Beginner Futures Trader (HELP)

Discussion in 'Index Futures' started by fundmanager00, Jun 4, 2004.

  1. Hello everyone, I am new to the board. Please forgive me if some of these questions sound basic.

    I am just wondering about different ways to trade the ES (S&P E-MINI)

    If I were to day trade the ES what kind of indicators should I use?

    If I want to swing trade the bigger trend of the ES what Indicators should I use?

    What are some tips that you have for people that are starting out trading the ES?

    I am trying to build a system for either day or swing trading and would like some suggestiosn to get started.

    I understand that it is important to use tight stops while daytrading but how do you decide on your stop loss. Some say that you should pick an amount that you feel comfortable losing on each trading and set your stop loss to that amount. Any suggestions?

    I am just getting started and would love to have as much help as I can get.

    Thanks again

    Also, if you can share some stories about how you got started in futures trading that would be wonderful
  2. made a killing the first few weeks then got massacred and lost the killing and some in two days. :p
  3. Thanks for your reply,
    In regard to your post, I heard that could happen when you start trading the futures market. You win and then you lose more.

    Just a quick question: Did you use stop loss orders? Are you a swing trader or day trader?

    What type of markets do you trade in?

    thanks again for your reply
  4. dbphoenix


    Forget about indicators and learn how to interpret price and volume. Anything that's calculated takes your eye off the ball.
  5. TigerO



    Learn to read charts and price and what solid money management is all about, be disciplined, stick to what works per se _and_ for your personality, don't jump all over the place after every losing trade looking for the next holy grail that doesn't exist anyway, that is all you will ever need to make it. Get the basics for free from the web, and then just practice, practice, practice until you turn the corner.

    Good luck
  6. POINT


  7. look at futures trading this way. because this is a zero sum game, consider that you are at a big poker table and your a beginner and you are playing poker with the best poker players in the world. do you think you would have a chance. NO. so do everything you can to learn chart reading and try to look for patterns that repeat themself. try to get as much emini data as you can and study 4 to 5 years back. then with that you can develop a system. always ask yourself "what is true" about the market and how does it repeat itself. and then after you got what you think is something that works, then you have your psychology to work on and thats ABSOLUTELY the hardest part of trading. please always remember you are playing against the best futures traders in the world so don't get upset because you lose because you will lose at first so make sure the money you are using is not important.
  8. The best way to learn futures trading is to pay TraderBrad $20,000 for a week at his training institute! LOL :p

    Seriously, the information posted here so far has been good direction. There is a ton of information here on ET if you take the time to do searches and wade thru the muck. Beware of anyone who offers to teach you their method (usually for a fee), there is no free ride. Take advisory services with a grain of salt, as they are usually run by those who can't or don't trade.

    My trading in the futures markets "turned the corner" when I stopped relying on other people to feed me their methods and ideas, and developed my own strategy. A good analogy is owning a home versus renting a hotel room. You value things more when they are yours, and you've worked hard to get them.
  9. open up an account with a broker like IB

    that lets you trade ETF's that mimic the index futures

    for $1 per 100 shares

    trade very small .... gain confidence in your methods

    do not blow up ( i.e. trade bigger ) until you are consistantly

    profitable real time trading small size ( i.e. 100 shares )

    oh ... and do not think because you trade small you can let a trade go X number of points against you because of your small size ... yes this will not hurt your account too much if it is small size , but you will not gain anything from doing this

    rather try to place stops to limit losses even though you are trading small size ... and let your profits run

  10. 40Deuce


    agree w/ db . . . learn price, (real) liquidity, and the players at the table
    #10     Jun 4, 2004