Learn to be a spreader. Start with grains, progress to rates then cross rates then...who knows where.
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Are Agriculture Futures a good idea for a beginner?
- Thread starter Lethn
- Start date
Quote from TraderZones:
Disagree about Bone - he charges $6,500 or so, has an abusive attitude (has threatened to sue several people here who had the nerve to disagree with his statements), and is very recent.
Don't subscribe to ANYTHING that does not have serious independent auditing of their track record, and /or VERIFIABLE broker statements.
frankly, the amount you are starting with, £500, is way too little. You need to sim/paper trade for awhile and figure out 1+ serious outpeformance edges and excellent money management.
I do understand TraderZones point because there are a ton of hucksters, but I have talked with people that have went to Bone and they all said he was kosher. I have talked to him even before he put out the website and he knows what he is talking about. TraderZones is also right about the low capital, but like I said look into spread trading.
TZs comments on Bone should only reflect on TZ himself, as it's pretty obvious to any successful trader with a few years under his belt that Bone's the real deal.
However, he's not right for the original poster starting out with 500 GBP of course. I think actually ag spreads could be something to check out, but you would need at least a few thousand dollars to get an account with someone like IB so you could trade calendars etc. I'm not sure if UK spread betters let you trade calendars? Maybe they do...
However, he's not right for the original poster starting out with 500 GBP of course. I think actually ag spreads could be something to check out, but you would need at least a few thousand dollars to get an account with someone like IB so you could trade calendars etc. I'm not sure if UK spread betters let you trade calendars? Maybe they do...
Quote from themainevent:
An unequivocal NO. Agriculture futures are a horrible place for new traders to start. I know from experience. I recommend trading something far less volatile until you become consistent and then expand to other products.
I agree on this statement. Ags are quite though for a beginner to trade with their complicated fundamental background like weather, supply/demand, harvest forecasts etc.... Try YM or NQ, avoid the data releases (study the economic calendar on bloomberg.com) and there you go.
the Market is NEVER a good place for a beginner... at least on the global battlefield...
Quote from 4XQs:
it's pretty obvious to any successful trader with a few years under his belt that Bone's the real deal.
there is nothing obvious about any vendor/writer/advisor.. 99% of them are hucksters. If bone wants to be the real deal, there are multiple sites that allow someone to have their track record/trades audited, even a few contests like Robbins and CNBC (FWIW). Otherwise, he remains unaudited and unproven. And there is even less "real deal" when someone needs to chase after subscriber dollars.
Quote from TraderZones:
there is nothing obvious about any vendor/writer/advisor.. 99% of them are hucksters. If bone wants to be the real deal, there are multiple sites that allow someone to have their track record/trades audited, even a few contests like Robbins and CNBC (FWIW). Otherwise, he remains unaudited and unproven. And there is even less "real deal" when someone needs to chase after subscriber dollars.
What's obvious is that he knows what he talks about. And if that's not obvious to you, then you haven't worked seriously with spreads and other combos in interest rates and the energy complex. He's selling a highpriced service which I haven't seen offered anywhere else - how to create and balance spreads/combos in correlated markets. What would be good prices to buy or sell BOBL vs 5Y? Such information is pretty valuable, and he's mentoring how to calculate it as well as providing the actual calculations for (I believe) hundreds of combos such as the one I mentioned.
I highly suspect you don't quite understand what he's really offering - it's something completely different from a signal service/chat room or a system vendor, author or host of an expensive workshop.
Just reading a few of his posts and then comparing it to the morons like Michael Covel (Trendfollower?) or that guy Alex/Puretick who's no longer a sponsor - anyone with some experience can easily tell who's got the goods.
I'm not trying to troll, but asking Bone to do a Robbins competition is ridiculous. The statements are made available for due diligence before you fork over your cash for his services!
Quote from 4XQs:
What's obvious is that he knows what he talks about.
You leave out everything except "proven." Makes statements available for review? Due diligence? Marvelous - then publish his statements here.
He has a very short track record and has only provided words. As well as a very short fuse.
And it is not difficult to perform what he does through an audit service. You are being amazingly swift to embrace someone you have likely either never met or performed due diligence personally.
And from what he has said, you seem to impress rather easily. There has been a 1-post person attesting to him, and a few others who have no clue of what he really does, but also attest to him.
We have had many wander through ET and talk a good talk, dazzling many desperate newbies and even longterm ET posters. The proof is in the independently verifiable audit, not "talk to a few past customers"
Well-funded concerns who consider funding someone are not just looking for testimonials from those they never met. They want a LONGTERM proven track record with good DD and other metrics.