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E3rcís Journal, The Road to Success
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E3rcís Journal, The Road to Success

  #41 (permalink)
Thurmont, MD
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Favorite Futures: Emini ES
 
E3rc's Avatar
 
Posts: 39 since Jan 2019
Thanks: 4 given, 8 received

Well, I was barely into this new plan, and am not having the greatest confidence in it. Continuing down the path of simulation trading till I can "get good", the trades I took yesterday all didn't work for me either. Made 3 trades all looses, and now today I am looking at my screen and just cannot bring myself to hit they buy/sell buttons to see if I "get better". Right now I might be at that analysis paralysis phase, even though I haven't been documenting my trades all that long, these last 4 months (started learning to trade beginning of Nov) of just trying for force knowledge into the ol'noggin though repeated cranium desk interactions does take its toll.

As of now, I don't know where to go. Part of me thinks there is just something I am missing and that I need to go back an re-watch and re-read some things. Doing this does work, there are many examples of those who are successful. My brain is just craving some catharsis, that ah ha moment.

If you have read all my writing till now (or anything I write), I do thank you. I feel like I am just writing out what ever I observer and hope something clicks and makes sense. Hopefully what I am putting down doesn't read as being too whiny.

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  #42 (permalink)
Thurmont, MD
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Favorite Futures: Emini ES
 
E3rc's Avatar
 
Posts: 39 since Jan 2019
Thanks: 4 given, 8 received

It has been a couple of days since I have wrote anything. Though, I think the YouTube algorithm was feeling my pain too. Since, I was on a quest to get some insight or another direction to approach my desire, it offered up this video, from Anton Kreil. Which I sat though and was pushed even further into the, what is true anymore thoughts. I sat though his 2 hours spiel and of course the points he made had a nice logistical air to them. Which after a bit, a sense of enlightenment dazzled my brain. Dunno if the combination of reading about Futures Contracts and watching Adam Grimes course again has encouraged this rabbit hole venture, so here it is.

The business world does have its professionals and Anton Kreil did say some things that lined up with what I have already been learning from Adam. Though spending a minimum of $2K on a course is something I don't want to do, but I want the knowledge. Something clicked; college, that place where I spent a lot of money for knowledge and they point to legit sources. I queried up UMD school of Business (I remember it being touted as being good when I was there), pulled up their finance course and then looked at the undergraduate requirement list. A few courses stood out, BMGT442 Adv Portfolio Mgmt, BMGT443 Equity Analysis and Portfolio Mgmt, and BMGT444 Futures & Options Contracts. I felt like I was on the right track and then looked at their book requirements, the only one was BMGT 443 and it was a book with the name Valutation ISBN 9781118873700. Felt like I was already reading something about Futures, but this is legit knowledge to be read, for sure.

Now, that I think I was on the right path and in the world where you can learn just about anything for free I tapped into a source I used to help me with my Programming (Java, HTML, CSS, JavaScript) the MIT free courses. Which you can find here, another one that is helpful is Stanford which they have courses here. So, that is where my brain has been this morning and maybe this might bear fruit in my endeavors to make money with my money.

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  #43 (permalink)
Thurmont, MD
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Favorite Futures: Emini ES
 
E3rc's Avatar
 
Posts: 39 since Jan 2019
Thanks: 4 given, 8 received


In the spirit of continuing to make my journal entries and not to get lazy while learning. There are a few things that I am finding interesting as I continue my quest for knowledge.

Technical Analysis seems like a black art among the traders I have watched videos from or other information that is put out there. One instance i am reading about is chart reading and applying Trend lines, Fibonacci, and some other indicators and that they are applicable everywhere from time frames to what is being traded. Then I watch someone else and they say that is all crap and they don't work and using certain indicators at certain times is better. An example would be using a cross over signal to find trade entries, then switch to another type of indicator to manage the trade. It is interesting how traders find their edge.

I got into reading about Forex, since I haven't explored that area at all. Most of the information I come across the presenters are in the UK. Which I can see why considering how volatility with certain pairs happen more often in the times they would trade. Anyways, same scenario where one person will say it is a stable way to trade and that there is no one controlling the price and is not centralized. Then another will say that the Banks watch where all the traders are and will move the currency away from where a majority are. Such as at a certain price point, there is a ratio of 70:40 , it will more than likely move to the 40 side and take that money from the 70 side.

At this point, I am not watching the charts yet and am still info gathering. As I am seeing now with this information, why most if not all those who provide information say, you have to find what works for you. Anyways back to it.

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  #44 (permalink)
Thurmont, MD
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Favorite Futures: Emini ES
 
E3rc's Avatar
 
Posts: 39 since Jan 2019
Thanks: 4 given, 8 received

I have not given up on wanting to learn or the desire to augment my income. At this point, I don't think there is anything new I can add to what I have already written about. Though, the urge to write is strong and it is a good way to focus my thoughts.

Still watching a ton of videos, mainly any from the FIO trading webinars section. Then periodically jumping to recommendations that YouTube suggest if it seems relevant. Lately it seems like smaller traders have been posting about the real truth behind trading. Which, I believe is genuine as they talk about the loneliness of the whole process and the ways the try to augment their income with doing videos and merchandise sales.

The few videos or college lessons that I have seen, have given me some more enlightenment to try. Which will mainly consist of a lot of back testing to develop a system that will work for me. An example right now is trying to pair certain indicators that would point to a trade to try during certain market movements. Those market movements would be the larger overall movement not the small short time frames that can cause me twitchy reactions to things. Coupled with the idea that there are those push the market and they are after everyone's money, just have to figure out when they move and be on their side when they do it. Easier typed than performed, looking to start simulating again here soon. My problem is I keep flopping between Futures, Forex and Options now. I know I just need to pick one and learn that.

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