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80/20 index futures?
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80/20 index futures?

  #1 (permalink)
Trading Apprentice
Singapore
 
Futures Experience: None
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Favorite Futures: Options, Emini
 
Posts: 4 since Apr 2017
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80/20 index futures?

Hi all,

Can someome pls guide me to the 80/20 way to acquire 80% (or whatever max %) info on how to get started with index futures trading (emini and russell mainly)? any specific courses? I have been trying to find a good course that can at least get me started with sim trading and then I plan to acquire more detailed info/fine tune along the way.

I just need to get started and am looking for the shortest way to acquire the 80%.

Thank you.


Last edited by ratrading; June 5th, 2017 at 06:40 AM.
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  #2 (permalink)
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  #3 (permalink)
Market Wizard
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ratrading View Post
Hi all,

Can someome pls guide me to the 80/20 way to acquire 80% (max) info on how to get started with index futures trading (emini and russell mainly)? any specific courses? I have been trying to find a good course that can at least get me started with sim trading and then I plan to acquire more detailed info/fine tune along the way.

I just need to get started and am looking for the shortest way to acquire the 80%.

Thank you.

Hi there,

a sensible question, that of the 80% - my take is: the shortest way to acquire the 80% is screen time, i.e. your own time spent in front of the screen analyzing what price does, either via a chart, a Dept of Market or a combination of both. In this way you will start seeing things, patterns, etc.

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  #4 (permalink)
Trading Apprentice
Singapore
 
Futures Experience: None
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Favorite Futures: Options, Emini
 
Posts: 4 since Apr 2017
Thanks: 6 given, 1 received


xplorer View Post
Hi there,

a sensible question, that of the 80% - my take is: the shortest way to acquire the 80% is screen time, i.e. your own time spent in front of the screen analyzing what price does, either via a chart, a Dept of Market or a combination of both. In this way you will start seeing things, patterns, etc.

Thank you Xplorer,

And could you pls advise me on what basic concepts I must know for trading Eminis? Which elements of TA I should focus on to achieve the 80%? Trends, price action, indicators? Its all overwhelming and I am seeking an effective plan that is achievable in a few days/weeks so I can start sim trading and then be able to study the charts in a meaningful way. Thank you

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  #5 (permalink)
Market Wizard
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Get on the path

Hi @ratrading

You are already on the boat
Your 100% investment right next is to get a Elite Membership here on fio!
(I am not profiting from )
Then read the main and biggest threads from the FIRST post to the last. Help there is a guarantee.
From that point make your plan how to get into YOUR market.
"Know Thy Market" as a fio crack always tells will be your goal.
As @xplorer told - screen time, testing, backtesting etc. are most important for your success.

Pareto rule 20/80 is exactly what to do here:
Invest 20 percent of your time in this valuable forum and then profit 80 percent from it.

Good trades!

GFIs1
who has not said: "good luck!" As success comes from smart time and money management! And THIS pays out.

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  #6 (permalink)
Market Wizard
London UK
 
Futures Experience: Beginner
Platform: CQG
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xplorer's Avatar
 
Posts: 2,928 since Sep 2015
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ratrading View Post
And could you pls advise me on what basic concepts I must know for trading Eminis? Which elements of TA I should focus on to achieve the 80%? Trends, price action, indicators? Its all overwhelming and I am seeking an effective plan that is achievable in a few days/weeks so I can start sim trading and then be able to study the charts in a meaningful way. Thank you

My take is, different people find different things that work for them, so it all starts with screen time and then it develops from there.

I would also say, effective plans achievable in days/weeks may be extremely rare in trading.


My 2 cents.

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  #7 (permalink)
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Omer עומר / Israel י
 
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I think you can watch the screen until the cows come home...

If you don't have an edge, you are death in the water.
you need to fine a secret sauce, something you know that works, and it must fit your personality

What good does it make, i call you, i tell you to do this.. you don't feel comfortable with the what
i tell you to do, by the time we hang up the phone, you would have made 10K$ if you had done
it.. but you did not do it, as you didn't feel comfortable doing it (wish is the good decisions after all)

Conclusion, even if i am able to call out over-leveraged laser-beam precise calls,
if you don't feel it right, it will not work, or you will pre-emptive close it

take your time
watch, observe, learn
do sim trading
maybe do a topsteptrader (or similar
and evaluate

Don't but your own bucks on the line until you have proven to yourself
don't believe any "get rich quick schemes"

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  #8 (permalink)
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Tampa florida usa
 
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Welcome. In my opinion all successful trading strategies are slight variations on two concepts. Either price action as it relates to support and resistance or order flow analysis. They both work. Its a question of how well you master them. Search this site for both and you will get a wealth of information.

Sent using the futures.io mobile app

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  #9 (permalink)
 Vendor: www.orderflowdashpro.com 
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I'm not sure of any courses. But, I might recommend the following books:

Gary Smith's Trading For A Living
The New Trading Systems and Methods Perry Kaufmann
Building Winning Algorithmic Systems by Kevin Davey
... Also look for newer books which may have more relevant information. Just keep in mind, a lot of information will conflict.

Get Ninjatrader for the simulator and market replay
Get Tradestation to run start to run, at minimum, simple analysis

You will need to decide if you want to use discretion in your trading or trade systems. Developing ability to read tape is quite powerful but systems are also powerful: so you might prefer a mixed or graybox approach which is probably more professional then a pure discretionary technique. I'm somewhat partial to tape reading but it's difficult to learn and not possible from a book. One thing, I'd advise to stay away from quasi-mechanical approaches: those are approaches that aren't tested and don't allow for discretion but require following a rigorous set of mechanical rules that probably don't work. In regards to sim trading, you need to make it as realistic as possible and also you need to be realistic about how much risk you can really tolerate. What happens to a lot of sim traders is that they normally trade with a large stop loss, which works and could work in the live, but then they go to the live account and immediately change their risk tolerance which means that they aren't properly trained for the new reality. You should also be advised limit orders may or may not fill in the live: use the most realistic settings possible, i.e. not too pessimistic or optimistic.

There are basically two aspects or goals of sim trading/training: become familiar with the order execution platform so you don't make costly mistakes and develop your trading method. As for costly mistakes, if your software connects to a 3rd party broker execution platform then you need to test that out thoroughly or avoid complicated setups. Beyond that, order entry mistakes can be costly and are surprisingly easy to make. If you trade multiple contracts, you need to learn how to split them on the DOM: most platforms don't even support that easily which is ridiculous. I'd probably advise to learn your market analysis at same time you work on your trading or else you will need to do a two-step integration process. Also, you need enough time on the simulator to develop confidence but not too long. When you meet some minimum performance requirements, I'd recommend to go live sooner then later but not view it as an all or nothing process. You can move from sim to live and gain some new information and then go back to sim if need be. If you have enough for a larger account, I'd suggest to trade well below your means until you develop your craft: if you have enough to open a 50k account then one might instead open only a 10k account: something large enough to generate respect but still preserve the majority of risk capital.



ratrading View Post
Hi all,

Can someome pls guide me to the 80/20 way to acquire 80% (or whatever max %) info on how to get started with index futures trading (emini and russell mainly)? any specific courses? I have been trying to find a good course that can at least get me started with sim trading and then I plan to acquire more detailed info/fine tune along the way.

I just need to get started and am looking for the shortest way to acquire the 80%.

Thank you.



Last edited by tpredictor; June 7th, 2017 at 10:10 PM.
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  #10 (permalink)
Trading Apprentice
Singapore
 
Futures Experience: None
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Favorite Futures: Options, Emini
 
Posts: 4 since Apr 2017
Thanks: 6 given, 1 received


hi all

@Traderjohnsblog, @GFIs1, @xplorer - thank you for your advise

@rleplae - that makes complete sense - thanks

@tpredictor thats very kind of you. I am looking into your suggestions.

My best wishes to you all.

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