e-mini's courses
Okay, I'm searching and searching.. I really really need and want to learn to trade these e-mini's successfully. I have spent over 10k on this crap. I'm still back to up and down up and down. I haven't actually made any money in two years. I'm breaking even. It's a waste of time. Can anybody recommend anything? I've tried strategy after strategy... My own, somebody else's. I need some kind of education or coach or SOMETHING or SOMEBODY that I can trust. Anybody have any sugguestions????
Thanks for any help you can give.
Thanks for any help you can give.
Tradermom,
I found this on my desktop, don't know where I got it, but I read it the other day and it has alot of good stuff in it.
Hope you find it helpful.
I found this on my desktop, don't know where I got it, but I read it the other day and it has alot of good stuff in it.
Click link to access uploaded file:
Psychology_and_Discipline_of_Trading.doc
Psychology_and_Discipline_of_Trading.doc
Hope you find it helpful.
Hi Tradermom,
I have been looking thru eminiaddict.com website, you have more free stuff there , videos, trade setup with rules etc. Please see if you subscribe to newsletter, at times there will be free webminar which is useful again. I had free webminar today and was very very useful.
They too have subscription for learning, iam not promoting or am not a member of that room. Its worth having a look at it.
I prefer to stay and learn in stuffs available in forums.
Fxbee
I have been looking thru eminiaddict.com website, you have more free stuff there , videos, trade setup with rules etc. Please see if you subscribe to newsletter, at times there will be free webminar which is useful again. I had free webminar today and was very very useful.
They too have subscription for learning, iam not promoting or am not a member of that room. Its worth having a look at it.
I prefer to stay and learn in stuffs available in forums.
Fxbee
TMom - If you do find a commercial trader education service of interest, you might check them out with our trading advisory services forum to see what other traders have to say, good/bad/otherwise. The search function on the service name can help you find older threads on the service of interest to you.
It's a bit of a coin toss with many of these services. A few are reasonably good, many are not. The price / cost does not seem to show a strong positive correlation to success using the service. Meaning choosing a higher cost service does not do much to improve your chances of finding either valuable help or good customer service.
Ask for a track record and references. Good help is going to take work and probably a little luck to find.
It's a bit of a coin toss with many of these services. A few are reasonably good, many are not. The price / cost does not seem to show a strong positive correlation to success using the service. Meaning choosing a higher cost service does not do much to improve your chances of finding either valuable help or good customer service.
Ask for a track record and references. Good help is going to take work and probably a little luck to find.
I don't know any service but I hope that maybe this helps, it helped me....
From the professional standpoint, the trader doesn't care how big his gain could be, or if he/she is right or wrong, but only on not losing money.
One thing that turned my emini trading around is so simple and I heard it a hundred times...take care of your losers and your winners will take care of themselves. I know you hear this all the time but it works, I remember my ahhh haaa moment I was trying to trade the ES like I do now (catching big swings +15 plus points) but I just wasn't good enough. I would take big hits trying to get big profits it made since...I would tell myself gee the ES looks like its at a top I am going to short and try for +10 and a stop at -10 I would get stoped after stop. My system was great but I was the problem. I was a profitable stock and options trader, but It wasn't clicking in the ES, I was trying to take what the market could NOT give, I was peeing in the wind. One single quote from Micheal Jenking's turned my 9 month losing strike around
"you will do better in this market (S&P futures) if you lower your sights and scalp small trades than insist on getting the bigger moves"
I was sitting at my table reading those words over and over in my head and it was like a ton of bricks hit me. I was trying to take from the market what the market could not give, and would not give. I decided to lower my sights this was back in early 2005 and a 2 point move was a lot. Thats what I was going to go for 1-2 points a trade instead of +10, I had a massive winning strike that started with that next day. The ES was bumping an old top, at a square of nine S/R #, I hit it with 4 cons and made 2points. I continued to do this for weeks I made back what I lost in 11 trading days, then after I grew more confident I could trade 5-20 cons without even having to watch every tick on the screen It was great I still remember that feeling, I had made it, I am profitable, I am a daytrader....I still love it.
Edit> I started counter trend trading, this is not always the correct thing to do, I also trend traded which is better to line up your trades with the longer time frame. I wouldn't advise trying to pick tops and bottoms. The best of my trades come in the direction of the 30min trend. Like in the last few weeks 95% of my trades are longs I am just looking for places to go long, in Jan-feb it was the opposite I was 95% of the time short just shorting rallies and breaks. If I had a time machine I would tell myself DO NOT TRY TO PICK TOPS AND BOTTOMS. Although I do it sometimes now but I start small and don't expect as much.
From the professional standpoint, the trader doesn't care how big his gain could be, or if he/she is right or wrong, but only on not losing money.
One thing that turned my emini trading around is so simple and I heard it a hundred times...take care of your losers and your winners will take care of themselves. I know you hear this all the time but it works, I remember my ahhh haaa moment I was trying to trade the ES like I do now (catching big swings +15 plus points) but I just wasn't good enough. I would take big hits trying to get big profits it made since...I would tell myself gee the ES looks like its at a top I am going to short and try for +10 and a stop at -10 I would get stoped after stop. My system was great but I was the problem. I was a profitable stock and options trader, but It wasn't clicking in the ES, I was trying to take what the market could NOT give, I was peeing in the wind. One single quote from Micheal Jenking's turned my 9 month losing strike around
"you will do better in this market (S&P futures) if you lower your sights and scalp small trades than insist on getting the bigger moves"
I was sitting at my table reading those words over and over in my head and it was like a ton of bricks hit me. I was trying to take from the market what the market could not give, and would not give. I decided to lower my sights this was back in early 2005 and a 2 point move was a lot. Thats what I was going to go for 1-2 points a trade instead of +10, I had a massive winning strike that started with that next day. The ES was bumping an old top, at a square of nine S/R #, I hit it with 4 cons and made 2points. I continued to do this for weeks I made back what I lost in 11 trading days, then after I grew more confident I could trade 5-20 cons without even having to watch every tick on the screen It was great I still remember that feeling, I had made it, I am profitable, I am a daytrader....I still love it.
Edit> I started counter trend trading, this is not always the correct thing to do, I also trend traded which is better to line up your trades with the longer time frame. I wouldn't advise trying to pick tops and bottoms. The best of my trades come in the direction of the 30min trend. Like in the last few weeks 95% of my trades are longs I am just looking for places to go long, in Jan-feb it was the opposite I was 95% of the time short just shorting rallies and breaks. If I had a time machine I would tell myself DO NOT TRY TO PICK TOPS AND BOTTOMS. Although I do it sometimes now but I start small and don't expect as much.
Tradermom,
Are you watching the longer time frames or the 1 min min? You need to know where yesterdays high low are, you need to know if we are trading above/below 2 days ago high/low, watch the longer term charts like the 30min. It dosn't matter if the 1min is making a flag and the 15min, 30min chart are going no where, how good is it if the 5 min is breaking out but its an inside day and an inside 30min bar.... All time frames need to line up. I watch 377 ticks and 5 min but would be lost with out my daily and 30 min charts, learn to first spot trades in the longer time frame then watch the shorter 1min, most traders have it backwards they start with the one min.
Are you watching the longer time frames or the 1 min min? You need to know where yesterdays high low are, you need to know if we are trading above/below 2 days ago high/low, watch the longer term charts like the 30min. It dosn't matter if the 1min is making a flag and the 15min, 30min chart are going no where, how good is it if the 5 min is breaking out but its an inside day and an inside 30min bar.... All time frames need to line up. I watch 377 ticks and 5 min but would be lost with out my daily and 30 min charts, learn to first spot trades in the longer time frame then watch the shorter 1min, most traders have it backwards they start with the one min.
It's funny but an hour after I got off the computer it occurred to me to recommend you talk with Jim Kane of Kane Trading educational service. He has a lot of free educational material on his web site, and also provides more in depth and personalized educational and training services for his members / students.
I was engaged in training stock day traders a number of years back (late 90's) in the "hay day." Also was trading futures here and there. I had been trading my own account for some years prior to that. For anyone that was interested in mentoring/training, I'd provide them my own track record (that was consistently profitable) ... had it in excel spreadsheet as a graph so they could see my equity curve as well.
I've been exposed to quite a number of training programs/companies/people, including the SP-500 "trader education" crowd. Almost all of them don't trade ... or do here and there and lose money. Some of the advertized courses (chatrooms too) have been slapped with judgements by regulatory agencies etc. It's amazing! And a lot of them are still in business and even ranked in the S&C magazine readers' poll as "best" (or near the top) for the training/education category. Good god ... the lies I've heard and seen by a lot of the vendor/promoters. Now, does that mean they don't offer some reasonable trading strategies,information etc. Not necessarily. But vet them with a vengeance ... and don't fall for any BS when you ask and require, as you should, documentation of their own trading results (for at least the most recent 6 months).
I would name some names, but it's not my place to do that. On the positive side, Jim Kane posts here and is one to explore. Another is Tradestalker, a guy named Mike Reed. He has a nightly newsletter with intraday updates. He actually trades and makes money. He's got a free 1 day delayed service of his nightly email. You can evaluate that yourself and not have to fork over any bucks unless you find real world value in it that fits what you're looking for.
Other than that, to put it bluntly, I despise most of the vermin out there preying upon people in need ... charging folks money for junk that is useless to a trader. Good luck with your search, and don't give up!!!!!!
I've been exposed to quite a number of training programs/companies/people, including the SP-500 "trader education" crowd. Almost all of them don't trade ... or do here and there and lose money. Some of the advertized courses (chatrooms too) have been slapped with judgements by regulatory agencies etc. It's amazing! And a lot of them are still in business and even ranked in the S&C magazine readers' poll as "best" (or near the top) for the training/education category. Good god ... the lies I've heard and seen by a lot of the vendor/promoters. Now, does that mean they don't offer some reasonable trading strategies,information etc. Not necessarily. But vet them with a vengeance ... and don't fall for any BS when you ask and require, as you should, documentation of their own trading results (for at least the most recent 6 months).
I would name some names, but it's not my place to do that. On the positive side, Jim Kane posts here and is one to explore. Another is Tradestalker, a guy named Mike Reed. He has a nightly newsletter with intraday updates. He actually trades and makes money. He's got a free 1 day delayed service of his nightly email. You can evaluate that yourself and not have to fork over any bucks unless you find real world value in it that fits what you're looking for.
Other than that, to put it bluntly, I despise most of the vermin out there preying upon people in need ... charging folks money for junk that is useless to a trader. Good luck with your search, and don't give up!!!!!!
Since you're looking for education, I feel compelled to at least provide info on vendors/training that I know about first hand. This is mostly a list of AVOIDS! They've nothing to offer more than what's in the public domain of trading books and websites like this one.
R.S. of Houston
http://www.legalcasedocs.com/120/247/942.html#item1
Amazing they got away with their gig and are still in business … and I knew of him early early on when high-speed internet was 2600 baud rate. And they’ve got a top S&C mag rating … go figger!!!
Rhythm of the markets – Ed Moore
http://www.cftc.gov/enf/00orders/enfrhythmofthemarkets.htm
Visited with him on multiple occassions … sounds like a nice guy … as do most, BUT!
Kingfish trading
http://www.ripoffreport.com/reports/0/144/RipOff0144907.htm
(not official documentation, but a site with posters on both sides)
Listened in to his chatroom. Surprised he’s not in jail.
Todd Mitchell/Trading Concepts
Took course in early 90’s … decent fellow … didn’t trade while I was there … not bad material in his course back then, don’t know what it’s morphed into now … had to settle a dispute between himself, Ed Moore and Steinberg (who also had a judgement against him)
Pristine Trader
Visited with both Oliver Velez (actually interviewed by him online about stock day trading) … and Greg Capra (nephew of director “Capra” from “It’s a Wonderful Life,” not kidding) … they’ve historically rotated thru different “teachers” on their site. Knew some of ‘em and, well, I’ll stop short of additional information I know first hand.
ATW (Advanced Traders Workshop) and Jerry Simmons
Personal experience … offer a lot of info … but caught J.S. in a variety of lies he posted online in realtime trading ES “calls” … along with lies in promotion about his account size etc. (told me he he’d made 7 figures the prior year trying to get me to sign up and wire him money … later, he said it was what his calls had made for other folks in their own accounts) … got this fuc&er recorded on the phone saying that among other BS … AVOID!
Wizetrade Software
Visited with in person when the original guy and his brothers had a daytrading firm in Dallas … take my word, DO NOT PURCHASE THEIR SOFTWARE or anything related to them. Besides other things I know, the guy had Wave On Wallstreet that he sold for around $3grand and one day just shut down the company and websites … screwed everybody and then got with a marketing firm to launch Wizetrade. A neighbor of mine bought it before he consulted with me … and, of course lost a good chunk of change … and then lamented to me, wishing I’d told him what I’ve just typed here.
These are some of the BE CAREFUL’S or AVOIDS! off the top of my head. I’ve been around and know a lot of peeps in the industry that are either “big traders” or “promoter/vendors/bookwriters” etc.
I don’t mean to sound too vitriolic here … I’m just calling it as it is from personal, first hand experience and knowledge. This is not 2nd hand info, otherwise I’d not include it in my post. And I'd invite them to sue me just so I could expose them. Just trying to help out here.
Oh yeah, and Mypivots.com absolutely SUCKS!! JOKE/JOKE/JOKE Actually, this is a place where I’m finding some very good trade analysis and sharing. Peruse the threads and learn … there’s a wealth of good solid instruction here that is current and covers a variety of topics !!!!
R.S. of Houston
http://www.legalcasedocs.com/120/247/942.html#item1
Amazing they got away with their gig and are still in business … and I knew of him early early on when high-speed internet was 2600 baud rate. And they’ve got a top S&C mag rating … go figger!!!
Rhythm of the markets – Ed Moore
http://www.cftc.gov/enf/00orders/enfrhythmofthemarkets.htm
Visited with him on multiple occassions … sounds like a nice guy … as do most, BUT!
Kingfish trading
http://www.ripoffreport.com/reports/0/144/RipOff0144907.htm
(not official documentation, but a site with posters on both sides)
Listened in to his chatroom. Surprised he’s not in jail.
Todd Mitchell/Trading Concepts
Took course in early 90’s … decent fellow … didn’t trade while I was there … not bad material in his course back then, don’t know what it’s morphed into now … had to settle a dispute between himself, Ed Moore and Steinberg (who also had a judgement against him)
Pristine Trader
Visited with both Oliver Velez (actually interviewed by him online about stock day trading) … and Greg Capra (nephew of director “Capra” from “It’s a Wonderful Life,” not kidding) … they’ve historically rotated thru different “teachers” on their site. Knew some of ‘em and, well, I’ll stop short of additional information I know first hand.
ATW (Advanced Traders Workshop) and Jerry Simmons
Personal experience … offer a lot of info … but caught J.S. in a variety of lies he posted online in realtime trading ES “calls” … along with lies in promotion about his account size etc. (told me he he’d made 7 figures the prior year trying to get me to sign up and wire him money … later, he said it was what his calls had made for other folks in their own accounts) … got this fuc&er recorded on the phone saying that among other BS … AVOID!
Wizetrade Software
Visited with in person when the original guy and his brothers had a daytrading firm in Dallas … take my word, DO NOT PURCHASE THEIR SOFTWARE or anything related to them. Besides other things I know, the guy had Wave On Wallstreet that he sold for around $3grand and one day just shut down the company and websites … screwed everybody and then got with a marketing firm to launch Wizetrade. A neighbor of mine bought it before he consulted with me … and, of course lost a good chunk of change … and then lamented to me, wishing I’d told him what I’ve just typed here.
These are some of the BE CAREFUL’S or AVOIDS! off the top of my head. I’ve been around and know a lot of peeps in the industry that are either “big traders” or “promoter/vendors/bookwriters” etc.
I don’t mean to sound too vitriolic here … I’m just calling it as it is from personal, first hand experience and knowledge. This is not 2nd hand info, otherwise I’d not include it in my post. And I'd invite them to sue me just so I could expose them. Just trying to help out here.
Oh yeah, and Mypivots.com absolutely SUCKS!! JOKE/JOKE/JOKE Actually, this is a place where I’m finding some very good trade analysis and sharing. Peruse the threads and learn … there’s a wealth of good solid instruction here that is current and covers a variety of topics !!!!
Well done and thanks for that MM....always great to read some honest feedback...
Thank you so much for all of your help. I am going to look into it all. I actually came this close to going with trading concepts and/or international traders. It just didn't seem right. I can't wait to be able to go through all this stuff on this website. Does anybody know of any good books on e-mini's that has been written semi-recently? I do listen to shadow trader and he helps a lot. He Just goes a little fast for me. Okay well today is my 6 year old's birthday. Gotta get her a cupcake before school lets out. Thanks again so much!!!
TraderMom, I suggest you check Online Trading Academy, they provide professional trader's education, and they have about 30 branches worldwide... You can check their site, as they offer also free courses on Futures, stocks, fx, etc.
Good luck.
Good luck.
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