Hi, I am new to the Trading business. I have had an interest in it for a long time now and I am finally teaching myself to trade. My first interest is in trading Futures Options and I would like to hear from others and learn from others. I recently bought the book "The Profit Matrix" by Frank W. Richards which gives the basics of the Futures market and explains how Options reduce risks and I am interested in paper trading. First I need 20 year charts. Any advice on where I can get them without breaking the bank? Any information offered would be greatly appreciated. I am here to learn.
Hello: Use the search function at the top of the home page to find subjects of interest. Read my "New Traders Thread" (look under "journals"). Do not buy weekend training courses. It is probably wise to have a skeptical attitude about everything you read and hear, especially performance claims. Check out vendors carefully. Ask a lot of questions. Take your time. Good luck. Steve46
If you are new to the game I strongly suggest that you avoid options on futures. I was a market maker for 17 years at the PCX and a member of the PCX for 20 years. I have known many capable and tallented traders, and not one of them has ever felt comfortable in their ability to accurately price options on futures. The pricing models on equity and index options are even suspect on longer term options, but on futures options there can be real problems and complexity due to backwardizations etc. My best advise is to learn to trade equity and index options first and then when you are capable of understanding the risks inherent in that game, then, and only then consider options on futures. If you are interested in finding excellent and for real option workshops, then contact me privately and I'll be happy to share what I know. Best wishes, Keith
Long time ago i wanted to start my career as a trader. In my country there are two institutes that i know that teach trading: MTI Market Traders Institute. and Pristine. I really like Forex Trading, so i am thinking of starting my education with MTI. Is there anybody that can give some information about them? Are they good?, Can i trust my forex trading education to them? Thanks.
there is a thread on moneytec about MTI. Their live trading room, it turns out, is hypothetical- they don't trade their own money on it. I trialed (that was over a year ago)them for a day only, thought they would be good for beginners. The Australian branch phoned me up and we got on pretty well. The guy suggested I look at buying an area (the world is divided into different areas where MTI want to expand) and start a franchise with material supplied by MTI. So their emphasis is on TRAINING as a business: is that good? Maybe, but the people I now want to talk to give priority to trading. Their training is not overpriced and on balance they are probably one of the better forex trainers for the price. But it is a longer road to profitabilty than their (or any training firms) marketing might indicate.
Get "Lost" is more like it. I had to learn thru losing my Azz.. No ONE helped ME! But learn I DID!!! now it's YOUR turn! :-/
I wouldn't call it a game. Calling it a game sounds like a bit too much fun. Games are something people pay for... It's really a business and it's pretty serious. "Youâre worth as much as youâve got, and you get as much as youâre worth." (Cervantes, Don Quixote de La Mancha)