Andrew Menaker Trading Psychology - Vendors and Product Reviews | futures.io
futures io futures trading


Andrew Menaker Trading Psychology
Started: by futuretrader Views / Replies:4,463 / 20
Last Reply: Attachments:0

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

Reply
 
Thread Tools Search this Thread
 

Andrew Menaker Trading Psychology

  #1 (permalink)
Elite Member
Milan Italy
 
Futures Experience: Intermediate
Platform: Ninjatrader, Sierra Chart
Favorite Futures: ES
 
Posts: 521 since Feb 2010
Thanks: 469 given, 623 received

Andrew Menaker Trading Psychology

There's a new free webinar by Andrew Menaker available here:

Trading Psychology Trading Session: The Missing Piece to the Trading Puzzle - You! - Trader Kingdom

I've seen several of his webinars now, and they are all very good. I think this one is the best summary.

Reply With Quote
The following 5 users say Thank You to futuretrader for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary 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.

 
  #3 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/Rithmic
Favorite Futures: ES, NQ
 
trendisyourfriend's Avatar
 
Posts: 3,633 since Oct 2009
Thanks: 2,950 given, 4,385 received


Thanks for posting the link. I think we all strive to minimize the level of uncertainty around our analysis but in the end it's a futile quest. Once we embrace it we look at markets with a new perspective and horizon. When i started trading i was looking for confirmation before placing a trade nowadays i know this confirmation element is not necessary and can even be detrimental. It has changed the way i look at things even my own strategy. When you no longer need 'confirmation' because you know the uncertainty will always be present you become free to look at price action in a different way and simplify your approach. I'll watch this video later on today.

Reply With Quote
The following 7 users say Thank You to trendisyourfriend for this post:
 
  #4 (permalink)
Make it count
Vancouver, Canada
 
Futures Experience: Beginner
Platform: SC
Favorite Futures: Guitar
 
traveller's Avatar
 
Posts: 118 since Mar 2012
Thanks: 222 given, 176 received


trendisyourfriend View Post
Thanks for posting the link. I think we all strive to minimize the level of uncertainty around our analysis but in the end it's a futile quest. Once we embrace it we look at markets with a new perspective and horizon. When i started trading i was looking for confirmation before placing a trade nowadays i know this confirmation element is not necessary and can even be detrimental. It has changed the way i look at things even my own strategy. When you no longer need 'confirmation' because you know the uncertainty will always be present you become free to look at price action in a different way and simplify your approach. I'll watch this video later on today.

Wow this is a pretty powerful statement. In my own trading I use a system of waiting for demand or supply to show up in strength on one side or another, before entering- Im not far from the bottom of a push but I still wait for some confirming action. It would be great if you could elaborate or point me in a direction where I can expand in this direction through threads, books etc

Great Post I will be thinking about this for a while!

I don't mean to be taking over this thread in any way- so feel free to bump me off!

"Train yourself to let go of everything you fear to lose."
-Yoda, Star Wars Episode III Revenge of the Sith
Reply With Quote
The following user says Thank You to traveller for this post:
 
  #5 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/Rithmic
Favorite Futures: ES, NQ
 
trendisyourfriend's Avatar
 
Posts: 3,633 since Oct 2009
Thanks: 2,950 given, 4,385 received

Futures Edge on FIO

What value do you place on the webinars on FIO?

 

traveller View Post
Wow this is a pretty powerful statement. In my own trading I use a system of waiting for demand or supply to show up in strength on one side or another, before entering- Im not far from the bottom of a push but I still wait for some confirming action. It would be great if you could elaborate or point me in a direction where I can expand in this direction through threads, books etc

Great Post I will be thinking about this for a while!

I don't mean to be taking over this thread in any way- so feel free to bump me off!

I was somewhat disappointed by the presentation. I thought there would be some practical ideas but instead it was more of a teaser for a course the author is selling. I understand the marketing aspect since it is free but nevertheless i would have liked to go with something more tangible.

Regarding your comment, i still need to see strength on one side or another before taking a new position as i mostly trade the pullback that occurs after witnessing some range expansion. The difference is in the fact i don't wait for some order flow signal in the form of a bar closing in the direction of the BO or a footprint or T&S pattern as element of confirmation. I do filter the type of range expansion i see to minimize losing trades and the level i identify as beeing more likely to revert price in the BO direction. It is nothing fancy and this particular phenomenon occurs every day. It's in a way similar to a pattern of divergence. Not all divergences are good to take. You need to apply some filter and measure your success accordingly.

Reply With Quote
The following user says Thank You to trendisyourfriend for this post:
 
  #6 (permalink)
Elite Member
denver, colorado
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: ZS
 
Surly's Avatar
 
Posts: 704 since Mar 2011
Thanks: 628 given, 1,236 received


traveller View Post
Wow this is a pretty powerful statement. In my own trading I use a system of waiting for demand or supply to show up in strength on one side or another, before entering- Im not far from the bottom of a push but I still wait for some confirming action. It would be great if you could elaborate or point me in a direction where I can expand in this direction through threads, books etc

Yes, TIYF makes a great point. Another way of saying this may be - no matter where you enter, no matter which direction - your trade will always have the element of uncertainty. Waiting for "confirmation" is really an illusion to some degree. Let's say you are waiting for a level like yesterday's high to enter - you wait for price to get there and then you wait for the "confirmation" of price making some kind of pattern near that level for you to be confident (usually this involves some form of price going in the direction you want to trade first). You then enter. The idea that this "pattern" or "price going in your direction first" provides certainty (confirmation) is mostly an illusion - no matter what reason you have to enter there will always be uncertainty. Yes you can create consistency in your approach and backtest, etc but the uncertainty will not go away. Best to embrace it and manage your risk, trade frequency, and position size accordingly.

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
Reply With Quote
The following 4 users say Thank You to Surly for this post:
 
  #7 (permalink)
Elite Member
Milan Italy
 
Futures Experience: Intermediate
Platform: Ninjatrader, Sierra Chart
Favorite Futures: ES
 
Posts: 521 since Feb 2010
Thanks: 469 given, 623 received


trendisyourfriend View Post
I was somewhat disappointed by the presentation. I thought there would be some practical ideas but instead it was more of a teaser for a course the author is selling. I understand the marketing aspect since it is free but nevertheless i would have liked to go with something more tangible.

Regarding your comment, i still need to see strength on one side or another before taking a new position as i mostly trade the pullback that occurs after witnessing some range expansion. The difference is in the fact i don't wait for some order flow signal in the form of a bar closing in the direction of the BO or a footprint or T&S pattern as element of confirmation. I do filter the type of range expansion i see to minimize losing trades and the level i identify as beeing more likely to revert price in the BO direction. It is nothing fancy and this particular phenomenon occurs every day. It's in a way similar to a pattern of divergence. Not all divergences are good to take. You need to apply some filter and measure your success accordingly.

Yes, his videos do tend to do that, and probably the course is to some extent a teaser for private consultations. I still thought it was a good presentation.

I've followed more or less the same progression you speak of in terms of waiting for confirmation - essentially preferring information risk to price risk. I also do it with reversal levels, when you enter directly against strength, though of course one time frame's reversal is another time frame's pullback.

Oddly enough, that's how I started trading in equities. It has taken me a long time to get to it in futures.

Reply With Quote
The following 2 users say Thank You to futuretrader for this post:
 
  #8 (permalink)
Make it count
Vancouver, Canada
 
Futures Experience: Beginner
Platform: SC
Favorite Futures: Guitar
 
traveller's Avatar
 
Posts: 118 since Mar 2012
Thanks: 222 given, 176 received


futuretrader View Post
There's a new free webinar by Andrew Menaker available here:

Trading Psychology Trading Session: The Missing Piece to the Trading Puzzle - You! - Trader Kingdom

I've seen several of his webinars now, and they are all very good. I think this one is the best summary.


trendisyourfriend View Post
I was somewhat disappointed by the presentation. I thought there would be some practical ideas but instead it was more of a teaser for a course the author is selling. I understand the marketing aspect since it is free but nevertheless i would have liked to go with something more tangible.

Regarding your comment, i still need to see strength on one side or another before taking a new position as i mostly trade the pullback that occurs after witnessing some range expansion. The difference is in the fact i don't wait for some order flow signal in the form of a bar closing in the direction of the BO or a footprint or T&S pattern as element of confirmation. I do filter the type of range expansion i see to minimize losing trades and the level i identify as beeing more likely to revert price in the BO direction. It is nothing fancy and this particular phenomenon occurs every day. It's in a way similar to a pattern of divergence. Not all divergences are good to take. You need to apply some filter and measure your success accordingly.

Thank You for your answers this idea of information risk vs Price Risk. You bring up some valid points- I am definitely waiting for certainty- I think this is probably related to the need to be right. Hmm that is going to be a tough psychological issue to break.

I agree with your sentiment of the webinar... I think his redeeming feature is that he presents the ideas:

The idea of engaging in actions that make you a better trader. Not every action is going to make you a better trader, however in total they bring about a winning trader rather than a winning system.

The traders that can tolerate discomfort are the ones that are going to win in the market.

Among others

"Train yourself to let go of everything you fear to lose."
-Yoda, Star Wars Episode III Revenge of the Sith
Reply With Quote
The following user says Thank You to traveller for this post:
 
  #9 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/Rithmic
Favorite Futures: ES, NQ
 
trendisyourfriend's Avatar
 
Posts: 3,633 since Oct 2009
Thanks: 2,950 given, 4,385 received

There is nothing wrong in waiting for confirmation, the way i see it when i trade a breakout (range expansion)+pullback+continuation pattern is that i don't wait for confirmation when price pulls back to a predetermined level and a pending limit order is waiting to be filled since i consider i already got enough confirmation from the range expansion signal itself. I agree there is some discomfort when you see price move toward your pending order as you don't know with certainty if it will revert there or go and hit your stop loss. All i know is that on a large number of occurrences it has worked well within the space of positive expectation.


traveller View Post
Thank You for your answers this idea of information risk vs Price Risk. You bring up some valid points- I am definitely waiting for certainty- I think this is probably related to the need to be right. Hmm that is going to be a tough psychological issue to break.
...
The traders that can tolerate discomfort are the ones that are going to win in the market.

Among others


Reply With Quote
The following user says Thank You to trendisyourfriend for this post:
 
  #10 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,027 since May 2012
Thanks: 1,194 given, 1,280 received


Has anyone done Andrew Menaker's advanced course:
Services | PopDoc Trader

I've always liked Dr Menaker's webinars and so im considering his course. He certainly has all the relevant credentials in terms of his career and the fact that he actually trades.

My main concern is how much info is in his course that isn't already available in the hundreds of free webinars he has done. I would hate to go through the course and end up only hearing a few minor aspects that he hasn't already talked about in prior webinars.

I've never paid for any trading related courses, rooms etc. If I am to purchase something, I figure a detailed and thorough course on trading psychology from a well respected professional in this field will be the way to go.

Any thoughts? Experiences?

Thanks.

Diversification is the only free lunch
Reply With Quote

Reply



futures io > > > > Andrew Menaker Trading Psychology

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Spring Grains Outlook w/Sean Lusk @ Walsh Trading

Elite only

FIO Video Journal Challenge featuring NinjaTrader ($2,000+ of prizes)

April

Process above all else w/Anthony Crudele @ Futures Radio Show

Elite only

Machine Learning - Quantitative Trading w/Martin Froehler @ Quantiacs

Elite only

Market Dynamics w/Peter Davies @ Jigsaw Trading

Elite only

Ask Me Anything w/Patrick Rooney @ Trading Technologies

Apr 18

Ask Me Anything w/FuturesTrader71

Apr 19

Machine Learning w/Kris Longmore

Elite only

Market Analysis w/Dave Forss

Apr 25

Introducing iSystems with Stage 5 Trading

Apr 27
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Andrew Menaker Advanced Course? Radman00 Vendors and Product Reviews 2 May 3rd, 2014 08:16 PM
Is Trading Psychology a Hoax? aligator Psychology and Money Management 140 May 5th, 2013 04:41 PM
Swing trading with Andrew's Forks and volume analysis bayfisherman Trading Journals 52 November 25th, 2012 03:11 PM
Trading Psychology Self Assessment dee50 Psychology and Money Management 7 May 21st, 2012 03:50 AM
The Psychology Of Trading? NYSE Psychology and Money Management 7 November 21st, 2010 09:30 PM


All times are GMT -4. The time now is 09:08 PM.

no new posts
Page generated 2017-03-29 in 0.16 seconds with 19 queries on phoenix via your IP 54.157.3.92