I want to learn to trade futures!!

[mogul]

Quote from RedDuke:

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

That is excellent advise. I would advise the OP to print it out and tape it up next to your monitor. Then get to it.

 

[Stealth Trader]

Quote from mike281:

Thanks for your support!! I guess I am nieve to believe that there are people out there who have done well for themselves and want to help a new guy get started in a profession that they have excelled in for themselves.......

The forum is called "hook up" - so that's what I was attempting to use it for. Sorry to upset you so much!?!

In a sense, what you are wanting is akin to asking Eric Clapton to teach you to play guitar well enough to be able to acquire his same level of fame and fortune. You either have what it takes mentally and psychologically to put the screen time in to learn and find your own way, or you don’t. No one is going to be able to do that for you. If you are the type that requires hand-holding or spoon feeding, trading successfully is probably not in your future.

For the record, ET is not a pool of professional traders as you implied, as you can probably count on both hands the members who are actually profitable year in and year out with a finger or two left over. Case in point, there was a thread recently asking what the perceived ‘BS’ factor was on ET, and overwhelmingly the majority agreed is was north of 97%. What’s worse is that those agreeing with that number saw no harm in deceptive behavior of pretending to be something they are not, and actually promoted it. It’s sad that this is what the world has come to.

Moral of story, be very careful where you cast your line.

Good luck,

st

 

[RhinoGG]

Quote from snowhite:

My time is worth too much to train a newbie like yourself.

I don't recall anyone asking you. From this point on, if we want your opinion, I'll give it to you.

 

[Cocaine]

Cause you are too busy sucking off the 7 dwarfs?

Quote from snowhite:

My time is worth too much to train a newbie like yourself.

 

[Mercor]

I will mentor you.

I can guarantee that you will make $50,000 in your first year.

My fee is $100,000...and yes, I do have openings.

 

[TraderZones]

Quote from Steve Tvardek:

TZ, you couldn't be more wrong. But if the OP is lazy, then yes I'd agree with you to stay away.

Steve, you couldn't be more confused.

Show me why anything I said is incorrect. Don't just disagree.

Show me Jack or Spyder's audited. longterm track record. The only time he did, Jack got his head handed to him.

 

[TraderZones]

Quote from Stealth Trader:

In a sense, what you are wanting is akin to asking Eric Clapton to teach you to play guitar well enough to be able to acquire his same level of fame and fortune.

You left out "and expecting it for free" because somehow, we should expect that from those who made it?

That is the naive part.

 

[oraclewizard77]

Do not listen to those that tell you not to trade forex.

Just because they are too lazy to come up with a working strategy does not mean that its impossible.

Personally I think trading forex is alot easier than trading es.

Of course, you need to understand, that only 10% of the people who trade anything will succeed.

 

[Gyrene Dertra]

Quote from Dobbes:

I'm in a similar position to the OP (though I'm pretty sure I got turned down for employment at the firm he works for). What people are telling you is the best advice you will get. I'd love to have a seasoned mentor too, but I don't see it happening any time soon.

Are you in the 'burgh too? Who is it that he works for and you applied to?

 

[bigarrow]

Quote from TraderZones:



Imagine trying to become a brain surgeon after 3 days of classes?

Bad analogy, trading and being a brain surgeon don't have anything in common.