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I first joined this forum after receiving a recommendation to do so from another trader. I was looking for information related problems with a brokerage/live feed.
I also watched an 2 hour video put on by Big Mike for a major software provider.
Then I received a message that I hadn't participated. Didn't realize it had been that long and I didn't read the instructions to begin with what was expected from members.
That said, as soon as I read Big Mike's example, I said, "that's me !" I could relate so much to what you said.
I started trading stocks in 1987 after the crash. I learned the Benjamin Graham/Warren Buffett value investment way and used Value Line religiously to select my stocks. I guess I was really an investor, not a trader. I made enough to buy a home in 1995. It felt good. I thought I had a great investment in real-estate. I soon learned your home is not really an investment. It was a liability.
In 1996 I started trading options on stocks. You just had to use call options on hot tech stocks, especially before earnings. When earnings came out, many had insane stock splits. I made so much money like Big Mike that if I told you how much you would start crying or simply not believe me. After the crash I blew up 80 percent of that account.
Waited because of fear, then got back into trading in 2003. But I believed a silly software system could turn my fortunes around. So I lost a another 30 percent before I said "enough."
In 2008 I started up again trading options on stock indexes. I made a comeback again when I bought a bunch of puts and had great timing for the 2008 crash. It was really luck. But the same problems still plagued me because I had no real trading system or plan.
In 2010 I decided to give futures a try. I joined a great organization that uses Quantitative trading. Best of all I now have a trading coach/mentor. But my broker was PFG and when they went belly up I started to wonder what in the heck I was doing. After a pause I realized it wasn't me so I've continued. I love the great leverage the futures markets offer with less risk in my opinion. Don't take me wrong, there's tremendous risk with any trading, especially if you do what I did for the first 15 years.
I heard Adam H Grimes state in a podcast recently, "If you want to be a successful trader, I believe you've got to think in mathematical probabilities." That really hit home to me.
Happy Trading
DC
Can you help answer these questions from other members on NexusFi?
HI Guys...I am new to the Forum and this is my first post.
Trading is made out to be difficult and there are more losses than gains but
I am trading now for 4 yrs and find that as long as you keep your expectations real and stick to your method,
you will achieve good results.
I am using my own system with good results..i return around 20% per month with some months more than 20%.
I would like to post my system here so that it can benefit other traders(as it does for me) and tested and improved upon further. is this allowed ( I am not selling any systems)
My name is Eddie and I am new to trading. The first thing I noticed is there are so many dishonest people in this business. All have a superior training program; just pay an amount of money and you will be a wealthy trader in no time. I know enough to realize this is not realistic. I have read several books and it is just an introduction to this challenging and difficult industry. Like a lot of other people, I was forced into an early retirement due to the slowing economy, so I set out to find a way to make extra money. This endeavor, trading, has proved to be harder than I could imagine. One thing I learned very quickly is one has to be patient and wait for the ideal setup, and then you have a chance to be successful, although there is no guarantee of success even in the ideal situation. If one is experienced and consistently earns, I can see where it would be an exciting and rewarding second career.
I hope to meet others in this forum that are in a similar situation to mine.
Good luck. Eddie
Hello everyone! I have been buying stocks for probably 10 years with that said, I can tell you I don't know what I'm doing.
This is my first anything that I have joined for stock trading. So eager to learn and glad to be here.
Trading experience: Started with trading stocks , then moved to GC futures . Currently in ES. Would like to do ZN, working on the strategies for that too. I see ZN is less volative than ES. I had several pauses in my trading activity trying to search for a direction. Currently in 5 - 10 pt range for ES . Would like to improve to 10 - 20 pt per day.
Big Mike has been a great source of help. Thanks for all of you.
My trading type: Chart patterns & Statistical ( intraday ); currently i do not consider Yesterday or the trend
Sucess rate: ok, trying to improve.
Weak points: Loose big on trend days. Need to work on the risk managment for my strategy
Looking for: Other alternatives of confirmation for trade entry and exit
Currently exploring: Market profile , volume profile & more statistics.
Mentor: None so far. Looking for one, not sure where to look for.
Trading room: None, looking for a good one, which complements my strategies.
Softwares: MC; exploring Investor RT for market and volume profile.
Other instruements : TF ( morning session ) & GC
Initial Goal: Autmated strategy for 1st 1 hr of RTH session.
Hello All,
Was just introduced to your site by a new trading friend. Am very new to trading, but would love to be able to make some supplemental income to start and then turn it in to a living in the new 5 years. Looking forward to learning from everyone on here! This looks pretty awesome! Thanks for making this possible.
Hello. I'm Ron. 68 yrs. old and interested in trying to find a way to learn the steps on trading. Where to begin, where to find information on what, where and when. I am having a problem with just my S.S. so I thought that learning how to trade would be a good way to supplement my income. After reading many many post and googling many sites it seems that it is one difficult task. So here I am trying to get a handle on everything. I'm so stupid I can't even set up ninja trader to work. How embarrassing is that? Pretty bad. I am here to plead with everyone that has knowledge of these steps to please tell me how to go about it. Thanks everyone. This is the most confusing site I have ever been on. I hope this is the correct place to be doing this.
I recently joined Big Mike's Forum looking for some opinions on trading software. I have been trading sim for most of this year and my focus is on futures. I feel that I am very close to going live, however, I am still struggling with what platform to use as IB is lame for charting and data. I'm hoping to connect with some like minded traders. To Big Mike: thanks for doing this for everyone, its a very useful resource with out all the marketing sewage. Well Done!