Newbie Futures Help

Kastro_316

Kastro_316

Hey guys.

I want to start to learn Futures now, and was wondering if anyone could help me out with some websites that would teach the basics of futures. I know alot about Stocks, and also just learning about forex right now, but i just would also like to learn about futures as well...Lots of people i talk to advise me to trade futures, so here i am :)

Thanx guys
Adam
 
Quote from Kastro_316:

Hey guys.

I want to start to learn Futures now, and was wondering if anyone could help me out with some websites that would teach the basics of futures. I know alot about Stocks, and also just learning about forex right now, but i just would also like to learn about futures as well...Lots of people i talk to advise me to trade futures, so here i am :)

Thanx guys
Adam
More...

I believe that the CME has info about trading futures on there website @ www.cme.com
 
This is a good site to learn. The slant here is for electronic financial futures trading and vendors specializing in that.

Each futures market and exchange has its own characteristics. Some start out trading only long options as they learn about futures, progress to a paper trading account and then to futures trading.

With so many brokers, vendors, markets, strategies and opinions out there on teh best way to trade futures, it can be overwhelming to the new trader.

You may want to start with a single market, one that is liquid enough and does not require a large margin. A candidate might be corn. I know, that is not as exciting as, say, the e-mini or the yen or the Dax, but it has all the characteristcs of any liquid futures market.

for a start on information, you might want to visit www.futuresmagaine.com

good luck.
 
Thanx everyone..Sounds like everyone here knows what there talking about :)

Is there any demo accounts i can play around with? Where can i find the symbols for like Corn, E-mini and Dax?

Thanx again guys!
 
Kastro, go the the exchange web sitees for the best information. In fact, the CBOT, where ag. and financial products are traded, has excellent educational information -- much of it for free.

www.cbot.com
www.cme.com


There are also links to brokers. The exchanges have some of the best information out there and, in my mind, is the best place to start for the facts on trading (I don't work for an exchange.)

I think most brokers will allow you to open a demo account. Anyone clearing through Refco, such as OTS, certaintly will. Lind-Waldock, the retail division of Refco might also.

Oh, right now, grain contracts have a lot of volatility. So they might be too HOT HOT HOT for a new trader. (Just my opinionated opinion. :)
 
Thanx alot for the info guys! This is awesome...Iv gone to everyone of those sites, and im going to read them all over tonight when im done work :( lol

You can trade Futures at Interactivebrokers right?

Do you trade them the same way? Or for each one like corn or wheat is there a specific time when you can trade?

Thanx guys
Adam
 
Hi Adam,

Interactive Brokers is great for stock trading. For futures, you are limited to trade only the eletronic exchanges.

For example, you cannot trade the agriculture markets such as the grains or livestock, and the soft commodites such as sugar or cocoa.

For a new futures trader, IB might be a challenge -- execution is easy and simple, but the experience with these markes is really a must. When you have questions or trouble in the futures markets, you are really on your own to work it out, and that can get quite expensive.

Sort of like driving a really supped up car over a tough terrain with little driving experience.

And trading is tough enough.
 
ET members can get a month of simulated trading on TT's X-Trader (the premier futures trading platform) for free. You will be able to try any of the electronically traded futures. The only problem is that I don't remember the specifics of how to sign up...hopefully someone else will remember and post it.
 
You might try a platform from a futures firm, I've found them to be very good but I have only tried a few.
 
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