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How to become a successful futures trader
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How to become a successful futures trader

  #1 (permalink)
Trading Apprentice
Newyork
 
Futures Experience: Beginner
Platform: Sierrachart
Favorite Futures: ES
 
Posts: 6 since Aug 2015
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How to become a successful futures trader

Hi Folks,
I am new in trading and lost too much money so far and getting disappointed Could you please guide me how I can be a consistent winner? What should I do? What strategies/methods do really work? Is there any good and reliable trading room which calls trade (futures) with more than 70% winning rate? I tried few rooms and almost all of them were loser or at least break even. Any advise would be appreciated.

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  #2 (permalink)
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Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Omer עומר / Israel י
 
Futures Experience: Master
Platform: NinjaTrader, Proprietary,
Broker/Data: Ninjabrokerage/IQfeed + Synthetic datafeed
Favorite Futures: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
 
rleplae's Avatar
 
Posts: 2,485 since Sep 2013
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A few items
- study / work a lot, there is no real short-cut into becoming a profitable trader, most likely there is possibility to make money i another activity easier, if you don't want through the learning curve
- forget all trading rooms
- forget all fancy indicators
- don't change every other day
- your trading style must fit your personality, there is not good and wrong
- don't trade real money until you are profitable on SIM
- keep in mind trading real money is still very different
- be prepared for a lot of study and a lot of screen time

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  #4 (permalink)
Elite Member
SF Bay Area + CA/US
 
Futures Experience: None
Platform: Tradestation, Ninja
Favorite Futures: NQ ES & Equities
 
paps's Avatar
 
Posts: 1,512 since Oct 2011
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yupp trading rooms you will see in course may not be worth it.....

am/been on a few twitter based stuff ....and see they are a hit and miss....and most may not use any special apps/indis.

not saying everything is useless but if they actually trading large AUM, but person following is a 1lot trader may not have anything in common to the person holding x+Mill and trading. spending money on useless stuff is also an art...wink

but i think @rleplae hit it...if not profitable on SIM....and you dont sweat if on SIM.....SIM will not get you far

from a trading perspective....people go for the grail. it is illusive. but there is a grail. however it is what you believe and can trust in...as its your money at risk and no one else's.

there is no single answer unfortunately. reason i said rooms cannot help....as they wont accept loses. its easy to give advice..likewise also on a bulletin board.

am not discouraging. i myself have also given a fair share to the market and also taken...however the given is bigger when you also count taxes paid on profits

what i realized is what i look for has to come from me..i.e for me i need to understanding charting, i need to understand OF. Period i need to know why price is moving...other than a exogenous event since i do not have news subscriptions.
There are many things i also do not look into which a well rounded trader does...which is Fx/Int Rates/Credit Swaps...etc..but for me that will come in time.

what i penned is not advise....but just some of my ramblings and 2cs which i try to follow as my quest to be in the markets. For everyone else it will be different

i wish you only the best.



rleplae View Post
A few items
- don't trade real money until you are profitable on SIM
- keep in mind trading real money is still very different
- be prepared for a lot of study and a lot of screen time



Last edited by paps; November 6th, 2015 at 04:54 AM. Reason: not advise
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  #5 (permalink)
Elite Member
Hilo, Hawaii
 
Futures Experience: Advanced
Platform: NinjaTrader, Thinkorswim
Broker/Data: TD Ameritrade, NinjaTrader(Dorman)
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behnod View Post
Hi Folks,
I am new in trading and lost too much money so far and getting disappointed Could you please guide me how I can be a consistent winner? What should I do? What strategies/methods do really work? Is there any good and reliable trading room which calls trade (futures) with more than 70% winning rate? I tried few rooms and almost all of them were loser or at least break even. Any advise would be appreciated.

Gotta find yourself a good system and stick with it

Sent from my SAMSUNG-SM-N910A using Tapatalk

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  #6 (permalink)
Elite Member
Vancouver Canada
 
Futures Experience: Intermediate
Platform: TOS, IB
Favorite Futures: es ym etf's
 
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behnod View Post
Hi Folks,
reliable trading room which calls trade (futures) with more than 70% winning rate?

If there was a guy/girl who could do that you really think they would run a trading "ROOM"?

For futures and I assume you mean eminis and not sugar hogs grains cattle I suggest to spend the next 3 months studying everything FT71. He gives away his vast knowledge for free, technical and on the psycho level.

-

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  #7 (permalink)
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Murrells Inlet SC
 
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Inletcap's Avatar
 
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Forget every single thing you have read or experienced thus far! CLEAR your head! Absolutely nothing should be in there.

Define your timeframe and watch only one single chart with NO indicators or anything else on that chart to "learn" your market. Mark areas of support and resistance and just watch how price behaves when it comes in contact with those areas. Think logically how you would want to play those areas in the future. Simulate those logical thoughts until they become second nature. Screen time with an open mind and nothing else- just see what happens- this is not about being right or wrong at this time.

Once you can do this, you can add analysis to build "context" and once you have a solid read on context you can have a "bias". Once you have a bias you can trade those S/R levels with confidence and make money. There are no shortcuts and no skipping steps by using anything like a "system". You must be able to read the market and act when YOU believe to act based on your analysis.

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  #8 (permalink)
Trading Apprentice
Richmond Virginia, USA
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: E-mini S&P 500
 
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Posts: 17 since Oct 2015
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rleplae View Post
- don't trade real money until you are profitable on SIM
- keep in mind trading real money is still very different

I think you should clarify a little more on this section. You NEED to take sim/demo trading seriously. A football team doesn't practice hail mary passes and flea flickers all week. They treat practice as real as the game. It's where you game plan to beat your next opponent. If you don't practice, you don't win. If you are planning on opening a $5K account to trade futures, then make a $5K sim account to trade futures. Don't trade a $100K or $1M account trading 1,000 lots. Take it seriously, and it will reward you when you go live. Take it as a game, and you will never learn.

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  #9 (permalink)
Trading for Fun
Västerås Sweden
 
Futures Experience: Intermediate
Platform: MarketDelta, TradeGuider
Broker/Data: TopStepTrader/Rhithmic
Favorite Futures: DAX, NQ, GC, QL
 
Posts: 148 since Sep 2014
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There are so many things that are so wrong with your questions it's not even funny.

The trading room you are looking for is the one to the left with a sign: "95%"

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  #10 (permalink)
Elite Member
Omer עומר / Israel י
 
Futures Experience: Master
Platform: NinjaTrader, Proprietary,
Broker/Data: Ninjabrokerage/IQfeed + Synthetic datafeed
Favorite Futures: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
 
rleplae's Avatar
 
Posts: 2,485 since Sep 2013
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Drtro View Post
I think you should clarify a little more on this section. You NEED to take sim/demo trading seriously. A football team doesn't practice hail mary passes and flea flickers all week. They treat practice as real as the game. It's where you game plan to beat your next opponent. If you don't practice, you don't win. If you are planning on opening a $5K account to trade futures, then make a $5K sim account to trade futures. Don't trade a $100K or $1M account trading 1,000 lots. Take it seriously, and it will reward you when you go live. Take it as a game, and you will never learn.

The difference between SIM and real, is that most (99%) of the persons, act completely different, when it is about real money. you can be 'cool' and relaxed and disciplined with a SIM account. Switching to a real account is not comparable for a big number of reasons :
- technical / latency / fills / etc
- psychology, greed, fear, emotions (that can make you violate your own rules and do stupid things

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