Welcoem to posts!!
in the future - u will be able to do some more stuff here,,,!! like pat catgirl- i mean um yeah... for now u can only see others's posts :c
🌟 Hey Traders! ☀️
I want to hear from you! 🤔 What messaging app do you use the most to communicate with other traders or your clients?
📱 Vote in the poll below!
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Question for Interactive Brokers users! What trading platform from IBKR do you use the most?
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What Does Financial Freedom Mean to You? I have some thoughts to share on this and I would love to hear your ideas below. 📩
When I first got into investing in 2018 I was looking for ways to obtain new streams of income. Mainly because I was in my mid 20s and had a lot of my cards in the same place. I felt like I needed to test another avenue and investing was one of the avenues I started to explore.
At the time when I first got into trading, I was fascinated of the idea of achieving financial freedom. Being able to do what I wanted, buy what I wanted, and eventually build, and provide for a family. This topic has become so taboo in the trading industry that nearly every single guru includes it in their marketing tactics. My perspectives on money and financial freedom have changed over the years and I want to share a bit.
For me financial freedom is not about making money. It's about having something to spend the money on. Read that again. It almost sounds counter intuitive. My belief is that people should have their goal, or objective in place first, and then find the ways to generate the money required to realize it. The money on it's own is just a proxy, a commodity. Putting the money before the goal can be a lot more dangerous than it sounds.
If I had to sum up why I think this way it would be 3 words. Body of work. I also think this is why most traders end up quitting after a time or changing to a different approach. Trading is not a job people do to obtain existential satisfaction.
What really matters at least for me, is to have something to look back on. Real tangible works that can be appreciated for years to come. A trading system or set of principles can also be part of a tangible work, though something deep inside of me knows that trading alone is not what I am on this earth to do. Trading is a part of it, but it is not the end goal. I am grateful for the skills and knowledge I have built up in my trading journey so far and I intend to pass it on any way I can. I view investing and trading as a proxy, because the currency being made is the proxy required to fund the tangible works that will remain when we are gone.
Maybe it's just me. The cars, the cribs, the bling bling, it's all nice however most of us know deep down we don't need any of that to life a full and satisfying life. I'd be just fine living in a clean apartment with a guitar and a laptop, and consistently hot weather. In reality most of us don't require very much at all in order to life a good life. We work so hard for other reasons, like providing for our family, trying to obtain notoriety, or coping for other deficiencies. Hell you could give me just the guitar and a recording device and I'd be fine. I think going broke is literally less than a 1% chance in 2024 if you have even a couple useful skills.
I think a lot of new investors are under the impression that making more money is going to somehow make their lives better, more fulfilling, or make them a better person. In some cases, more money can actually sabotage a person more than help them. Money amplifies the one that holds it.
You don't need more money than you actually need, or it starts to have a reverse effect. Throw an absurd amount of cash into someones hands and I will bet they will become borderline suicidal after a point. They are going to revert back to their baseline as fast as possible and for most of us that will be burning the money until we get to a point where we think we belong. One of those investing gurus once said "you need to be a millionaire in your head before actually having the million dollars." If you aren't a millionaire up there, and you get a million dollars, what good do you expect to come out of that?
I believe money is meant to be used, therefore invested, or spent, or held for the purpose of being put to use later. Just stacking cash is a sure way to life an extremely unproductive life, contrary to what the mainstream narrative loves to push about saving. Making money, spending it, risking it, and using it to build and produce works on the other hand, is a sure way to constantly improve, challenge yourself, while leaving a legacy behind. It takes currency to produce a body of work, and not as much people think.
Being financially free is so subjective. The reason I say this is because a lot of things that cost currency to obtain, can also be obtained without currency.
These have been some of my evolved ideas on money that I think new traders should start to think about. The money is the commodity that assists in changing reality. You need a reason to make the money, or it won't just appear in your trading account. I believe real success comes from necessity, not only just wanting to succeed. Needing to succeed.
If you got value out of this post all I ask is that you subscribe to my free Telegram channel where you will be notified whenever I go live or publish to YouTube: t.me/VerrilloTrading
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Would you watch a video of me building a Sierra Chart Advanced Custom Study from start to finish and showing the entire process? I'm documenting one study for this exact video. This study keeps track of the amount of activity occurring on the order book in real-time. The bid, and the ask, and computes this activity into a human readable format. It is just an experiment.
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Do you know what currency risk is? The problem of currency risk arises when an investor wants to invest in assets that are denominated in a foreign currency, but at the same time does not want to be exposed to the exchange rate between their home currency and the currency that these assets are denominated in. There are a few ways to tackle this problem by using hedging strategies. Stay tuned for an upcoming video that will provide information on this topic.
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Do you use the Trailing Stop order type in your trading? Hello viewers, in one week I will publish a highly requested video on the topic of trailing stops, and adjustable stops in IBKR. I think the video could be valuable for anyone looking to learn about the usage of the trailing stop order type. As always all opinions are my own, VerrilloTrading is dedicated to producing quality content on the topic of trading related issues and software.
-VerrilloTrading, Content Creator
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Hello viewers, here is a long awaited followup to a video that showed a useful Sierra Chart Advanced Custom Study, based on the Limit to Price functionality from Jigsaw Daytradr. If you want to get the study immediately you can send an email to support@verrillotrading.com to be added to the list. Or compile the code yourself on SC since this study only includes sierrachart.h.
This video demonstrates the following changes that were made to the study:
1. Enable support for Modify Pending Attached Orders when there is no open position yet.
2. Add support for Only Modify Active Attached Orders when in a position.
3. Allow the user to Modify the Limit Order to be at a price where it is marketable, in order to exit or reduce the existing position.
If the trader is long, they are permitted to move their limit target order to the current bid price which will hit the bid with the limit order. Previously you could only put the limit target on the ask (for a sell profit taker) and on the bid (for a buy cover).
If some users prefer that the Allow Move Target to be Marketable feature does not suit their trading, it can be modified to be turned on or off using an input setting.
A short trade example is demonstrated late in the video.
Good Trading,
VerrilloTrading, Content Creator
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The channel just zoomed past 30k subscribers. I just wanted to extend my gratitude to each and every one of you that have subscribed and engaged with the content. I will have a livestream Q&A coming up soon, in a few days. It will be scheduled in advance to let you know the exact time. If you have any questions you think I can answer, drop them here and I'll go over them in the livestream. Thank you for watching.
-VerrilloTrading (Chris)
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Quick question Traders! Which option do you think builds your emotional pain tolerance and financial risk tolerance the most? Keep in mind I am talking exclusively about funded futures companies not real proprietary trading firms.
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What is your regular holding period for trades? I know some investors might do more than one, please select the option you put more focus into.
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I help investors learn about software and tools used for navigating the financial markets.
I've been Investing and learning about Trading since Q3 2018. VerrilloTrading is working on providing quality information to the trading community through videos, as well as developing software to overcome all sorts of challenges. VerrilloTrading is interested in the development of technology for trading and money management.
1. I do not trade full-time and I primarily trade futures.
2. I am interested in software development, check out my repository (my background is in music composition & arranging).
3. Crypto is the market I am most fascinated by.