Public AMA on making the turn in trading
To view the video, click on the image above.
Convergent Trading opens this session up to all traders interested in a discussion about making the turn. We go over the common experience of a trader who is doing the work and is seeing consistency in their results. We also discuss what the turn looks like from our experience.
After a brief presentation, @FuturesTrader71 then opens it up to questions from the attendees.
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FT, can you comment on what would help someone, that has seen the opportunity that the market offers, knows that, albeit small %, there are people that make consistent $ from the markets, yet due to his own excessive losses and failure for years can’t translate that belief for themselves and constantly deals with fear and doubt that he can achieve the success he “sees” possible in the market? How can a person get over this “giant heavy rock” crushing them constantly?
Do you credit a particular lesson, moment, tool, and/or trading metric/strategy as the primary driver in becoming a successful trader?
As a small retail equities trader, I have two main obstacles, maybe you can comment upon. 1) Screening for the best opportunities for me (swing trades mostly); the tools available are limited. I’m on StreetSmart Edge. 2) When I review past trades, I can see I missed good profit exits and sometimes even let them slip to a loss (!). Again- not to blame tools, but indicators that help reveal reversals seem absent/lacking/lagging.
Is there a method to overcome my ‘blind spots’?
Dear Morad!
Thank you very much, for all the good work you do.
It is a great help to me, thank you.
But it is too difficult to enter io. I give up
But I will gladly follow the daily traderbite
Kind regards from The Netherlands
“But it is too difficult to enter io. I give up”
Can you please elaborate? I’m not sure what you’re referring to. Is it too difficult to enter trades?
Thanks for all of your questions! We will do our best to answer them in the AMA.
I’ve been following FT’s morning overviews for a few weeks to get a sense of his process. His analysis seems to assume that once his levels are broken, price will trade to the next level. Is this an accurate assessment? As someone new to trading the ES, I can identify good levels but often get caught on the sidelines as price grinds in one direction with little pullbacks. This is much different than many FX markets that usually test and retest levels all day. Do you have any suggestions on jumping onto these daily trend days? I find it difficult to buy at highs/sell at lows because identifying a trade invalidation point seems arbitrary when there is little structure to lean against.