newbie looking for virtual mentor/ mentors

Quote from pavlov0032:

yes, Tajikistan, Dushanbe
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Hi guys, I was born in Dushanbe, now live in Moscow. It is unbelievable you are still in Tajikistan. I suppose there is no Internet there :).
 
Quote from shiko2000:

Ok, ended this week 15 ticks up. But was 25 ticks up yesterday. it actually looks kike a Friday curse and I already see it is not a coincidence. It has happened 5-th time.
I noticed that when I have so so or negative week I have goog Fridays but when my previous week is really good I am trying to destroy my results. hence I decided that if my week is good by Friday I will simply not go to trade.
It reminds me of Vadim Geiferd Tape reading techniques book where he describes how his account was bouncing between $10 000 and $20 000 few times until he made some psychological trick.
I believe I am progressing.
I would really love to hear opinion of some really successful and experienced traders with great attitude.
I have been trading for 3 months.
My monthly results are this:
February: -$260
March: -$210
April: -$130

Almost all losses happened in just 4 days. If to take those 4 days out I would be probably -$10
How doe sit look???

Today I was not trading same way as I do other days and same with other Fridays after good weeks.
What I already see is that when I follow my plan, I have better chances to be profitable and I am most of the time.

I am also going to stop to trade stocks with higher volatility than beta 1.5. No more WFC and MS, I traded MS today.
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Hi Shiko. I did not read all your posts. My advise - stop trading, stop losing money.

Seriously, you do not understand what you are doing. If I do not count my losing days - I would be millionair. But nobody can predict in advance will this day be profitable or not. You shifted your mind, you think "wow I had 11 days profitable, I can trade". No, no, NO. You can not trade because of your loses are much higher then your profits.

It it simple to create system which will be profitable 10 days in a raw or 50 days in a raw. Enter random position, say buy, and setup take profit just few ticks above. Chances are high you will be filled and take small profit. But one day market moves another direction and you loss all your profits and much more.

I also read you trade Forex, do you? Stop trading, NOW. Forex is not the market for newbies.

First of all try to trade demo, try to find your own edge. Do not listen for gurus, do not follow their signals. Trade your own ideas. And best way is to get historical data and try to create fully automatic system.

Then you do not have much capital to trade. Do not trade with high leverage, best systems/traders in the world would lose account if trade with huge leverage. Trade another markets where you can take small risks, like Russian stock market?

Now you do not trade, you are gambling. Stop it.
 
Quote from RedRat:

Hi Shiko. I did not read all your posts. My advise - stop trading, stop losing money.

Seriously, you do not understand what you are doing. If I do not count my losing days - I would be millionair. But nobody can predict in advance will this day be profitable or not. You shifted your mind, you think "wow I had 11 days profitable, I can trade". No, no, NO. You can not trade because of your loses are much higher then your profits.

It it simple to create system which will be profitable 10 days in a raw or 50 days in a raw. Enter random position, say buy, and setup take profit just few ticks above. Chances are high you will be filled and take small profit. But one day market moves another direction and you loss all your profits and much more.

I also read you trade Forex, do you? Stop trading, NOW. Forex is not the market for newbies.

First of all try to trade demo, try to find your own edge. Do not listen for gurus, do not follow their signals. Trade your own ideas. And best way is to get historical data and try to create fully automatic system.

Then you do not have much capital to trade. Do not trade with high leverage, best systems/traders in the world would lose account if trade with huge leverage. Trade another markets where you can take small risks, like Russian stock market?

Now you do not trade, you are gambling. Stop it.
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This actually funny,
I am not gambling man.
There is no gambling in my approach. Yes, I also trade FX but I am not exactly newbie in FX now.
I trade with prop firm. What I am doing is working on my trading with 5 ticks stop loss. Not that easy but I am progressing.
If I do not trade real funds, I will never learn. Paper money is not same thing and I live in Canada so I trade North American market.
And yes man, I perfectly understand what I am doing actually.
It is just hard to make money with such tights tops. i am just very disciplined and cut them short even that few minutes later market shows I was right.
 
Quote from shiko2000:

This actually funny,
I am not gambling man.
There is no gambling in my approach. Yes, I also trade FX but I am not exactly newbie in FX now.
I trade with prop firm. What I am doing is working on my trading with 5 ticks stop loss. Not that easy but I am progressing.
If I do not trade real funds, I will never learn. Paper money is not same thing and I live in Canada so I trade North American market.
And yes man, I perfectly understand what I am doing actually.
It is just hard to make money with such tights tops. i am just very disciplined and cut them short even that few minutes later market shows I was right.
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I heard of some prop firms. They hire 100 people and hope that 2 of them become good traders.
They teach people some strategies, like go long stock, place TP 5 ticks, place SL 3 ticks. And if the major trend S&P is up, then chances are high that market reaches TP before SL.

The problem is such a strategy does not bring money. It may be break-even or profits are small. The business is to charge commissions. Prop firm has commission say 0.001 per 1000 shares and give commission 0.0025 to its traders. As there are too many trades, commissions bring good money.

If trader is break-even - firm makes money. If guy is not-profitable, firm diminish his trading size. If guy is profitable, prop firm also takes % payout.

Good luck with it.
 
Quote from RedRat:

Hi guys, I was born in Dushanbe, now live in Moscow. It is unbelievable you are still in Tajikistan. I suppose there is no Internet there :).
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Red Hat!

Assalom Allejkum! which part of the town you are from? when did you leave Dushanbe?

Are you trading from a prop firm in Moscow?
 
Quote from shiko2000:

It is just hard to make money with such tights tops. i am just very disciplined and cut them short even that few minutes later market shows I was right.
More...

Now it's hard to make money with tight stops, but if you learn to time your entries really well, it gets easier. There are folks on ET who questioned my claim that I sometimes traded a volatile issue like POT with just a 10 tick stop, but I'm a sniper. I watch and wait sometimes for an hour or more before I see a setup that's just right for super low-risk, high reward.

About a week ago I dropped in RW's trading room late in the day and called a POT trade (short) in real-time, with a 10-tick stop and 48-tick target, which was filled 10 ticks from the pivot low.

It's all about hours and hours of screen time, trading the same thing over and over and getting to know it really well. Price action at certain levels starts to talk to you and you learn to listen.

If you focus on one or two stocks and you have a good visual memory for patterns and what follows, this 5-tick stop will soon be no problem, IMHO. It will simply hone your skills to a fine edge.
 
Quote from pavlov0032:

Red Hat!

Assalom Allejkum! which part of the town you are from? when did you leave Dushanbe?

Are you trading from a prop firm in Moscow?
More...

Allejkum Assalam! I left Dushanbe in 1994, right after finishing school. I lived around Mayakovskaya street, now it is renamed, seems to be Hofizi. On the West part, if I am correct. Do you still live there?

I do not trade through prop firm. My experience so far is trading futures. Now I want to trade RTS Russian futures.
 
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