Wondering if it's a good gig or not
Anybody here participate in futures trading?
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It's a great way to make money. It's a great way to lose money.
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I do. Also I do exactly what RR said.
I only ever play the margins
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It can be a great gig. Takes discipline....and capital.
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I'm wondering the best way to get started.
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Watch youtube videos to start wrapping your head around things and ask questions from there. It's a huge universe and it's hard to find a niche unless you really understand a segment of the market. Any idea what you have in mind?
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I'm gonna stick with my tried and true 'buy high', 'sell low' plan
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Watch youtube videos to start wrapping your head around things and ask questions from there. It's a huge universe and it's hard to find a niche unless you really understand a segment of the market. Any idea what you have in mind?
Well I don't know hardly anything but from what I'm reading the most popular thing to trade in would be the indexes. Like S&P or Dow futures. Get a trade monitoring program and set stop losses and profit caps. Trade multiple times within a few minutes type of thing.
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I started with money I would have spent on a black jack table.
Its a job
There is a learning curve and there as many "here's what you do" people as there are people.
I like stocks that allow me to short as well as call.
Many times I'll play the stock both ways
Right now I like Apple.
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The thing about futures that they say is better than stocks is that you've got virtually 24-hour trading access.
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Sounds like you should take a look into Gamma Scalping. Buddy of mine does well with it. I do some but only when he tells me spot gamma is looking out of balance.
Essentially what you do is buy puts and calls bracketing the current price over the next day or few. You are expecting that the options prices that you are paying are out of balance with a event that will move the market. The worst case scenario is the market does not move and you are out the premium you paid.
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Isn't gamma scalping only used with regular stocks or options on stocks? I'm talking about futures trading.
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Sounds like you should take a look into Gamma Scalping. Buddy of mine does well with it. I do some but only when he tells me spot gamma is looking out of balance.
Essentially what you do is buy puts and calls bracketing the current price over the next day or few. You are expecting that the options prices that you are paying are out of balance with a event that will move the market. The worst case scenario is the market does not move and you are out the premium you paid.
This. I lose if the stock stays stable
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Isn't gamma scalping only used with regular stocks or options on stocks? I'm talking about futures trading.
You can Gamma Scalp in any market including futures.
Best Futures Scalping Strategy to Use in 2023 • BenzingaYou don’t have to hold futures contracts for long to profit from them. Here is Benzinga's list of the best futures scalping strategy options.www.benzinga.com -
Yeah, well,
Getting started usually means a period of paper trading just to get the mechanics down.
Then one should have a real heart to heart with their checkbook to map out risk tolerance as pessimistically as prudent.
Used to be most brokers made futures and forex accounts prove their moxie before allowing access.
It's not an inexpensive skillset to acquire.
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You'll be warned off repeatedly.
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Yeah, well,
Getting started usually means a period of paper trading just to get the mechanics down.
Then one should have a real heart to heart with their checkbook to map out risk tolerance as pessimistically as prudent.
Used to be most brokers made futures and forex accounts prove their moxie before allowing access.
It's not an inexpensive skillset to acquire.
I played with a Fake Forex account. But the amount of time it was taking to make any money wasn't more than the amount of money even doing my knives. At least not with the amount of money I would have had to put up.
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That's the key. You can average 20% per month.
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Can I do it from my cash app?
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Get a Schwab account.