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Whats the best training program to learn futures trading?
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Whats the best training program to learn futures trading?

  #11 (permalink)
Elite Member
Charlotte, NC
Trading Experience: Intermediate
Platform: Tradestation, Ninja Trader
Favorite Futures: Forex
Posts: 34 since Sep 2012
Thanks: 25 given, 51 received

Price Action

I second the opinion of others below, you must learn to read Price Action. For that there are many options, the one that I like was the Al Brooks method as a starting point (then you may want to add volume profile, etc).

I recommend, watch all the free webinars from Al brooks here on BM, if you like you can purchase his video course (very affordable), and then spend many many hours watching price and trying to apply what you have learned.

Also, anything you learn via books, videos, etc,, you should watch it/read it many many times, immerse your self in it.

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  #12 (permalink)
Elite Member
San Antonio, Tx
Trading Experience: Beginner
Platform: Ninjatrader
Broker/Data: Ninjatrader, CQG
Favorite Futures: ES
Posts: 42 since Jul 2012
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anthony667 View Post
I'm new to futures and wanted to ask if there is any advice for the best education program to learn to trade? I've heard of Emni academy($5k) and The daytrading academy($5k), and the online trading academy (Priciest 10k+). I dont want to waste money on scams or expensive and useless indicator software. I understand the value of coaching and an education, advice from pro traders on how to get jump started?

From my experience I would recommend becoming an elite member here first. There is a lot to read and learn from other traders.

I was about to recommend Jeff Quinto's professional trader academy but I just went to the website and they are not doing the PTA anymore. It was only a hundred bucks a month over a few months to take the course so it was relatively cheap. Seems he is doing mentoring at Jeff Quinto | Professional Trader Mentoring Program. I don't know if I would pay almost ten grand for this new course though. You could always e-mail him and ask if there is anything he could do for you at a lower price, worse he could do is say no.

He was one of the first people I went to when I got into futures. He is on the CME website here : http://www.cmegroup.com/education/getting-started.html . If you google his name you'll find a video of his history and bio. He was president of Monroe Trout's firm, Rand Financial. There are you tube videos of him and there is a webinar here on futures.io (formerly BMT) by him. He has a partner named Aldo who is from Argentina I think. In my opinion I found the contributions by Aldo to be not so interesting lets say. A lot on Elliot wave and psychology. If only Aldo was offering trading education I would pass.

Good luck with your search.

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  #13 (permalink)
Elite Member
Washington DC
Trading Experience: Advanced
Platform: TT
Broker/Data: Dorman
Favorite Futures: US Treasuries
fminus's Avatar
Posts: 129 since Sep 2009
Thanks: 156 given, 289 received

the beginner's fallacy

The new trader aspiring to be the next trading god has his work cut out for him. Barrier to entry in this business is minimal to none. It requires nothing more than to sit at a computer and click a mouse button. How difficult can that be? He knows how to use a computer so he thinks half the equation is already reached. Now all he needs is someone to teach him when to click that mouse button to do this full-time and buy that ferrari, mansion, or yacht. The dream is enticing and possibilities seem endless.

His first wise decision is to become an elite member and watch all the webinars. That was a lot of time spent and all this jargon about price action, market structure, context, etc makes no sense... there must be an easier way. So he pays some vendor to teach him how to trade. He now has a firmer grasp on the setups yet they still feel foreign and for some reason when the vendor's setups only cause you to lose money; but he said it works... Dejected and frustrated the trader starts tweaking the setup with indicators and timeframes; it now looks nothing like the original and trader loses more money. Trader decides to find the right indicators that will show him when to buy a sell and hobbles 50 indicators on a chart where half show the same thing and the other half contradict the first half. Finding himself in a analysis paralysis he takes stabs at trades anyways and loses money. He goes back to another paid vendor then back to indicators, then back to another vendor, then back to indicators, the cycle is viscous and endless.

Years later, he realizes that this isn't easy at all and having been wanting to quit a countless number of times, decides that this is bullshit and gives up or keeps trying to find the holy grail. He is now trading with emotional baggage and trading all over the place and he finds himself fighting with his demons in addition to the markets. He decides to really put the work in and take this seriously instead of a get rich quick plan and truly understand auction market theory and why price does what it does.

He starts to realize that this is a mind blowing complex market with an infinite number of reason why someone would buy or sell. He now has to learn market fundamentals in addition to technical analysis, market auction theory, money management, and price action. What the hell! He starts the slow grind of learning all these concepts through books, futures.io (formerly BMT), webinars, etc endlessly.

He starts to develop a feel for the markets and stopped hemorrhaging his account. He is breakeven at best but he feels like he knows what the hell is going on now. He continues to hone his craft and slowly but surely starts to increase his size.

He now understand why people say the negative things that they say on the forum about finding a vendor to teach him how to trade. They were right.

In trading, shortcuts lead to the longest path possible.
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  #14 (permalink)
DF, Mexico.
Trading Experience: None
Platform: Sierra Chart
Broker/Data: IB/DTN IQ Feed
Favorite Futures: Futures and Stocks
rhuz's Avatar
Posts: 286 since Apr 2014
Thanks: 354 given, 399 received

I would suggest you to invest only on the futures.io (formerly BMT) Elite membership fee (just because it's worth it) and then go and read all the posts you can in the Spoos thread. Do not try to replicate their charts, method or anything else this are not the important things, learn how they view the market, learn from their experience and learn from their insights. The answer is not what is in front of your eyes but behind them. I'm a beginner but the most important thing you can learn is that charts, fundamentals or anything else are not important or predictive per se, they are important by how people interpret them. The most important thing you will learn from that thread is to develop your own methodology and the reasons why you should do that. It will take time but in my short experience I can tell you that there are not shortcuts and the only way you will be able to trade a method is if you have confidence in it and that will come from you developing it.

This is a phrase I read a lot around futures.io (formerly BMT) and I think it resumes must of what is needed to do in trading.

Talk the talk and walk the walk.

I wish you luck in your journey.

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