Looking to get into Futures Trading

Nov 12, 2017
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#1
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) :clap:

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.
 
Apr 4, 2016
1,959
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#2
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.
 

Kaeso

Active member
Oct 4, 2015
860
91
38
#4
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
 

dbphoenix

Well-known member
Aug 24, 2003
6,908
1,150
223
#5
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) :clap:

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?
 
Apr 28, 2018
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#7
You will need a lot more than $10000 to trade futures, you will be undercapitalized. A small drawdown will wipe you out very quickly.
 

Kaeso

Active member
Oct 4, 2015
860
91
38
#8
Apr 28, 2018
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#9

Kaeso

Active member
Oct 4, 2015
860
91
38
#10
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
 
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Kaeso

Active member
Oct 4, 2015
860
91
38
#11
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
 
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Apr 28, 2018
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#12
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.
 
Apr 28, 2018
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#14
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.
 

Kaeso

Active member
Oct 4, 2015
860
91
38
#15
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
 
Apr 28, 2018
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#16
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
Just re-read what I wrote and I am might be going over the top. You might be able to learn a little trading smaller markets. However, lets take an example of a guy starting with $10k - a nice return of 50% in a year will get you $5k - now we know most guys will blow up the first couple of accounts. Its just not worth the time to day trade all day every day for such limited returns, think of opportunity costs. If you have a decent job or you think you can raise some money then the learning curve might be worth it, if not then don't expect to grow your $10k to $200k in the space of a couple of years - rare for this to ever happen, it is like the talent competition odds.

Best markets to learn to trade are liquid markets otherwise you will have to worry about the spread. Also, liquid markets will give TA guys far more opportunities.

My advice is to get good job and then learn on the side and then slowly start putting some of that cash to work.

Just remember the psychology of a guy with a small account, they are often looking to get rich quick and those accounts blow up very quick.