So, of all the business opportunities and investment opportunities you want to learn how to trade futures markets and actually make money doing it?
Maybe you are sick of your 401K doing nothing or hearing the whole diversify garbage many so called experts throw at you?
Maybe you are just bored and looking for something you can enjoy and get into? Well learning how to trade futures is an exciting ride, but if you treat it improperly, it will eat away your nest egg in a hurry.
Many a trader has washed out in a hurry watching thousands of dollars whisk away within minutes to days on one trade alone, while the pros are laughing all the way to the bank because some sucker just handed them their money on a stupid trade.
It’s like in Vegas Vacation where the Black Jack dealer tells Clark W. Griswold after losing numerous hands at black jack, “Why don’t you give me all your money, we’ll go out back, I’ll kick you in the nuts, and we’ll call it even?” and then laughs in his face.
Well, let’s discontinue this whether you have already lost money or have thought about learning how to trade futures right now!
Here are my top 5 tips to learning how to trade futures the right way. It is trading, not investing, and not gambling. There are very big distinctions but each type of personality seems to creep into the mix.
$$ Have a plan and a system and follow it to the letter. If you want to know how to trade futures like the pros, it is by following a proven system. Not by going with your intuition or your gut, but by treating it like a business.
$$ Discipline is key. Just like Vegas it is easy to get wrapped up in the money and the excitement that a big movement in the markets can bring. Profits are profits are profits. Cut your losses short and be sure to stick to your plan even when the chips are down. Minimize losses and take profits is a great motto.
$$ Education at all costs is the key to learning how to trade futures. I spent a small fortune for me to learn this racket and it was worth every penny. One turn in the wrong direction can lose it all.
$$ Never risk money you can’t afford to lose and never bet more than 20% on one trade. This is call money management and if you don’t have the discipline to follow that, then you will never make it as a futures trader.
$$ Perfect practice makes perfect. Paper trade for a while before you risk any money. Then try the e-mini markets and see what happens. Work with stop losses, entry points, and reading charts. This will provide the confidence you need to throw some money into the game.
Bonus tip: Don’t follow the glitz and glamor of the almighty sales guys. You must trust yourself to make the right decisions. I recently met a full time trader online and he set up a great website and forum to talk about how to trade futures.
The problem was that he was not a salesman or internet marketer and people didn’t seem to stay on his site because the practical information that was being discussed was not interesting enough for people.
He made the comment that if people don’t see the glitz and glamor they don’t stick around. His other point was that good ole fashioned hard work, smart trading, and discipline were what made him successful as a futures trader.
Remember you are up against the pros and you must take this game seriously if you want to make it in this business.
I spent thousands to learn what I am teaching you in this article. This is a start and if you want to get the hang of this racket, I suggest getting some education or coaching.
This way you are the one laughing all the way to the bank!