If you had to start over...

[easymon1]

i trade futures (index). just fits my style more than otc market garbage

What timeframe charts do you like to look at?

 

[Handle123]

Risk management, learn how to seldom lose.

 

[deaddog]

Risk management, learn how to seldom lose.

I agree with risk management. I lose a lot but I keep the losses small.

 

[easymon1]

Stop spread.

 

[syswizard]

i would've skipped forex altogether

Why ? Many traders swear by it...especially because of the flexibility in choosing different pairs as well as the good liquidity.

 

[David's faith]

I am asking because we have a newcomer ...

Depends.
What is the source of your 'newcomer'?
What is your purpose in this training endeavor?

Family? The street? A school? A walk-in?
As a favor?
To employ them?
To find the best performer for the position?

We are related. We aim to introduce him into the family office if he finishes his grad in finance. He will be doing administrative work at first but ofc he want's to join the trading desk at some point. Who wouldn't. It's like beeing the only bird who can't fly in that environment he is in so to speak.

 

[Sprout]

Why ? Many traders swear by it...especially because of the flexibility in choosing different pairs as well as the good liquidity.

Because beginners are attracted to high leverage and have an upside down view of risk and risk appetite.

It puts the “get rich quick” against the Pros in a woefully lopsided match.

On the other hand, trial by fire, if survived can allow an aspiring trader to cross the bridge into the promised land where dreams do come true.

It’s low probability though, since time is what is needed to hone patience - not really retail’s forte.

 

[Sprout]

Who really cares is true, it's not fun to debate on here anymore. At the same time people just seem to over complicate and add factors in and/or over state the intelligence level needed to consistently pull money out of the markets. I mean OK if you're trading tens of millions or hundred of million dollar portfolio and managing a hedge fund or something, than having deeper over all knowledge and adding complexity can obviously help due to taking a position can move the market. But for the average joe trading on here, my statement is correct. Anyone trading low to even medium sized volume, particularly on equity futures doesn't have to make things so complicated or need an IQ even above 100 to pull money out of the markets. You can still make incredibly money relative to other jobs, trading even 2-3 NQ contracts.

Reminds me of this quote;

"If it is important enough to you, you will find a way.
If not, you'll find an excuse."

~anon

 

[rb7]

Maybe. Like any other tool it depends on how you use it. For what it's worth I don't use it, although I do use patterns that have occurred before.

How did you find those patterns if you're not backtesting?

 

[deaddog]

How did you find those patterns if you're not backtesting?

By watching the market for the last few decades.
By reading what works for other traders.
By trial and error. Lots of error.