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)
I think you misunderstood me or maybe i was not clear enough. To be a moocher bar is quite high and include
1) Following someone for years and never ever hitting a thanks tab. In my previous journal of around 560,000 views, i am aware of certain characters who been coming to my journal for years and never hitting thanks tab. It just makes me wonder about the person.
2) Not making any kind of contribution at futures.io (formerly BMT) forum whatsoever.
3) Troll around futures.io (formerly BMT) for years and worry about if it's woth spending $100 ( or whatever fee is) to support Mike efforts by becoimn Elite member.
Maintaing a journal requires lot of time and effort. Not everyone has time or as you said ready or feel comfortable. Absolutely nothing wrong with that. Lastly, do not feel you have nothing to contribute here or at futures.io (formerly BMT) in general. Everyone has something to share. futures.io (formerly BMT) has 100's of forums from picture of the day to song of the day and everything in between. If you start a journal and ask for help- i guarantee there will be plenty to help.
Can you help answer these questions from other members on NexusFi?
call your data provider/broker and ask for help regarding market internals and google for further explanation. Both NYSE and NASDAQ. For ACD- read Mark Fisher book. Following link provides intro.
I have been day trading full time for 3 years. First 2 years stocks and E-mini with little success. Finally, i found a method which suits my style and i have been day trading Crude Oil for over a year now. My trading method is based off Mark Fisher ACD …
There are no market internals for CL, Nat Gas etc. For CL DOE report on wednesday at 10.30 am eastern time is an indiactor. I have never looked at the report and no need to.
I watch as to how price behaves after the report. OR for that day is extended to 10.45 am eastern time. For me to be bullish on CL, it needs to trade above OR. If not , i short it on failed A up.
That's why i say it's easier to trade index futures when market internals line up.
i am idendified with this, and i write in my journal that i stop to trade because i realize of this behavior and close account and stop, i think in april
now i am reassuming the learning process more part time
i was wodering if this time will be different.
alejo
La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
" am idendified with this, and i write in my journal that i stop to trade because i realize of this behavior and close account and stop, i think in april
now i am reassuming the learning process more part time
i was wodering if this time will be different.
alejo"
In my previous post where i shared market internals for 2 different days. One for longs and one for shorts. If you make a RULE that you will only trade with trend and once direction is clear you will notice the difference.
Most of the days it just noise and it requires a different set of skills to trade nose. I know certain traders who only trades when direction is clear and they do very well. This way one has less trading= less stress= more profits.
Couple of years ago, i was trying to work with some traders in terms of how i use Simulation in Supercharging learning. None of them could sustain intensity, dedication of my training sessions. Considering that i already had 2 years ahead start on them in terms of learning, it just amazed me that they will not commit to practice sessions. Traders who were good with programing, back testing etc were especially not interested in practice sessions. They will just run back testing and come back every day thinking they can trade. Based on their own feedback they still are struggling. To be fair it seems one of the main reason they could not practice was due to lack of free time after they were done whatever else they wer doing to earn a living.
By Brett Steebarger
Training Traders: The Role of Simulation in Supercharging Learning
A recent research report suggests that computer simulations can be as effective as direct observation in education. Simulations have long been used in medical education to help students learn the skills of physicians. Simulations are also standard in training airline pilots and in preparing for war scenarios. By trying out moves against a computer, developing chess players can work on various aspects of their game.
When I directed a training program for new traders at a prop firm, we found that simulated trading using live market data was especially helpful in preparing traders for shifting market conditions, dealing with uncertainty and risk, and making rapid decisions. Interestingly, we also found that when simulations were graded and reviewed by an instructor, they also incorporated some of the performance pressure faced during actual trading. If a trader knows that he has to sustain profitability in simulation mode before trading live, the simulation begins to simulate the emotional elements of trading.
Simulation, however, entails several advantages over live trading for training purposes:
1) Simulation allows traders to make mistakes and try out tactics without losing money early in their developmental processes;
2) Simulation allows for more focused learning, as traders can replay aspects of the day to rehearse trading under specific conditions;
3) Simulation provides standardization in learning, as trading days can be archived and traders can practice trading specific kinds of market conditions from the archives;
4) Simulation enables traders to get more learning into a day's period than would be possible during live trading, as many days' worth of experience can be concentrated into a single training day.
5) Simulation offers an objective test of traders' skills. If a trader cannot be successful in simulation mode with live market data, surely he will not succeed under the more strenuous conditions of having real money on the line.
A number of trading platforms and programs offer a "replay" mode that can serve as simulation-based learning for traders. By replaying challenging periods in the market, traders can observe mistakes that they made and correct them before the next day begins. That supercharges learning.
In my book Enhancing Trader Performance, I devote considerable space to the topic of simulation. My conclusion: "Research and experience suggest that the single most important investment you can make in your trading development is the acquisition of software that will allow you to develop your own training program and drill the skills that are central to your trading niche" (p. 100).
The great weakness of most "training" programs for traders is that they provide information, rather than develop skills. Information is necessary but not sufficient for the cultivation of expertise. Learning about chess or about surgery will not, in itself, create a chess champion or an elite surgeon. We can learn a great deal of information about football, but remain unable to master the game.
There is a very straightforward formula for success across performance fields: find the performance area that best matches your interests and talents; engage in structured practice under safe conditions to master the skills that are components of success; engage in realistic practice to assemble those components into actual simulated performances; and then tackle real-world performance situations with ongoing feedback and efforts at improvement.
Traders don't fail because they lack the right setups or because they weren't born with the right trading personality. Traders fail because they do not survive their learning curves: they put their capital at risk long before they have developed necessary skills and expertise. Simulation-based learning is a way to accelerate that curve and reduce the costs associated with the inevitable mistakes made by learners.
It was just a matter of holding and trusting +ve market internals. Did not matter if one is trading TF,NQ, ES or YM. 11 am eastern time- when up march started. There were longs and longs. All one had to decide as to what size to put on and sit back.
As usual traders keep mucking it up by focusing on ticks when market is giving 10-18 points. If the move is 12 points and one is just happy with 60 ticks etc. it's no way to trade. Forget about "Trading in the Zone" you are not even on the pitch.