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Just agreeing with what was said. Go to you tube and look up PriceActionTradingsystems.com and watch a couple of "Mack's" (it isn't his real name) videos. He has what most consider the simplest price action system. Go watch some of FuturesTrader71 pre-market videos to learn something about why the market stops and goes where it does. Both of them specialize in working with newer traders. They will be showing you what stupid does. Maybe you are better that 99% of us, so never mind. But for all of us Average Joes listen to these guys as they explain the market through their lens every day. Not cherry picked examples and by the way no guarantees of endless profits after a week or two of special insider knowledge either. Good luck and good trading.
Thanks for the info! I will certainly check out the guys you have mentioned. I looked a little into Mack and John Grady. I'll dive in more and check out the others you have mentioned.
Thanks a lot for taking the time to respond and the help!
As some of you know, I will be moving to Ecuador soon (next 6 months or so is the idea).
For many years I have had a desire to leave the States and pursue a simpler and more relaxed environment with great weather. I documented some of this over the …
I work for a global macro hedge fund and head the research team. I also run a leveraged cross-asset portfolio where we recently launched a commodity futures strategy. When googling for splicing, data issues etc. this forum popped up quite often and I wanted to follow the threads more closely, so I thought I'd join this community. Looking forward to it.
His two books + free videos on YouTube are all you need IMO. I know two traders who attended MTP this year and said they didn’t get much out of it that wasn’t in the books. It is also worth looking into William O’Neill, and David Ryan for similar but different styles then Minervini’s.
New here. Been trading, off and on, since 1998. (For my other job, I'm a textual analyst.) Began trading stocks with the RealTick platform. Tried a few other trading platforms over the next few years. Had some success with myTrack, often taking advantage of being able to get 500 lot autofills at market with NITE during the dotcom bubble. Also, simply going long a basket of statistically chosen Nasdaq stocks overnight worked well for a time.
Then I switched to futures, developing an ES automated strategy that worked well off and on. Migrated to TradeStation for this. 18-year customer of TS, but I've recently given up on it. Tired of software crashes and the commission structure. Even the overnight carry fees are annoying. Over the past year or so, I found that every few days the latest platform experienced a problem and would soon shutdown. When I made the mistake (twice) of saving workspaces after getting the warning, I couldn't restart the software. Used AHK to shutdown all processes as a workaround. Also found that sending an order precisely at market close, by specifying the time, didn't work. TS sent the order 20 seconds after the specified time.
Now trying SC, which doesn't experience shutdown issues. Will be rewriting an EL strategy as a spreadsheet study over the next few months. Patiently waiting for iceberg orders to be instituted on SC.
I'm not a very good discretionary trader. Often a contrarian by nature, sometimes stupidly so. Tend to have many small gains and a few large losses. Take Friday as an example. The market opens slightly higher, then sells off till about 15:40 ET. Made a little bit of money on the way down. Then the market reversed strongly for the last 20 minutes and I lost a little halfway up, trading MNQ against the reversal, before making a little on the long side at the very end, because of a brief ES volatility spike down at market close.
I've had a few terrible days in the market over the past 22 years, one unexpectedly fine day, and a number of very good days. The fine day occurred during the summer of 2000, trading EMLX. It traded down with no bounce to speak of, from above 100 to below 50, in less than half an hour, and then trading halted. At the halt, I had a very large percentage loss on my account. I can't remember how large the trading account was, but I do remember the potential dollar loss I faced until the halt was lifted. Turns out there was a bogus press release meant to crush the stock. So when it reopened, the marketmakers colluded to squeeze whoever held a very large short position. The stock opened at around 120, trading around there briefly before dropping.
Hi everyone, happy to join this group.
I'm a private trader and trading coach from Israel.
I've been trading since 2004, US stocks and futures, mostly on intermediate time frame (swing to weeks) but some day trading too.
For many years I've traded alongside my day job (engineering management for many years, and then teaching high school math&science), until about a year ago I decided to finally live my dream and start my own trading coaching and teaching business
Over the years I've had my share of struggles with the market before finally hitting the road, and today I share this experience with others.
Having done a lot of mental work in the process of breaking my own trading-related limitations, I've come to learn techniques for subconscious work such as PSYCK-K and today use those as well, personally and with clients.
Looking forward to learning from and contributing to this group.
I note you introduced yourself as a trading coach.
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