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In a recent survey about webinars, a lot of members expressed interest in learning more about the elusive "price action" that many traders talk about and refer to.
It is my intent with this thread to try and document price action from my point …
Dear all,
My name is Jack.
I have joined futures.io (formerly BMT) for about 2 weeks now, there are just so much information, experience and knowledge for me to pick up! What a great forum! I want to thank Mike for putting this together. Despite my previous role of trading for banks, it's a totally different ball game while trading all PA now.
In a short 12 months, I have been frustrated, depressed, confused by a neg PNL, then sometimes enlightened by a positive PNL. The cycle goes round and round. I am pretty sure that this is a similar story for many of us. I hope I can find some confidence back in trading and finding trading methods which gives a good odd.
I am not a programmer; at least I haven't programmed anything since college days. Perhaps I should pick up programming again so i can contribute more here.
Take care and speak soon!
Jack
jack, very sympathetic with what you went thru, wish everyone did not have to go that route and routine.
from where i am, i say you need to take a good look at your TRADING PLAN before anything else. and i do not mean the kind of trading plan that says--i want to make as much money as i can and as soon as i can.... LOL
that is not the trading plan that most of us use for trading here. it is more like a wish list of sort.
search out 'trading plan' and you'll find out exactly what a trading plan should constitute, k?
if you feel comfortable to share YOUR OWN TRADING PLAN with us, many profitable traders here, am sure, when they are not trading would be happy to lend you a hand.
Sure - first thing -
1 - tell me what you know about technical trading so far.
2 - Show me the main trade chart you use for your trading, and descripe 2 strategies you know of.
3 - tell me a bit about yourself, your purpose for choosing this method for making money over another, and your goals for this endeavor.
A few things you need to accept:
This is going to take time.
You are going to have to do some serious study and work.
You will need to keep accurate records and meet statistical performance minimums.