Trading Futures or anything at all. It is all the same really. It takes a lot of work , patience , simplicity and time. To be good at anything it takes years of hard work , mistakes , and practice.
I think the best advice would be to keep things simple , find and focus on a trading plan that fits your personality. I have found it best to specialize in one area and stick to basic TA. No need to tweak indicators , or moving averages , just find ones that work and get so familiar with them you trust them. You gotta believe.
Stops are the most important thing you have to have in your plan. You know stops are run , so stay away from obvious stop areas.
TA works , and I believe that fundamentals show up in charts first.
This is my check list in no certain order;
The Check list
01. Candlesticks or patterns
02. moving averages vrs price
03. Macd
04. Stochastics
05 Williams %
06 CCI
07. Volume
08. larger time frame and trend if present
09. Channels and trend lines
10. support and resistance
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So I open a chart and do the list , then decide if there is an opportunity available. If there is, find the place "stop" where I believe the trade will not work and needs to be closed. I go into every trade not knowing if it will work or not , that way I focus on protecting my funds first and foremost.
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I believe it is very important to do your own work , trust your TA , and turn off outside influence.
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I could go on and on I guess , and I probably will at some point.
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I think the most helpful books I have read are the Market Wizards books , and Trading in the zone by Mark Douglas.
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Find a niche and repeat and rinse , over and over and over again.
Be patient wait for your set up and pull the trigger without hesitation ,set stops , knowing that no one gets it right every time , no one!
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A simple system will work in most markets , and all time frames.
The key is to make the winners out pay the losers , knowing there will be both. Knowing there will be both , it is easy to move to the next set up when it appears.
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Kinda got caught up in the moment , rambling.................
Woodfish
AI
