Hi All I need some help. I'm day trading futures in and out. I cannot find a strategy that is working every time I think I have it set Boom it doesn't work. Time frames are off idk. Anyone have any thoughts for me.
Thank you so much I appreciate your in-site. I am having trouble with the time frames ticks or minutes which is better. I was using the trend reversal strategy and a few others some winners some losers. idkWelcome to the world of trading. The one thing I force myself to remember is that less than 5% of traders can make a living trading. 90% loss money.
This is because most do what I did for years - strategy jump or trade with no plan. It took me 20 years to finally train myself to the level of breaking even and another 5 years to start making money then another 5 years to be able to leave my job and make what or more than I spend to live.
After 35 plus years of trading and testing indicators I have come to the conclusion that indicators are individual. What I mean is what works for me more than likely will not work for you. In fact, an indicator I loss money with, you may make money with.
My advice - decide do you want to spends years honing your trading skills? If you do test, test, test and understand you are going to loss. Take each trade and rate it. A losing trade can be a high rated trade if you followed all your rules and a winning trade can be a low rated trade if it was luck. NEVER risk what you cannot afford to loss! You have to love trading to succeed with trading and even then, it is not a guarantee.
This site is one of the best training fields I have come across because most do not BS you but are here to help and learn as well.
Wish you the best and if I can help with a specific question about a strategy you are using or testing will be glad to help if I can.
Thank you your experience is really appreciated. I will follow your advise and go back to sim trading for a while what indicators do you like and time frames to give me a start?
Thank you all would love to join you brother