Would trading a trend following system on futures/commodities be more profitable than stocks or can I expect similar results? I am trying to determine whether I should learn to trade futures with a long-term trend following system. If futures are preferred, what is the best way to learn about them (e.g., a website, book, etc.). Thanks.
Also, I would appreciate it if someone can point me to where I can get futures quotes and a website where I can get End-of-Day data for Wealth-Lab. Thanks again.
i'll let more experienced traders elaborate on trend specificities, but in the end it just depends. you can lose or win as much as you want as often as you want in anything - stocks, futures, bonds, currencies, you name it. some traders specialize in a single future while other traders trade everything. you have to know yourself before you can trade anything. personally, i started trading stocks and was sure that was my game. sure i was stressed and i fretted over my trades, but that's all part of the game, right? well, with some introspection and some research i came across something that fits me like a glove (e-minis) and i now trade happily and without stress (usually ). honestly, now i see everything as it is - price and volume. supply and demand. i will always be learning and improving, but i know i can cross-apply the principles to anything. hope this helps. either way, good luck and trade well! omni
Long term position trading in futures is only done by the very deepest of pockets or the very newest of traders. Using my own pyramiding scheme, I rode that momentum bubble from the day that the first NQ contract came out until the June 2000 contract. tripled my account and lost it all in one day! I was so numb, it didn't even hurt. Since then, I have learned on my own what dbphoenix is talking about. He is right on the mark. Go check out his journal. There is a $3000 futures seminar for free. http://www.elitetrader.com/vb/showthread.php?s=&threadid=29005 Once you understand what he is talking about, you can answer the question yourself.
futuresource is awesome. i also like www.prophet.net and they have very competitive prices. they also have some innovative charting options. good luck and trade well! omni