I want to learn to trade futures!!
- Thread starter mike281
- Start date
sent you a PM.
Hi mike281,
There are most definitely folks who are willing and able to do this... I suggest the following link:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=83604
If you see value in studying these methods and have questions, the current thread can be found here:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=113310
Best wishes in your journey!
With quotes like the one above you will find your statement a little out of place. There can be and are some very insightfull and helpfull people here, but the likes of the above ALMOST make it not worth the time here.
If you wish to learn keep looking for that mentor and be prepared to pay for his time.
Make em' pretty, Chris
Mike
If nothing else, STAY AWAY FROM THESE LINKS. SpyderTrader is just the disciple of JACK HERSHEY - a clueless trader who invented a Rube Goldberg machine of horrendous complexity that takes many months to learn, will assist you in losing your money, and then take many months to unlearn.
Do some serious searching on what many people here say against Jack Hershey. He is the Pied Piper leading newbie traders astray!!!!!
Good lord, save yourself from the months to years of grief
TZ
That is what I was trying to tell you above.
If you are going to succeed in a field with a 95% failure rate, there really is no short cut. What the 2 people said about putting in screen time is the closest thing you will get to the truth.
The only thing you are likely to get from your request for a mentor, is discovering what most of us did - 99% of the people offering services, advisories, methods, tradestation plugins, ebay offerings, spam emails, "mentoring" etc. offer you a useless service.
Bettertrades, Teach Me to Trade, Investools, and others cross the country, luring in tends of thousands to their seminars who pay $6000 to $25,000 in "tuition" trying to learn.
Imagine trying to become a brain surgeon after 3 days of classes?
One way to start, is with the attitude that this will take a while to learn, that you are quite likely to never make any money, that you will invest thousands of hours and lose many thousands of dollars, that you will have many early hopes of success dashed, and many other things. And maybe after years of dedicated hard work, you might just find success. But I would say perhaps 1% of people do. And it most likely won't be at the hand of a "nice guy who wants to mentor you" but by YOUR efforts after a huge amount of time learning how price action works, from a lot of screen time.
You've just discouraged most of the people here who trying to learn how to trade. Intuition is something born with, not something can be learned. That's why the low success rate of your teaching proved that trading CANNOT ALWAYS be taught. It requires both nature and nurture work together to shape trading ability.
The question is how can you spot this person can be or cannot be a good trader if he receive a good mentorship? This is a good entry point to avoid wasting time with somebody that can never be taught. What kind of traits (come at born) that should be looking for.
The question is how can you spot this person can be or cannot be a good trader if he receive a good mentorship? This is a good entry point to avoid wasting time with somebody that can never be taught. What kind of traits (come at born) that should be looking for.
TZ, you couldn't be more wrong. But if the OP is lazy, then yes I'd agree with you to stay away.
Here is few advices (for intra day trading only):
1) Pick only one market and study it inside out. If you live in US and can not trade during regular hours. You have Hong Kong HSI futures, Nikkey 225 on SGX, European Eurex futures like DAX and Euro Stoxx and few others.
2) Stay away from spot forex, it is not a real market but a virtual trading world within each broker. If you settle on currencies CME futures on 6 majors are your best bet.
3) Pick a chart that is not fixed time fractal: tick, volume or range. The reason is that these charts only move when something is happening, where fixed time charts move regardless. This will make price action much clearer.
4) Spend a lot of screen time to learn price action from above mentioned chart. You can read Wycoff day trading bible to get better understanding of price action. It can be downloaded for free from many websites,
5) Settle on 1 or maximum 2 indicators. Price action is enough to place trades, but indicators will help you to interpret it better and faster.
6) Learn to interpret Market Depth, this will save you from entering against immediate supports or resistances and being shaken out of position too quickly.
Do not try to study all of this at once. Add one item at a time. If you need some additional clarifications and materials let me know. Good luck and enjoy.
Regards,
redduke
1) Pick only one market and study it inside out. If you live in US and can not trade during regular hours. You have Hong Kong HSI futures, Nikkey 225 on SGX, European Eurex futures like DAX and Euro Stoxx and few others.
2) Stay away from spot forex, it is not a real market but a virtual trading world within each broker. If you settle on currencies CME futures on 6 majors are your best bet.
3) Pick a chart that is not fixed time fractal: tick, volume or range. The reason is that these charts only move when something is happening, where fixed time charts move regardless. This will make price action much clearer.
4) Spend a lot of screen time to learn price action from above mentioned chart. You can read Wycoff day trading bible to get better understanding of price action. It can be downloaded for free from many websites,
5) Settle on 1 or maximum 2 indicators. Price action is enough to place trades, but indicators will help you to interpret it better and faster.
6) Learn to interpret Market Depth, this will save you from entering against immediate supports or resistances and being shaken out of position too quickly.
Do not try to study all of this at once. Add one item at a time. If you need some additional clarifications and materials let me know. Good luck and enjoy.
Regards,
redduke