookies, or ocean waves, we know for sure direction and time for up and down. Any "for sure" re financial products is pure speculations and some probabilities.

The following 3 users say Thank You to IzhakHaim for this post:
 
  #33 (permalink)
Market Wizard
Duluth MN
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra Chart
Broker/Data: AMP
Favorite Futures: ES
 
rocksolid68's Avatar
 
Posts: 1,019 since Jan 2015
Thanks: 1,316 given, 2,651 received
Forum Reputation: Legendary



IzhakHaim View Post
I know, only want to point out that this analogy is not in place.
With the cookies, or ocean waves, we know for sure direction and time for up and down. Any "for sure" re financial products is pure speculations and some probabilities.

Hey @IzhakHaim,

Like @HoopyTrading said, it was but an analogy. But since you are not content with it, shall I try to elaborate?

You mention that my analogy is "not in place" because we never know when the market is going to turn. You are right, we do not know where it is going to turn.

However, you are wrong about my analogy. Go back and read the entire post. I use a certain word quite a bit in my entire post: confident.

Regarding my "Y-Close" fading example, I never said that the market was FOR SURE going to 2025, however, I said I was confident that it would.

In my analogy, the changing of season was a metaphor for my market bias. If you are not confident in your thesis, you should't take a trade.

If I was not confident that I could sell those cookies off-season for a profit, I wouldn't have bought 30 boxes.

Same goes for trading. If you are not confident in your thesis, you should not take that trade.

I understand that being confident in your thesis doesn't mean that it will be a profitable one, but what being confident in your thesis does do, is allow you to correctly manage your trade and money.

Nothing is for sure, yes, but if you are not confident in cookie prices going up, don't buy them.

EDIT: I also understand that others, such as yourself may have differing views on things. I am not forcing my thoughts on to anyone. I am providing my thoughts and beliefs on this wonderful forum for those that want to read it. Does everyone want to know what Alex thinks? Of course not! That is why you all have a choice whether or not you prescribe to my thoughts and beliefs. You don't even have to agree with everything I say! You can come here and read 3 of my posts and disagree with two of them, but hey, you now have another post-worth of knowledge that you have accepted into your mind. So, do as you wish! All I can do is provide what I feel may be valuable to you all. It is up to you to filter through everything and take it for what it is worth. I wish the best for everyone, even those that disagree with me.

This message is not just for you, @IzhakHaim, but for all readers, so do not take it personally!


Last edited by rocksolid68; September 7th, 2016 at 03:47 PM.
The following 17 users say Thank You to rocksolid68 for this post:
 
  #34 (permalink)
Membership Temporarily Revoked
Boston, MA
 
Futures Experience: Intermediate
Platform: NT7
Favorite Futures: CL, RB, LE
 
Posts: 264 since Apr 2014
Thanks: 102 given, 174 received


rocksolid68 View Post
... I wish the best for everyone,...

As a quick side note, I do not believe you on that statement. I am now craving, like really bad, Girl Scout cookies. Like, a LOT of them. This is not fair. So if you really wished us best, you would have not used cookies in your analogy. *shakes fist at rocksolid* Damn you!

Rofl. Sorry, being silly in your journal. I'm always trying to have a bit of levity. Maybe one day I'll chase you with NYC pizza when I get my own journal back on track.

But seriously, a nice tactful response by you to "naysayers" out there. Kudos man.

K, we now return to the regularly-scheduled journal already in progress. Arg. Sorry!


Last edited by HoopyTrading; September 7th, 2016 at 04:06 PM.
The following 5 users say Thank You to HoopyTrading for this post:
 
  #35 (permalink)
Market Wizard
Duluth MN
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra Chart
Broker/Data: AMP
Favorite Futures: ES
 
rocksolid68's Avatar
 
Posts: 1,019 since Jan 2015
Thanks: 1,316 given, 2,651 received
Forum Reputation: Legendary


moofty View Post
Hey Alex,
Thanks for the very informative post.
Do you have anything interesting on your correlation charts? this something i have not looked into.....yet.

Hey @moofty, sorry for the delayed reply.

I had been meaning to reply sooner, but alas..

So, correlations! Longer-term correlations are something that someone on FIO should do a webinar on... hint hint @tigertrader....

I am not 100% sure what you are asking, so forgive me if this does not provide the answer you hope for! Here you go:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



So, as you saw this morning, I was bullish. I was buying as the market was down. I was confident I was correct this morning because of these correlations.

Bonds, gold, and USD were all pointing towards a very bullish ES today, yet, the ES was lower in the morning. Weird huh?

Crude oil was down as well. Crude oil was dictating the ES a fair amount today. So, when CL finally caught a pop higher, I knew ES was already primed for a break higher, so I was ready.

Summary:
-Bonds, gold, and USD all looked bullish for ES
-Waited for oil to release its bear grip on ES

The following 12 users say Thank You to rocksolid68 for this post:
 
  #36 (permalink)
Elite Member
rutherford NJ
 
Futures Experience: Intermediate
Platform: Sierra Qtrader
Broker/Data: Amp and Optimus and CQG
Favorite Futures: Mainly NG Some GC, ZS,CL
 
Posts: 378 since May 2013
Thanks: 295 given, 137 received

Overall question on strategy and your turning point

Hi Alex
Your intro says quite young.. not sure what that means.. but you share a wealth of info and seem to be well on your way to mastering this ... so wanted to ask u

So first THANK YOU for all your insight (even if u are really young)

a) did u post somewhere your strategy or charts or indicators on how u take trades? would be interesting to at least get a glimpse IF you would like to share

b) What would u say were some of your turning points to you becoming a successful trader? and i am assuming that means full time?

regards
J

The following 6 users say Thank You to jokertrader for this post:
 
  #37 (permalink)
Elite Member
Sydney, NSW Australia
 
Futures Experience: Beginner
Platform: Ninjatrader
Broker/Data: Ninja broker/ Continuum
Favorite Futures: CL/ES
 
Posts: 102 since Aug 2014
Thanks: 72 given, 160 received

@moofty, sorry for the delayed reply.


Thanks , great explanation I will definitely start looking into this when I start trading the ES.
Do you see any advantage in using correlations if you were trading the CL or does it have a mind of its own?

The following 3 users say Thank You to moofty for this post:
 
  #38 (permalink)
Market Wizard
Duluth MN
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra Chart
Broker/Data: AMP
Favorite Futures: ES
 
rocksolid68's Avatar
 
Posts: 1,019 since Jan 2015
Thanks: 1,316 given, 2,651 received
Forum Reputation: Legendary


jokertrader View Post
Hi Alex
Your intro says quite young.. not sure what that means.. but you share a wealth of info and seem to be well on your way to mastering this ... so wanted to ask u

So first THANK YOU for all your insight (even if u are really young)

a) did u post somewhere your strategy or charts or indicators on how u take trades? would be interesting to at least get a glimpse IF you would like to share

b) What would u say were some of your turning points to you becoming a successful trader? and i am assuming that means full time?

regards
J

Hey @jokertrader, thanks for stopping in.

As far as age goes, I do not think that it would be fair to discount intuition and knowledge for youth.

As Vladimir Lenin said, "There are decades where nothing happens; and there are weeks where decades happen."

Sure, I wasn't a pit trader that has been in the business since the 90's, but what I am is a trader that has dedicated his life to learning this stuff for the years that I have been exposed to it.

When I am at school, what was I doing? Reading about the Fed's minutes and how their words can affect the market.
I am at home laying in bed and I end up staying up till 1:00 am reading a book about how the 1929 crash created more millionaires than ever before in history. Heck, Colonel Sander's started serving fried chicken at that time.
When I am driving, I am listening to podcasts about the market or interviews with traders.
When I am eating breakfast, guess what I was doing? Reading. When I am at the desk, I am grinding through FIO, charts, and readings. I was reading PDF's from JP Morgan about cross-asset allocation and the business cycle.

What I am trying to say is that even though I am young, I may have spent more time with this stuff than some of you have spent in your lifetime. Most of you have families, a job, and other priorities. You can only dedicate a little bit of time to this. Of course some of you are just as crazy as me

As far as how I take trades is going to have to be a different post. It is not a simple subject

Major turning points? Getting rid of the clutter, being consistent, stop blaming everything else for your failure, and learning how to manage trades.

More on these things later.

The following 14 users say Thank You to rocksolid68 for this post:
 
  #39 (permalink)
Market Wizard
Duluth MN
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra Chart
Broker/Data: AMP
Favorite Futures: ES
 
rocksolid68's Avatar
 
Posts: 1,019 since Jan 2015
Thanks: 1,316 given, 2,651 received
Forum Reputation: Legendary


moofty View Post
@moofty, sorry for the delayed reply.


Thanks , great explanation I will definitely start looking into this when I start trading the ES.
Do you see any advantage in using correlations if you were trading the CL or does it have a mind of its own?

The problem with CL is that it is its own beast. CL is dictated by the USD, however, CL is dictated by supply and demand. It is a commodity, right?

But the key is realizing that the supply and demand of the commodity is all a matter of perception.

Oil supplies are down? Who cares, this thing is going to tank. "CL down 4% on the day on speculation of Iran not decreasing output"

CL is dictated by news and supply/demand speculation more than most other things you can trade. I think that for most beginning traders, ES is the best route. CL is too crazy for most beginners.

I hope this helps

The following 7 users say Thank You to rocksolid68 for this post:
 
  #40 (permalink)
Market Wizard
Duluth MN
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra Chart
Broker/Data: AMP
Favorite Futures: ES
 
rocksolid68's Avatar
 
Posts: 1,019 since Jan 2015
Thanks: 1,316 given, 2,651 received
Forum Reputation: Legendary


No Pre-Market Analysis today!

ECB is talking and contract roll-over day. I do not want to trade today.

I wish the best for everyone that is though

The following 5 users say Thank You to rocksolid68 for this post:

Closed Thread



futures io > > > How I Trade For a Living

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

July Journal Challenge w/$1100 in prizes from TopstepTrader

July
 

An Afternoon with FIO member Softsoap

Elite only

Battlestations: Show us your trading desks and win $750 in prizes

August
 

Extended Ask Me Anything w/Brett Steenbarger

Elite only

Prototyping Python Strategies (part 3) w/Ran Aroussi

Elite only

Brannigan Barrett w/Axia Futures

Elite only

Introduction to Phillip Capital futures brokerage services

Aug TBD

How Monte Carlo Analysis Can Help Your Trading w/Kevin Davey

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
I love trading for a living Jdesey Beginners and Introductions 4 September 11th, 2015 12:38 PM
living as a nomad TickedOff Off-Topic 23 April 1st, 2015 02:28 AM
Living in Gratitude rahulgopi Psychology and Money Management 2 February 27th, 2015 07:23 PM
One-fifth of US children are living in poverty kbit News and Current Events 0 September 13th, 2012 09:37 PM
after 5 years' day trading, what else can i do for a living? chiplee Traders Hideout 3 September 13th, 2011 05:04 AM


All times are GMT -4. The time now is 10:49 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, 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
Page generated 2017-07-23 in 0.15 seconds with 20 queries on phoenix via your IP 54.156.78.4