Resources support for futures trading

[jackfutu18]

Futures trading is actually a quite difficult field to trade. We need news, recommendations.... Could you share with us resources supporting our trade?

 

[DSfutures]

Anyone got any proven coaches they have used that helped them trade consistentely? New at futures trading but want to get off on the right foot before discovering bad habits or losing too much.

Thx

 

[amnonco]

trading is the same no matter the instrument.
of course there are differences, but trading-wise, it's all the same.

if you have specific questions, i'd be glad to answer.
the only one good general advice, though,is don't over-leverage.

 

[dealer911]

You should find good unbiased advice on this forum- my general advice.. Use a stop loss that if triggered will lose you a maximum 3% of your trading capital!

 

[DSfutures]

What lot sizes would you say to start on or does this not really make a difference to your trading?
I have been using 5m time frame but thinking of going shorter?

 

[dealer911]

start on 1 lots.. doesnt leave you any room to average into a position but thats no bad thing to begin with.. shorter time frame will create alot of noise and could lead you to over trade.. especially when the market is just drifting on no news..but everyone has their style and maybe that will work for you. always best to start small until you are consistently making more money on your profits than you are losing when you are wrong.. plenty of time later to up your size.

 

[amnonco]

What lot sizes would you say to start on or does this not really make a difference to your trading?
I have been using 5m time frame but thinking of going shorter?

I don't mean to sound rude or anything.
but if you don't know what time frame you trade and how to determine lot size - it sounds like (to me) that you don't have a strategy or a plan.

if that is the case - start by thinking about a plan.
this is a good tip - don't dismiss it - if you'll trade without a plan - you'll lose.

lot size is determined after you know your equity/risk per trade/stop strategy/exit strategy/risk:reward any or all of the above.

time frame - that's up to you - but the longer time frame the less noise (as mentioned before) - if it's your first time trading - don't start shorter than daily.
only when you're profitable consistently trading daily - you can move to shorter time frames comfortably.


another advice - listen to the advice on this board. don't filter them, and take only the ones that you agree with apriori.

and good luck!