Where to now?

[Lxipi19]

Hello. This is my first article so please let me introduce myself.

I'm in a converstion stage of my outside 9 to 5 earnings making. For a little over a year now I have been making outside income from playing cards for money. Basically the entire idea with cards would be to play your edges well when you have the advantage in your favor. The problem is that this really is time consuming and I'm bored with that. There is also legisation to put an end to the sort of card playing I do. So.... I'm looking for something more legit, and something that I could grow with better as my earnings and assets increase. So my search has set me here.

For now I've read the 3 novels listed in the stickied posts: Trading in the Zone, Trade Your Way to Financial Freedom, and High Probability Trading.

I really do have a few questions right now though. What platform should I look at. Connect in his publiion enjoys Tradestation however it appears like Metatrader 4 is popular here. What I want in a platform would be the ability to write code so that the platform informs me when I have attained an entery and depart signal. I'd love to plan any system I use into the platform so I can possibly move to a computer based system daily what will do trading for me while I'm on the job.

Secondly: What trading system should I use to achieve my goal mentioned previously? Any proposal?

For now though I Believe I will have to Begin going through and writing a Trading Plan Template. I intend on utilizing the one published in the stikies since it seemed to work so well for Isotonic (thanks Isotonic)

Okay somewhat long winded here. If anybody has some suggestion or advice to get me up and running, or to point me in the ideal direction then please discuss. I'd appreciate all opinions.

Matt

[Jamkoblls]

Hello. This is my first post so please let me introduce myself.

Hello Matthew and welcome to the forum!

I'm at a converstion stage of my outside of 9 to 5 income making.

Me too. . It may be a long conversion for me personally, but we will just see how it goes. :--RRB-

For a little more than a year now I have been making outside income out of playing cards for money. Basically the whole idea with cards is to perform with your edges well when you have the advantage in your favor.

Your experience here will prove to be useful to trading. You may even be more knowledgeable than you may know. But of course, this may also be me. :--RRB-

The problem is that this really is time consuming and I'm bored with that.

Hmmmmm... Sorry to hear this, but you may also be exhausted trading when the time comes. When it does, what do you intend to do?
Are you going into trading for the excitement? You may want to rethink how you approach trading though (only a reminder or idea though). .

There is also impending legisation to put a stop to the type of card playing I do. So.... I'm searching for something more legit, and something I could grow with better as my income and assets increase. Thus my search has set me here.

Aren't we all? hehe. . Start searching from interior (sounds abstract although... sorry). . Well, that's where I began mostly. :--RRB-

For today I have read the three books listed in the stickied posts: Trading in the Zone, Trade Your Way to Financial Freedom, and Higher Probability Trading.

Great books in my personal opinion!
Good step too to proceed with all the trading template.

I really do have a couple questions right now though. What platform should I consider. Connect in his publiion likes Tradestation however it appears like Metatrader 4 is popular here. What I would like in a platform is the ability to write code so that the platform tells me when I have reached an entery and exit sign. I would love to program any system I use into the platform so I can possibly move into a pc based system one day what will do trading for me while I'm at work.

I really can't comment enough here since I haven't done any programming that much with platforms. But it's in my plans.
But for a suggestion, I will go first with the publicly available platforms.
MT4 or VTTrader.

I'm currently using MT4 but have not yet programmed too much with it.

Second: Imagine trading system should I use to achieve my goal stated above? Any suggestion?

This my friend, I cannot answer for you.
Either borrow among the available egies here:
https://www.nigeriaforextrading.com/...potential.html

OR here:
https://www.nigeriaforextrading.com/...n/89-walk.html

Or you can begin creating/designing your personal.

For me personally, I began with the publicly accessible systems since I had no idea with what system trading intended. What do folks put into systems development, etc..

If ever you plan on going along with your system, you may want to consult with:
1) Trade Your Way To Financial Freedom by Van Tharp (you have that )
2) The System Behind the System by our own sponsor Merlin Jeffries here:
https://www.nigeriaforextrading.com/...potential.html

Again, this is my route. It may not be your route, but as if you asked, it's only a suggestion. :--RRB-

For today though I believe I will need to begin going through and composing a Trading Plan Template. I intend on utilizing the one published in the stikies because it appeared to work so well for Isotonic (thanks Isotonic)

As I've mentioned previously. A very good next thing in my opinion. Go with it. :--RRB-

Ok a little long winded here. If anybody has some advice or suggestion to get me up and running, or to point me in the ideal direction then please share. I would appreciate all comments.

Matt

That's what you asked, that's what I gave. . :--RRB-

Hopefully it helps.

Regards,
East

[yas0201]

Between tradestation and MT4, tradestation drops by a mile. There are 2 problems with it 1) its $100 per month and two ) they dont offer micro accounts. If you have more then $10k to spend then you can get away with just a mni. In addition, in the event that you create 10 full lot excursions a month tradestation is totally free. So in case you have more then 10k to spend get tradestation or even get MT4 using a micro


once you pick your platform the next step is to begin learning how to plan it and testing systems. If you don't learn how to plan and backtest systems it may take you around a year to receive an adequate profitable trade plan going (assuming you want to use technical indiors).

As far as trading methods go, there are lots of great ones posted on this board. The greatest secret to earning profits is time. These system on here will make you money, some take longer then others. Also manual system tend to be alot more profitable then mechanical systems.

One trap to look out for is your must try even system trap. You try a new system and it doesnt seem to work the very first day so you try another system and so on. Find a system you want to know more about and back test it. In case it seems to give you the results you want forward test it for at least 30 trades before you give up on it. Not only can this give the system a fair shake but it will teach you concerning the market. Individuals who have great experience have had poor experiences

[kimohl22]

Welcome Matt! In terms of programming, there's no better free platform compared to MT4 in my view, VT Trader also is not too bad but not quite as well supported concerning independant programming help as MT4.

In terms of trading systems, I can't recommend one in particular, we all have our very own (I've documented among mine here: https://www.nigeriaforextrading.com/...s-signals.html, and you will not trade a system successfully, consistently, in my estimation until you feel you have ownership of that program, whether that's making your own from scratch or modifying someone elses.

My recommendation always is to learn about the fundemental element that makes up a any market, that's individuals. Oh and learn how to trade, not to only trade FX, as if the bug bites you as it has many other people here, then you will not want to just stick with the currency markets but proceed onto other instruments.

Last thing, if you become bored trading, then it is going to mean one of 2 things, either you're just not cut out to trade, or you're about to buy your first yaught as you have mastered a platform, and the discipline to stick with it.

Best of luck!

[oxjulano]

Welcome Matt! Concerning programming, there's no better complimentary platform compared to MT4 in my opinion, VT Trader also isn't too bad but not quite as well supported concerning independant programming help as MT4.

Sure MT4 it's the best FREE platform. Nonetheless, it is nothing compared with some non free platforms (even cheap ones). The lack of flexibility in time frames makes MT4 not usable at all... well, at least for me, because I rely on random ticks and volume bars.

[jllemisola]

Matt welcome to the forums. Metatrader 4 is popular with traders since its pretty versatily. . .plus it has great charting tooks built in. Another platform that some traders enjoy is VTTrader.