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December 8th, 2017 at 3:13 pm
Millard / Futures – re. your question about /RB and others, as GrassHopper67 replied, these things will tear your face off, I've lost hundreds of dollars on /RB in the two minutes I went for a cup of coffee. I'm too ADD in my trading style (squirrel!!) and that's been a negative so I'm trying to move towards Phil's style of buy and hold, playing the longer waves. It's much more stressful to hold overnight and not close everything out, but long-term is actually more profitable and you can use disaster stops or buy options on some futures to cover the black swan risk.
My advice:
Start with Paper Money on ThinkOrSwim, you can play all you want with $100000 and lose nothing, and don't convert to real trading until you've had a month where you netted at least $5000 profit.
Learn about big wave charting and patterns analysis from Chris Kimble, Investopedia, and others that are good at it.
Read a lot of news, futures moves are news-driven. I read one to two hours a night of market-impacting news.
Most of the futures have mini versions, start trading those first, your risk / reward ratio is 25-50% of playing full-sized futures.
Start learning with /YM, it has the least expensive cost of mistakes and less of the zany moves of /NQ and commodities.
Hope this helps! Mocha