Help newbie with trading futures please!

[Challenger]

Hi guys. I am newbie to trading, though read some ebooks and have some yet to read. I decided to trade 10 year US treasuries. Because one tick gives $15 which is not too little and not too much when loosing it. I tried trading (on simulator) emini S&P and they run too fast for me. Even if it goes in right direction, this thing just goes back and forth, back and forth sometimes with big spikes. So when I had tight stops (4 ticks) they were often triggered, and just after that later price was back in my direction, but having wide stops is dangerous to losing much. Treasuries are not so volatile, what do you think? Is it okey for newbie trading treasuries? Are there any good strategies or recommendations specific to trading treasuries, taking into account lower volatility most time? Because now I just sit and watch candles forming and when I see some movement I act, but I do not have exact strategy, and it is not good. I also sat and watched the superDOM thing in NinjaTrader trying to understand anything but those numbers look just really chaotic for me. I noticed that when there are a lot of total volume in "sell" column price goes up, and when in "buy" - price goes down. I thought it should be vice versa.

Also I cannot figure out the time thing yet. I am planning to daytrade only (as per my not big deposit). Tell me please the time when I can start trading and till what time? I read treasuries are traded at 8.30 and CME opens at 9.30. But what time does it open - New York or Chicago? Please tell me exact time in GMT when it is allowed to start US day trading treasuries? My time is GMT +7, New York time is GMT -5 and Chicago is GMT -6. So when in New York is 9.30, my time is 21.30. When I go to marketclocks.com it says that market opens 21.30 of my time. But according to Chicago time, the market should open 22.30 of my time.

 

[Rhody Trader]

Treasury futures floor trading begin trading at 8:20 AM NY time, 7:20 Chicago - currently 12:20GMT.

 

[robster970]

Thinks you 'd be better off having a look in the first steps section

http://www.trade2win.com/boards/first-steps/

 

[jel_futures]

Although this thread is a little outdated, if your new to futures trading you should not dive in head first with out being properly educated and you should have a plan.

I feel its always worth mentioning that position trading should not be overlooked, especially for new traders. Some people want the excitement of day trading, but I rarely find someone completely new to day trading having immediate success. It takes a good amount of experience, trial and error, and a great knowledge of the markets.

With position trading you are able to utilize risk management techniques(spreads) and you can also avoid the day-to-day effects of volatile market fluctuations by trading far out-of-the-money options(although their are many people who do not like selling options) and collecting premiums when the options expire worthless, which they do around 75-80% of the time.

The bottom line is to make sure you are prepared before you enter the market, and with the proper education hopefully you will become successful

 

[Ctrl+Alt+Del]

Although this thread is a little outdated, if your new to futures trading you should not dive in head first with out being properly educated and you should have a plan.

I feel its always worth mentioning that position trading should not be overlooked, especially for new traders. Some people want the excitement of day trading, but I rarely find someone completely new to day trading having immediate success. It takes a good amount of experience, trial and error, and a great knowledge of the markets.

With position trading you are able to utilize risk management techniques(spreads) and you can also avoid the day-to-day effects of volatile market fluctuations by trading far out-of-the-money options(although their are many people who do not like selling options) and collecting premiums when the options expire worthless, which they do around 75-80% of the time.

The bottom line is to make sure you are prepared before you enter the market, and with the proper education hopefully you will become successful

Can anyone recommend a good book on finacial derivatives trading, or futures strategies?
Have found lots but it would be good to have some feedback/advice.
Cheers

 

[CTS]

Can anyone recommend a good book on finacial derivatives trading, or futures strategies?
Have found lots but it would be good to have some feedback/advice.
Cheers

Hi

Take a look at Commodity Options by Paul Brittain & Carley Garner

Also, if you are interested in learning about trading, check out www.commoditytradingschool.com. The classes on the site are free & offer a truely diverse selction of traders, strategies, and information about futures & optiosn trading from real readers & analysts.

Enjoy

 

[jackfutu18]

Just in the short words, you will not be down. Whenever you want, just check the following sources for help. Good luck!

 

[TRADINGXYZ]

Can anyone recommend a good book on finacial derivatives trading, or futures strategies?
Have found lots but it would be good to have some feedback/advice.
Cheers

Over the years I have come to find that books on trading are generally worthless...Sometimes they provide an idea but you always have to research stuff on your own...that said one of the better books that may help is Street Smarts by Linda Raschke

 

[dealer911]

Over the years I have come to find that books on trading are generally worthless...Sometimes they provide an idea but you always have to research stuff on your own...that said one of the better books that may help is Street Smarts by Linda Raschke

I agree alot of the books that try and teach you to trade are rubbish but you can learn alot from interviews with traders which you can find in the Market Wizard series by Jack D. Schwager and also from reading the autobiography of some of the great traders like livermore and Baruch.. here are some of my favourites. http://bit.ly/9HDmYN
I am sure people have other reccomendations.

 

[Ninja_Trader]

You can head on over to www.futuresfx.ca and have a look around. I can provide links to future seminars that Simon will be holding so people can join in and see what his teaching is all about.

Currently, I'm a student and partner of his, and in the process of learning his methods day to day. His method does work, and it's very much worth the money. Not only is it great teaching, but his trades are shared as he takes them. No hiding or anything. Every win, every loss is there for you to see. The losses are rare, but there is always a lesson to be learned from everything.

A lot of people have joined up lately after viewing Simon's seminars. I will provide a link to the next information seminar when it comes up. Free to view to the seminar.

If you have any questions please feel free to ask me.