For many of the people who are thinking about futures day trading, I’m sure that you have your reasons. You’ve probably heard all of the great claims of these programs that say they can turn you into a millionaire in a short period of time. They say that you’ll be rich, or you’ll lose all of your money. These programs are all bogus and nothing more than scams. There is no such thing as a program that will make you a millionaire overnight, but there are programs which can turn around a person’s loss to an amazing gain.
So, with a little bit of training, and some money, you could very easily earn: $3,500/ month or more than: $2750/ month or more than: $3000/ week or more than: All this based upon a simple futures day trading system that begins by learning how to trade futures using fundamental and technical analysis.
Once you have learned the ins and outs of the markets, it’s time to begin looking at the markets from the perspectives of traders and not investors. Most of us who are day traders are looking for that winning trend to continue, and to continue we must use technical analysis. That is, using technical analysis to determine the market’s psychology and trend will help you make educated decisions when it comes to trading. Let’s take a look at what this entails.
The first step is to find a forex strategies trading system that is right for you. This may require some research on your part. Be sure that any system you decide to use has proven statistics to back up its claims. Also, be sure that it has been optimized for a low risk level.
Next you’ll want to set a buy and sell target on each individual currency pair. For example, you may decide to buy the EUR/USD and set a limit of fifty x what the EUR looks like after one week, five weeks, or ten trades x what the EUR looks like after two weeks, etc. The idea here is to set a daily target so that you’re not losing money if one currency ends the day lower than the other. You will also need to set a stop-loss target here as well.
Once you have done all this research, it’s time to test drive your new trading strategy. Start with only five to ten trades using a demo account. Make sure the money management of these trades is effective. If not, then make adjustments until it is. Remember, make all profits into your account with exclusive promotion code.
Many forex strategies will tell you to use a variety of forex strategies. These core strategies are not important. You are not looking for a mix of strategies. What you want is low leverage, high frequency trading, which mean low spreads, and the ability to profit rapidly. All this is possible with the right market maker.
Many of these brokers will provide exclusive promotion codes for new accounts. This helps traders get into trading at very low leverage while still making money. The fact that you don’t pay any commission on your profits makes this even better. So, get into forex trading with the right broker and exclusive promotion code and make big profits in the FX markets.
Some day traders have told me they use an automated software tool to help them find winning trades and win 50% or more per trade. I told them that was impossible and they either never learned how to win at day trading or didn’t have the right tools. The truth is that an automated tool can certainly help you make money and there are some good ones out there. However, you cannot make a living just by letting this tool make trades for you.
You have to learn to become an expert trader and then use a mini lot size strategy. Once you do that you can move up to the full size versions. Once you have done this and developed some expertise in the forex market, you can start to think about moving up to a winning trade using a mini lot size strategy. You can also use multiple mini lots sizes and different trading types to try and win trades from different positions.
Many top traders like trading exclusively with leverage. They don’t trade with just leverage. In fact, many times they will trade a mini account for just a couple of pips and then go larger with bigger leverages. Many traders have used this exclusively to gain a lot of experience and then once developed a sense for winning trades using a tight stop-loss and they feel comfortable with the risk-reward ratio, they go all out and open a standard account. If you follow my advice, which is to develop your own style and learn how to read price action, you will become an expert trader and start making money day trading futures with leverage.