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FuturesTrader71 Profile picture
@FuturesTrader71
Oct 26, 2019 • 5 tweets • 1 min read • Read on X
Curious: What is your description of success in trading? Doesn't matter if it is Futures, currencies, crypto or equities.

When will you have arrived?
#trading
One can be a very consistently profitable and even very rich trader, but also a very miserable person. That isn't success. Success to me is about growth, expansion, comebacks, inner-awareness, thoughtless execution, being in the flow & loving every second of it
I would be a bullshitter if I said that this is my constant experience. It isn't. The market really tests everyone. Really creates moments of doubt. Has it changed or is this just an unfavorable market regime causing a drawdown? Am I off balance? Am I honest with myself?
We all need to remember that this is a competitive sport. One doesn't have Federer's record by chilling & being constant. We have to evolve despite our laziness. Grow despite our comfort. When I'm completely bored with trading, I will go do something else. I'm not bored yet.
Many great answers in this thread. Thanks to all who voiced your thoughts.

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More from @FuturesTrader71

FuturesTrader71 Profile picture
Aug 23, 2022
An observation: The complexity with which #traders often approach the market is sometimes impressive. It really is simple;but not easy.
IMO, any approach that doesn't appreciate the basic auction mechanism is likely to result in layer over layer of derivatives of price & volume.
Learning the auction is key for every time frame. The fundamental basis from which to form a bias. Then add indicators and tools to taste to hone in on execution.

To me, it often seems backwards. Tons of stuff on a chart to where we can't see what price is signaling.
Big picture auction ➡️ Form a bias ➡️ Map key prices in our time frame and risk ➡️ use something to make execution routine ➡️ wrap it all up in a good R-Factor ➡️ Edge should show with large enough sample.

Again, simple, not easy.
Read 4 tweets
FuturesTrader71 Profile picture
Feb 20, 2022
Anecdote: A friend of mine who I felt was intelligent sold his 3 yr old Acura for $12k over book value. He has been bragging about it for 2 wks. He now needs a car and can't find... (cont)
a "reasonable" deal. Very frustrated. He can't believe how much dealers are trying to "rip him off" and how "the system is rigged". Lots of conspiracy theories...which has resulted in me losing respect for the guy. I guess the (cont)
laws of supply/demand pricing should only apply to him when he is selling at a premium, but somehow they are a conspiracy when he is the buyer.

So it has become painfully obvious to me that the fashion now is that (cont)
Read 5 tweets
FuturesTrader71 Profile picture
Feb 16, 2022
Not directed at anyone in particular, but there is a lot of well-intentioned #trading advice on fintwit about avoiding FOMO, being patient, reading price, etc. However, the underlying issues aren't being addressed: [a short thread]

#Futures
If I'm avoiding FOMO, then what am I waiting for?

If I'm being patient, then what am I looking for to act?

If I'm reading price, what is it exactly that I'm reading?
The core issues for most are no longer under-capitalization and leverage (thanks to the push for micros that finally came to fruition). The underlying issues that must be resolved are...
Read 7 tweets
FuturesTrader71 Profile picture
Jan 11, 2022
A fundamental question that is overlooked as traders jump into indicators, tools, chart types, patterns, moon cycles or whatever: why should the market reward your trade? Why here? Why long or short? For what target and at what stop? Cont... #trading
What inefficiency are we exploiting? Why is this price unfair? Is our evidence based in fact? Statistics? Or.... #trading
Is it because our moving average crossed & that's all there is? Or maybe some dot showed up on our chart?

Think about it: Everyone is seeing the same price, time and volume. These are the elements.

Knowing that, what is it we are doing that deserves to be rewarded? #trading
Read 9 tweets
FuturesTrader71 Profile picture
Sep 30, 2020
Traders: The holy grail of trading and the best advice I can give you about trading futures is below...

#ES_F #trading #futures
1) Your job is align with the market. It is not to be a mind-reader, a forecaster of economies, an analyst
2) To win, you have to have 4 things correct in YOUR trading timeframe:

1. Direction
2. Stop size
3. Entry location
4. Targets
Read 17 tweets
FuturesTrader71 Profile picture
Sep 3, 2020
Can I get on my soapbox here for a minute?
Based on comments made on #TraderBite this morning about the trend up yesterday and how it contained a TON of delta divergence sell signals and seemed to rise on negative delta. Many have emails, DMed, etc. Saying they were the "imbecile" selling all the way up....
So I get why this happens and how enticing it is to try to call a top and catch that turn for a super-dose of dopamine and euphoria. BUT this is not trading. Not by a mile. It isn't stupidity, it is just not recognizing where we are on the map and staying objective....
Read 12 tweets

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