Newbie Q about trading futures

[new_trader]

The spider does not need to "feed" everyday. He is content to wait until a morsel comes his way, patient and secure in the knowledge that he has taken the steps necessary for his survival. His carefully crafted web transmits to him all sorts of information. But he knows how to identify the false signals~ the wind vibrating his web, a drop of rain~ from the real thing enmeshed in it. Why does he know it so intimately? Because he has carefully constructed his web himself. No one else can build it for him. As a result, the configuration of his web is as uniquely his as his fingerprints. Most important, the spider is patient. He waits until he sees a convergence of most all of his indicators before he acts; but when he does, he pounces aggressively and without hesitation.

Yes... and remember.... Don't tease Funnel-Web Spiders! :-0

 

[black bear]

lol

Yes... and remember.... Don't tease Funnel-Web Spiders! :-0

well sensative creatures for sure

have a good week not so new trader :clover:

 

[grantx]

Pink,

Interesting you should talk about safety aspects in trading but I notice your pig isn't wearing a safety helmet and that ladder isn't secured. Just thought I'd mention it.

Grant.

 

[black bear]

good observation

trade one market , get to no it like the back of your hand would be my advice.

Trade it with minimum size, funds with broker should be treated as only resource you have even if that is not your full bank.

The size of deposited funds should imho put you under a little pressure to perform.

Excess funds / an amount you have decided in advance to commencing trading must be removed on the 1st of every month and should be treated as costs regardless of your trading performance that month. (10 % works for me / every month my risk at the market is reduced and my account / deposited funds remains the same if I trade well and re-produce past performance)= Forces trader to confront and examine performance especially bad performance

Some one posted ~ best you can afford for what you want to achieve regards charts / platform, I agree 200 % execution instant is for me and anything else is no good. Take your time to check everything out = time well spent.

The spider does not need to "feed" everyday. He is content to wait until a morsel comes his way, patient and secure in the knowledge that he has taken the steps necessary for his survival. His carefully crafted web transmits to him all sorts of information. But he knows how to identify the false signals~ the wind vibrating his web, a drop of rain~ from the real thing enmeshed in it. Why does he know it so intimately? Because he has carefully constructed his web himself. No one else can build it for him. As a result, the configuration of his web is as uniquely his as his fingerprints. Most important, the spider is patient. He waits until he sees a convergence of most all of his indicators before he acts; but when he does, he pounces aggressively and without hesitation.

Good Luck :clover:

Pink,

Interesting you should talk about safety aspects in trading but I notice your pig isn't wearing a safety helmet and that ladder isn't secured. Just thought I'd mention it.

Grant.

Hi Grant

Thanks, very good post

Never noticed, since you mention it.................

I consider risk is best managed with a strict control on the amount of money/percentage of ones total resources a trader is willing to put at risk in the market in what is a very high risk activity.

For me thats the end off, when I trade I accept those risks, I have to in order to function without FEAR of making a mistake being ever present.

I consider 5% being used of ones total worth (liquid savings / not your house) an exceptable overall risk for a futures account / trading with. Those funds then divided into 1%risk per trade and.... hard hats on is it not before work commences for a weedhopper trader

Over to you any thoughts you would like to share or comments to add Grant :?:

just noticed.............he"s only building a Bungalow Grant

Never can be to careful ~ just to be on the safe side = the very next working day, he as a spare helmet with a lamp for night work to

thanks for posting Grant appreciated, hows sunny Stockport these days :?: does not look that bad at night


Andy

 

[grantx]

Andy,

Working overtime/nights? Grabbing basstard. I think you need to rig up independent, startegically placed self-supporting lights with a reliable power source, eg mains or generator plus backup for contingencies.

"does not look that bad at night". That's when it looks its best. And it still looks bad then.

Grant.

 

[black bear]

not to bad Grant

Andy,

Working overtime/nights? Grabbing basstard. I think you need to rig up independent, startegically placed self-supporting lights with a reliable power source, eg mains or generator plus backup for contingencies.

"does not look that bad at night". That's when it looks its best. And it still looks bad then.

Grant.

Grant

not to bad

with in spitting distance some real nice places

all the best Grant :clover:

Nice mill of interest to many visitors

Children worked up to 12 hrs a day in them alongside their mothers not so long ago

TRADE WELL !


Andy

 

[black bear]

Limitations SUCK imho

Transported from another thread

Those boys over on another thread knocking bells out of each other

bit relevent to this thread so ...............

1 year learn total loss 1.5 K

traded in the money for 1.5 years

doubled 2 accounts while sbing and 1/2 way towards double on next


I am a car painter and I can not spell worth a sh...t my math is very average my discipline is not what I would like and I left school with zip

but obviously good enough to get by

I will never trade complicated options strategies or trade / program a computor to do it for me etc a real limitiation.

WHY the limitations everyware :?::?:

once you say or accept a limitation in your mind your done = Resistance

No need what so ever to think you are not good enougth just because such and such says this or that and as four degrees one in quantum phisics the other up is own assssssssss hole

I observed many would be snooker players in my youth at a top northern club (stockport )

at the time there was 16 jobs going in the world (top 16) if you wanted wages that is.

I can tell you now it was not the most talented that made it to the centre stage to take their chance far from it ................

95% of them never got past county level, they were just ...............


WEAK with no back bone to see the job through, never wasted a penny on them with a bet.

Pretty boys with no fight ! there are plenty of names in the top 16 with exceptional talent today who get beaten up many times in a season by good solid journey men who no how to fight.

Read the lot.
Educate yourself the best you can.
Take a good look at yourself and be honest what you can and can not do with a degree of competence.(real limitations obviously exist)
Plan

take some time off and ............

DO IT and see what your limitations really are = after the event.

Small stakes at 1st are fine there is no difference thats bullsh...t to imho 1% is 1% fear of failure is what makes the genuine competitors heart beat faster, that fades to a level where it is of more use than hindrance.

take the next shot = take the next shot = take the next shot = take the next shot 100% on each and every one

100% effort in the moment is your job the results will look after themselves

nothing else matters only the next shot NOTHING

DO NOT GAMBLE trade your plan the way you wrote it. Let your opponent GAMBLE

good money management will enable you to take that next shot when trading

Limitations SUCK imho all in your head (mine to/ but less so of late )

:spam:fftopic:

sorry flat at minute waiting for price to be touched ~

off on one again

Gone

Andy

 

[zeddy197]

Nice post ...got me smiling and no I'm definately NOT a weak minded, pretty boy with no.........! Confidence in oneself and one's trigger pulling ability is a big part of consistency for sure, but another, that I personally battle with is 'thinking'. I want to be 'smart' and not take every shot, I want to select only the best ones....so I find reasons (clever, well thought out ones, mind you) for choosing this signal over that one with the inevitable 'doh' consequences. So yeah I agree limitations suck and I, for one, am cursed with being far too clever to be a great trader....any ideas on how i can reduce my powers of intelligence and 'dumb down' a little. Sigh! If only I'd paid less attention at school.
True story: A few years ago when I first got into trading, I applied for a job as a milkman thinking I'd be done at work before the US markets open and having a regular income would be 'pressure relieving' on my trading. The boss asked me if I had any 'A' Levels and of course I proudly replied yep 3. He said then I can't give you the job, anyone with brains will leave in no time at all. You're way too clever, you wouldn't last a month!!!
I'm a great believer in 'self' help...for it to work, I know it has to come from within, deep within. And I do, I really do, want to become far less intelligent and consequently far more successful. Surely there is some progam I can undertake, there must be some exercises I can do. I'm keen, I'm willing, I need help or am I beyond.........

 

[black bear]

to clever

Nice post ...got me smiling and no I'm definately NOT a weak minded, pretty boy with no.........! Confidence in oneself and one's trigger pulling ability is a big part of consistency for sure, but another, that I personally battle with is 'thinking'. I want to be 'smart' and not take every shot, I want to select only the best ones....so I find reasons (clever, well thought out ones, mind you) for choosing this signal over that one with the inevitable 'doh' consequences. So yeah I agree limitations suck and I, for one, am cursed with being far too clever to be a great trader....any ideas on how i can reduce my powers of intelligence and 'dumb down' a little. Sigh! If only I'd paid less attention at school.
True story: A few years ago when I first got into trading, I applied for a job as a milkman thinking I'd be done at work before the US markets open and having a regular income would be 'pressure relieving' on my trading. The boss asked me if I had any 'A' Levels and of course I proudly replied yep 3. He said then I can't give you the job, anyone with brains will leave in no time at all. You're way too clever, you wouldn't last a month!!!
I'm a great believer in 'self' help...for it to work, I know it has to come from within, deep within. And I do, I really do, want to become far less intelligent and consequently far more successful. Surely there is some progam I can undertake, there must be some exercises I can do. I'm keen, I'm willing, I need help or am I beyond.........

Hi zeddy

I can"t help you, I am to clever to :cheesy:

I am a Full discretion trader these days and happy so.......... if I miss it just do not give a sh..t anymore, missed one this pm for what amounted to 5 ticks

why = late in day, had done real well and nailed them all, last had potencial to be best but potencial to be worst to, so scalped it off for an extra few.

Bookmaker in me closed my satchel for the last race = so what another day tomorrow

someone posted some place

Better out of a Good trade rather than in a Bad un

Another Bus along for sure

another thought ~ when you get good enough and you are confident to trade 5 lots + on the in - easier to leave a couple a bit longer perhaps


good trading :clover:

Andy

 

[black bear]

weak

sorry zeddy

I am weak, I was weaker

when I played snooker it was only late on I really got it...........Proper

always saw it in others but not myself

Very Lucky to play with a very good partner at doubles for 12 months for reasonable size money, he made me aware / taught me the head bit part of the game.

thanks Sen hope your well :clover:

Just showed me you do not need to play A1/your best game all the time to take the money, in fact the opposite is in fact true (cup play ~ different head required, because its not their money ) skill is transferable with modification

You do have to give 100% in concentration and effort on every shot to reap the rewards

100% 100% 100% over and over again ~

watch your opponent fold at the big shot every time, thats when talent and lack of 100% effort trips itself up. =

Opportunity

Good trading :clover:

Andy

 

[advfntrader]

interesting reading guys.

I recently started trading Oil, started with £500 and built it up to £1300, then on Tuesday got on the wrong side of the big fall with no stop ! - kept thinking it will come back and it didn't. result is I am now £1500 down.

 

[new_trader]

interesting reading guys.

I recently started trading Oil, started with £500 and built it up to £1300, then on Tuesday got on the wrong side of the big fall with no stop ! - kept thinking it will come back and it didn't. result is I am now £1500 down.

You are lucky it didn't come back! Sounds harsh, I know, but if it did come back and you made a profit you would continue with the disastrous habit of trading on hope instead of using a stop. Trust me when I say that sometimes it takes a few of these expensive lessons before it finally sinks in. I am speaking from experience. Don't beat yourself up about it. Think of it as an opportunity to start again more intelligently.

 

[enochbenjamin]

Attached is a spreadsheet that I use for determining how many corn contracts to buy. All you have to do is enter your starting equity and the rest will be computed for you. However, with initial capital of 5k - it might not work as I never risk more than 1.5% of total equity. Anyway, play around with it and I hope it helps.

Hey all. I am a total newbie and have only traded stocks but because of the pattern day trading restrictions, I am interested now in futures. Can someone answer a couple of very basic questions for me? I am a little fuzzy on what a contract and tick is actually worth. For example, according to Futures Trading Systems | Commodity Courses | Stock Futures | Futures Brokers | Options Training | Futures News, Quotes, Research, Charts, Courses And Education | Simulated Trading | Papertrading | Commodities | Futures Training | Options Paper Tradi

Corn has an initial margin of $1350. A contract is for 5000 bushels at a minimum .0025 tick or $12.50. So far, I got it.

1.Does the margin of $1350 simply mean that $1350 will buy one contract and no more?

2.Now, how much can I actually buy on say $5000 with my broker? Can I buy 3 contracts that would be worth $37.50 per tick with $5000? Is that how it works since 12.50 x 3 = $37.50?

3. Is that the most I can buy with 5K?

No, I do not want to go crazy using all of my leverage but just want to understand how it works before jumping into any trade. Thanks a lot!