Futures Trading strategy. Please Help!

[Mps721]

Ok so for my graduation present my parents gave me 5,000$ to start day trading. I heard that futures were the best for day trading so I started there. Right now I am down to about a little over 3K and I feel that I am loosing money because I do not have a good strategy or I am not trading properly. I NEED SOME ADVICE PLEASE HELP BEFORE I LOSE ALL MY MONEY

 

[Mps721]

O yea btw I dont have bills or anything so if I could make like 50 bucks a day I would be the happiest person on earth lol!!!

 

[gedward3]

O yea btw I dont have bills or anything so if I could make like 50 bucks a day I would be the happiest person on earth lol!!!

Look for the Three Ducks Strategy on here and use some basic support and resistance with some Pivot Points and round numbers. Look at the previous 2 days high and low and you should be able to make a nice little strategy.

Watch every day for a few weeks and see what common traits you see in what ever instrument you choose.

Ged

 

[Hotch]

Take the money out and put it in a bank, educate yourself, then risk the money, you seem to be doing it the other way round, by the time you learn a good strategy you'll have lost your stake.

 

[hcarlow]

Hotch just gave you the best advice you can get.On average It takes about 3 years of hard work to make a really good trader. I have a college education and the whole bit and believe me when I say this, " trading futures was the hardest thing I have ever had to learn, period" . You didn't get your education overnight and you won't get to ba a trader overnight either.You are up against some of the worlds best .Trade a sim account and learn from your mistakes.

 

[Mps721]

Everybody, thanks again for all the advice I really appreciate all the advice

 

[shuvo]

man you have 3k .. that's more than mine (77$) .. do you trade eur/usd... if you do .. may be i can help you a little ..

call / mail me.. shuvo

 

[Rvlv]

everybody, thanks again for all the advice i really appreciate all the advice

get education first
do the testing
find a good mentor
learn things for 12 months
no trading
just collect others experiences
let your mentor test your sill
if he agree then begin trading
read emotionfree trading e book by larry llevin
good luck

rvlv

 

[Mps721]

man you have 3k .. that's more than mine (77$) .. do you trade eur/usd... if you do .. may be i can help you a little ..

call / mail me.. shuvo

Actually after some thought I been thinking about trading forex because it seems like the best bang for your buck and no commission fees

 

[Bint_Crusher]

Get educated. Simple.
Get a coach . Simple
Watch the markets, do not trade them. Simple