Thoughts Of A Futures Trader
futuresmag photo
Does the young man have any hope? lol
You decide. The future can be uncertain at times. That is why "futures trading" is thought
to be so unpredictable and uncertain.
But, after I have settled down a little over the years. It is starting to get a little easier for me.
Maybe it is because of the past pain that I have suffered. It may have dulled my senses some. lol
Not that I have arrived yet. After I make my first $100 thousand dollars. Then I will be able to
confidently tell you that it can be done. Oh, we are not there yet. Ha ha Not even.
But I have learned a few things. After some thought. I have decided that it should be OK to
show a few things that I think I know about futures trading.
Shown below is my actual trading chart. It is a "Daniels Trading Chart" and I am using "CFRN" indicators to make a decision for my trade entries.
Of course, I don't use the standard entry and exit points that CFRN teaches. I have my own ideas.
That is likely why I have had so much trouble trying to trade profitably. I have tried to re-invent the wheel. Ha
We wrote before in another post, about each candle being (8) ticks in height. And that they equaled to $100 dollars of ES Chart price movement up or down.
Notice the number grid on the right hand side of the chart. One number up or down is (1) dollar. Which is (4) ticks.
$12.5 dollars per tick. So (4) ticks up or down on the number grid equals $50 dollars trading (1) one contract.
I want $100 dollars per day for each contract I trade. That is my goal. So I have to gain (8) ticks.
Of course, it can take more than one trade to do that.
Keep in mind that I have adjusted the charts to suit my trading preferences. If you were to follow CFRN and their teaching.
You would not see them using (8) ticks on their trading charts. I think they use a (4) tick range chart. I am different. lol
Look below at the indicators on this section of the chart that I have highlighted for you.
See the solid red and green lines. Not the "dot and dash" lines. Just the solid ones.
Those are the CFRN "Weekly Trading Zones." I put a lot of confidence in those areas for trading.
CFRN charges a monthly fee for some of their indicators. But, not all.
Once you become a partner. Some are free. For life.
The little red and green dots are "support and resistance" dots. They also help me in my trading.
Shown below.
That is all for this post. I will explain a little about the "dot and dash" lines the next time I try
to explain a few details about my futures trading.
Question? Can you do this? Sure you can. Do you have risk money that you are willing to lose? Say conservatively.
$10,000 dollars? And are you ready to suffer emotional pain for a few months/years?
I did. And I have spent a lot more than any $10,000 dollars. Easily three times that much.
Just to buy a help service can cost a few thousand dollars.
CFRN is not cheap. They say they are.
And they could be right in comparison to the competition's costs.
You can find many other services too. None will be cheap. Trust me on this.
But, if I can do it. Nearly anyone can. But, be ready to be shocked.
(futuresmag) photo
Thank you for following along with me in my showing you how I trade the futures.
I will take a break for a few days in my showing and teaching you about futures trading.
Francis
Thank you for writing this as a series...I will study only so I can understand the trials and tribulations.
I kind of feel like the same kind of learning curve happens with buying and selling crypto.
@rebeccaryan
Thank you for reading my post. It is for you that I write this. And for others as well.
I had wanted to add a little more information to my trading decisions.
It isn't any secret that I rely heavily on the indicators that I have purchased or am paying monthly to receive.
This is why I pay.
It is because others have spent a lot of time and effort to understand what they call, "the rhythm of the market."
In addition to that. They also needed to know how to code all the information that they acquired into a usable addition to the charts. So, whatever they receive in compensation. It was through hard work and knowledge.
The cryptos should be much the same. I think that I had seen a charting service with usable indicators that they were offering for a fee. Sorry. I didn't save it.
Maybe a search on Google would identify some for anyone interested.
Believability or trust could be a concern though. Not everyone is qualified to be a chart builder.
But, I do believe that at some point in time. Many services and guides will be available. Maybe some are now.
I haven't looked for any. Trusted sources will also be identified.
As you have said. The best is yet to come.
Francis
I really appreciate that you are taking the time to do this. It really does help me to be able to follow along and support you. I have no time to be a trader because I think to be really successful at it, you must constantly be watching for the best opportunities to buy and sell and not lose the farm at the same time. I don't have the nervous system for it. I know this about myself. I would sleep even less than I do now.
I appreciate ALL the skills that you have taught yourself Francis.
I can't tell you how proud I am of you for teaching these things to all of us.
I greatly admire you. (I know what you are thinking. Yes, I do. Do not argue with me on this point.)
Thank you for teaching me. I Steemit love you Francis. ;)
@rebeccaryan
I need to get down over the hill and do a little homesteading today. And I will.
I have to answer your reply. I will take time for you always.
It is true. I have learned a lot about futures trading. And I could conceivably take some
of that knowledge over to "crypto trading." But, I likely won't do that. At least not now.
One very important aspect of trading is the "black swan" event. We can be blindsided by it at any time. Even shocking news events can roil the markets in a rapid movement. For or against us.
Remember. Stops are for loss protection. But, in a fast moving market. Stops can be of little value. The bid has to be there to stabilize the market. In a fast moving market. The bid can be what is called, "overrun." Meaning the market is moving so fast. That the bid is swallowed up in fast trading action. Rarely does this happen. But, when it does. It isn't pretty.
I will always help anyone who has any questions. I don't have all the answers. But, maybe someone I know does.
Thank you for Steemit loving your needy friend. I need all the friends I can get. Without friends. Life can be a little lonely. I Steemit love you too. I am so glad that we have Steemit.
How would I have ever known you and @knarly327. Truth is. I wouldn't.
Francis
I couldn't stand the pressure or the loss
@cowboyk
I couldn't either. Have you ever had a situation where you were past the point of no return?
That is what happened to me. It was easier to take the battering and bruising a little farther down the rabbit hole than to try to crawl back out with nothing.
I haven't conquered futures trading yet. But, at least I get a punch or two in now that counts for me.
I like that. Ha
Francis
Reminds me when I tried to learn to play the piano. Once I learned to read notes it made it somewhat easier. Sometimes I wish I would have kept it up but other interest took the time. It all takes time and effort and I wasn't willing to continue in that endeavor. Happy with the projects I have now.
@pastorike
The more we work at something and practice for a while. It becomes easier.
In the case of my futures trading. I have to be careful. Or I could become complacent.
And that isn't good.
Francis
Very Interesting Post @francisk - have you tried out crypto trading? The reason I ask is that I reckon you would be a wizard on the Crypto trading platforms -
Thank You For Posting
@blackrussian
Thank you for asking. Maybe I should consider it. But, this futures trading has kept me occupied for a long time.
Now that I am beginning to understand it a little. I want to enjoy what I have learned.
It could be more lucrative. But, I am satisfied.
Francis
Very nice post - now i'm googling what cfrn is...) Why you use dtTerminal, why not MT4/5?
@astrolog
I use Daniels Trading because that is what CFRN was using at the time I became a Partner.
Daniels Trading is a little higher in their commission costs too. But Burt or Leslie is always there to help
us anytime we need them Even after hours. Burt will answer a text I send after hours.
I normally would not do that. But in the beginning. I did do that a time or two.
Thank you for your interest. If you have any questions. I will answer them if I know the answer.
Francis
Why you did not do a protection and responded to those bruises instead of taking one. You could try this to avoid slipping
@walidsalah
Have you ever heard the expression. " it is hard to teach an old dog new tricks?"
Well. Maybe that describes me. It is hard to accept anything, other than what I want to do in my trading.
A very costly approach for sure. I hate to lose. And in this attitude we can find a lot of problems for a mind
such as that. Ugh
Francis
hhhhhh@francisk
I heard this expression but in Arabic
I wish you more experience and excellence
Great job
hallo kawan,,Good night for us in Indonesia Malaysia area.
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