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This place seems to be a good one as I am reading the threads more often. I might even learn something about coding. I have been trading for several years and using NT for about 3 years.
Can you help answer these questions from other members on NexusFi?
Thanks for getting this forum going. I run my own business and am dedicated to the full-time trading of energy and gold futures during the PIT sessions. I started off as a broker for a boutique futures firm almost a decade ago and then worked for a larger full-service broker for a couple years during the last bear market. Good times hahaha!
After taking a break for a long time I finally started getting into trading futures fror myself 2.5 years ago and have been learning and studying the markets ever since. It's been a bumpy ride until this year but I am excited to be a part of this forum and hope to share what knowledge and experience I have with everyone!
Hi All,
I have spent the last two years trying to learn how to day trade. I've spent close to 10,000 on chat rooms, indicators, and "systems". I spent almost 1+1/2 yrs coding ideas into Tradestation Easy Language. I switched over to NinjaTrader when my trading account went too low to trade 2 contracts at TS. I'm still learning and hope to someday be consistent and successful. Any one that would like to know what Not to do can feel free to ask me. Good Luck to all !
Certainly I've learned tons of "what I MUST NOT Do" in my trading venture too!
Now with a trading plan (equiv to a business plan and I specify what I will trade with max exposure and P/L) plus a daily game plan, I feel everything is in good control. I used some photo recipe templates to prepare the game rules and am pleased to share them here (without the photos).
They are posted on my trading monitors - great visual reminders for me! Hey, I also have a trading bulletin board with more trading rules in front of me (on a nice colorful poster design with our favorite vac photo). I am working very hard on developing this lifetime trading career. It's actually the key to our financial freedom.
Hi I have traded future stocks and options for 3 years and starting to get good at it. I am looking for maybe 5 people to trade as team [everyone on their own account] to keep focus and extra brain power on the trading contract or contracts. Must be good tape readers or have a system close to tape reading. Should be able to call trades and trade their own account. Must be trading for a living.
Here are a couple of don'ts I learned the hard way:
1. Don't use Limit orders in back testing - unbelievable results will be calculated.
2. Know how your trade platform handles Limit orders, if you plan on using them. Especially in Sim mode versus real $$ mode. (Tradestation bit me in the ...)
(NinjaTrader is more realistic.)
3. No matter how much sim practice I perform, when real $$ are on the line, I still screw up.
4. Don't risk more than 3% to 5% of your account on any one trade. (Preferably 3%)
Sounds like you're using Kwik PoP. I tried the indicators which were OK. I also tried the paid chat room - big mistake. (at least for me) The moderator was confusing and used his "experience" to decide which trades to take and which to avoid. I got tired of taking the wrong/losing trades and hearing how he avoided them - after the fact! Hopefully you are doing better.
Thanks hansonk for your advice. After going through 5 systems, I feel more comfortable with the Kwik Pop one as I can spot most of the signals myself (on sim right now). Since I am not a KP licence subscriber, I will not be considering the daytrading room ($250/month vs $159).
In addition to the KP indicators, I have added a few more to help me. For example, Ninja Price Action (downloaded from the Ninja Forum) which print HH/HL/LL/HL text on the chart, Chaos AC (momentum osc indicates a trend reversal), iADX, MACD zero lag and a tri-color indicator which I downloaded from Big Mike. My charts are a little crowded and I am still experimenting.
Plan to find the required indicators for an "All Your Need" chart during the holidays and see if I can learn how to trade with it. KISS (Keep It Simple & Stupid) will be great as I am a simple person .. smile ..
In any event, I will start doing a few real trades in January. A real test to my psyche and see if I can manage my trades.