Traders Laboratory - View Single Post - Looking To Begin Trading Futures: $$ Losses
View Single Post
  #9 (permalink)  
Old 02-14-2007, 08:18 AM
Bfbusa's Avatar
Bfbusa Bfbusa is offline
Bfbusa has no status.

Trader Specs
 
Join Date: Sep 2006
Location: New York
Posts: 58
Thanks: 1
Thanked 3 Times in 2 Posts
Send a message via Yahoo to Bfbusa
Re: Looking To Begin Trading Futures: $$ Losses

Hello Andrew28,

Along with the other posts I also suggest this.

Review ALL the videos in the video section. Pay particular attention to Tape reading, pivot points and Value area high and lows. SoulTrader does a fine job in getting the idea of the methodology and tools needed to trade the futures successfully. Also look in the chart section.
Then pick a futures contract that best suites your personality. For me it's the YM's. Others are the NQ's, ES or the ER2. But I would recommend the YM's. The Dow mini. Each contract is only $5 per tic. So you won't lose as much during your learning curve. Just start with one or two contracts.

Keep to your stops and as soon as you partially exit ( if doing 2 or more lots) a trade at your first target always bring your remaining contract to break even. You just guaranteed yourself a profit w/o the emotional baggage.

After you have viewed the videos here got to TradeTheMarkets.com and sign up for their free e-mail videos.

Hope this helps.

Reply With Quote