Episodes
Friday Dec 06, 2024
How to Wisely Start Trading Futures (no PDT rule!)
Friday Dec 06, 2024
Friday Dec 06, 2024
- Step 1 - Get the Basics HERE
- Step 2 - Build a Strategy HERE
- Step 3 - Start Practicing HERE
- Step 4 - Begin Your Prop Firm Test HERE
I present a structured approach to beginning futures trading by focusing on risk management and personalizing strategies to fit my unique risk tolerance. I explain key concepts such as the pattern day trading rule and the benefits of choosing the futures market, including extended trading hours and accommodating smaller amounts of capital. I then discuss the importance of building an individualized trading system rather than relying on one-size-fits-all methodologies. After establishing this foundational knowledge, I clarify the concept of prop firm brokers and their impact on my trading potential, ensuring I understand the distinction between total purchasing power and the actual capital I risk losing. I emphasize the necessity of practicing with accurate parameters, using paper trading to mirror real conditions and force proper trading behaviors. By treating the trailing drawdown amount as my real account size during simulated trading, I create discipline that will transition seamlessly into live trading scenarios. Overall, I aim to provide a thorough, step-by-step framework that combines technical understanding, responsible risk management, and realistic practice routines.
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