Trading 101 Trading Group Calendar

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status1

Well-known member
I was thinking it might be appropriate to to go over how to trade futures for beginners since this is a 101 kind of class
Or is this class more for advanced traders ?

I mean there is no use opening up a prop firm or get a trading platform if you don't know how to trade futures and by that I mean to trade futures for the prop firm
I have a feeling they are not interested in long term futures traders at least from what I have seen in the futures trading group It seems like mostly short term trades or scalping than having any sort of strategy

Once you know how to make money than you can look at opening a prop firm and getting all the tools necessary to trade

Just my opinion
 
I would also vote to have the future sessions that are listed at some point. The future topics are excellent.
 
@status1, There is definitely a very structured approach to trading Futs via prop firms. Not long term trading for sure, the trailing acct liquidation levels will hurt longer term trades. It's more around quick scalping with stop loss and profit targets. That's how most approach the prop firms. For long term Futs trades, the best approach would be to fund a personal account (I have AMP Futures, so a bit of bias here....) which allows very low day trading margins as well as much lower overnight margins compared to say SCHW or IBKR.

I also have prop accounts with multiple firms. The approach I use there is much more scalping oriented for 1 or 2 ES points or 5 or 10 NQ point moves. Definitely 1 min and 5 min chart type of trading. My tools are Price Action, Volume Profiles, and Supt/Resist Areas of Interest.

@tom, This might be a good topic to be covered in the weekly Futures Trading Group session.
 
Thanks for confirming my suspicion I am not interested in scalping and watching the market all day waiting for something to happen

I played with long term futures with Ameritrade before Schwab took over and also at Tastytrade with oil and bonds and made a little money with options and assignment but just 1 contract If you can get on the right side of the market before some big event you could make a decent amount of money in a few days or weeks
I also had a big drawdown last year as I was caught up on the wrong side but I stayed in it and was able to get out of it and made a small profit so there is definitely a potential risk so I am doing something else now not future related
 
status1 said:
Thanks for confirming my suspicion I am not interested in scalping and watching the market all day waiting for something to happen

I played with long term futures with Ameritrade before Schwab took over and also at Tastytrade with oil and bonds and made a little money with options and assignment but just 1 contract If you can get on the right side of the market before some big event you could make a decent amount of money in a few days or weeks
I also had a big drawdown last year as I was caught up on the wrong side but I stayed in it and was able to get out of it and made a small profit so there is definitely a potential risk so I am doing something else now not future related
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I get that, and I respect that. Every trader needs to know "his or her" trades. Find a style and a trade that works best for you. Then trade the heck out of it.

My reality is a bit different from what you describe in the Futs markets. I hate to sit all day at the computer as well. That's just like having a job.... Nope, not what I want at this point in my life.

I have probably three or four of "my" setups or trades. Two of those are my favorites. Pick a very liquid Futs market (mine is ES), and I will see six or eight opportunities in that first hour of RTH, the daily session. Trading carefully and conservatively, I will take three trades, each netting about 1.5 points. After commissions, let's say that's 4 points per day. I trade my personal account, plus copy trade a bunch of prop accounts. 10 accounts means that's 40 ES points, 20 accounts, 80 ES points. At $50/point ES, I'm banking my profits and getting to the gym two hours after the open. Without any worries or need to check if the market has reversed, like the 90 point ES selloff and reversal that just completed now (1:15 pm ET, 9/11/24)

My option trading, especially shorted dated trades, has me checking the markets throughout the day, getting back to my trading station to make adjustments as needed. It's not worry free.

I trade both options and futures, and I'd say my scalping is a lot more stress-free and conducive to free daytime hours.
 
Sounds like you are already doing well with your prop account

Do you think you will learn anything new from this trading 101 trading group ?
 
Yes, generally I'm looking for one or two nuggets of good info, or something I haven't seen or viewed in some way before.

Unfortunately, it looks like today's meeting has been canceled.
 
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