In a Rut

[Billions]

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.

 

[mc01439]

Welcome 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.

I love sports but I know I could never be good enough to be a pro. A trader that makes money over a long period of time is a pro and that takes a lot more than hope . There is a high level of skill required.

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.

 

[Billions]

Welcome 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 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. idk

 

[Billions]

Wow yes it does maybe that's my issue that's why I may be having this issue. Should I look for indicators that do not repaint? I appreciate all your help

 

[mc01439]

I can only speak for myself but at your stage of trading re-painters more than likely will offer only frustration and pain.

Look at price action with one indicator to start with. A moving average for example. Watch the price action for how it reacts with the indicator. Does it move with the indicator, stop at, fade and so on. If you do not like what you see look at another indicator until you like and understand how the indicator works with and against price. Price flow and moment is the key, the indicator is used to confirm.

I'm trading CL right now - first trade of the day a small loss. This is even with my indicator staying yes - that is the way it goes. I trust my style and indicator though so I will continue and look for another chance when price moment allows.

 

[Billions]

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?

 

[mc01439]

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?

Here is a slower one that I am using this morning. I made changes to the one posted on this site. This is what I am talking about - find something you can work with and adjust to your style and personality.

Try different time and tick frames. Find the frame that fits You.

https://tos.mx/UPsxYSG

https://imgur.com/odAMzsb

 

[Billions]

Great that's a start thank you. Anything else you can think of please send me thank you for all your help

 

[horserider]

Please inform us of how you trade. Day trade ? Swing trade? Trend trade? Reversion ?
Would be helpful information for anyone wishing to offer suggestions.

 

[Billions]

Hi Yes Day trade I was using the trend reversal but not working mainly futures

 

[Leminhat]

@Billions you would like to check out this https://usethinkscript.com/threads/es-trading-strategy-on-thinkorswim.987/

Good luck!

 

[blakecmathis]

@Billions Check out the link to the forum that @Leminhat mentioned! I strictly trade futures as well and would love to have another mind to bounce strategies off of. On top of that @skynetgen does a a beautiful job of laying out setups and analytics. Come on over brotha!

 

[Billions]

@Billions Check out the link to the forum that @Leminhat mentioned! I strictly trade futures as well and would love to have another mind to bounce strategies off of. On top of that @skynetgen does a a beautiful job of laying out setups and analytics. Come on over brotha!

Thank you all would love to join you brother