Omaha, NE/USA
Experience: Beginner
Platform: S5 Trader; Jigsaw; TOS
Broker: Stage 5
Trading: ZN
Posts: 110 since Sep 2016
Thanks Given: 221
Thanks Received: 105
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Hi there!
Books that have helped me are Trading in the Zone and High Probability Trading by Link. If you are near a library and they don't have them, InterLibrary Loan them for a few bucks each.
I had a hard time doing demo on ToS and since I opened an account with Stage 5 Trading I have access to great software and community immediately. Not to mention the awesome S5 Trade Analyzer, which is no cost as well.
I am studying Al Brooks Price Action. Like most trading plans/systems it seems to depend on stats to establish an edge. After about the first 35 trades, my expectancy is about a tic and a fraction per trade. Which I am happy with, but each loss still stings a lot. So, I picked this one system and am sticking to studying it and not letting myself wonder around, even if it is just to better understand the system I prioritized. Someday I would like to do the No BS Day Trading course and the FT71 volume profile methods.
And, that is the other thing, figure out what you want to do about psychology. Personally, I read the Zone book and now am trying to mediate (increasing the time in one minute increments), also there are a lot of FIO webinars that help with that topic. The book Fooled by Randomness has helped with my approach or relationship to the markets.
I too trade one contract for now and will not go live for quite some time. It is good that you have a really long term goal for using cash. For me it is key to go a pace that allows me to understand what I am doing and feeling comfortable about that pace.
Good luck to you!
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