Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Great post! I have been trading for several years and I do not want to stop. there is obviously a lot of risks but also a lot of rewards. Thank you all for the site and all your time. This is amazing
Passion to the hilt, dedication, extreme perseverance to succeed against any and all odds. motivated like hell. Aware of Risk in markets. Greater awareness when to push and main and the most imp of them all is Execution.
when all the above is met.... one needs to then think of how the Zenith in Trading can be achieved. There is the word Possible in the I m Possible.
and understanding 1 thing in the markets which maybe working for you. And knowing that thing inside out.
I agree with the majority of what has been written. I have been trading futures for 21 yrs. I have spent most of those 21 yrs finding out what works for me. I've tried all sorts of indicators, time frames, markets, etc. As time progressed I slowly found out what works and what doesn't for me. It's been a long road which cost me a lot of money but I stuck with it because I love doing it. I finally have found out what works for me and it is vastly different and much simpler than all of the other things I've tried. Wish it hadn't taken so long but I don't regret a minute of it. Now I can just sit back and do what needs to be done to make back all my "educational expenses". No different than becoming a doctor or a lawyer I guess. You just need to stick with it-there is a very long learning curve.
CFDs have their own market makers/ECNs. Truly your broker will be the best source for that.
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
When you are first starting out, spend EVERY free moment you have learning. Yes, take care of the job. Yes, take care of family obligations. Yes, don't forget to mow the lawn. What I am talking about is all of that time that people spend playing Madden or watching Netflix or whatever activity people have that doesn't move them closer to their goal just stop it. I was up at 3 am yesterday (Sat) and today(Sun) working on improving my trading. Why? Can't do anything in the yard and everybody else is still asleep. No distractions. No interruptions. Just me and the computer and the simulator. What is most amazing about this is that I don't need to get up early. I want to get up early. I have multiple streams of income that keep me very comfortable in my life but even when I was working for a living I would get up early to learn. I had a job that I worked from about 6 am to 4-5 pm 5 days a week and some weekends when things broke. I would still get up at 2 am (so I could be fully awake before London markets opened at 3). I would trade for a few hours then go to work and after I got home and took a little break I was back at it for an hour or so. It was all worth it the day I handed in my resignation.
Get comfortable with being uncomfortable. Trading is tough mentally. It's easy to look back at charts and say "Oh, I would have taken that trade". It's when you are in the heat of battle with money on the line that you will figure out who you are as a trader. When you do figure it out is when you will begin to grow exponentially as a trader.
Time.... be patient. Doesn't matter your age. I have a friend who is a trader (stocks and options) that is 86. He mainly does it to keep his mind engaged and constantly thinking. He gives away all of the money (after taxes) that he makes trading. I asked him how long it took before he was making consistent money. He told me that time is not relevant. He was only concerned with getting better. He said if you get better every month or every year eventually you will become profitable. He said the toughest part is not measuring getting better in dollars and cents. He has had losing months where he felt he got better as a trader. Very detailed notes are the key (journal) along with managing risk.
Realize that a regular paycheck is the worst thing to have. It will only make you complacent and bind you to a job and a company that doesn't give a sh*t about you. No matter what they tell you to your face. I have seen it far too many times in my 52 years of life. They will tell you that you are important in one ear and remind you how easily you are replaced in the other ear. Doesn't matter if you are a trader, own a business or sell things on Ebay. Get yourself to where you are no longer reliant on other people for your success.
Stay out of debt. An old friend of mine once told me that management at the company we worked at just loved to see new cars in the parking lot at work. They referred to it as "velvet handcuffs". Read "The Richest Man In Babylon". Changed my life.
I could go on and on but it is time to get back to the charts and studying.