I purchased a trading plan thats the writet believes works for him. After reading it however I was expecting a little more in the way of how to do things. I read up on sites about Futures, they tell me what they are and how they are traded, but as soon as I hit a brokers website I'm totally lost. Where do I start?? The software is overwhelming, graphs and nubers here and there, data streams, brokers fees, the lot.... none is entioned in the trading plan, I think it presumes you are already trading, badly. I have never traded, so wheres a good place to begin? I dont wish to read theory, I', after a how-to on the leading trading software, and how to organise my future trading periods. Any good links? I was thinking of picking up 'Futures and options fo dummies' Will this book tell me how to get started and what all the info ont he screen means? Thanks Noob.
Well, I hope you didn't just have to rely on his "belief" when you bought the plan. How do you know, that anyone can be successful with that plan? You need to do backtesting to know more about its potential. You also have to do research about money management, if that is not included in that plan. Don't get me wrong, but you are long way from actually being able to successfully trade futures - be it with that plan or without.
After I started playing the piano I joined a band at one point and my knowledge/ability increased exponentially. Being part of a group and getting interaction is a good thing. There are chat rooms you can join where active traders -- some newer, some not -- will tell and show you what they are doing in real time. You'll also see who is consistently successful. NihabaAshi on this site has a free chat room that I was in years ago, and I think I benefited greatly. Good luck. It's early yet. Give it time.
Here are two links with basic info on trading futures and building a trading plan. http://www.cbot.com/cbot/pub/cont_detail/0,3206,1180+17719,00.html http://www.online-futurestrading.com/example_trading_system.htm If you read these pages and don't understand some of the terms: Look them up - all of them!
If you have no experience at all in trading I'd strongly suggest to educate yourself before investing any money in the markets. I'm also not sure that trading futures is the best idea if you have no prior experience trading.
Wow, at least I know this forums busy! Thanks for the feedback Yeah, I currently invest in DXinOne, which is trading with currencies such as egold, and also have money in Fastmarket pool. They make good figures butI'd like to do more for myself. I went ahead and purchased a plan, the guy who does it shows his daily winnings on his members area. Sounded good so went ahead with it, but the plan makes little sense to me asI cant really read the charts and figures. We all started somewhere... and im not willing to throw cash into it until I have it sorted, there are demo sites i noticed. Thanks
is the plan you purchased refundable ? tell the gentleman you made a mistake and have no idea how to trade and understand his method. maybe he will give you your money back or teach you the basics I agree that if you have no idea what is going on the idea of trading esp highly leveraged markets futures / fx is a recipe for a blowup of account PS .... I would suggest you take your money out of fastmarket ASAP ( I mean who the heck is this company ) ?