Dark Theme
Light Theme
Trading Articles
Article Categories
Article Tools
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)
Updated January 27, 2019
Top Posters
looks_one
budfox
with 49 posts (14 thanks)
looks_two
tturner86
with 18 posts (64 thanks)
looks_3
tigertrader
with 10 posts (190 thanks)
looks_4
Big Mike
with 8 posts (42 thanks)
Best Posters
looks_one
tigertrader
with 19 thanks per post
looks_two
josh
with 7.3 thanks per post
looks_3
Big Mike
with 5.3 thanks per post
looks_4
tturner86
with 3.6 thanks per post
trending_up
44,634 views
thumb_up
481 thanks given
group
33 followers
forum
148 posts
attach_file
12 attachments
December 10th, 2014, 12:42 AM
virginia
Experience: Intermediate
Platform: ninja
Trading: NQ
Posts: 6,098 since Jun 2009
Thanks Given: 877
Thanks Received: 8,090
budfox
Big Mike
OK I cannot take it any more. You even got someone else to pay your Elite Membership!
..................
Can you help answer these questions from other members on NexusFi?
Best Threads (Most Thanked) in the last 7 days on NexusFi
December 10th, 2014, 03:06 AM
Toronto
Experience: Beginner
Platform: Sierra
Broker: MB
Trading: ES
Posts: 313 since Jun 2013
cory
lol I dont get the NInja? (PM me)
December 10th, 2014, 04:17 AM
Philadelphia
Experience: None
Platform: corded black telephone
Trading: ticker tape
Posts: 2,894 since Apr 2012
Thanks Given: 1,683
Thanks Received: 3,681
I think it's safe to say some trades(threads) are better off not taken. Oh but I think I just jynxed myself
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
December 11th, 2014, 11:07 AM
Bodoe , Norway
Posts: 143 since Jun 2014
Thanks Given: 846
Thanks Received: 129
@ budfox
Have you checked out "forex tester 2" , I did purchase it and it has helped me thrust my tradingsystem. Much better than any book I invested in.
FT71 's webinars have helped me think about how I can make things work out the way that suits me best. A big thank you to FT71 & Big Mike for doing them.
One advice I was given by Walter Peters has been good :
First step -> test your system with the forex tester . Then you will have a clue if it works or not. and you will gain confidence in it.
Second step -> trade demo account until you have trippled your demo account.
Third step -> Go live with a small part of your money. when you have successfully trippled the small account you can move to next step.
Step Four-> you can now trade live with your full size account that you have been saving until you proved to yourself that you were able to trade consistently profitable for a long time .
This is the path I'm at... step 3 now.
December 14th, 2014, 04:52 AM
West Java
Posts: 145 since Apr 2014
Thanks Given: 143
Thanks Received: 123
January 8th, 2015, 04:16 AM
Geelong Victoria
Posts: 113 since Jan 2015
Thanks Given: 45
Thanks Received: 92
tigertrader
@
budfox
my most profound piece of advice is not to look at the market in the same way as everyone else looks at it. do not read the same books on trading as everyone else, and certainly do not trade as everyone else trades. if your inputs are the same as everyone else's, you will have no advantage as a trader and your results will be the same as everyone else's. you will operate with the same heuristics and have the same predictable
biases that emanate from those heuristics. and, do not
determine honestly, what style of trading I am most suited for ! instead determine what style of trading is suited for making the greatest amount of profit under the current regime and market conditions.
OBSERVE the market and its attendant
price action . markets are complex adaptive systems, which by nature are non-linear and obscure cause and effect. therefore, it is impossible to predict what is going to take place in the future. nevertheless, when you see something occur you are going to create a narrative to explain what happened -and you will probably be mistaken. cnbc does this on a daily
basis and is wrong on a daily basis. so, the trick is to see the market, for what it is, and not what it appears to be. this skill takes years and years of screen time observing the markets, and one's approach to trading has to be constantly updated and modified as the markets change. this is why you will not find the answer on how to profit from trading in any book. as soon as it would be uncovered it would be obsolete.
i personally, never read books on trading. instead, i like to read books on decision and game theory. this helps me to be aware of the factors that distort my judgement. one must be able to eliminate the deleterious effects of emotion, stress, and
bias in the decision process otherwise one can throw all one's methodology out the window.
from a previous post of mine...
aside from being under capitalized, the biggest mistake aspiring traders make, is underestimating the amount of knowledge and deliberate practice required to become a successful full-time trader. for some reason, they assume trading is different from other performance related activities, and that they can read a book and step right into the market and make money. unfortunately, this is about as naive as someone sitting down at a table with poker pros, after playing a only few hands online, and thinking they're going to be competitive. ironically, the market and vegas have more in common than one might think. they were both created by the top-feeders for the sole purpose of taking advantage of the bottom feeders. the only real difference is in vegas you get free drinks. the narratives that are used to sell the dream are the same; and like all good narratives, there is just enough of a ring of truth to them, to make them believable. inevitably, they always appeal to our intellect and emotions, yet they only exist for the benefit of those who would like to take our money. understand this very salient fact and you will stand a much better chance of succeeding.
know you have enough Money - if you don't have enough capital to begin with, you're finished, before you started.
know the Market - the trader who has the better (more complete) and more timely (current) analysis will enjoy the greatest edge and have the greatest success- if you don't believe that a comprehensive knowledge of the market is important, you're well on your way out the door.
know your Methodology -it's taken me 8 years of trading electronically (after having been a professional trader for +30 years, to reach my current level of competency. if you truly believe, that you can compete against the most sophisticated traders in the world by drawing trend-lines and channels and employing anachronistic trading methods, you're sadly mistaken, and soon to be broke.
know how to Make-Money - there is a big difference between knowing how to trade, and knowing how to make money. the latter is about doing whatever it takes to get the job done. it's about trading the right markets, in the right ways, for the right reasons. in other words, you don't trade a market , because you like its trading hours; you choose to trade a market because its the best vehicle for making the most money. and you trade it in the way, that affords you the highest probability of making the most money.
know yourself & your Mentality - there are a variety of different stressors, emotional/personality flaws, and biases, that effect a trader's ability to make objective decisions. be smart enough to know you're dumb enough, that you don't know everything. The successful performances are those that really aren't about you- don't let who you are get in the way of your trading success.
one last general piece of advice - consider the source of the information you seek. as daniel patrick moynihan once said, everyone is entitled to an opinion, but not their own facts. most books geared to the retail trader, are out-dated, irrelevant, ineffectual and misguided - and quite frankly, so are most of the posts you read on this forum. once again, everyone is entitled to an opinion, but only a few posters on this site are sufficiently qualified to render one. you can also choose to try to show everybody how much faith you have in your own methodology, even if it's never been profitable, or you can use the forum to learn from others who have actually been successful. if you really want to learn, find ways to assess information systematically and surround yourself with experienced, knowledgeable, and proven people, who will challenge your opinions; even when they tell you something you don't want to hear..
Well said, certainly sage advice, it's amazing how these opinions will be derided and ridiculed on some sites. To succeed at this business the list of required attributes is almost endless, with rational independant thinking at the head of the list. I've found my greatest edge to be my 30+ years as a businessman, trading is about money, when it involves money then success will always be about business, not the latest indicator/method. Cheers John
January 8th, 2015, 04:51 AM
Philly, Pa
Legendary Market Wizard
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
Posts: 6,482 since Jul 2010
Thanks Given: 6,662
Thanks Received: 36,261
Johno1
Well said, certainly sage advice, it's amazing how these opinions will be derided and ridiculed on some sites. To succeed at this business the list of required attributes is almost endless, with rational independant thinking at the head of the list. I've found my greatest edge to be my 30+ years as a businessman, trading is about money, when it involves money then success will always be about business, not the latest indicator/method. Cheers John
thanks, mate. still never met an Aussie i didn't like... -g
December 18th, 2015, 11:03 PM
Buffalo NY/USA
Experience: Beginner
Platform: TC 2000, NinjaTrader
Trading: Forex
Posts: 1 since Jan 2015
Thanks Given: 0
Thanks Received: 1
I'm a long time lurker, first time poster. I'm new to futures trading.
@tigertrader : your posts are extremely well thought-out and intelligently written. They have increased my big picture understanding of the futures market.
@tturner86 : I've read the first few pages of your journal. It looks good so far! I'm interested in reading more.
I'd like to thank not just those two, but everyone who took the time to post something constructive in this thread. Your efforts and advice are much appreciated.
January 27th, 2019, 03:47 AM
MONTREAL
Posts: 5 since Jan 2019
Thanks Given: 0
Thanks Received: 4
I've been at this for two and half years now.
And still not profitable. Yet I know of someone who is making good money after six months.
Damn ! but I'm not giving up
Last Updated on January 27, 2019