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Have to say this forum has proved a very valuable resource over the years.
Every time I had difficulties with part of my trading systems I always found answers and help here in this community. Must admit i forgot about the rebranding and was confused when another google search for answers brought me back here.
I've been trading actively for around 2 years. Mostly jumping from one strategy to another, still trying to identify comfort levels and focus in one specific direction. Would like to thank Mike and the community for their continued support.
Thanks,
Andrew
Can you help answer these questions from other members on NexusFi?
The rule states that 90% of retail traders lose 90% of their capital in the first 90 days of trade.
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Hello All,
Am a newbie trader based out of India and my only achievement so far is that I outperformed the above rule by losing 90% of my capital in seemingly less than half the average time taken.
I started off with INR 100K which was reduced to 10K (Nov15) largely by following tips (*sure shot calls*) from "so called" reputed brokerage firms who apparently hire 100s of trained analysts and Industry experts and who claim will always have an edge over any average investor/trader.
Anyways, in the process of giving away so much capital, while I largely felt stupid, I learnt a few things and think it might be OK to share :
1. Never follow calls by brokerage firms or any one who is not trading the position with you. They don`t get it
2. Trading is like a signature - its unique to each person and reflects the summation of all of ones learnings and experiences
3. Trading is the truest test of objectivity - take decisions when you are up for it
4. The beauty of trading is the flexibility it offers, you don`t have to always trade - Use this flexibility to your advantage
5. You will never fully understand the market. You will get better at it - but you will NEVER understand something so complex and so beautiful at the same time
6. Timing is everything
7. Maintaining perspective under pressure is everything
8. Once you have learnt the basics of charting (or even some advanced concepts) you will find yourself working on yourself rather than charts. You will realize that the charts play out as planned - its you, who often falters
9. Stick to the trend - Don`t try and act smart or cute or whatever -else you will lose
10.Money management is highly underrated but super important. Understand the lot size in the market (L) and your SL (S) the product of (LXS)n (where n = number or Lots you intend to trade with) should never be more than 2% of your capital. You need atleast 50 attempts to trade
Trading is not a zero sum game but a negative sum game and therefore loses are inevitable. But for your growth as a trader it is importatnt that only YOU lose your money and not some brokerage firm, lame tips or news doing the losing for you.
I believe writing before taking your trading decision helps. I decided to blog my entries on a free platform (blogger) with the sole idea of recording my emotions and the reasoning behind each trade action. The blog tracks my thoughts, my trade action, my gains and losses. But it is reviewing the content end of each month or after a significant trade action I learn so much more. I encourage traders maintain their notes/blogs and for reference traders can visit my blog
sahilrohmehtra.blogspot.in or sahilrohmehtra.blogspot.com
(I dont remember which one it is - lol)
Note : I dont get paid for visits, or clicks or anything. This is just my trading diary uploaded online.
The recent fall across global indices happened to find me in the correct time with Short Positions, and after over 3 months of grinding it out I have finally gained 10x my capital thereby breaking even. With this capital and newly acquired technical skill sets I will try to expand my horizon of trading by trading many liquid markets - Commodities and Forex in addition to the NSE (Nifty-50 India).
I will need some luck and loads of good wishes - I wish the same for all.
Hi my name is Worstebrood (on the forum that is) and I am from the Netherlands.
I started trading indices and forex through a CFD broker a couple of years ago. Now I am trading futures with the Ninjatrader Brokerage and their platform. I am following a nine month trading course and some day I will trade for a living (I am not hoping, I will make it happen ). Right now I am trading my plan and I am trying to trade as consistent as possible and reduce my mistakes. Trying to refine the few tools that I use.
Well, I hope to learn a lot from you guys on the forum. It is truly a great source of information and inspiration.
I'm currently working on a Combine with TopStep Trader. I basically trade ES, GC and CL and I use the Order flow Analytics software to help me find my entries and exits.
I began trading futures in 1995 and had to use the phone to place my orders then. I got my first computer in 1998 and at that time it was the fastest one available a whopping 333 MHz. TS was the only software available then so that is what I used. I used to think that it was all about indicators or thinking that I knew what the market had to do next but that was a big mistake and I paid for it with my accounts. At this point I try to let the market show me what it wants to do and then go with it. I watch order flow to confirm my decisions. I am happy to be part of the Futures.io community.
Hello,
I have been trading futures for about 2 years. Partially retired and essentially trading full time.
I really love the action and want to be more successful. Emini ES is what I am currently trading but kinda wished I
had selected something else since I am having so much trouble. I have always been a sales/people person and extremely emotional. I find this gets me into a lot of trouble. How can I fix this? Do I need to look at auto trading?
Hello everyone,
I'm Alberto from Italy, I'm following the futures markets from some time, and I'm now involved in the self learning process, doing some paper trading, and planning to start trading live sometime in 2016.
I'm focused mainly on FDAX, ES and 6E contracts.
Thank you Mike and all contributors for this great community.