futures trading for noobs?

[kakuzu]

Hi, I got interested in trading futures(russell). Just this weekend I attended a free introductory seminar. Then after the seminar they are offering the course for S$3,800 = 2 day training + 1 day boot camp. Now my question is, Is there anyone of you guys who can share some "FREE" stuffs that may teach me to learn all about trading the futures(russell), understanding those charting stuffs, put, call, and etc.. etc.. etc...I have tried googling about it but ended up to websites doing the same, they ask for email address and when you get in, they offer the real tutorial but not free..geez...

 

[platopus]

Usually this kind of $3800 seminar is for you to just give your money away nia.
I rather you go buy one lot of spdr sti etf, buy gold, donate to charity.

Go National library and borrow those books and read lor, watch youtube.

Disclaimer, I know nothing about futures trading, but I am quite sure the $3800 will not gain you anything substantial

 

[Mr Anonymous]

Wasted 3.8k

Rather u come in edmw seek advice for free

 

[dloreangel]

dont go for it.
i was one of those who paid for school.. and school fees is down the drain.

read more, interact more in this forum,
and above all, trade small to gain experience first.

waiting for alexchia to come here and share with u on better use of ur time and money

 

[Alpaca]

I recommend u trade s&p first instead of russell as a start

 

[civicguy]

And I believe you can easily find a lot of futures reading books and web sites.

Don't pay the $3800. Don't pay a single cent except to market itself.

 

[havetheveryfun]

2 days training is useless one.. if you really backside itchy want to pay for course (Though highly not recommended).. find those that provide after sale support. Like whether the mentor will help you to point out your losing trades, where you went wrong, etc.. how to improve.

and by after sale support is not mean those just use ticket system in email, must be the mentor PERSONALLY reply your sms, able to meet u in person to chat, etc that kind... but ofc this kind hard to find nowadays , hence better not to waste your money

 

[CookieMonsta88]

Hi, I got interested in trading futures(russell). Just this weekend I attended a free introductory seminar. Then after the seminar they are offering the course for S$3,800 = 2 day training + 1 day boot camp. Now my question is, Is there anyone of you guys who can share some "FREE" stuffs that may teach me to learn all about trading the futures(russell), understanding those charting stuffs, put, call, and etc.. etc.. etc...I have tried googling about it but ended up to websites doing the same, they ask for email address and when you get in, they offer the real tutorial but not free..geez...

why not u try tastytrade.com, they have a youtube account where they have videos teaching about options and futures, and they are certified professionals too and the youtube videos are all free, the people are from the brokerage called thinkorswim, which is a subsidiary of td ameritrade. the stuff they have are quite accurate.

but apart from that, i think the best way to learn to trade futures is to understand the product u are trading, in ur example the russell, u need to find out what moves the russell markets, find out the market in general what is it doing now? what is interest rates doing now? any change in interest rates soon? what are the companies in russell? what sector does russell track? is russell or the US in a bull market or bear market? and then what technical analysis tools can u use to time it? perhaps there is a double bottom forming and the US is in a bull market, so u want to buy anticipating a double bottom neckline break?

if u can answer these questions, u have a working method to make money already, the rest depends on ur ability to research, time and trade the markets and manage risk, as the trade tactics are just as important as the research thesis which backs the trade up, what can u do to skew up and make more money when u are proven right by the markets? what can u do to mitigate risk if possible when proven wrong?

 

[alexchia01]

Hi, I got interested in trading futures(russell). Just this weekend I attended a free introductory seminar. Then after the seminar they are offering the course for S$3,800 = 2 day training + 1 day boot camp. Now my question is, Is there anyone of you guys who can share some "FREE" stuffs that may teach me to learn all about trading the futures(russell), understanding those charting stuffs, put, call, and etc.. etc.. etc...I have tried googling about it but ended up to websites doing the same, they ask for email address and when you get in, they offer the real tutorial but not free..geez...

1. If you want to trade Futures, why choose Russell? It's one of the crazy horse in the mix. You still don't know how to ride and you already choose to ride the crazy horse. You should choose something that are less volatile, like S&P or DOW.

2. If you are new to Futures, yes, take a course to understand it. But don't expect to be immediately making a living out of it, after a 2 day course and a boot camp. It takes 5 years to become a profitable trader, so take your steps carefully and calibrate your expectation.

3. There are tons of free stuffs online, just google or search in YouTube.

4. Futures and Futures Option are 2 different things, although they are both provided by CME. In Futures, there are only buy and sell. In options, there are put and call. I'm not an option trader, so I can't advice you on option. However, if you want to trade Futures, then just looking at the Futures are good enough.

 

[klarklar]

1. If you want to trade Futures, why choose Russell? It's one of the crazy horse in the mix. You still don't know how to ride and you already choose to ride the crazy horse. You should choose something that are less volatile, like S&P or DOW.

2. If you are new to Futures, yes, take a course to understand it. But don't expect to be immediately making a living out of it, after a 2 day course and a boot camp. It takes 5 years to become a profitable trader, so take your steps carefully and calibrate your expectation.

3. There are tons of free stuffs online, just google or search in YouTube.

4. Futures and Futures Option are 2 different things, although they are both provided by CME. In Futures, there are only buy and sell. In options, there are put and call. I'm not an option trader, so I can't advice you on option. However, if you want to trade Futures, then just looking at the Futures are good enough.

May I ask which Futures did you choose? Why that particular horse?

 

[alexchia01]

May I ask which Futures did you choose? Why that particular horse?

I trade DOW because it's the heavy weight of US economy. 30 Blue Chips.

You can trade S&P also, as it comprised 500 of US strong companies.

Russell has 3000 companies, some good some bad, a rojak. Most unpredictable among the 3.

 

[klarklar]

I trade DOW because it's the heavy weight of US economy. 30 Blue Chips.

You can trade S&P also, as it comprised 500 of US strong companies.

Russell has 3000 companies, some good some bad, a rojak. Most unpredictable among the 3.

I see. The small number of stocks that make up this index makes it much more analyzable. Is that the main reason for choosing Dow?

May I ask why not commodities futures? Wouldn't they be even easier than an index made up of 30 stocks? It is just 1 commodity instead of 30 stocks. Why not oil trading, particularly when the trend seems quite well-defined given that oil just dropped >50% in 6 months non-stop? Why not currencies futures as well?

 

[alexchia01]

I see. The small number of stocks that make up this index makes it much more analyzable. Is that the main reason for choosing Dow?

May I ask why not commodities futures? Wouldn't they be even easier than an index made up of 30 stocks? It is just 1 commodity instead of 30 stocks. Why not oil trading, particularly when the trend seems quite well-defined given that oil just dropped >50% in 6 months non-stop? Why not currencies futures as well?

The reason why i choose DOW because it's the one I understand the most.

There is nothing wrong with other traders choosing other futures, it's more of a personal preference. But when you choose one, you have to stick to it. Don't jump between different products.

Why are there no Commodity Mix or Currency Mix futures? I don't know, you have to ask CME people.

 

[archcherub]

I see. The small number of stocks that make up this index makes it much more analyzable. Is that the main reason for choosing Dow?

May I ask why not commodities futures? Wouldn't they be even easier than an index made up of 30 stocks? It is just 1 commodity instead of 30 stocks. Why not oil trading, particularly when the trend seems quite well-defined given that oil just dropped >50% in 6 months non-stop? Why not currencies futures as well?

what everyone here is trying to tell u...

1) dont go for schools - the only people confirmed getting rich is the teacher.

2) best way to learn - read a lot, using all the free stuff. i recommend library, internet etc. cookie suggested tastytrades there are tons of materials out there
at least understand whats DOW, S&P and Russell.

understand classic TA from babypips.com or any of investopedia etc

3) trade small, like what alexchia said... must ownself trade for 5yrs to get the experience.


seriously dont believe any guru lah.
i really went through a lot. all nonsenses.
i not only paid money for some schools, i saw the notes from friends and and other people from other schools. i kept seeing wrong info inside!!

a specific school closed down last year, the guru ran off. i am pretty sure the total loss of his students more than $1m

even 2 option traders, i saw their notes.. cannot even get their time decay lessons correct. what a big mistake!!!
i am supposed to be their "student" yet i understand more than them in the basic fundamentals...

1 more guru called for buy in AUDUSD, strong buy in oil

1 more guru, 1 of my friend paid for his course.. his whole course taught basic TA.. which i pointed out, can be learnt online for free.
and his superb after-sales mentoring didn't come true. coz every time the whatsapp group is silent... the mentoring came after the market moved.

like that I can watch CNBC also.
free.

 

[outlook88]

Wondering if anyone would be interested in this idea.

Trainees Pay $5-8k for a two month course where you have to spent 8-12 hours in an office to trade a simulator for futures trading. Full trading computer set up with 4-6 screens.

Futures trading strategies will be taught to you in the first 2 weeks and you practice trading for the next 6 weeks on your with guidance from a few trading mentors. Mentors will spend 10-20 minutes each days with you discussing mistakes and what could be done better.

Most importantly the mentors will not tell you exactly how to trade but just provide guidance for you to learn by DIY. These mentors are fulltime traders.

 

[alexchia01]

Wondering if anyone would be interested in this idea.

Trainees Pay $5-8k for a two month course where you have to spent 8-12 hours in an office to trade a simulator for futures trading. Full trading computer set up with 4-6 screens.

Futures trading strategies will be taught to you in the first 2 weeks and you practice trading for the next 6 weeks on your with guidance from a few trading mentors. Mentors will spend 10-20 minutes each days with you discussing mistakes and what could be done better.

Most importantly the mentors will not tell you exactly how to trade but just provide guidance for you to learn by DIY. These mentors are fulltime traders.

Full-time trader is not necessary successful trader.

Successful trader is not going to spend 8-12 hours everyday to teach you his trading strategy for a mare $5k-$8k for 2 months, that's only $2.5k-$4k per month. This is less than the amount I made in 2 days.

 

[wahkao3]

Most importantly the mentors will not tell you exactly how to trade but just provide guidance for you to learn by DIY. These mentors are fulltime traders.

if i am to pay money for a mentor, i expect them to properly me exactly how to trade.

If i need to learn by DIY, why bother paying them? Where's their value add?

 

[wahkao3]

Full-time trader is not necessary successful trader.

Successful trader is not going to spend 8-12 hours everyday to teach you his trading strategy for a mare $5k-$8k for 2 months, that's only $2.5k-$4k per month. This is less than the amount I made in 2 days.

jin satki!! 2 days earn more than 2.5k!!!!

true also, the successful ones wont teach for low fees

 

[Ratking]

90% of the trainers here usually make more money teaching than trading. lets put it this way, if i can guarantee make money from certain strategies, why would i share with you?? wont my share of profit dwindle if i were to expose to the public??

of course there is some geniue teachers. but then, the is still a price to pay( for their effort n commitment). best way to learn is self study, donate some money to the market(instead of bogus teachers), and ask your brokers(me) .

basically 90% so call traders will lose money....and 80% of this 90 die is just one simple reason....refusing to cut loss!!

to be succesful in trading, first and foreost is you have to learn how to lose money first. everyone knows how to make money from trading, but like i say before 90% will not know how to react when market goes against them...