Learning strategies to futures trade for beginners

N

Noelo

Good day companions

I would like your kind support to know if you can recommend some Future Trade Strategies Courses or Reading, to start learning ASAP

At this moment after 12 years working I have noticed that I am in a vicious cycle with not ending, always depending on my employer and seeing how the time pass getting older every day, with the fear of losing my job and with not possibility to raise my family in a good environment, that is why I would like to have a change in my life

Right now due to my demanding job, I have no time to enroll in long courses, most of the time I am looking something online. I understand that if you want something good you should pay, but at this moment I do not have too much money so I would like to start with something cheap, I am fast at learning new and complex things

I have understood that Stock Markets is not easy, but I believe that I have faced very stressful and difficult situations in my life, so I would be OK

Also, I was reading about which exchange give more dividends and I understood that Futures Market give good earning and without having too much money. My goal is to implement a strategy that gives me at least 3000USD monthly basis to cover my basics needs and quit my job once for good

Finally, according to my understanding, I would like to focus my efforts and specialize in FUTURES TRADES but DAY TRADING to control my earnings every day, I do not mind if this takes me 01 whole year but at the end I know that I spent my time in something that worth it, later I would like to invest in more medium or long term

Sorry about the extended message

I hope that someone can advise me to start ASAP
 
First, I advise you NOT to quit your job right away, because the income from your job is a sure thing and the income from trading is probable, especially for new comer with a family to support, and instead to keep your job and swing trade for extra income or at minimum transit to trading slowly. Furthermore, the future market is open 24 hours day Sunday to Friday, so you still can learn to trade while holding a full time job.

In addition, before quitting your job, make sure that you have enough funds to support your family for at least six months (a year is preferred) and that you have back up plan if things did not go as you planned.

I am telling this so you will not be part of the day trading statistics!

Now, you said you want an easy strategy to make money day trading the futures, then go type Trend Trading in your preferred browser and read about it until you cannot read anymore. And while you are at it, there is a thing called the Carry Trade make sure you cover that too!

Good luck.
 
Last edited:
I suggest this http://www.jigsawtrading.com/learn-to-trade/free-order-flow-analysis-lessons/
It is free.

Learning how to read the order flow is not easy and it will require a lot of screen time. I am not suggesting you purchase anything but it is a good place to start. You are about to start on a very long journey.

Personally I would avoid paying for "education". You are far better off understanding the basics and developing your own trading style. What might work for one guy may not work for you.
 
Noelo said:
Good day companions

I would like your kind support to know if you can recommend some Future Trade Strategies Courses or Reading, to start learning ASAP

At this moment after 12 years working I have noticed that I am in a vicious cycle with not ending, always depending on my employer and seeing how the time pass getting older every day, with the fear of losing my job and with not possibility to raise my family in a good environment, that is why I would like to have a change in my life

Right now due to my demanding job, I have no time to enroll in long courses, most of the time I am looking something online. I understand that if you want something good you should pay, but at this moment I do not have too much money so I would like to start with something cheap, I am fast at learning new and complex things

I have understood that Stock Markets is not easy, but I believe that I have faced very stressful and difficult situations in my life, so I would be OK

Also, I was reading about which exchange give more dividends and I understood that Futures Market give good earning and without having too much money. My goal is to implement a strategy that gives me at least 3000USD monthly basis to cover my basics needs and quit my job once for good

Finally, according to my understanding, I would like to focus my efforts and specialize in FUTURES TRADES but DAY TRADING to control my earnings every day, I do not mind if this takes me 01 whole year but at the end I know that I spent my time in something that worth it, later I would like to invest in more medium or long term

Sorry about the extended message

I hope that someone can advise me to start ASAP
More...
Jack D. Schwager- Schwager on Futures Technical Analysis 1996 John Wiley & Sons
 
Stocktracker said:
...Furthermore, the future market is open 24 hours day Sunday to Friday...
More...

Technically, the above is not correct. Dunno' how it is in "Stock trading", but do not spread incorrect information around about futures. You could lead people into trouble that way.

Thanks, Stocktrader!
 
Noelo said:
Good day companions

I would like your kind support to know if you can recommend some Future Trade Strategies Courses or Reading, to start learning ASAP

At this moment after 12 years working I have noticed that I am in a vicious cycle with not ending, always depending on my employer and seeing how the time pass getting older every day, with the fear of losing my job and with not possibility to raise my family in a good environment, that is why I would like to have a change in my life

Right now due to my demanding job, I have no time to enroll in long courses, most of the time I am looking something online. I understand that if you want something good you should pay, but at this moment I do not have too much money so I would like to start with something cheap, I am fast at learning new and complex things

I have understood that Stock Markets is not easy, but I believe that I have faced very stressful and difficult situations in my life, so I would be OK

Also, I was reading about which exchange give more dividends and I understood that Futures Market give good earning and without having too much money. My goal is to implement a strategy that gives me at least 3000USD monthly basis to cover my basics needs and quit my job once for good

Finally, according to my understanding, I would like to focus my efforts and specialize in FUTURES TRADES but DAY TRADING to control my earnings every day, I do not mind if this takes me 01 whole year but at the end I know that I spent my time in something that worth it, later I would like to invest in more medium or long term

Sorry about the extended message

I hope that someone can advise me to start ASAP
More...

I dislike being the bearer of bad news, but based on what you've written, you have a ton of unrealistic expectations on the probabilities of succeeding in trading for a living.

According to stats, 80+% of would be traders wind up losing money and never become profitable. Of the remaining ~20%, at least half of those are just trading break even and treading water with minimal profits, if any. You have less than 10% of retail traders who do it well enough to earn a nice living from it. That means you have a 90+% risk of failure.

Your current job may not be ideal, but remember if not in sales, you are GUARANTEED to get a paycheck every two weeks like clockwork. Imagine if you worked your tail off, only to wind up losing money for the week or month- meaning you earned far less than a person in a minimum wage job, or any paying job for that matter. That's a trader's life.

There is no junior varsity or amateur leagues in trading- you immediately have to compete with the top players and computer algorithms. These folks are out to win at your expense. The market chews up and spits out the best and brightest of people as it's not about ambition, intelligence, or drive, but the ability to develop counter intuitive knowledge that is opposite everything we've been taught to expect in life.

You will find there is no course that will lead you to the promised land of consistent profits. Ultimately, you will have to work out your own solution. Courses ironically will give you false confidence that you are now better equipped than you really are.

Now add the fact that you have the burden of family and not much money, that only adds heaps of more pressure on your back.

Expecting to master trading in a year is akin to thinking you can compete with the top players in pro sports and get a lucrative contract in the same amount of time starting from scratch.

At a minimum, you should paper trade on a sim account to show you have the ability to make a living from active trading for at least 6 months - a year before taking any career switch action.
 
You must log in or register to reply here.
Back
Top