**Almost in Tears** Need Mentor for Futures Market.

[Bullz n Bearz]

Quote from SethArb:

Bullz n Bearz ...

do you mind giving us some examples how what losing trades you made and what mistakes you think you made this week

maybe some of us can help you eliminate or reduce some of those
bad trades ... or even tell you not to trade at this time or trade something else where you might have a better chance

good luck

Colum 4= Unrealized P/L

Order ID Bought Sold Fill price Avg Price P/L Cumulative P/L Timestamp

06/22/2007
Clearing house: RJO
Account: XXXXX
Contract: 6EU7(ECU7)
3083401 1 134.9900 134.9900 06/22/07 10:21:39.000
3083639 1 135.0100 134.9900 -30.54 -30.54 06/22/07 10:29:39.000
Open: 0
Contract: ESU7
3079849 3 1,529.0000 1,529.0000 06/22/07 08:29:44.000
3082056 1 1,526.5000 1,528.3750 06/22/07 09:46:36.000
3082537 4 1,531.0000 1,528.3750 -543.48 -574.02 06/22/07 09:59:24.000
3082573 2 1,529.2500 1,529.2500 06/22/07 10:00:35.000
3082859 2 1,528.0000 1,529.2500 115.76 -458.26 06/22/07 10:08:07.000
3082881 2 1,527.5000 1,527.5000 06/22/07 10:08:29.000
3083126 2 1,527.2500 1,527.5000 15.76 -442.50 06/22/07 10:15:38.000
3083192 2 1,527.7500 1,527.7500 06/22/07 10:17:00.000
3083208 2 1,528.2500 1,527.7500 40.76 -401.74 06/22/07 10:20:13.000
3083652 2 1,525.7500 1,525.7500 06/22/07 10:29:47.000
3085439 2 1,527.7500 1,525.7500 -209.24 -610.98 06/22/07 11:28:48.000
3085688 2 1,528.2500 1,528.2500 06/22/07 11:35:56.000
3085903 2 1,526.5000 1,528.2500 165.76 -445.22 06/22/07 11:43:38.000
3085921 2 1,527.0000 1,527.0000 06/22/07 11:44:16.000
3086094 1 1,525.0000 1,527.0000 95.38 -349.84 06/22/07 11:48:42.000
3086094 1 1,525.0000 1,527.0000 95.38 -254.46 06/22/07 11:48:43.000
3086166 2 1,526.0000 1,526.0000 06/22/07 11:50:19.000
3086239 2 1,526.2500 1,526.0000 -34.24 -288.70 06/22/07 11:54:28.000
3086310 2 1,526.2500 1,526.2500 06/22/07 11:54:52.000
3086375 2 1,526.7500 1,526.2500 40.76 -247.94 06/22/07 11:57:58.000
3086396 2 1,526.7500 1,526.7500 06/22/07 11:58:35.000
3086442 2 1,527.5000 1,526.7500 65.76 -182.18 06/22/07 12:02:06.000
3086544 1 1,527.2500 1,527.2500 06/22/07 12:03:35.000
3086544 1 1,527.2500 1,527.2500 06/22/07 12:03:35.000
3086669 2 1,526.7500 1,527.2500 40.76 -141.42 06/22/07 12:06:23.000
3086690 3 1,526.7500 1,526.7500 06/22/07 12:07:04.000
3086845 2 1,524.5000 1,526.7500 -234.24 -375.66 06/22/07 12:12:22.000
3086845 1 1,524.5000 1,526.7500 -117.12 -492.78 06/22/07 12:12:22.000
3086875 2 1,525.5000 1,525.5000 06/22/07 12:13:24.000
3086883 1 1,524.7500 1,525.5000 -42.12 -534.90 06/22/07 12:14:22.000
3086883 1 1,524.7500 1,525.5000 -42.12 -577.02 06/22/07 12:14:22.000
3086894 2 1,523.7500 1,523.7500 06/22/07 12:14:36.000
3087206 2 1,522.2500 1,523.7500 140.76 -436.26 06/22/07 12:22:27.000
3087258 2 1,521.2500 1,521.2500 06/22/07 12:22:49.000
3087309 2 1,521.0000 1,521.2500 15.76 -420.50 06/22/07 12:24:13.000
3087322 2 1,520.7500 1,520.7500 06/22/07 12:24:32.000
3087374 2 1,521.5000 1,520.7500 -84.24 -504.74 06/22/07 12:25:44.000
3087406 1 1,520.7500 1,520.7500 06/22/07 12:26:37.000
3087406 1 1,520.7500 1,520.7500 06/22/07 12:26:37.000
3087436 2 1,519.5000 1,520.7500 115.76 -388.98 06/22/07 12:27:01.000
3088513 2 1,518.5000 1,518.5000 06/22/07 12:55:46.000
3088830 2 1,516.2500 1,518.5000 -234.24 -623.22 06/22/07 13:05:19.000
3088860 2 1,516.0000 1,516.0000 06/22/07 13:05:31.000
3088927 2 1,514.7500 1,516.0000 115.76 -507.46 06/22/07 13:07:41.000
3088936 2 1,514.7500 1,514.7500 06/22/07 13:08:09.000
3089414 2 1,520.0000 1,514.7500 -534.24 -1,041.70 06/22/07 13:22:59.000
3092055 3 1,517.0000 1,517.0000 06/22/07 15:49:45.000
3092098 3 1,517.5000 1,517.0000 61.14 -980.56 06/22/07 15:57:03.000

 

[Bullz n Bearz]

Quote from GaryN:

You might read Yoder's book, Mastering Futures Trading. Nice solid approach to trading using simple patterns that are always there in any market. I was a bit dissappointed in the book as it is subtitled "advanced strategies" and I found nothing new in it, but I think it is a good introduction to futures trading.

Well that must mean that you're already pretty advanced..

 

[Bullz n Bearz]

Quote from MiniDowTrader:

Bullz,

This is pretty good advice if you want to learn a solid scalping method. Ryan Watts will help you. He's not a scammer or a fraud. Good advice Kiwi!

MDT

Thanks a ton, I'll check him out. If he is what I really need, I will think about using his services..

 

[Bullz n Bearz]

Quote from coolweb:

lol
this industry is the only industry where everybodys an asshole

but in reality, I believe methods can't really be taught around, cause the markets always changing,

2 ways to make money:

1. To make money from $0 requires lots of "searching" of inefficenys.
2. To make money from $500k+ requires lots of patience and long term waiting.

The market only has lots of "inefficienys" (bad spelling) during the dumb money stage (year 2000) where every dumb person made money.

These days there are not a lot of efficieneys people can exploit. You are competiting with like 10,000 other well capitlized people to find effiicineys.


1. Trading that doesn't require lots of capital (daytrading)
Relies intensely on either
a) exploiting inefficencys (nobodys going to tell you what they are cause its free money)
SOES, ARCA coming on scene in 2000, gold arbitage with london back in the days
Lots of others, nobody speaks about it.


INEFFICIENYS dissapear rapidly , so once you know about it, its already gone , thats why everybody mentions "market has changed.." . Thats what they are talking about. Short term exploitation.
Its kept secret. You would too if you found one.


b) personal "experiences" where they have seen everything and everything, which takes a long time to master.

These are 2 things nobody can really teach you.
-------------------

2. Warren buffet's style / investing styles.

Trading that requires lots of capital (long term investing) that returns 30% (if you are the BEST!)

a) This can be taught because its basically, buy good companies at BELOW cost price. So you make money immediately.

buying AAPL right now would be diaster, its not below cost, its way above it. You can buy right now and maybe make $3 , but if you hold it for a few more months, it'll go straight down -20. If you bought at cost @ $80, it might hover around your price but won't give you a huge drawdown.


Lots of people teach these methods but very few people utilizes it correctly mainly because
it takes a long time to see "results"

and it requires LOTS of capital to make it worthwhile.

-----------------

As you can see both methods , one nobody teachs you , because its free money.

, the other requires lots of patience and capital.


Take your pick.

Wow, great post man. Thanks, I took this one to heart..

 

[Bullz n Bearz]

Quote from tortoise:

BnB -- Why do you want this so badly? They're a lot of other ways to make a buck, and many require less effort. Why trading?

Because trading allows me to sit in front of the computer and allows me to utilize my own abilities to potentially make money in the financial markets.

 

[tortoise]

Quote from tortoise:

BnB -- Why do you want this so badly? They're a lot of other ways to make a buck, and many require less effort. Why trading?

You still haven't answered my question. I suspect the reason is that the real answer -- something along the lines of, "Because I wanna be rich-rich-RICH and the futs are my best shot at getting what I want" -- embarrasses you.

If that is correct, I can tell you right now, Ryan Watts' course isn't going to get you where you want to go. (And, yes, I purchased Ryan's course -- back in the days when I thought I could buy the keys to the kingdom -- so I speak from direct knowledge...)

 

[Bullz n Bearz]

Quote from JangoFolly:

BNB,

What are you looking to get from a mentor?

Are you looking for a trading strategy, or are you looking for someone to help you trade your existing strategy?

Have you looked at other futures markets? Personally, I don't like the index futures, and I can't trade them well. You might look at some other markets to see if there is one that speaks to you (grains, currencies, energy). Of the indices, I think the ES is relatively hard to trade -- if you feel like you must stick with the indices, look at the NQ for a couple of days.

Most vendors are going to try to sell you their way of trading, with a one-size-fits-all attitude. There may be plenty of trading strategies that just don't work for your personality. I think it's very important to find your own trading method that works for you.

For a long time, I tried to swing trade spot forex using fibs and some other TA stuff. While the strategies were legitimate, I realized that I simply didn't have the right outlook for that style of trading. So I focused on the style that works for me. I'm happier and more profitable.

Please tell us a little more about your current trading style. Entries, exits, stops, targets, etc. There's always help to be found on these boards that doesn't cost you money. Most help will require some elbow grease on your part, however. An answer that is handed to you probably isn't worth much.

Well, from a mentor, I'm looking for someone who is just willing to sit down with me over the phone or in person and coach me about trading. I'd kinda look up to him/her as a role model for trading. He would help me place disciplined trades and such.

I don't agree with the one-size fits all mentality these guys try to push, however, I accept that they do exist. I'm just looking for someone who is willing to go out of there way(like i would if i were as qualified) and help a very hungry up and coming trader.

My trading style sadly varies, I don't have a solid approach to the markets yet. I use more of a day trading style when the time is right and swing trading style(if i'm losing a lot of money, lol) .. I just feel I am too chameleon sometimes with the markets and don't have a solid strategy in place. I trade the indexes and sometimes the euro(i used to trade the euro and crude oil a lot). My entries , I try to time those and get in now days at a good price so I can make a little more money from the start of the trade. Exits, I'd like to have those down and techincally defined soon. I should definatly put more focus into my exits though. I don't really use stops because I don't know if price is going to dip and come back(i've lost some money by that happening)Although I should use stops again.

I hope all of this information helps. Take care, thank you and continue to ask those thought provoking questions. You definatly helped me answer some of my own questions.

-BnB

 

[tortoise]

Quote from Bullz n Bearz:

Because trading allows me to sit in front of the computer and allows me to utilize my own abilities to potentially make money in the financial markets.

That's a tautology, not an answer.

 

[nitro]

Quote from Bullz n Bearz:

Everyone, I really have been having a horrible week. I've nearly blown my whole account and am in desperate need of a mentor to help me. I have books and cds on trading but they are not as helpful as someone who successfully trades.

Look, I'll pay you $50 an hour for a mentorship. I only want the best mentor on this forum(someone who has been trading for 5+ years and makes a living off futures)

I trade the emini S&P.

Please help,

Thanks!

The very thing you want, you will never find on ET. I think about your offer and I think it is hilarious.

Run from this place, get a job at a firm like Goldman Sachs, Citadel, Susquehana, Timber Hill, a hedge fund, or a market making firm, or possibly a place like Bright Trading if your education does not allow other choices. Those people bring in money nearly every day FOR YEARS trading WITH VERY LITTLE RISK. Learn how it is done.

All you will learn from people on ET is patterns, indicators and more useless crap. There are probably 50 people on ET worth listening to (I was going to write 10, but decided to be safe and make it a really big number). Not one of those people would take your offer seriously.

Unless you stumble onto something by luck, you will go to your grave misunderstanding markets, and how to extract money from them. Even if you find a pattern or an indicator that works today, it will stop working and you are back to square one, or square minus one when you blow out if you don't realize it has stopped working. More likely, even if it does work, you probably won't have the confidence in it nor the capitalization to see it through.

Heed what I put in bold letters above. Come back in two years and tell us what you learned. I am looking for specific words to come out of your mouth. If they don't, you learned nothing.

See you in two years.

nitro

 

[Trader KGB]

Quote from Bullz n Bearz:

I use more of a day trading style when the time is right and swing trading style(if i'm losing a lot of money, lol)

Are you hanging onto daytrades that are losers and thus they become losing swing trades? If that's the case, you should stop doing this activity immediately.

I could be mistaken, but it sounds from what you're saying that you're holding the ES overnight. You should not be establishing swing/position trades based upon failed intraday trades.