Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Andrew28

Looking To Begin Trading Futures: $$ Losses

Recommended Posts

Hi folks. This is my first post in this forum. I am new to the futures market but not quite new to trading. I started messing with the stock market back in the late 90's when anyone could of made money buying blindly. I am now retired and would like to consider trading actively full-time. I started reading several books on technical analysis, commodities, and futures as I would like to learn to trade properly.

 

I have about $20,000 of risk money that I consider as tuition as I understand this can be quite a difficult profession. My main goal is to be able to make a living trading. I am here to seek a little advice on my current road block I am encountering. This is my third month trading the futures market and I have lost roughly 40% of my initial stake. I practice strict money management and place approximately 3 trades a day. I am still at a point where I have not yet settled down on one method; still testing out various techniques.

 

Any advice to get me going in the right direction would be appreciated. Thank you.

Share this post


Link to post
Share on other sites

I think you are on the right track towards learning this game. If you are willing to put up $20,000 as tuition money you will have plenty of room to learn. Just make sure you trade small until you are able to establish consistency.

 

To comment on trading methodologies, you are at a phase of experimenting with various methods. I suggest you continue to do so but eventually start developing your own. Your methodology should be branded by you. This allows you to have your own trading style.

 

Learn the pyschological side of trading. Losing 40% of your stake is painful... but make sure to keep a trading journal and learn from all the mistakes you have made and will continue to make.

Share this post


Link to post
Share on other sites

Andrew,

 

if I were you, I would only be trading one contract at a time. When you've been profitable for few months, move up to two etc. Paper trading is not the same. You need money on the line to experience your real emotions.

If I could start over, this is what I would have done.

 

I started with 2 contracts. After a few winning trades I jumped to 4 etc. Within weeks I was trading 20 contracts...big mistake. I lost so much money because I thought I knew what I was doing. Looking back, I would have been much better off if I stayed with one contract for a few months while learning this business. After all, it is a business.

Share this post


Link to post
Share on other sites

As much as you can learn from your own mistakes, you can also learn from another persons mistake. Budman has some really good advices for any novice trader.

 

I also recommend starting off with 1 or 2 contrracts. Trading is a business and a skill game. During the bubble, no skill was necessary to make money. But with current market conditions, this is the true trading arena. Master the skill or you will lose.

 

Good luck on your journey Andrew. Most traders have been where you are. Those who climb out of it are the traders that will make it in this business.

Share this post


Link to post
Share on other sites

So basically I should start small and work my way up. I would like to know some strategies that work in the futures market. Can a trader apply the same strategies in trading stocks or forex to the futures market?

Share this post


Link to post
Share on other sites
Guest FLX

You need to list your mistake each time you trade to confirm cont. pattern that is developing. Like your writing Trading bible for yourself. Your will find your self doing the same mistake over and over. This is the only way your can start to trade properly.

My major mistake is not draw trend line and s/r line on all my charts. That is the biggest one right there!

A trade just broke through the S/R line right now im in the ER trade right now with a tight stop! Got to go it running hard!

Share this post


Link to post
Share on other sites

1. Stop trading with money NOW

2. Paper trade until you find a method you are winning consistently with.

 

Although we all did it, its stupid to waste your capital while you are searching for a method still. STUPID

 

Learn patience. One element is being patient enough to trade on paper until you have no less than three winning weeks (really winning not just scraping in with a bit of luck). Another element is being patient enough not to use money until you find a method that works with you. Another element is being patient while waiting for a trade.

 

STOP now. Be patient. Find a method. Paper Trade until its second nature. Then work thru any psychological issues after you move to cash.

 

Your stake is way too small to waste it until you have a consistent method and a solid trading plan. Money management just creates a slow drip of blood as you cut yourself with a small knife.

Share this post


Link to post
Share on other sites
Guest FLX

The last few posts is the best information we could give at this time, kiwi approach is very similar to my own. It might take you two year but look what you can lose in that period of time. What is your hurry enjoy your retirement, and the trading will soon follow. You need to practice before you can walk out on that stage. Flx I made 500 per contract, in the ER2 today but it took me 2 1/4 years to get where im at today.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

Hi,

I am new just like Andrew28.

I also have $20,000 to start to learn and hopefully master it to a point that i can walk by myself.

Any direction is appreciated.

Since i work during the day and only available to trade few hours at night and Saturday.

I am living in NorthEast US.

Thanks,

Share this post


Link to post
Share on other sites

Hello Werdgr,

 

Hmm....thats a tough one. I don't recommend trading futures or stocks in the after hours. Extremely risky. The best advice I can offer is what I would do if I were in your shoes.

 

First. Learn to swing trade stocks. Thats taking a position for a few days to a week or two. or FOREX. The Foreign exchange.

 

If you get a day off from work, then you could e-mini futures or stocks.

 

One more thing. You say $20,000? OK, take just half of that and put in a brokerage account. Keep the rest in a safe place, money market etc.

This way it will force you to trade small at first until you discover your edge and learn proper risk management. Always remember, if you learn to control your loses, your profits will tend to them selves. Always use stops and stick to your trading plan.

 

Hope this helps, good luck.

Share this post


Link to post
Share on other sites

You could probably trade the new mini-nk in osaka in the after hours timeframe. Its small, liquid, honest, and has nice trends on (say) 5min bars. Also market profile etc apparently work well with the Nk. IB will let you trade it or the SGXNK but you need to check whether its open for USA nians yet.

Share this post


Link to post
Share on other sites

As I began reading the responses to poor Andrew's inquiry I was flabberghasted that no one was telling this well intentioned but severely misguided fellow to stop trading with real money until he found a method where he was routinely and consistently profitable! There is no acceptable reason to let someone go on like that without calling it to their attention as the first and most immediate order of business.

 

I take my hat off to Kiwi who was the first and only one to really tell it like it is and bring poor Andrew back to reality before he had to take a job at WalMart for a year or two just to replenish his initial trading capital.

 

Please, let your initial risk capital come in the form of your time, study and effort, not your hard earned money. Once you have found the method that works for you consistently, that is the time to start risking 1 or two contracts per trade (again just on high probability trades) until your confidence, success and working capital all grow to the degree that you feel comfortable moving up to greater size, which I suggest you do very slowly anyway.

 

It takes awhile, even at the smallest of size, to adjust to living with your trading emotions when you make the switch to trading real money. You will undoubtedly find that as you increase in size you may have to re-learn how to live with those emotions again and again until such time as you finally reach a size and/or risk level you do not feel comfortable going beyond.

 

Additionally, Kiwi mentioned patience as a key trait of a good trader. I am here to tell you that successful trading can often feel as boring as watching paint dry, so you better get comfortable with that. Otherwise you are likely to be jumping in willy nilly at the wrong times just to be actively trading and I can think of no more sure way to a rapid blow-out your account.

 

Andrew or any other inquisitive beginner should read Kiwi's advice over and over again until it sticks like glue and becomes your way to attack trading the markets.

 

Happy Trading To All ;)

Share this post


Link to post
Share on other sites

From my own personal experience I would recommend starting off with funds that are expendable. At least for me when the funds are less, I feel less pressure when positions are going against me and I am able to make more sound decisions.

Share this post


Link to post
Share on other sites

I think the mini nikkei is a great idea. I've played around with it before, and at 1/5 the size of the SGX contract, it's MUCH more manageable for beginners.

 

If you have over 25k in the account, then you can daytrade the DIA as a proxy for the YM.

 

It's an ETF and every 100 shares = $1 per dow point, so you can trade much smaller size than the dow minis, and still get the same market exposure

 

the problem is that you will violate pattern daytrader regs if you daytrade it with less than 25k

 

DIA also has inferior fills compared to YM (at least in my experience), so if you can make your strategy(s) work on DIA, you will be well equipped for YM.

Share this post


Link to post
Share on other sites
I think the mini nikkei is a great idea. I've played around with it before, and at 1/5 the size of the SGX contract, it's MUCH more manageable for beginners.

 

If you have over 25k in the account, then you can daytrade the DIA as a proxy for the YM.

 

It's an ETF and every 100 shares = $1 per dow point, so you can trade much smaller size than the dow minis, and still get the same market exposure

 

the problem is that you will violate pattern daytrader regs if you daytrade it with less than 25k

 

DIA also has inferior fills compared to YM (at least in my experience), so if you can make your strategy(s) work on DIA, you will be well equipped for YM.

 

 

Would you happen to know any brokers besides IB that provides mini Nikkei? Thanks

Share this post


Link to post
Share on other sites

I would not even think about trading for real, if I could not consistently grow a paper trading account. It's hard enough dealing with the psychological pressures of live trading, but to do so when you don't even have a functional system as well? That's nuts.

 

Most trading software has a simulator that is virtually the same as real trading. Master that first. THEN use real money. The psychological crap is so much easier to deal with if you have a proven system to begin with.

Share this post


Link to post
Share on other sites

If I may suggest something here that would be this. DON'T DO any live trading before you can profit on demo. Consider live trading only if you are profitable for a few month.

When you move to live and gain only loses, see what was that? There could be psycho involved.

Believe me, you will have plenty of opportunities to drain your account. Dont you it while you are learning.

That is the first step. When you get over this stage then you might move to step 2.

This might take you a while ( few month or few years)

But hey, demo is cheaper ;)

Share this post


Link to post
Share on other sites
I would not even think about trading for real, if I could not consistently grow a paper trading account. It's hard enough dealing with the psychological pressures of live trading, but to do so when you don't even have a functional system as well? That's nuts.

 

Most trading software has a simulator that is virtually the same as real trading. Master that first. THEN use real money. The psychological crap is so much easier to deal with if you have a proven system to begin with.

 

I wouldnt say the "psycho crap"-. that crap can turn a profitable demo-trader to a consecutive-loser one. happened to me.

Share this post


Link to post
Share on other sites

I noticed people in here naming trading platforms for Futures like IB and more. As a beginner I have looked around at Think or Swim, IB and came across Kingsview. Anyone have any ideas on which platform is best for the beginner with around $10 to start on? You all seem to be much more knowledgeable than myself. Hoping to catch up....

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • Date: 11th July 2025.   Demand For Gold Rises As Trump Announces Tariffs!   Gold prices rose significantly throughout the week as investors took advantage of the 2.50% lower entry level. Investors also return to the safe-haven asset as the US trade policy continues to escalate. As a result, investors are taking a more dovish tone. The ‘risk-off’ appetite is also something which can be seen within the stock market. The NASDAQ on Thursday took a 0.90% dive within only 30 minutes.   Trade Tensions Escalate President Trump has been teasing with new tariffs throughout the week. However, the tariffs were confirmed on Thursday. A 35% tariff on Canadian imports starting August 1st, along with 50% tariffs on copper and goods from Brazil. Some experts are advising that Brazil has been specifically targeted due to its association with the BRICS.   However, the President has not directly associated the tariffs with BRICS yet. According to President Trump, Brazil is targeting US technology companies and carrying out a ‘witch hunt’against former Brazilian President Jair Bolsonaro, a close ally who is currently facing prosecution for allegedly attempting to overturn the 2022 Brazilian election.   Although Brazil is one of the largest and fastest-growing economies in the Americas, it is not the main concern for investors. Investors are more concerned about Tariffs on Canada. The White House said it will impose a 35% tariff on Canadian imports, effective August 1st, raised from the earlier 25% rate. This covers most goods, with exceptions under USMCA and exemptions for Canadian companies producing within the US.   It is also vital for investors to note that Canada is among the US;’s top 3 trading partners. The increase was justified by Trump citing issues like the trade deficit, Canada’s handling of fentanyl trafficking, and perceived unfair trade practices.   The President is also threatening new measures against the EU. These moves caused US and European stock futures to fall nearly 1%, while the Dollar rose and commodity prices saw small gains. However, the main benefactor was Silver and Gold, which are the two best-performing metals of the day.   How Will The Fed Impact Gold? The FOMC indicated that the number of members warming up to the idea of interest rate cuts is increasing. If the Fed takes a dovish tone, the price of Gold may further rise. In the meantime, the President pushing for a 3% rate cut sparked talk of a more dovish Fed nominee next year and raised worries about future inflation.   Meanwhile, jobless claims dropped for the fourth straight week, coming in better than expected and supporting the view that the labour market remains strong after last week’s solid payroll report. Markets still expect two rate cuts this year, but rate futures show most investors see no change at the next Fed meeting. Gold is expected to finish the week mostly flat.       Gold 15-Minute Chart     If the price of Gold increases above $3,337.50, buy signals are likely to materialise again. However, the price is currently retracing, meaning traders are likely to wait for regained momentum before entering further buy trades. According to HSBC, they expect an average price of $3,215 in 2025 (up from $3,015) and $3,125 in 2026, with projections showing a volatile range between $3,100 and $3,600   Key Takeaway Points: Gold Rises on Safe-Haven Demand. Gold gained as investors reacted to rising trade tensions and market volatility. Canada Tariffs Spark Concern. A 35% tariff on Canadian imports drew attention due to Canada’s key trade role. Fed Dovish Shift Supports Gold. Growing expectations of rate cuts and Trump’s push for a 3% cut boosted the gold outlook. Gold Eyes Breakout Above $3,337.5. Price is consolidating; a move above $3,337.50 could trigger new buy signals. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • DUMBSHELL:  re the automation of corruption ---  200,000 "Science Papers" in academic journal database PubMed may have been AI-generated with errors, hallucinations and false sourcing 
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.