What's Next?

Discussion in 'Financial Futures' started by infolode, Dec 24, 2005.

  1. Where's the futures kiddy pool for beginners?

    I'd like to trade various instruments aside from equities and would like suggestions from experienced individuals.

    What's looking good for the future? I've got no problem devoting the time to learn, I just don't want to devote the time to a dead or dying industry.

    I hear references to eminis alot.

    Are these instruments ok for the little guy like me or more for deep pockets?

    CME E-mini S&P 500 (ES)

    CME E-mini NASDAQ-100 (NQ)

    CME E-mini Russell 2000 (ER2)

    CME Euro FX (6E)

    eCBOT 10 Year U.S. Treasury Note (ZN)

    eCBOT Dow (YM)

    Eurex DAX® Futures (FDAX)

    Eurex Dow Jones EURO STOXX 50 Index (FESX)

    Euro Bund Future (FGBL)

    EuroNext Liffe FTSE 100 Index (Z)


  2. Hey:

    Just one man's opinion. There is no "kiddee pool". Everyone is in the deep end. You either sink or swim.

    That is why it is a good idea NOT TO TRADE until you have your ducks in a row.

    Do a lot of reading, pick a market that looks like it might interest you and watch it closely over a period of months (at minimum).

    Do not buy trading seminars. Do not buy trading systems. Do not spend money on advisories or chatrooms. If you stay on here at ET, watch, read, use the search function and try to keep your powder dry long enough to figure out who the good guys are.

    There are some skills you could be working on "while you wait". You could for instance learn Excel, and basic statistics. couldn't hurt to take a programming class or two as well. If you are serious about this business, in the end you will need to have this background.

    When you have been here a while, you will figure out who is who. Then you should ask questions, and start to get more involved. Take it a step at a time.

    Merry Christmas and good luck
  3. Thanks Steve,

    I'll take your advise.

    Sink or swim....

    Merry Christmas
  4. The first questions I have for you would be: What are the results of your current trading?

    Futures trading provides substantially more leverage than equities (if that is where you have experience). The futures markets are a lot more efficient and present you with a greater price increment for the lowest size (1 contract). I have known guys who completely lose their discipline while trading futures after doing well with equities. This is the effect of a consolidated market and higher leverage.
  5. The kiddie pool?........The triple-A leagues?.........The Farm System?..........The CBA? What you're thinking of is called the Mid-America Commodity Exchange. They still trade smaller-sized grain contracts They might have a bond contract too. If you're badly undercapitalized, it's a better place to start trading than using CBOT contracts.