Still in College - Any Advice

... talk about the blind leading the blind!

 

Brent as a friend, I have be trying to make money day trading indices and currencies on CME for a year. I am older than you and have 7 years business experience. I can be done, but it is going to be tough bud. I am breakeven after a year, haven't made a penny. I have been scalping for 4-6 ticks alot of times and it can't be done at $5RT per trade. I am not trying to discourage you just to give you real wolrd perspective. Spend alot of time reading books on psychology. Test your methods on a good simulator, Ninja Trader.

True funny story. Last summer after only 1 month of paper trading some ideas I started getting up late and saying shit I would have hit that for $500! I will be making $500 a day within 3 months. Somedays now I make $100 per contract and look back and laugh, but it is coming with time. I have two mentors you better get one

Edit.....don't mess with the energy markets, the likes of T Boone Pickens will hand you your ass. If you want to try make money on QM on a simulator.

 

Here.
You go read this one, I dont just give you advice, I also give you the book

 

I didn't read the entire post, but does this kid program?

 

I disagree with this 100%. I find that the QM at times can be EASIER then the index futures. Might be my trading style, trend following, but when the indexes are just chopping away, you can get some nice moves in the QM. Same goes with the Euro-FX. Don't be afraid to play markets just because T. Boone Pickens is there. Not I wouldn't recommend it for someone starting out, but as your strategy and confidence grow dont limit yourself to just one or two markets. Just my 2 cents.

 

Worked for a year, hated it, got incredibly lucky and got backed by a group of locals.

 

hehe yeah thats quite lucky indeed, i dont expect anything to be handed to me. Course i wouldnt say no either.

Thanks for reminesces in the Ebook format have read it several times one of the first books i have read.

I seemed to have hit a plateau in my system testing, will check out ninja. Im having a hard time describing my parameters. I used stock fetcher on my watch list of 200 or so stocks before but didnt like it as i was often chasing an option play a day late because their signals were not real time.

Blind leading the blind right, again unecessary flaming of the n00bs. Why bother posting a flame.

Have maxed out on the psyc classes i can take at my college w/o being a psych major.

Interested in automating and backtesting/foward testing my approach.

Dan i made a post about looking for mentors/chat and basically i was laughed at. I dont necessarily want to be spoon fed rather i want someone to share my ideas with and be critiqued. I have played poker for 2 years now and have had my ups and downs but ever since i found a "mentor" things have gotten better. Hes not a mentor that spoon feeds me how to play rather we just talk and he critiques. I like to interact with other traders but I talk a mile a minute and feel that these posts dont get the job done.

Thanks for everyones advice, i will probably be creating a journal that I will keep about my process of finding a internship and mentor and prep leading up till the time i start to trade again.

 

And the blind have a new band leader...

 

Uh, yep. T Boone Pickens is looking for you. You and you couple 'O grand.

Idiot.

Wake the hell up. ANYONE can make money in the markets. 'Cept perhaps most ET posters.