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Hello to futures traders, I'm new in here and hope this blog is what Big Mike envisions it to be because I feel I share the same vision....I love to trade, I love being a trader, but most of all I love and respect the truth...Trading is not easy but it can be simple, especially with the help of others...I remember asking a trader psychologist once why she picked traders brains?...she replied; "because there are no other people like traders on the planet"...she went on to say that we don't need phD's or a degree in astrophysics, but it does require a specialized set of skills most of which are specific to the individual trader...with that being said, I can only hope that my opinions may help others and that others may help me in my journey to continued success in trading...Happy hunting...
I am a member here since Feb 2017 and started to learn DayTrading in September 2014 by attending the Master in Trading course of the Ontwaakte Trading University of Chris Boon. Chris Boon is a Dutch Trader and Trainer, but mainly a very good Trader. He learned me how to develop my own trading system, risk management, position sizing and traders psychology.
It took me a lot of chart time, research, decision making etc. to get to the point where I am today.
In July I joined the Journal Competition and I ended in the Top 3. Joining that competition helped me a lot to get myself through a difficult phase in my trading 'career' because I was at a point that I wanted to quit.
My biggest challenge is keeping trading simple and be very good in executing of my trading plan.
For those who like to see how I trade:
I enjoyed this story George. How are you doing now all these years later? I
I started trading on spreadbetting and long investment positions about 7 years ago while I was also running my own company. I loved it however I did not have the time to work intraday trading spread betting but was more comfortable taking long investment positions - knowing what I didnt know in order to be successful at day trading.
Trained with a great prop firm over a year ago and decided to go full time intraday trading. Using CGQ and a great broker I did pretty good. I was really enjoying trading and executing on the charts, but still had a lot to learn. Aggressively reading all books that I could find or that people mentioned were great for certain aspects of trading. Far beyond Reminiscence of a stock operator. The main thing is, is that I enjoyed and was trained to take position trades intraday, no overnights.
After taking a 40% drawdown over 3 days, I came home and applied to a very reputable prop firm, did an interview, a test and got an offer. Now I am looking forward to learning a great deal more and improving sustainably.
Hi all,
I have been taking investment positions for about 8 years and doing good. In 2016 I decided to leave an industry I did very well in starting a few companies and get trained properly in intraday trading.
Training was very good from a reputable firm not a get rich quick shop.
Didnt manage to stay on with that firm as the focus was not to create traders for the firm but more just provide good education.
My results were good in training on live and sim trading, so I decided to take 15k of my own and start out with CGQ Futures pro for charts and data and execution with RJ O'Brien as my brokers.
I was trained to read charts, do great technical analysis on the charts and with a heavy focus on fundamentals. So I would say I am 50/50 technicals fundamentals trader.
After about 3 months I had maintained a 1.7 sharpe ratio, 54% win rate and was taking in about 1k/1.5k a week.
Then it happened- the inevitable drawdown. I did something stupid and had an opinion on oil over an opec announcement to the 9 months cuts. I was on holidays at the time and decided to get out the laptop and trade the event. It was stupid on so many levels, but the main ones were that A: I was off my game been away, so in a different state of mind, not reading the news enough, not tuned in enough, and B: I took an opinion on the direction WTI would move on the back of certain announcements.
Anyways, the drawdown was 40% of my book.
So I brushed this off and when I got home from holidays I applied to 3 prop firms. I got an offer from 1 that wasnt great on splits and commitment and got an interview with the other. After 1 interview and 1 simple math, stats probability tet I got an offer from this very reputable prop firm. Definitely not a mill or arcade.
So now I am a trainee and loving it. However I am faced with learning to execute on the ladder and scalp. only use charts for reference. The emphasis is on scalping and not on positions.
I am not sure how to approach this change other than have an open mind and enjoy learning about scalping and ladders.
Is there anyone out there who had moved from position trader to ladders? That change of how to look at the market?
Thanks all.
Hello Ive been a subscriber to Big Mike/Futuresio for a long long time...periodically reading posts, mostly to check out thoughts/reviews of vendors. Finally said to myself, why am I not checking in with others on this site? I started about 8 years ago, buying expensive software and taking their training. From there I went from guru to guru, spending more money. Learning a few things but mostly just getting churned and burned. My journey has taken many twists and turns. Blown up accounts. Live trade. Sim trade. Study. Live Trade. Sim Trade. Ive refined my trading over the years. Taken a little from here and added a little from there and added to my own experiences. Presently I am a live trader, working a small account and trying to carve out a profit each and every day. It's tough as hell. The threat of ego driven incorrect trades placed or stops moved is ever present. Vigilance, focus, discipline, adherence to a rule sheet, trade execution. Margins in futures may be great but the error margin is tiny. I trade mostly NQ and EMD. I follow the ES, CL and YM....looking for any other traders that would like to team up in some fashion either thru email or skype to see if we can make each other better traders.
Hello I have been following Ron's and myrride's postings for a while. Great educational tools. I am looking for to trade full time and would like to hear from those who do it full time. what is your work day like? and how do you stream line vigilance, focus, discipline while adhering to your rule sheet.
Thank Bob
starts early in morning two hours before the open
take a look at the indexes and instruments you will follow that day...mark up levels
Daily, hourly, 15 minute
Each to their own. My chart during the day is 15 minute for overall
I use two minute and five minute then for entry areas and reactions off the prescribed levels
From there I use two different size Renko charts to pinpoint entry.
For indicators I use MACD and an oscillator on the renko charts. On the Minute charts no indicators, except for
a peak at moving averages
the indictors are confirmations, not creators of trades. There has to be a directional bias created by levels.
levels are created by previous price points, fibs, channels, etc
I look for a move out of an area in my selected direction...a pullback and then an entry. I dont take the first move.
I want the trend confirm, then a pullback within the trend and look for resumption for entry..second wave attack
as for focus......it's up to the individual. Quiet time, if not some sort of meditation before trading helps. And during trading, elimination of outside stimuli such as smartphone, tv, email. Sounds easy but when the market just sits for ten minutes, checking in on what's the latest thing Trump said or who is playing who tonite can get the better of you.
The best way to introduce myself is to share my LinkedIn Profile
linkedin.com/in/eli-weiss-90aa01141
Been around the block more than just few times.
Drove few account to a Complete $0.
I like to trade the ES and the NQ but did try the Currencies Gold and Oil few times just to get the kick of it.
Like most of us I try to show that I am smarter than the market
That did not happened in the last 30 something years I am trying and frankly just the opposite.