What exactly is meant when people refer to a futures trading system. Companies or people that sell these systems like breakout futures or pcr trading signals? Is it software, or a TA manual, or what exactly does system mean in that context. Thanks-
OK - U Ben Yuk .......... ( sorry - I couldn't resist ) So Ya Wanna' Be A Pro Huh ? No Prob. Go Here......http://www.cisco-futures.com/ "THIS IS FUTURES ONLY" . READ EVERYTHING - That's right - "EVERYTHING". Every single scrap - and don't just read it - "KNOW IT" . Then,,,,,,, after you know it - after you read his book, Sign up for the 1 year program. Best Value in the Business. Chances are - you will never do it. WHY ? - Cause it's so damn much work. You will need the money, to have the time, to do the work. Good Luck to you.
My advice: put your money with a hedge fund and let them do their thing.. or seriously spend 6 months (8 hrs a day) of your life , watching, learning, reading, and asking questions before you trade. After that, spend the next 6 months trying to not lose all your money when you begin trading. Hopefully sometime in the first two years, you'll be able to formulate your own system from what you've learned and seen .. and then you'll understand why people aren't always so eager to help. No magical book, no magical teacher will give you your answer.. but it'll seem like you get a little piece here, a little piece there and when you figure it out... you can't pin point one thing that turned you around. It's the experience of everything you've seen and done that made you profitable. The markets are brutal, the committment has to be second to none. Otherwise you'll just lose all your money and quit.
abenyukh: A âfutures trading systemâ can mean different things to different people. It can be as opaque as a black box spitting out âbuyâ and âsellâ instructions to an entity as transparent and intimate as something that is the result of your collective experience and knowledge of yourself and the market. But the common denominator is that itâs a methodology for interacting with the market; and there are as many different trading systems as there are traders. Whether it involves software, TA or any other âtoolsâ, is really up to the individual. Kermit
Abenyukh, Kermit put it well. On systems, I would only add a response to what I hope was _not_ a motivation for your asking. Even though I am a systems-based trader, I would encourage you _not_ to buy a system which you then "trade on faith." Far better would be to continue what you're doing now--learning in order to get a better understanding of the markets--and then, once you've marched up the learning curve a few months or years, try tinkering with some systems design yourself. You'll learn loads about how the markets actually behave--both their predominant patterns and their departures from those patterns. At that point you'll be in a much better position to independently evaluate whether others' systems are robust and whether they match your temperament, should you wish to use them. Incidentally, you can find much more on systems design in several good books, which I may actually review for ET later. Also, you might explore the discussion threads at http://traderclub.com, which was launched by systems designer Chuck LeBeau some years back.