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Hello, I just signed up for this forum while doing some research into a trading company that I am learning to day trade from (I won't mention the name because I have already seen you guys destroy the company on these boards and I can accept that I paid some money to learn the hard way).
I've only started about 3-4 months ago and was sim trading with the last few weeks I moved into real money trades which haven't been successful.
I'm just here hopefully to learn more and become successful. I trade the ES and working on trading full time.
Everything I have learned aside (since you guys have stated the system I am using now is shit anyway), where do I go from here? Should I forget everything and start over? My understanding is that day trading is all based a lot on indicators. Is this true? Are indicators overvalued or actually crucial? I feel I am able to read the market but of course need an edge. Do you have any recommendations to help me go in positive direction for trading the ES?
Thank you for your time.
Can you help answer these questions from other members on NexusFi?
This is a great place to learn. I have benefitted from the folks here tremendously and have recently transitioned from SIM to skin in the game. There are several successful traders that frequent the boards here. They have no profit motive and the forum rules try to encourage being nice and being honest. Sometimes in the spirit of being honest, some of the advice can be a bitter pill but please try to look past that to the underlying advice.
For myself, If I find that I've been heading down a wrong path, it makes sense to cut losses. So, consider monies spent as tuition and move on. Many here will say that there is no indicator that will give you an edge. The edge is you, figuring out what works for you, and using indicators to help spot your setups.
Take a look at the Adam Grimes webinar for starters and read everything on this forum that you can access. If you find value in that, then consider the Elite membership. It's more of the same but there is a lot more access to webinars and additional forums. Most of the active forums are open to all however so dive in. I spent a month reading and accessing what I could before deciding to go to Elite level.
From my POV, the main info that you can gather here is: There is no magic, You need a good sized account, Start with a small lot size, don't use leverage, work hard, try not to give all your money to the brokers.
Welcome! And don't mind them. Everyone has an opinion, what they forget to remember that they all went through several different methodologies before they settled on the one they trade now and everyone is at a different level. If you learned and feel you got your value, by all means! Also, look around at other methods, don't be afraid to adjust (not invent a new wheel that is, but adjust) to what works for you. There may be indicators you read easier than others and that's purely you, understand it and love it and use it!
