Introduce Yourself Here - Don't Be Shy!!

[TimRacette 11]

@TheNegtotiator.

 

Yes, CME does offer mini Forex Futures, I haven't looked into them yet.

 

@$5daw

 

I like that, "Trade When the Money is".

As for your choice of Beers, Hmm... :puke:

 

The mini Forex (E7 is the mini 6E Euro) are half the size of the regular futures contract, but the liquidity just isn't there. I tried E7, trading twice the contracts as I would on 6E and found that there was a lot of slippage (I us Infinity Futures). Other people I talked to that experimented with them briefly on different order execution platforms said the same thing. If your just starting out and can afford to trade 2 contracts on 6E I'd go with that. Much more profitable. Scale out of the first one at say +4 and let the second one rip to it's target.

[Rainmaker626 10]

The first thing you want to do is determined what and when you want to trade..

 

The second thing you need to do is understand that trading is not a hobby, not a get rich quick scheme (even though the potential for great profits exist).. You have to understand that trading is a Business, just like any other business.. If you cant set aside the time to trade and the time it takes to learn to trade, dont bother putting real money into it..

 

Say for example you want to trade between the hours of 8am - 5pm, You need to have that time slot free and available...

 

The third thing and most important I think is to Not give up your Primary job or source of income... Trading should be your secondary source of income...

 

 

There's more to say... But I suggest you digest these few things first..

[kishenr 10]

Hello,

 

I have been trading for about a few months for real and on practice sites such as updown.com. I have been mainly been using fundamentals for trading and "intuition". I am looking to increase my annualized returns and get an introduction to technical analysis. I would be very comfortable with high level mathematics and would be interested in getting into the higher math in trading.

 

Thanks!

[TimRacette 11]

kishenr, there's certainly been a lot of math and algorithmic trading popping up over the past 10 years. As for learning technical analysis I might recommend the book Japanese Candlestick Charting Techniques by Steve Nison. Take things one step at a time, as long as you have your max daily loss defined then you should be able to learn without blowing up.

[rangerbill 10]

New to trading, bought my first stocks two weeks ago. the beginners luck was intoxicating. but took my first beating today, ouch.

 

anyway, i am here looking for information maybe pick up some on the how to and jargon.

 

so, hello all

[TheNegotiator 13]

Hello all , I am also new to TL. I have been involved with the markets since 07 in one way or another. Last year I started day trading the es , with so,so success. Some days are winners ,and some days are losers its the learning curve. I am still smoothing out my strategy on the es trading time frames. I have found some great learning tools already. Great to meet everybody.

 

Hi deerhunting,

 

It's definitely a learning curve! It's important though to recognise that even when you are a seasoned veteran, you are likely to have losing days still although the ratio of winning to losing days hopefully will increase! The important thing is to manage your trading effectively enough to mitigate those losing days.

[TheNegotiator 13]

New to trading, bought my first stocks two weeks ago. the beginners luck was intoxicating. but took my first beating today, ouch.

 

anyway, i am here looking for information maybe pick up some on the how to and jargon.

 

so, hello all

 

Nice to meet you rangerbill! Good luck with your trading. I am sure you will learn a lot and enjoy your stay with us at Traders Lab!

[TimRacette 11]

Rainmaket is correct, I might suggest the book "the 4-hour work week" it's about creating passive income and freeing up your time. In most cases this is what people wanting to become traders actually want. Trading is a self-employed job that takes long hours and hard work on the front end. Then again so does anything that pays well.

[Hustle Trader 10]

Hello everybody!

 

I'm excited I found this forum. Looks fantastic.

 

I've traded commodities and FX. I'm now looking to try my hand at index futures. I've been paper trading and 1 contract live trading for about 6 months now and loving it.

 

I look forward to interacting in this forum and getting great tips!

 

Thanks,

 

Hustle Trader

[TimRacette 11]

Nice to have you here Hustler, it's a great forum, everyone is really helpful.

[iwshares 10]

I'm not trying to single you out iwshares, but I did wonder what you meant by your slippage statement above. Also, your statement, "I'm not always staring at a screen," triggered my interest. Mostly in regards to the time frame you may choose.

 

Thanks for the advice $5DAW. Don't worry I haven't just read a website and think I'll become a Forex millionaire overnight - I'm still studying different markets to work out which one I want to trade in. My comment on slippage in relation to Forex meant is that the brokerage and stamp duty costs related to equities trading seem to reduce profits more than the bid-ask spread of Forex. Is this right? I've yet to examine futures and options and their trading costs.

 

As for time period would I be right in saying that as long as I know how a market normally behaves I could dip in and out of trading a short time period e.g. 4 hour charts. I've read that I need to choose between position and swing trading as part of developing a trading strategy and am presuming I could be a part time swing trader? Does that apply to every market?

[TimRacette 11]

If you're trading Forex Futures slippage isn't as big of an issue.

[$5DAW 10]

Thanks for the advice $5DAW.

 

My comment on slippage in relation to Forex meant is that the brokerage and stamp duty costs related to equities trading seem to reduce profits more than the bid-ask spread of Forex.

 

As for time period would I be right in saying that as long as I know how a market normally behaves I could dip in and out of trading a short time period e.g. 4 hour charts. I've read that I need to choose between position and swing trading as part of developing a trading strategy and am presuming I could be a part time swing trader? Does that apply to every market?

 

Thanks for the reply iwshares, please consider my posts suggestions, my intention is not to offer trading advise. I now understand your comment on slippage, it makes perfect sense in that context. I have to get behind Tim on his opinion that, "If you're trading Forex Futures slippage isn't as big of an issue," especially if you're considering swing and or position trading, IMO.

 

I believe you're on the right track looking at the 4hr time frame, if your intention is to unchain yourself from your computer screen. You brought a smile to my face when you said, "dip in and out of trading a short time period e.g. 4 hour charts," as I seldom hold positions for more than 15min.

 

Obviously, due to my much shorter view of the markets, I consider myself unqualified to comment on position, swing trading. I will say this, on occasion (rarely) I'll allow my short term trade entry to turn into a swing trade, only if my analysis (or my system's indicators) signal a continuation to a higher/lower S/R level than I originally anticipated. That said, I believe while designing or testing a method/system it is extremely pertinent to "stay on the reservation" and not mix methods/signals, (e.g. position/swing/scalp). Keeping your analysis separated while testing, and then reviewing both systems independently prior to and during optimization, may reveal hidden unexpected gems. Examples may be, longer/shorter time frames, hard targets, trailing stops, wider/tighter hard stops or scaling in/out of positions. Good luck in your endeavor, and good trading.

[juxinfo 10]

my name is agun amisi and a forex newbie. i really want to succed trading the fx market

[TheNegotiator 13]

Hi there agun! Welcome to TL! I am sure you'll find lots of great knowledge and help here at TL. May I suggest to you to take a look at our recent interview with Rob Booker, a seasoned forex pro and published author. The interview can be found in the following link and it's completely free!!

 

Rob Booker Interview

[joyjohnny 10]

Hi,

New here, just found this place. Very nice.

[TheNegotiator 13]

Hi joyjohnny,

 

Welcome to TL! I hope you benefit from our site and the forums we have. If you can't find something you are looking for, post in the forums and other users are normally more than willing to help!

[Mysticforex 13]

Hi Agun, and Joyjohnny!

Welcome. If there's something you don't understand, be sure to ask.

[stormblack 10]

Hello TL.

I'm Dinh.From Vietnam.I feel TL forum is so great and i want to research all of knowledge TL supply

I hope we'll share more than i'd seen

Regard !

[TheNegotiator 13]

Welcome Dinh! I appreciate the thumbs up for TL and I'm certain we can live up to your expectations! Just make sure you get involved in the forums and post. This is the way to benefit fully from our website.

[Chippy 10]

I am new here, but been trading for about 3 years now. I will take any and all advice I can get though. I am always learning something new when it comes to trading haha.

 

I trade mostly futures and commodities since I stepped away from stocks. Best decision of my trading career

[TheNegotiator 13]

Hi Chippy,

 

Welcome to TL! Thanks for introducing yourself and I hope you find some useful threads and meet some of our knowledgeable members. It's always useful imo however experienced you are, to share thoughts and experiences with others, as sometimes it's the experiences we have already had, viewed from a different perspective which end up the most enlightening.

[cashcarewins 10]

Restarting my trading career after a 20 year hiatus. This is a 3 month experiment for me. I post all my trades live on twitter - twitter api is implemented in the order entry call back so I do not get distracted by that. BTW, I am a software guy and built my own trading platform connected to eSignal.

[TheNegotiator 13]

Welcome cashcarewins and good luck! Is that your twitter name too and what will you be trading?

[Mysticforex 13]

Hi Chippy! Welcome aboard !!!