Looking to get into Futures Trading

This is a discussion on Looking to get into Futures Trading within the Futures & Options forums, part of the Markets category; Hello fellas. I am looking to getting into day trading futures. Read a lot about it and it sounds super ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Nov 12, 2017, 10:52am   #1
 
2 Posts
Joined Nov 2017
Looking to get into Futures Trading

Hello fellas.
I am looking to getting into day trading futures.
Read a lot about it and it sounds super interesting and something I would love to begin doing and perhaps get into it full time in the future (pun intended)

I have gone through a ton of videos on how to make my first trade, or how to trade futures for beginners, but it seems non of these videos and webinars are really showing you how to physically do everything (form finding a broker to actually making the first trade)

All the videos are show/explaining is either what future trading is, or they simply just straight to a chart and a live trade.

Personally I have no knowledge on how to read these charts, how to analyse these charts, how to even find the stocks/futures that are being traded, and so on.

I am what you would call a full out beginner/noob when it comes to trading futures.

I do have stocks I am invested in but that is totally different from day trading.

Where do I begin? Where can I find ALL the knowledge I need to literally start doing this on my own?

Thanks a lot!

Cheers.
elbgal is offline   Reply With Quote
Old Nov 12, 2017, 2:53pm   #2
Joined Apr 2016
Call up any broker and open account. Deposit money and then place bets. The more money you bet, the quicker you learn, it's that simple. If you bet nothing and use a demo account, you learn nothing.

Maybe your existing stock broker has a side business in futures, ask them first.
EnlightenedJoe is offline   Reply With Quote
Old Nov 12, 2017, 3:03pm   #3
 
barjon's Avatar
Joined May 2003
Go to the first steps forum and read the sticky posts at the top http://www.trade2win.com/boards/first-steps/
barjon is online now   Reply With Quote
Old Nov 12, 2017, 4:17pm   #4
Joined Oct 2015
Quote:
Originally Posted by elbgal View Post
I have gone through a ton of videos on how to make my first trade, or how to trade futures for beginners, but it seems non of these videos and webinars are really showing you how to physically do everything (form finding a broker to actually making the first trade)....
have a play on a demo account because you at least need to know what the buttons do..

here are the first 3 to pop into my head but there are many others:

EDIT: I just reaslised you are in Canada so im not sure what brokers you need off the top of my head
Kaeso is offline   Reply With Quote
Old Nov 12, 2017, 6:22pm   #5
 
dbphoenix's Avatar
Joined Aug 2003
Quote:
Originally Posted by elbgal View Post
Hello fellas.
I am looking to getting into day trading futures.
Read a lot about it and it sounds super interesting and something I would love to begin doing and perhaps get into it full time in the future (pun intended)

I have gone through a ton of videos on how to make my first trade, or how to trade futures for beginners, but it seems non of these videos and webinars are really showing you how to physically do everything (form finding a broker to actually making the first trade)

All the videos are show/explaining is either what future trading is, or they simply just straight to a chart and a live trade.

Personally I have no knowledge on how to read these charts, how to analyse these charts, how to even find the stocks/futures that are being traded, and so on.

I am what you would call a full out beginner/noob when it comes to trading futures.

I do have stocks I am invested in but that is totally different from day trading.

Where do I begin? Where can I find ALL the knowledge I need to literally start doing this on my own?

Thanks a lot!

Cheers.
Do you have $10,000 (or equivalent) to put into a futures trading account?
__________________
Trading Price
dbphoenix is offline Training literature vendor (e.g courses / spreadbetting guides / eBooks)   Reply With Quote
Old Nov 12, 2017, 6:34pm   #6
 
2 Posts
Joined Nov 2017
elbgal started this thread
Quote:
Originally Posted by dbphoenix View Post
Do you have $10,000 (or equivalent) to put into a futures trading account?
I do have that amount, however was under the impression an amount of such is not needed. Why did you specifically ask about this amount?
elbgal is offline   Reply With Quote
Old Apr 29, 2018, 8:34am   #7
Joined Apr 2018
You will need a lot more than $10000 to trade futures, you will be undercapitalized. A small drawdown will wipe you out very quickly.
Bradtex is offline   Reply With Quote
Old Apr 29, 2018, 5:27pm   #8
Joined Oct 2015
Quote:
Originally Posted by Bradtex View Post
You will need a lot more than $10000 to trade futures, you will be undercapitalized. A small drawdown will wipe you out very quickly.
Hi, this is not strictly true because there are some micro contracts such as:

GOLD MGC
http://www.cmegroup.com/trading/meta...fications.html

GBP M6B
http://www.cmegroup.com/trading/fx/e...fications.html
Kaeso is offline   Reply With Quote
Old Apr 30, 2018, 2:23pm   #9
Joined Apr 2018
Quote:
Originally Posted by Kaeso View Post
Hi, this is not strictly true because there are some micro contracts such as:

GOLD MGC
http://www.cmegroup.com/trading/meta...fications.html

GBP M6B
http://www.cmegroup.com/trading/fx/e...fications.html
Very little volume and slippage will be issue.

What is point of being undercapitalised when trading, there is already enough stacked against you.
Bradtex is offline   Reply With Quote
Old Apr 30, 2018, 7:01pm   #10
Joined Oct 2015
Quote:
Originally Posted by Bradtex View Post
You will need a lot more than $10000 to trade futures, you will be undercapitalized. A small drawdown will wipe you out very quickly.
i was talking about this statement which is not strictly true

you did not mention volume or slippage

Last edited by Kaeso; Apr 30, 2018 at 10:58pm.
Kaeso is offline   Reply With Quote
Old May 1, 2018, 9:48pm   #11
Joined Oct 2015
Another example is XBT.... one of the forum favorites... bitcoin!

The contract multiplier for the XBT futures contract is 1 bitcoin, currently about 9000 bucks

Last edited by Kaeso; May 1, 2018 at 9:55pm.
Kaeso is offline   Reply With Quote
Old May 7, 2018, 3:26pm   #12
Joined Apr 2018
Quote:
Originally Posted by Kaeso View Post
i was talking about this statement which is not strictly true

you did not mention volume or slippage
Have you ever traded thin instruments -especially as a beginner daytrader?

The best way to learn how to day trade would be to trade something liquid like the ES, but $10k is waste of time. Have you ever met a trader who went from $10k to 1mill. Being undercapitalised is the number 1 reason my traders fail.
Bradtex is offline   Reply With Quote
Old May 7, 2018, 3:47pm   #13
Joined Oct 2015
Quote:
Originally Posted by Bradtex View Post
..Being undercapitalised is the number 1 reason my traders fail.
this is false. if you are a losing trader a bigger position just means losing more money.
Kaeso is offline   Reply With Quote
Old May 7, 2018, 3:58pm   #14
Joined Apr 2018
Quote:
Originally Posted by Kaeso View Post
this is false. if you are a losing trader a bigger position just means losing more money.

Sorry, you are wrong. Half of this business is money management as well as diversification. There is no investment or strategy that will work consistently - so you need to diversify. Being under-capitalised even when learning to trade means you stuck in 1 crappy market, or missed opportunities because your in one trade and can't afford to taken on another position in a more profitable market. It also means you have limited scope for adjusting your risk especially in futures in which trading 1 contract is minimum.

You are giving these guys with little to no money false hope, but that is just my opinion.
Bradtex is offline   Reply With Quote
Old May 7, 2018, 3:58pm   #15
Joined Oct 2015
Quote:
Originally Posted by Bradtex View Post
Sorry, you are wrong. Half of this business is money management as well as diversification. There is no investment or strategy that will work consistently - so you need to diversify. Being under-capitalised even when learning to trade means you stuck in 1 crappy market, or missed opportunities because your in one trade and can't afford to taken on another position in a more profitable market. It also means you have limited scope for adjusting your risk especially in futures in which trading 1 contract is minimum.

You are giving these guys with little to no money false hope, but that is just my opinion.
if they are trading those kinds of contracts they do need a good amount of coin and many will try with insufficient funds. i know what you mean. i just thought you were talking generally. i dont want to give people hope of trading contracts too big for them
Kaeso is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Please help, Futures Trading Mps721 Futures & Options 22 Dec 3, 2011 12:30am
Futures Trading fiftyfifty Home Trader 6 Apr 8, 2008 6:33pm
Futures Pit Trading Vs Electronic Trading new_trader First Steps 5 Dec 16, 2006 7:24pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)