can I please call someone to ask a few questions about futures?
I joined here this month and the amount of information here is great yet overwhelming. Great facts, opinions but I have some questions of my own and in all honesty I will post them but I would greatly and sincerely appreciate if someone can spare an hour of their life for a newbie like me. My goal is to make futures/options a supplemental source of income and I think my free time can be best spent with my family first, then making money second.
That being said, the questions I have have so many follow ups that again, a phone conversation with anyone who is seasoned or has experience in the arena would help me best.
The best way to learn is sometimes to teach what you already know. If you can message me your availability and a phone number, your time can will be compensated with a generous thank you and in whatever you believe as the divine, they will somehow get you back.
just a high level on some of the questions I have:
Futures, why are they so hard? stop order vs limit order? where do most of you wrong?
Options on futures?
if you were to start fresh all over again, what would you do?
your experience on best platforms?
i have an entire month off from work coming up soon transitioning jobs - what should i learn?
what do prop firms do in essence?
etc etc etc
Not to be cynical, but I doubt any trader who is worth talking to is going to call you, without knowing you (I could be wrong, of course).
All of the information you outlined is already here on the forum, all you need to do is look for it (using the search function). It will take a lot of your time and effort to do so, but it's well worth it. I'd look into getting an elite membership here as well, as more information will be available to you that way (including the webinars, which are great sources of info for someone just starting out).
Last edited by zander931; February 5th, 2015 at 07:58 PM.
The following 3 users say Thank You to zander931 for this post:
Do some self-study, some searching on the forum, and then you can begin to lay a foundation and build a framework for what you know. Then you will better know what questions to ask. You are not really ready to understand anything yet. Figuring out any discipline takes time, effort, and requires you to formulate your own model for how things work, and this won't come from an hour phone conversation. Best of luck to you!
The following user says Thank You to josh for this post:
My humble opinion, all the information you need in your quest to become a successful trader can be found here on futures.io (formerly BMT). Or put another way, all the information I need can be found here. I think its really up to me to spend the hours searching it out and sorting through it, applying what appeals to me, what works with my method, what doesn't, etc. Like the gentleman said above, get an elite membership. It has to be the best $100 bucks I've ever spent for trading. Good luck in your journey.
-"How can people get to that carefree frame of mind that you talk about?"
-"By changing the way that they think. They have to eliminate the potential to think that the market is going to disappoint them. And the way they eliminate that potential is by understanding that trading is not about being right or wrong. Itís a probability game."
Would recommend the opposite. There are good books but for every 1 good one, there are 100 ones with misleading ideas, wild goose chases, and outdated nonsense, most based on backward-looking, static data that has little relevance in today's market.
Ditto that for courses -- despite some good information, the new trader has no filter to separate the wheat from the chaff, and it's just about all chaff, and very little of value that can't can't be found for free online.
Better to open a micro forex account for $500 that one is willing to lose, and see how things work, than to spend triple that or more on a course taught by people who want to sell indicators.
Opening an account, no matter how willing you are to lose it, with no idea of what you are doing to "see how things work" is more of a way to build a bad trader. In my opinion, either they do well and get cocky, or they lose it (more likely) and drop out of trading. This will rob them of a real education in a field that requires a lot of work to become successful.
I say read some of the best regarded trading books. Like I said, only follow sources that are well regarded. This is easy enough to determine just using Google. Then branch out to a paper trading account. If you can't take this seriously then you are not willing to put in the time to learn how to trade.
Anyone can be a successful trader. It's all about if they are willing to devote themselves to it.