When I first became interested in trading futures I had no idea as to where to go to get details about trading. I didn't know anyone that traded the futures market. Actually, when I talked to anybody about futures all I heard was "Don't trade futures, it's way too dangerous, you might lose everything you own."
At the time, I had a small savings and was considering corporate reorganisation to steer clear of corporation bankruptcy for my business. Luckily, my business adviser led me through trading futures. If you are within the same position and thinking about corporate reorganization to raise funds, read on to find out tips on how to make fast funds and make wise business decisions.
Indeed, you may lose money fast within the Futures market, but you may also make money quickly because the leverage is amazing and that's what interested me. I knew I had to have a great system, but where would I go to locate one?
Books had to be the answer. Like I said previously, I guess I was not very bright simply because soon after reading thirty or forty books thoroughly and having applied the techniques learned from the books, I was not in a position to trade profitably on a consistent basis.
I'm sure some are capable of using these strategies to trade successfully, but I was not able to do so. When having a book burning party a number of years ago, I decided to keep one book to remind me of my experience.
It's on my bookshelf and I review it once or twice a year to keep this experience fresh in my memory. There might be some excellent books out there that show you how to trade effectively on a consistent basis, but sadly I never found one. I wasted years on this endeavor.
By this point, computer trading was getting popular. I received an advertisement about a program where I could basically write my own system and back test it to get results before actually trading it. Wow! This was fantastic and it was only $4500.
They advertised that any person would be able to program this thing. Well, they must have meant any person with the exception of me. I wasted hundreds of hours trying to write programs unsuccessfully. I didn't know the program language and I wasn't in a position to get enough information to learn it.
So, I decided to be intelligent about this scenario and purchased another program at only half the cost of the first one. I was in a position to write a couple of programs that produced very well in back testing, if one could stand twenty point stops within the S&P. I really liked this idea, but finally had to admit that it was not going to give me what I was looking for.
For years now, I was studying charts each day plus weekends and evenings. Obviously I was aware that all indicators, techniques, systems etc., started with price. None of these things can be made without price moving first.
I had a tough time learning to trade without a mentor.
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