How I Trade For a Living (Page 44) - Trading Journals | futures.io
futures.io futures trading
 

Go Back   futures.io

> Futures Trading, News, Charts and Platforms > Trading Journals


How I Trade For a Living
Started:August 30th, 2016 (10:48 AM) by rocksolid68 Views / Replies:48,922 / 662
Last Reply:November 7th, 2016 (02:55 PM) Attachments:94

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • 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, and we will never resell your private information.

-- Big Mike
     

Closed Thread
 94  
 
Thread Tools Search this Thread

How I Trade For a Living

Old October 30th, 2016, 10:57 PM   #431 (permalink)
Elite Member
Melbourne, Australia
 
Futures Experience: None
Platform: Acme VP & MP, Jigsaw
Favorite Futures: FESX FGBL
 
Zefi's Avatar
 
Posts: 89 since Dec 2014
Thanks: 52 given, 92 received


bobwest View Post
I can't answer for Alex, of course, but I think that trying to get a good understanding of how he trades, and why, and how he looks at the issues you are raising, via these written forum posts may not be the best idea.

I completely understand about the time difference and the difficulty it presents to you. However, his room is only open about 2 hours or so, from 8:00 to 10:00 (sometimes a little later) AM US Central Time. If I've figured out the time zones correctly, that would be from midnight to 2:00 AM AEDT. (Apologies if I didn't get it right. )

I think that if you could manage to stay up late for a couple of nights in a row to attend, you would get a much better sense of what he thinks is important, and what he is doing, than any number of text exchanges here. (You can pose questions live in the room, too.) A few nights would probably answer all your questions, and then you could go back to having a full night's sleep.

My take from reading your posts is that you are coming at the issues from a very different perspective (tight fixed stops and targets, focus on risk, etc.) Not wrong, just different. Actual demonstration of what he is looking at may make it much simpler to understand. I may not be correct about the difference, if any, of course.

There's nothing wrong with the fact that your two viewpoints may be different, but the best way to understand it is to see it.

Just a suggestion.

Bob.

PS, I used the time zone calculator here, Chicago, Illinois US to Melbourne, AUS: Time Zone Converter ? Time Difference Calculator

Double check me on both the time and day of the week before sacrificing any sleep.

Thanks Bob for the suggestion.

I would like to attend Alex's room and at some point I'm sure I'll be able to do, however at the moment I have early morning commitments to attend to every weekday and for I'm sure you're all aware of, trade reviews, journaling, stats building takes up a HUGE amount of time during the day. Time really is money in this game and so is sleep!

I do agree with you all on the lines of needing to experiencing Alex's style in order to learn and a discussion on a forum won't give you probably half of what you'll get in the (audio/visual) flesh. However I don't see the harm in getting a written explanation of his strategy on a thread for thousands of others to see in the future and possibly learn a little from.

     
The following 3 users say Thank You to Zefi for this post:
     

Old October 31st, 2016, 10:00 PM   #432 (permalink)
Market Wizard
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
wldman's Avatar
 
Posts: 2,055 since Aug 2011
Thanks: 966 given, 2,566 received
Forum Reputation: Legendary

Hey Alex

@rocksolid68

I remember one of the days I stopped by your room I wanted to see what or if there was an actual method being traded. That is to say something rule based versus something totally discretionary. The reasoning is that I find myself going back and forth between discretion and method. The transition is usually violent.

My push for method is motivated by the notion that a low latency old market maker can somehow code 20 plus years of experience into a grey/black box. I am certain that it can...but not by me, alone, and not now. When I back off a hierarchy of non-colinear indicators and just trade what I see, I have way more fun. It is easier for sure. Results are about the same.

So I was wondering why and how you started to jettison items from a typical view to parse things to what you share now and if "the light went on" before or after you did that? Perhaps that was the light that went on?

I'm asking because I'm trying to decide if this will be a vocation (with associated expectations) or a hobby (without any real expectations) Likewise I wonder how you view your future in trading, vocation or vacation. Thanks for whatever you want to share.

Dan

     
The following 8 users say Thank You to wldman for this post:
     

Old November 1st, 2016, 01:49 PM   #433 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,543 since Jun 2009
Thanks: 28,886 given, 80,129 received


Moderator Note


Hi,

I've created a bit of a monster here in allowing @rocksolid68 to promote his room against my better judgment.




I am sorry for being such a pessimist, but my experience of running this forum for 7 years has taught me that it is required. So many vendors come on here and lie through their teeth it's unbelievable (what's more unbelievable is the amount of inexperienced rookies that fall for what they say). They get banned and then they go bad mouth me or the site elsewhere, because they were exposed here. It's part of the job of running the forum.

I now fear that the decision of allowing @rocksolid68 to promote his room on FIO was a massive mistake on my part. I've strongly disliked what I've seen and his actions, and after spending some time today reading through some new items that were sent to me I think it's best to just end it.

I know from experience there will be a group of people that think I'm wrong. But FIO as it exists today is built on my following my gut feeling and trying to do the right thing. I make mistakes. I don't always get it right. But my gut feeling tells me to end this here and now.

So, @rocksolid68 is now banned. This thread will stay open for a short period so the community can discussed what happened. Then it will be closed.

I can repeat everything I've said above in different ways and from different points of view, but the bottom line is I am doing what I think is right. Thanks for your understanding.

Let me put a few things below:

You can spend a lot of time going through it, as I have. Also take note of @rocksolid68's association with GTR (he worked for them). He also made promotional posts on FIO about GTR, without disclosing his vendor status.

https://tradingschools.org/reviews/school-trade-sideways-markets-update/

Search for "Alex" and read through the lengthy comments. Some are below.

Some more comments here:
https://tradingschools.org/reviews/open-range-trading/

Some on FIO:
https://futures.io/vendors-product-reviews/28876-simon-jousef-s-gtr-trading-room-2.html#post496088

https://futures.io/vendors-product-reviews/28876-simon-jousef-s-gtr-trading-room-4.html#post502837

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

     

Old November 1st, 2016, 02:37 PM   #434 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, CL
 
Posts: 3,472 since Jan 2013
Thanks: 24,898 given, 10,559 received
Forum Reputation: Legendary

Sigh.

I read as much as I could stand of the material that @Big Mike referenced before I had to stop.

I would not have called myself an "inexperienced rookie", but it seems I was.

I did believe that he was legit. I didn't have an interest in trading his way, but I assumed from what he posted that he was successful. Sometimes, in the room, the trades worked out; other times he would come into his thread on FIO after the room was closed and said they had worked. Since I am an inexperienced rookie, I believed it.

Maybe some of what he has posted, here and there on FIO, was indeed real. I think a lot of it made sense, on face value. Maybe he isn't a bad trader. I realize now that I don't know, because I simply accepted what I read.

I guess that what I took to be brash and youthful enthusiasm was just promotional big talk. Even the title of the thread initially turned me off, but I put that aside.

Honestly, it will take a while to get over the bad taste, as well as being pissed about being taken in. I am not happy about this, but life goes on.

So, thanks Mike, you did what needed to be done.

Bob.

     
The following 10 users say Thank You to bobwest for this post:
     

Old November 1st, 2016, 02:56 PM   #435 (permalink)
Market Wizard
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
wldman's Avatar
 
Posts: 2,055 since Aug 2011
Thanks: 966 given, 2,566 received
Forum Reputation: Legendary

You know...

Futures Edge on FIO

Are you a NinjaTrader user?

 
I thought that might happen. Initially I did communicate with @Big Mike that I thought this was a risk. Alex did not exhibit the personality of someone that was duplicitous or selling something...legit or not. I liked the kid. The last post I made here before the "ban" was to determine if Alex was "hireable" down the road. I did find that the trade commentary was somewhat vague at times but the trouble for me is that the "trade types" were not consistent. That is not necessarily a harbinger of something bad...but I was shocked that someone with so little relative experience could have developed a "gut" for ES and price action. I was starting to believe that this was a real talented kid...but like bids and offers they come and go. So the jury is hung indefinitely....ultimately I support Mike and the great job he does here. I wish Alex all the best as well.

wldman, of course would appreciate any thoughtful response to the above mentioned question.

     
The following 8 users say Thank You to wldman for this post:
     

Old November 1st, 2016, 02:58 PM   #436 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,543 since Jun 2009
Thanks: 28,886 given, 80,129 received


bobwest View Post
I would not have called myself an "inexperienced rookie", but it seems I was.

Don't kick yourself too hard. I allowed him to continue, after all, which was the biggest mistake of anyone here. But now it's over.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

     
The following 4 users say Thank You to Big Mike for this post:
     

Old November 1st, 2016, 03:04 PM   #437 (permalink)
Market Wizard
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
wldman's Avatar
 
Posts: 2,055 since Aug 2011
Thanks: 966 given, 2,566 received
Forum Reputation: Legendary

Nah...Mike


Big Mike View Post
Don't kick yourself too hard. I allowed him to continue, after all, which was the biggest mistake of anyone here. But now it's over.

Mike

Your handling of the entire situation was keen, effective and fair.

@bobwest you also have no reason to be reticent. Everyone looks for dialogue that is interesting and that supports their own interests. It is not like the bullshit meter was off the charts. Kind, interesting and respectful...the kid had that down.

     
The following 7 users say Thank You to wldman for this post:
     

Old November 1st, 2016, 03:15 PM   #438 (permalink)
Market Wizard
Missoula, MT
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader
Favorite Futures: CL, ES
 
michaelleemoore's Avatar
 
Posts: 2,104 since Nov 2012
Thanks: 3,475 given, 6,705 received
Forum Reputation: Legendary


wldman View Post
Your handling of the entire situation was keen, effective and fair.

@bobwest you also have no reason to be reticent. Everyone looks for dialogue that is interesting and that supports their own interests. It is not like the bullshit meter was off the charts. Kind, interesting and respectful...the kid had that down.

Well put, Dan.

     
The following 8 users say Thank You to michaelleemoore for this post:
     

Old November 1st, 2016, 03:16 PM   #439 (permalink)
Elite Member
Los Angeles, CA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: YM
 
Posts: 83 since Dec 2011
Thanks: 191 given, 124 received

Oh wow!
So sad. I kind of liked it in his room.
I also assumed that he is trading live, since he has so many posts here and seems like he was well respected by other members of FIO.
But he is young, I hope he will learn from this experience.

Tough job you have Big Mike.
But I do wonder if it would be possible to have some kind of chat room, like for example SPOO thread, but in chat form. Checking forum for posts is not very efficient in terms of dialogue, it is not two way conversation.
Since trading sometimes is quite lonely...

     
The following 2 users say Thank You to sagor for this post:
     

Old November 1st, 2016, 03:17 PM   #440 (permalink)
Elite Member
Australia
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Futures
 
Posts: 38 since Dec 2014
Thanks: 8 given, 29 received


I am lost

I am a newb trader but not a newb at life.

I have not been sold anything or had anyone try and sell me anything and I would be the target audience? What was the scam? Have others been approached for $$$?

     
The following 2 users say Thank You to fiftyeight for this post:
     

Closed Thread



futures.io > Futures Trading, News, Charts and Platforms > Trading Journals > 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)
 

NinjaTrader 8: Features and Enhancements, Tips and Tricks

Dec 6
 

Al Brooks: Stop Losing when a Good Trade goes Bad, Correcting Mistakes

Elite only
 

Trading Technologies: Algo Design Lab hands-on

Dec 13
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
I love trading for a living Jdesey Beginners and Introductions 4 September 11th, 2015 01:38 PM
living as a nomad TickedOff Off-Topic 23 April 1st, 2015 03:28 AM
Living in Gratitude rahulgopi Psychology and Money Management 2 February 27th, 2015 08:23 PM
One-fifth of US children are living in poverty kbit News and Current Events 0 September 13th, 2012 10:37 PM
after 5 years' day trading, what else can i do for a living? chiplee Traders Hideout 3 September 13th, 2011 06:04 AM


All times are GMT -4. The time now is 06:11 AM.

Copyright © 2016 by 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 2016-12-06 in 0.16 seconds with 20 queries on phoenix via your IP 54.158.157.24