Northants Trading Room Idea

Funster

Newbie
6 0
Hi,

First post on this board but I am reasonably regular on elitetrader.

I am a trader of US stocks, futures and currencies based in East Northants in my mid thirties and have been trading for 5 years.

Although I have got to the stage where I know what I am doing I realise that my main fault is a complete lack of discipline.

In other words I have a view. The market goes in my direction. A little wiggle happens (which remains inside the parameters of my trading plan) and I exit. Only to see it rocket in the right direction. And then I get angry over an amount that is really piddling for me! I am actually right on general market direction most of the time as I try to wait for the right entries. Or just basic stuff like have to run an errand (for the wife, yes I don't "work for a living" because I am at home all day!) or bursting to go to the toilet then when you go that 1 minute window of opportunity occurs you have been waiting for all day/week. Happens all the time - I sometimes think I am cursed!

I have both automated and discretionary systems that are both solid but the same wiggling happens that really stops me from maximising their potential. At this moment in time my preference leans towards discretionary, mostly because news cannot really be safely automated at this time (unless of course you are an insider at the University of Michigan!!!).

I don't think I need to learn much more really - I went over to San Diego and have been taught by some very good prop shop guys. I have developed my own techniques from there, which are actually very good considering what a poker game the market can be sometimes.

What I think I need is an office environment with at least one other trader present going through similar pain at the same time so that we can help each other emotionally. I think that this would bring out some discipline in me.

I am reasonably capitalised and would be quite happy to invest in a mutual set up -t1, bloomberg, etc etc .I just don't want to travel to London every day (I suppose I am too well capitalized to want to do THAT run every day!).

So ideally I want to find one or two duplicates of me that live in or around East Northamptonshire wiiling to discuss the benefits and practicalities of a mutual trading office.

Perhaps one option is to work towards eventually starting a hedge fund. Cobblers Capital is a great name for those that understand! I used to be an entrepreneur (before I got into the chart bothering business) and started a sales company that eventually had 500 employees in my 20s, so have some experience in business stuff.
 

JeanM

Active member
116 3
Always nice to hear there is someone else trading in Northants. I think you may find there are not that many, or who use this board anyway. I would be no use to you as I trade the FTSE, and you sound much more experienced than me. Good luck anyway.

Jean
 

Funster

Newbie
6 0
JeanM said:
Always nice to hear there is someone else trading in Northants. I think you may find there are not that many, or who use this board anyway. I would be no use to you as I trade the FTSE, and you sound much more experienced than me. Good luck anyway.

Jean

Nice to hear from you! Kettering is a great night out, by the way. My wife works there too. I am in Rushden.

Trading the FTSE is not really an issue as far as I am concerned. I only trade what I do because it is convenient with standard software. I try not to trade after 6pm anyway. If there were two or three of us really committed we could get a deal from one of those US fcms to trade whatever markets we liked for very low rates. And I don't mind training someone a little. Just need that emotional/discipline support sometimes. Tried to teach my wife trading but she wasn't interested!
 

stevem12

Active member
135 1
Perhaps one option is to work towards eventually starting a hedge fund. Cobblers Capital is a great name for those that understand!

Shouldn`t you be trading the diamonds :?: :LOL: :LOL:

PS I`m in the capital of this great county of ours ;)
 

Funster

Newbie
6 0
stevem12 said:
Shouldn`t you be trading the diamonds :?: :LOL: :LOL:

PS I`m in the capital of this great county of ours ;)


(Saint !) Steve - well technically that is Irthlingborough. They came to our planet and conquered us!

What you trading fella?
 

stevem12

Active member
135 1
I trade some YM and some NQ, BUT, and it`s a big but, I`m thinking of looking at Nasdaq stocks and L2.

Steve
 

vaxxy

Junior member
22 0
Locate trader

Hi Funster,

I don't live in England but after reading through your thread thought I'd mention the 'UK Trader locator' option in the Community menu on this website. It may be of some assistance to you (or it may be useless to you) as it lists T2W members that live near you.

v.
 

picker

Junior member
10 0
Funster said:
Nice to hear from you! Kettering is a great night out, by the way. My wife works there too. I am in Rushden.

Trading the FTSE is not really an issue as far as I am concerned. I only trade what I do because it is convenient with standard software. I try not to trade after 6pm anyway. If there were two or three of us really committed we could get a deal from one of those US fcms to trade whatever markets we liked for very low rates. And I don't mind training someone a little. Just need that emotional/discipline support sometimes. Tried to teach my wife trading but she wasn't interested!

Glad you enjoy kettering and trading, shame your wife does not have the love of the markets that it do it will come as the money does!! i only trade any world index. i am short the Nasdaq at the mo!! take care!! Picker :D
 

dctaylor

Newbie
4 0
Hi Funster, came across your post whilst seeing who else was in the Northants area on here. Just wondered if you ever got anywhere with your local trading room idea? I have just started getting back into trading (well spreadbetting) after a break of around 4 years. I've only ever really dabbled in it to be honest but it's always been a bit of a dream of mine to trade for a living. Anyway, nice to see there's one or two others on here in my neck of the woods.
Derek
 
 
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