T Nation

Futures trading


#1

Anyone here trade futures contracts profitably?

I'm looking for recommendations on good websites where I can trade paper money contracts in order to gain more knowledge on the subject.
I have done enough reading & now need to learn how to actually carry out a trade.

Thanks in advance.


#2

Futures brokers will usually offer a free trial if you sign up.

http://futuresonline.com/software/download1.cfm
http://www.unitedfutures.com/simulatedTrading.htm
http://www.tradestation.com/trading-technology/tradestation-platform/execute/simulator
http://www.tradingsimulator.net/features.html

The CME offers simulated trading.

http://www.cmegroup.com/education/simulation/#realTimeSims


#3

Looks good, thanks man.


#4

I am currently in the process of learning the trading game as well. I have conducted my research via mostly online sources, as well as a finance savvy friend. I would like to gain as much information in this area, before actually taking the plunge. Do you have any sources that you can recommend? Websites? Books? Anything that can help? Thank you in advance for your time, and help


#5

Lots of trading talk in here: http://tnation.T-Nation.com/free_online_forum/world_news_war/price_of_oil?id=6168072&pageNo=1


#6

Very few people have any business getting involved in this.


#7

[quote]Dr. Pangloss wrote:
Lots of trading talk in here: http://tnation.T-Nation.com/free_online_forum/world_news_war/price_of_oil?id=6168072&pageNo=1[/quote]

Thank you Dr.Pangloss, do you have any other recommendations? As I already have subscribed to this topic already and have been following diligently.


#8

Ninja trader is the platform i use and they offer a free trial for 30 days. Even after the trial expires you can just resubmit for another one and CQG will send you a new username and password. The trial is a simulated account using real market data supplied by CQG and is fully functional, with a lot of customizable indicators already built in, and many more available through various sources that can be downloaded and installed using ninjascript.

Think or Swim also offers an unlimited use free trial, visually its easier to see patterns and read the charts, and is more userfriendly but i prefer Ninja trader for the chart trader and ability to click and move my stops on the fly. Depending on what you trade, every second counts when placing your orders. In my case i trade CL which is extremely volatile during the hours i am trading (0800CT - 0930CT) and i consider the ability to trade off the chart absolutely essential.


#9

[quote]jzy50309 wrote:

[quote]Dr. Pangloss wrote:
Lots of trading talk in here: http://tnation.T-Nation.com/free_online_forum/world_news_war/price_of_oil?id=6168072&pageNo=1[/quote]

Thank you Dr.Pangloss, do you have any other recommendations? As I already have subscribed to this topic already and have been following diligently. [/quote]

Check out Eminimind.com, schooloftrade.com, sidewaysmarkets.com, and big mikes trading forum. All great sources of information for day trading futures.

Investopedia is a handy resource for all things trading related as well. They have a great way of making things easy to understand when you are first learning.

Once you are at a level of understanding where you can paper trade and understand whats going on, watch videos on youtube of people trading. Its an invaluable resource and one of the best ways to sharpen your skills.

Most important thing is to manage risk and keep it simple. ALWAYS place your stops. ALWAYS plan your exit strategy ahead of time. No when to walk away.

You dont need 10 indicators and 6 charts to make profitable trades. Make sure your charts are easy to read, and start off with the basic indicators such as volume, EMA’s and SMA’s. Then you can start to make use of other tools like Fibonacci retracements. Simplicity is key.


#10

Google “Phantom of the Pits” and I would recommend jack schwager and his market wizards.


#11

[quote]audiogarden1 wrote:

[quote]jzy50309 wrote:

[quote]Dr. Pangloss wrote:
Lots of trading talk in here: http://tnation.T-Nation.com/free_online_forum/world_news_war/price_of_oil?id=6168072&pageNo=1[/quote]

Thank you Dr.Pangloss, do you have any other recommendations? As I already have subscribed to this topic already and have been following diligently. [/quote]

Check out Eminimind.com, schooloftrade.com, sidewaysmarkets.com, and big mikes trading forum. All great sources of information for day trading futures.

Investopedia is a handy resource for all things trading related as well. They have a great way of making things easy to understand when you are first learning.

Once you are at a level of understanding where you can paper trade and understand whats going on, watch videos on youtube of people trading. Its an invaluable resource and one of the best ways to sharpen your skills.

Most important thing is to manage risk and keep it simple. ALWAYS place your stops. ALWAYS plan your exit strategy ahead of time. No when to walk away.

You dont need 10 indicators and 6 charts to make profitable trades. Make sure your charts are easy to read, and start off with the basic indicators such as volume, EMA’s and SMA’s. Then you can start to make use of other tools like Fibonacci retracements. Simplicity is key. [/quote]

Audiogarden1 thank you very much for your thorough, and explanative responses! I will be following all your advice and start researching via those sites that you shared. Once again thanks for your time, and sound advice


#12

[quote]jiroumi wrote:
Google “Phantom of the Pits” and I would recommend jack schwager and his market wizards.

[/quote]

I will be sure to check these resources out Jiroumi. Thank You!


#13

I meant market wizard series :slight_smile:

You get a good sense of multiple ways of trading, and the best way to trade is what fits your beliefs and personality and style… And of course risk and position management.


#14

[quote]jzy50309 wrote:

[quote]audiogarden1 wrote:

[quote]jzy50309 wrote:

[quote]Dr. Pangloss wrote:
Lots of trading talk in here: http://tnation.T-Nation.com/free_online_forum/world_news_war/price_of_oil?id=6168072&pageNo=1[/quote]

Thank you Dr.Pangloss, do you have any other recommendations? As I already have subscribed to this topic already and have been following diligently. [/quote]

Check out Eminimind.com, schooloftrade.com, sidewaysmarkets.com, and big mikes trading forum. All great sources of information for day trading futures.

Investopedia is a handy resource for all things trading related as well. They have a great way of making things easy to understand when you are first learning.

Once you are at a level of understanding where you can paper trade and understand whats going on, watch videos on youtube of people trading. Its an invaluable resource and one of the best ways to sharpen your skills.

Most important thing is to manage risk and keep it simple. ALWAYS place your stops. ALWAYS plan your exit strategy ahead of time. No when to walk away.

You dont need 10 indicators and 6 charts to make profitable trades. Make sure your charts are easy to read, and start off with the basic indicators such as volume, EMA’s and SMA’s. Then you can start to make use of other tools like Fibonacci retracements. Simplicity is key. [/quote]

Audiogarden1 thank you very much for your thorough, and explanative responses! I will be following all your advice and start researching via those sites that you shared. Once again thanks for your time, and sound advice [/quote]

I am no expert. Ill try to give you some newbie tips that help me but im no authority on trading. Different personalities fit different trading styles/strategies, you may find that what works for me doesnt work for you at all. There are guys on this site who have forgotten more about trading than i will probably ever know.