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Hey everyone really appreciate having a community of traders on the internet, im excited to start reading threads and gain some knowledge from the other traders.
Personally im an event-driving options trader and have been trading since my teen years, which were not that long ago lol..
I have ran up my account pretty high, but have also blew it up a few times lol and im currently trying to get some consistency in my game
My name is Mr. Kneeland, and I am most certainly glad to join this forum.
I contemplated starting off my introduction with listing all the most influential books I've read in acquiring knowledge about stocks, but i feel it is sufficient to say that I have read over 100 books about trading (a few that influenced my trading, and a LOT that were garbage), and instead, wanted to talk about my quest for knowledge.
I've played poker (as an amateur) to supplement my income (after about a year of study), and was marginally successful, but my wife disapproved of the life style (since members of her family had gambled to the detriment of their families). I sought out a method to invest my hard earned wages into channels that would allow growth of my income (realizing that there are no easy ways to "get rich"). I started reading everything I could get my hands on about trading.
From back in the day to present, I've worked in customer service (my favorite job was a baker in a grocery store), but I spent my free time devouring every book about trading (using a popular online merchant's ratings for books as a benchmark).
I've never blown up my account, because every time I have saved up the money to open up an account, something came up that required me to spend the cash on a need for my family (a blessing in disguise.)
Long story short, I gave up on searching for the "holy grail indicator" (after looking for 2 or 3 indicators that would be in agreement about price action) and decided to learn about price action.
I've read all the books about price action (especially the taylor method, fibonacci retracements, Gann method, Al Brooks, and a few others), and I continue my quest for knowledge about price action.
I read the download for YTC (your trading coach) and wanted to know about his style, but wasn't going to fork up $297.00 for it (I paid $8 for it)
I found it for real cheap (he actually allows you to reprint it without profit), but read it and got some great info about price action.
So all that aside, I have a job that allows me to flip through charts in my down time. I can flip through s&p 600 and draw (what I think to be) support and resistance levels for weekly charts, and analyze the daily action on those level.
Again, I'm not live trading these levels, and I know that it may be time prohibitive to flip through all these charts for another trader, but there is a moral for this story.
"thirst"... To be a successful trader, you must "thirst"for knowledge. You have to read everything; books, forums (This site is great!), everything that you can get your hands on (God bless the library {especially intra-library loans}), and decide for yourself. This is the part where most people would solicit advice, but I know that the best solicitations would be made on the elite boards (which I will subscribe to when I finish paying my daughters graduation fees...).
Damn, this is longer than I expected it to be, sorry!
If you're looking for a method, (on any time frame with any instrument), that will free you from your crappy job, you WILL fail. The goal should be to invest the extra money from your job to build wealth. Once you are successful in growing your savings from your crappy job, you can consider trading for a living (If your family can survive for a year if you blow out your account)
A smart restaurateur will plan on paying all his/her bills (including household expenses) for a year without a dollar of revenue. You should do the same,,,,
Hi everyone, I'm Ira and I used to day-trade the S&Ps profitably when it traded in nickels - less so with the advent of the big chunky moves of the e-mini. I had a very small account, withdrawing so much each month to live on that I simply couldn't grow it. And, as I did not have the margin to trade the big S&P, and trades either didn't trigger and profits diminished with the e-mini, other opportunities beckoned and I left it alone. I am now nearly retired and trading my IRA account with the spxl and spxs stocks (only 3x leverage) and find that the 30-minute and the 60-minute seem to work well with my system - but I have only a bit of data to really test and convince myself.
What would be ideal would be some file of raw data for the SPX index (or the SP or ES) that stretches back at least 5 years. It could be in any time increment that would let me create the 30- or the 60-minute bar from it. Ideally, it would be translatable to a spreadsheet, ie, .xl, .txt and probably even other formats.
If you can, help a trader out. Glad to become acquainted with you all. Cheers, Ira
Feel like I'm still a babe in the woods. Have been paper trading with ToS via TDAmeritrade since Jan '15, almost back up to where I started. Learned a lot, long way to go to make this a replacement for income stream. Currently work from home as consulting engineer, helping out rural communities with design/permitting of new waterlines, pump stations and water storage facilities. After reading "Rich Dad - Poor Dad" I realized I was not going anywhere and would not be able to provide for my children to the extent I feel necessary without taking some chances. With the high amount of leverage and my eye for picking out patterns, I thought this would be the most logical choice. Hopefully I can alter my behavior to a sufficient degree to become a successful trader. Have a goal to make 10 days in a row with 10 ticks a day on one contract before going live with NinjaTrader.
I am a re-newbie! I traded quite a bit a few years ago but hacked to death during the collapse in 2008-09 and gave up trading (had been trading for about 5 years at the time) - I went from Pongor the Slightly miffed to Pongor the Disgruntled. I have decided to try dipping my toes into trading again.
Currently just using a ThinkorSwim paper account, due to me having an account with TD Ameritrade.
Previously I used TradeStation and traded commodities, E-mini, mini-Gold, mini-Oil, Soybeans, Wheat and some currencies.
Thats about it, hoping to learn from the community who are obviously better traders than I am and hoping to get some help with learning think script.