Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Hi, yea sorry for asking this but I am very tire searching to learn strategies, DTA wants 5k, a lot of scams, book in kindle. I am not looking for a miracle winning strategy, I understand risk factors and all the basic of futures, ticks., most of the indicators. I earn some money on ninjatrader replay market, but I am not constant, I end up losing money(100-200) and pay commission. I just need a base so I can build my style. I have a full license of Ninjatrader, elite membership here. Any recommendation, books, video, PDF. I am about to retire from the army after 20 years and I am 36, I have a couple injuries so I can't do heavy work and I love trading. I appreciate the help.
Can you help answer these questions from other members on NexusFi?
One of the most helpful videos I could recommend is probably "An Afternoon with Big Mike", found in the Webinars section of the forum. It contains a lot of wisdom as well as some of the rollercoaster rides every trader has invariably gone through.
The webinar section is full of material by the way and I would say it's a great place to start.
Hi, Thanks!! I start already with Price Action with brooks. I will watch that one after this one. I also read lots of threats in the forum. I am finding very good info. Do you have any recommendations for Price action?
The forex guy ( dale) is where I learned my Price action skills from at the time the course/chat room was cheap I have no idea what it costs now but he put about 20+ chapters together that are filled with great info.
( not affiliated at all!)
I still use almost everything I learned from there to this day.
-P
"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
Personally I have not read any books about price action.
The very best advice about price action I was ever given is: just find a market you are comfortable in and spend lots of time in front of the screen simply watching how that market moves. Nothing beats personal experience.
There are platforms like NinjaTrader where you can even use Market Replay, which means you can replay a given market in a given day over and over again. That can help too.
Just to add to this; your goal with accumulating screen time is to understand market behavior and dynamics. You can accelerate this process by doing the following;
Each day that you watch the screen find 3-5 questions that you want to answer about why the market might have done what it did. Write them down.
End of your trading session this becomes your research homework, find a way that you personally can answer these questions. This might require getting comfortable with Excel or even learning a little bit of Ninjascript.
The important factor here is that you come up with the answers, and not just take someone else's research. These will become your truths that you will be able to lean on while in a trade.
Well spend 10,000 hours watching a trading screen and you will have spent 10,000 hours. Spend some time with those who can explain what is going on and you will get an education.
Free and fast.
From a market maker's point of view, about 5 minutes recap of prior day and overnight plus comments about how the prior day plan had zero relationship to reality (or was right on) Futurestrader71 9 AM you tube session.
Abbreviated in print version of the same thing Dionysian Toast market prep right here in the journals.
A 20 to 30 minute bar by bar pointing out the good and the risky shorts and longs in the ES from a scalper's point of view is Mack at PriceActionTradingSystem.com on youtube four evenings a week.
I am sure there are others as well but this crowd does not pose with a rented Lambo and a rented bikini model while bragging about what you will l;earn from them.
So turn off the TV and don't spend money on magic beans.
Also it would be good, on a day when your head is clear and your emotions are smooth to find Dr. Van Tharp's free trader profile personality test. It is on his web site somewhere. Standard stuff "what would you rather do..." but you get a computer scored answer matching your answers up to about 20 different "trading personality types" including a few where he says you don't have what it takes. Yes lots of people don't think these things are any good but it is way better than your self selection of a style that sounds good. If your mental tools don't match the job you are trying to do it isn't going to work. And if you get pointed to a style that fits you maybe it will be a good fit.