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



Whats the best training program to learn futures trading?


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one bobwest with 3 posts (5 thanks)
    2. looks_two fminus with 1 posts (4 thanks)
    3. looks_3 Quick Summary with 1 posts (0 thanks)
    4. looks_4 stevew18 with 1 posts (12 thanks)
      Best Posters
    1. looks_one stevew18 with 12 thanks per post
    2. looks_two lsubeano with 10 thanks per post
    3. looks_3 Devil Man with 4 thanks per post
    4. looks_4 bobwest with 1.7 thanks per post
    1. trending_up 14,924 views
    2. thumb_up 44 thanks given
    3. group 16 followers
    1. forum 13 posts
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Whats the best training program to learn futures trading?

(login for full post details)
  #1 (permalink)
anthony667
Franklin Lakes NJ
 
 
Posts: 16 since Feb 2015
Thanks: 7 given, 5 received

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?

Reply With Quote

Can you help answer these questions
from other members on futures io?
Multichart NET: where can i find esplanation on CustomIn …
MultiCharts
1-min Intrabar indicator
MultiCharts
Need help with strategy PriceActionSwingPro
NinjaTrader
Is there a way to rename an existing trade?
MultiCharts
heatmap order flow +
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on futures io
How much do you know about Bitcoin?
91 thanks
FIO Journal Challenge - April 2021 w/Jigsaw Trading
38 thanks
The Crude Dude Oil Trading System
36 thanks
I finally blew up an account
35 thanks
The tiyfTradePlanFactory indicator
21 thanks
 
(login for full post details)
  #3 (permalink)
 cory 
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
cory's Avatar
 
Posts: 6,044 since Jun 2009
Thanks: 857 given, 7,916 received


take 150 from that 5K, buy a membership, read all threads, watch all webinares and suddenly you realize you dont need that course (result: save 4850, now that is a good investment).

Reply With Quote
The following 3 users say Thank You to cory for this post:
 
(login for full post details)
  #4 (permalink)
 stevew18 
Stamford, CT
 
Experience: Advanced
Platform: Ninja
Trading: Crude
 
Posts: 10 since Nov 2010
Thanks: 5 given, 13 received

In my humble opinion, if I were just starting out again I would specifically spend my time on learning price action and nothing else. Learn to trade off of 1 chart add no more than a moving average such as a 20 ema for a frame of reference. It is possible to become very successful trading exclusively this way. There are educators out there that teach this and are reasonably priced. There is also a lot of free price action information and webinars on Big Mike's. Such as Al Brooks, Vince Virgil, PAT and many others.

Understand, recognize and learn how to draw trend lines, channels, support and resistance, consolidation areas, measured moves, symmetry and basic price action patterns. I suggest your trading time frame not be too fast and as beginner give yourself a little wider stops then you might be comfortable with and trade with less size (Sim to start).

Learn to be patient and let the trade come to you. Once you start to learn more about yourself focus on trading methods that are best for your psychology and not what you think will make the most money.

Be open minded to trade any market. Many traders in the beginning think the emini S&P is what they should trade but in the end they realize their personality type fits the price action of crude oil for example.

Once you learn price action in its purest form I think you can then begin to expand your knowledge on other methods and trading tools. I would suggest auction theory and understanding the concepts of market and volume profile. I would also watch every FT71 webinar on Big Mikes.

Reply With Quote
The following 12 users say Thank You to stevew18 for this post:
 
(login for full post details)
  #5 (permalink)
 lsubeano 
hollywood
 
Experience: Intermediate
Platform: thinkorswim
Broker: TD
Trading: futures
 
lsubeano's Avatar
 
Posts: 213 since Jun 2010
Thanks: 65 given, 165 received


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?

anthony.....


RUN! lol

but seriously.....you need a full approach to trading and a system or strategy is a quick way to go broke. you have to learn how to trade if you want to have a chance!

...but if you are going to spend $

I'd say:

1) work privately for 3 days or do seminar and then do a 1 day private (once you've gone live a few months) with Joe Ross

2)MACKs priceaction trading is by far worth $100....by far! (did I say by far!) open an account, trade a 10k sim with 1 contract (yes I said 1) and when you can double it, go live

3)lance beggs ebook is very concise and you will have to read it several times....but don't rush thru it!

and of course spend the $ on elite membership here....

don't fall into a newbie trap!

don't go live until you learn how to trade!
don't quit a job and trade full-time
and please give up right now on your idea that there's a holy grail out there... there is none so get over it.

...and on that note while you're doing that

a)create a healthy lifestyle in all areas of you life

b)reduce stress and create a stress management routine

c)live in the moment and enjoy every moment you have and be content with what the market gives you


never lean on the side of greed!

once you master all those then'll you'll be ok!

Follow me on Twitter Reply With Quote
The following 10 users say Thank You to lsubeano for this post:
 
(login for full post details)
  #6 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,491 since Jan 2013
Thanks: 49,129 given, 21,780 received


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?

Even if something like these is not a scam, and even if it actually could work, it still is going to be useless to you. You are simply going to have to find your own way.

(And, by the way, anything where they want that kind of money is a scam, at best.)

You are just going to have to dig in and find what works for you. That means understand the markets and trading, and understand yourself, all hard stuff. There are a lot of people who want your money, and who know that people who are interested in trading may be willing, and able, to pay it. Question: if their stuff is all that good, why would they be willing to sell it to you? Why would they not just use it and make millions themselves, instead of getting money from you? Hmmm.... Answer: your money is much easier for them to get.

Use the resources of futures.io (formerly BMT) wisely, read the posts and consider the much lesser amount of an Elite membership, which gives wider access. Whatever you do, don't expect anyone to give you "the answer." If it were that easy, everyone would be rich.

And, good luck with the journey.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to bobwest for this post:
 
(login for full post details)
  #7 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,491 since Jan 2013
Thanks: 49,129 given, 21,780 received


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?

Although so far, most of the feedback you've gotten has been negative, you could look at vendor reviews for any that interest you. The Search function at the top right of the page is a good tool; go to Advanced Search, put in the name of the outfit and select "Vendors and Product Reviews" as the forum to search.

For instance:

Latest post is from October 2014.

Latest post Sept. 2014.

Latest post Nov. 2014.

Learning to search is a good idea. You'll get a lot of stuff that way here.

Most of the vendor reviews that I have read, which are not many, are not too positive. But you do get real-life feedback from people who have either tried them or at least looked at them, which can be valuable.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to bobwest for this post:
 
(login for full post details)
  #8 (permalink)
 Devil Man 
Legendary Capt. Johnny Jameson
Fort Lauderdale
 
Experience: None
Platform: Optimus Flow, NT8. TS
Broker: CQG, Rithmic
Trading: ES
 
Devil Man's Avatar
 
Posts: 811 since Oct 2009
Thanks: 3,055 given, 1,427 received


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?

watch this:


and this:
https://futures.io/webinars/mar19_2011/afternoon_with_big_mike/

....and become an elite member.

Johnny



_

Reply With Quote
The following 4 users say Thank You to Devil Man for this post:
 
(login for full post details)
  #9 (permalink)
 TickedOff 
Sydney, NSW, Australia
 
Experience: Intermediate
Platform: NinjaTrader with Jigsaw DOM
Trading: CL, 6E, ES, Piano
 
TickedOff's Avatar
 
Posts: 264 since Nov 2014
Thanks: 229 given, 241 received


stevew18 View Post
In my humble opinion, if I were just starting out again I would specifically spend my time on learning price action and nothing else. Learn to trade off of 1 chart add no more than a moving average such as a 20 ema for a frame of reference. It is possible to become very successful trading exclusively this way. There are educators out there that teach this and are reasonably priced. There is also a lot of free price action information and webinars on Big Mike's. Such as Al Brooks, Vince Virgil, PAT and many others.

Understand, recognize and learn how to draw trend lines, channels, support and resistance, consolidation areas, measured moves, symmetry and basic price action patterns. I suggest your trading time frame not be too fast and as beginner give yourself a little wider stops then you might be comfortable with and trade with less size (Sim to start).

Learn to be patient and let the trade come to you. Once you start to learn more about yourself focus on trading methods that are best for your psychology and not what you think will make the most money.

Be open minded to trade any market. Many traders in the beginning think the emini S&P is what they should trade but in the end they realize their personality type fits the price action of crude oil for example.

Once you learn price action in its purest form I think you can then begin to expand your knowledge on other methods and trading tools. I would suggest auction theory and understanding the concepts of market and volume profile. I would also watch every FT71 webinar on Big Mikes.

I back steve 100%. When I first started out I had things like RSI up and after a while I just didnt use them at all, I didnt think they gave me an edge. I then progressed to pure price action, trading off s/r and using volumes and chart developments to get an idea of what the market was doing. Something I am now focusing is using order flow using the jigsaw add-on for ninjatrader, I think this gives you so much more information and feel compared to if you solely look at charts. I recommend you check out the jigsaw channel on youtube, he explains order flow concepts quite well. You are looking for aggressive buying/selling (lots of market orders in one direction) and also absorption, how much heat the bids and offers are willing to take at each price. Theres a drill I did during an evaluation period for a prop firm called cut and reverse, where you have to stay net long or short. This is excellent because you are in the market all the time (this helps me focus and stay alert, it can be wearing but I loved it) and its hard for you to develop a bias because you need to look for opportunities on both sides. In addition to this, I would recommend trading without charts, just looking at the DOM, that way you have no preconceived notions of how price should move, and you can purely focus on the orderflow. I am currently doing this because many times I am entering too aggressively into the market with limit orders thinking I know price will do this or that when in reality I cannot know this, I do think there are times where this is appropriate (at significant levels) but I do it way too much. Note that you need a good DOM like the one on XTrader, OEC trader or the jigsaw DOM for ninjatrader, you need to be able to see size printing into the bids and offers.

Also, no matter what your method is I think psychology is very important (maybe not so much if you build systems) because it will influence how you trade. There is an excellent book called the daily trading coach, gives a lot of useful insights. And you probably hear everyone say, keep a journal. This is so key, take note of how you are feeling about certain trades, write down your thinking process, keep a record of your p/l each day. Remember the goal is to improve your trading, when you start out your p/l will mostly be in the red (unless you are one of the very rare guys who picks it up trading pretty quickly), so you need to focus on process goals and reward yourself for things like sticking to your rules. Maybe you hit your daily loss limit and you stop trading. Frame that as a positive - it is a show of discipline. Or you have problems overtrading so you become more selective with your trades, also a positive. No matter how much you know or how much skill you have, if you dont have a sound mindset you will keep sabotaging yourself. My anxiety to perform and put on trades has led to a lot of trouble with me putting on mediocre trades and playing scared, journaling and becoming aware of thought patterns and feelings associated with poor trading as well as good trading has given me more control over my pyschology because I can then take steps to address issues as they arise (e.g. slowing and deepening breath, taking a quick break from the screen, to reduce anxiety).

I should also add that you need to find something that works and makes sense to you. I enjoy scalping thin, fast moving markets (oil, nasdaq, gold) because it suits my personality and skill set. Some guys prefer slower markets (e-mini snp moves at a moderate pace, treasuries are very liquid and move quite slowly). Other guys dont trade directionally they spread trade, and some guys arent great at discretionary trading but are great at building trading systems. While there is no holy grail, perhaps there are personal holy grails.

Understanding yourself is just as important as understanding markets.
Reply With Quote
The following 2 users say Thank You to TickedOff for this post:
 
(login for full post details)
  #10 (permalink)
 DoctorDirty 
Fukuoka-shi, Fukuoka-ken, Japan
 
Experience: None
Platform: NinjaTrader
Trading: Futures
 
Posts: 46 since Sep 2013
Thanks: 43 given, 20 received


I always suggest reading this thread before buying any products/programs.


Reply With Quote
 
(login for full post details)
  #11 (permalink)
 hectormas 
Charlotte, NC
 
Experience: Intermediate
Platform: Tradestation, Ninja Trader
Trading: Forex
 
Posts: 34 since Sep 2012
Thanks: 25 given, 54 received

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.

Reply With Quote
 
(login for full post details)
  #12 (permalink)
 AlexB 
San Antonio, Tx
 
Experience: Beginner
Platform: Ninjatrader
Broker: Ninjatrader, CQG
Trading: ES
 
Posts: 42 since Jul 2012
Thanks: 61 given, 25 received


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 : https://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.

Reply With Quote
 
(login for full post details)
  #13 (permalink)
 fminus 
Washington DC
 
Experience: Advanced
Platform: TT
Broker: Dorman
Trading: US Treasuries
 
fminus's Avatar
 
Posts: 126 since Sep 2009
Thanks: 156 given, 291 received

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.
Reply With Quote
The following 4 users say Thank You to fminus for this post:
 
(login for full post details)
  #14 (permalink)
 rhuz 
DF, Mexico.
 
Experience: None
Platform: Sierra Chart
Broker: IB/DTN IQ Feed
Trading: Futures and Stocks
 
rhuz's Avatar
 
Posts: 286 since Apr 2014
Thanks: 355 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.

Quoting 
Talk the talk and walk the walk.

I wish you luck in your journey.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to rhuz for this post:


futures io Trading Community Trading Reviews and Vendors > Whats the best training program to learn futures trading?


Last Updated on February 15, 2015


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing

NEW BlackBird Features + FOREX Support w/Jeremy Tang @ SharkIndicators

Elite only
 

Our 12-year anniversary w/ $$,$$$ prizes (check soon)

June
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts