What's the best futures for a beginner to trade?

Discussion in 'Professional Trading' started by bat1, Mar 12, 2013.

  1. bat1



    I'm tired of stocks I'm really starting to hate them

    However Futures seem to be very exciting :)

    So, I'm asking where do I start?

    what would be the best to start with oil? gains? e-mini 500?

    What firm do I use?

    What's the best web site to learn from?

    Trading futures is a 24/7 operation?

    What about Tax time how do you report them? is there a wash rule with futures also?

    I only got 60k to begin with..

    Maybe somebody can put me under there wing and get me going
    and down the road I will reward them..

    FYI.. I'm 52, military retiree ....

    Thank you:cool:
  2. it would be easier to help if you explained what it is about stocks you are starting to hate

    have you also lost interest in spy or dia? because all es or ym is, is the futures version of those etfs
    Big AAPL likes this.
  3. dom993


    Crude-Oil is a great market to trade - plenty of volatility, decent volume (~200,000 contracts / day), 1-tick bid/ask spread during the day (more likely 2 at night), and lots of tradable patterns.

    In any case, do your homework, get a few years of historical data from a reliable source, and backtest your trading ideas.
  4. If excitement is what you are craving then I suggest doubling down on a loosing spin on the roulette table and betting the family farm.

    You will never feel more Alive! Man is that Exciting!!!!!
  5. rt454


    I agree with dom993, crude gives you lots of movement. You will quickly find out if you are right or wrong with your trade.

    The market is 24/7 but no need to trade all of it, just the busier times (generally US mornings). As far as taxes, talk to your accountant and ask him about the 1256 rule.
  6. to each his own

    I'm still trying to find out why the op is starting to hate stocks

    I know I started out with a series 7, and just never had the stomache to buy MCD, since imho the crap they sell there is not even food

    when I got a series 3 I found a home in wheat, corn and beans. Something I could understand, plus, I really liked walking the fields and talking with the farmers.

    I know for me personally, I wouldn't touch CL or any other energy product with just 60k in my account.
  7. Daring


    Futures got better price action, cleaner to read, better taxation, liquidity as well.

    Stocks move a heck of a lot more, can catch very nice runs but everything else is sub-par.
  8. I certainly wouldn't trade stocks, unless I could spend 16 hours a day studying balance sheets, and knew people personally who were involved in the business

    It's not a game for amateurs

    I never buy a stock unless a professional has done due dillligence on it for me, and they don't come cheap
  9. I dont get why you are "tired" of stocks.... they provide way more opportunities than dealing with futures...

    as to futures, it depends on your risk appetite and if you want to trade technicals or fundamentals...

    rates and ags are a good start IMO...
  10. ok, I started with 60k, and traded crude, now I only have 4k left, I will give you 2k if you teach me how to trade
    #10     Mar 13, 2013