Futures Trading Systems

Vito Turitto’s presentation at the London Traders and Investors Club dealing with asymmetric volatility processes: definitions, features, mathematical models and practical applications on the Crude Oil Futures Market, Gold Futures Market, FTSE100 and Euro vs Dollar.

Forex Day Trading For A Living

There are many folks out there today that would love to become full time traders and day trade for a living if possible. After all anyone with a brokerage account and a connection to the Internet can day trade stocks, options, futures, commodities or forex currencies online from the comfort of their home. For what it is worth, it is way easier said than done.

In order to become a successful day trader and make a living from day trading, a person must be prepared to put in the hard work, time and effort required to succeed as a day trader. A trader has to master all the skills required to be successful. The biggest skill to be mastered is in the form of emotions and it is probably the hardest of all to come and master. That is why it is always better to learn day trading from a mentor who has been trading for a while. A mentor is always the preferred route compared to just reading some books on trading or buying a black box system. The training received from a mentor can be expensive but invaluable at the same time. One must always look at the background of the trading mentor before choosing one.

It is always a smart idea to start trading with money a trader can afford to lose. Paper trading works well too, but lacks in the strong emotion building process required to be successful as a trader. A trader must always use risk capital to succeed at day trading for a living. Using money kept aside for immediate day to day expenses or money borrowed from a credit card is a recipe for disaster. Scared money never wins the trading game. Forex Day Trading For A Living

A day trader must keep a track of all the trades placed in a journal. This journal must be updated on a daily basis. This will help the day trader immensely as he will learn from his mistakes and always keep working on getting better. A day trader has to keep his expenses low to make money in the long run. To do so, he must wisely choose his trading software, broker and his Internet Service Provider. A day trader must also learn to read the market well and know when to take trades and when to stay out. Following other traders or gut instinct can have negative consequences on the day trader as well as his account. It is always better to trade well as per the rules set out and come back to fight another day than to lose it all in one day.

It is possible to make a living at day trading if all the rules are laid out in a trading plan by the trader and followed religiously by the trader. Forex Day Trading For A Living

CANADA STOCKS-TSX may open softer; recovery fears weigh
Aug 30 (Reuters) – Toronto’s main stock index looked set to open softer on Monday, as concerns about the sustainability of the global economic recovery persisted even as closely watching U.S. data showed personal spending rose more than expected.

Read more on Reuters via Yahoo! Asia News

The concept of futures and futures markets, involving a legal binding contract for the delivery of a specified quantity of a commodity at a specified time in the future at an agreed price, originated in Chicago in the 1830s. The idea behind this was to make the prices even and give farmers, in particular, some way of hedging their crops well before harvest. After the American Civil War, the Chicago Board of Trade formalized this into the first real futures markets with standardized contracts.

Gold futures contracts entered the scene much later, towards the end of 1974. The primary reason for this was the fact that trading in gold was non-existent as the United States was on a fixed price gold standard (The monetary system with a fixed price for gold and with gold coin either forming the whole circulation of currency within a country or with notes representing and redeemable in gold) until 1933. The futures trading in gold made its entry with the first gold futures contract trading in New York on the Commodity Exchange (COMEX) on December 31, 1974. Later, other American exchanges, including the Chicago Board of Trade, followed suit. In fact, there was also a trial run for gold futures with a 400-ounce; the traditional unit of weight for gold is the troy ounce, named, it is thought, after a weight used at the annual fair at Troyes in France in the middle ages. Although the metric system is used increasingly in mining and the gold business, the troy ounce remains the basic unit in which the price of 995 gold is quoted (One troy ounce = 31.1034807 grams, 32.15 troy ounces = 1 kilogram) (troy ounce = 480 grains, 3.75 troy ounces = 10 tolas; as known in India). The American exchanges, particularly, COMEX, has brought a new dimension to international gold trading. COMEX enjoyed significant advantages owing to its close affinity with New York’s banks and financial institutions, which provided access to a worldwide clientele. COMEX later merged with the New York Mercantile Exchange (NYMEX) in 1994.

Experts like Dr. Richard S Appel of financialinsights.com observe that the markets have entered a secular Bull Market in both metals. Although he says that we are at present only in the initial stages. In his column, “The Great Debate: Trading vs. Long-term Gold Investing,” he writes, “Given the various reasons for the emergence of gold’s bull market, and the sequence of events that have transpired since its birth, I am confident that these bull markets will not end for several years, at minimum.”

He says that the primary financial benefits of trading in a confirmed bull market is that it often gives the trader a form of leverage, and the hope that one can garner larger profits than if he only bought and held. The added leverage has the potential to substantially increase one’s profits. For example, he says, “if a person purchases gold futures or gold call options they must only commit a small percentage of the underlying gold’s value to initiate the trade. Then, if prices move higher, the profits that result may be a multiple of those that would accrue if he owned the physical metal.”

Unfortunately, this can act as a double-edged sword if the trade, even for a short period, goes against the trader. And, in isolated situations they may be devastating, he adds. He further comments that in the case of futures contracts the person is not only liable for his committed margin, but also for all losses that may occur while he holds the contract.

The author is an expert in essays wiring services online in the field of marketing and operations management. He has been with the company for some years as a senior writer.

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Oil falls below $75 ahead of US jobs report
Oil prices fell below $75 a barrel Friday ahead of closely watched U.S. employment report that will inform traders…

Read more on Boston Herald

www.LiveWithOscar.com

Hello all, Some nice short setups today with broad market internal confirmation. Excellent trading environment to work in but not the easiest either. I hope you were able to capitalize on the move today. Matador

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Stocks Poised For Solid Gains After Revised GDP Data – U.S. Commentary
(RTTNews) – Stocks are likely to see notable strength in early trading on Friday, as the markets are digesting a smaller than expected downward revision to second quarter GDP growth. The major index futures are all in positive territory, with the Dow futures up by 62 points.

Read more on INO News