Started testing the waters in futures trading

[tbct_mt2]

So he told me to give a try for now even with small amounts only.

You must make hard decision to move out of your comfort zone but you must do another harder task, control yourself.

You can easily start with small amounts only to experience Future trading and your friend's signals but later you will have bigger challenge. It is not easy to control your emotion and greed. If you get good result from Future trading, you can think of allocating more fund for Future trading and in my opinion it is terrible if you do that.

Trading should never accounts for too big part of your capital and Future trading should be very small part of your trading capital.

If you won't get addicted to Future trading, it is not bad.

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[Strongkored]

I think it's not so good to trade based on trading signals even from your own colleagues, maybe it would be better if you learn directly from him about technical analysis so that in the end you can trade independently without depending on your friend's signals.
For small capital, it should be like that, starting with a small value until you are sure enough that you have the knowledge and mentality to accept all possibilities.

[ethereumhunter]

Futures trading is riskier than spot trading, especially if you don't have good analytical skills. But even so, you can continue learning more about trading. And if you learn more and understand how to trade well, you can make bigger profits. That way, you can trade using more money but still, use the money you can afford.

It's good if you can realize you still have shortcomings and want to keep using small capital while continuing to learn to trade. You will understand when you can increase the amount of trading capital and in the meantime, enjoy the process.

[Jody.Drummer]

I think it's not so good to trade based on trading signals even from your own colleagues, maybe it would be better if you learn directly from him about technical analysis so that in the end you can trade independently without depending on your friend's signals.
For small capital, it should be like that, starting with a small value until you are sure enough that you have the knowledge and mentality to accept all possibilities.

Yes, I agree with you that using trading signals, even those that we get from friends who we have known and are familiar with, are not much better than the trades we make with the results of our own analysis. But while going with what he's doing, OP can learn slowly for the future not depending on the signal he receives from his colleague.
When we use other people's signals, we sometimes don't know what we are doing, what was the reason when we started the entry, whether it was seen from the signs that appeared on the price chart or the indicators we used. And also do we have to keep waiting until we find a signal again every time we are going to trade?

[Woodie]

After being hesitant for years, I finally got out of my comfort zone and started testing the waters in futures trading.

I have several asian friends that trade these assets and I have always wanted to trade these too, but they just don't tickle my fancy to be honest  Out of curiosity do these have a community where people discuss them or something, just to see how much success comes with trading futures... Btw crypto and currencies are by far easier to trade, for example Euro /USD is among the easiest to trade and anybody should come out profitable if you have a good strategy.

I had to admit though. I don't have any TA skills yet to make my own decisions.

They say the trading markets only has 1% of successful traders and if you want to be part of the winning team better have an edge over the markets with a working strategy, invest in sharpening your skills and you won't need to guess, it will all be mechanical trading .

[pawanjain]

After being hesitant for years, I finally got out of my comfort zone and started testing the waters in futures trading. I had to admit though. I don't have any TA skills yet to make my own decisions.

My good friend from Poland who is now based in Cebu, has his own trading signal. So he told me to give a try for now even with small amounts only.



I'm fully aware of the risks though because it's much more riskier than the traditional spot trading. As of now, I got a bunch of wins and losses in my trades where most of the declarations are long due to the mini bull run that we are experiencing as of today.

I am not expecting much results whether wins or losses, because I am still testing the waters. But still it's better for me to have a better understanding of the chart so that I could make my own decisions on the target amounts of a specific pairing to take profit and stop loss.

Whether I take profit or got liquidated, it's worth the experience. But for now, I am not yet ready to go big on my trading capital because I need to be emotionally ready especially when things are going southward.

It's good that you are starting it small by trading with small amounts.
All you have to do is keep doing what you are and get better at it  Once you become really good at it you will be able to control your emotions.
If you are able to control your emotions at trading then you have already won half of the trade.
The rest half depends on your analysis which I am sure you will be good at once you do enough trades.

[AicecreaME]

A good start.

It's good to know that you know what you needed to do in order to be profitable in futures trading. You're on the right path, testing out options you see available with a small amount of money to see the results. Though, trading signals from someone you know might not be the best thing, you just got out from your comfort zone as you say but relying on someone's technical analysis won't let you grow.

So you need to stop that and make your own technical analysis. Don't rush yourself, like expecting to have a very good technical analysis when you're just a newbie. It takes time, you have to be emotional, mentally, and financially prepared before proceeding in a big capital in trading.

[SirLancelot]

A good start.

It's good to know that you know what you needed to do in order to be profitable in futures trading. You're on the right path, testing out options you see available with a small amount of money to see the results. Though, trading signals from someone you know might not be the best thing, you just got out from your comfort zone as you say but relying on someone's technical analysis won't let you grow.

So you need to stop that and make your own technical analysis. Don't rush yourself, like expecting to have a very good technical analysis when you're just a newbie. It takes time, you have to be emotional, mentally, and financially prepared before proceeding in a big capital in trading.

No, he was still a beginner and there is still no assurance if he will be profitable in the long run or not but whatever the results would be, that's okay. What important for now is he get out of his comfort zone and try something new. Post like this are great to encourage others who are scared in futures trading to do the same.

I think physically prepared is also needed other than the three that you mentioned there because once we suffered from them it also have an impact to our physical health. Did you notice that when we are stressed, we feel tired? But we can combat it when doing physical exercise regularly and eating healthy foods which can also improve how we think and helps normalize our emotions.

[shinratensei_]

with futures trading I think it's guaranteed that eventually things will go south it's really different with traditional spot trading honestly.
you will definitely facing many loses along the way but you also could score tremendous profits even in the middle of bearish like right now.
the most important thing is that you know the strategy through learning and never make decision when your mind is clouded, always trade with logic not emotionally.
you also shouldn't just bet all your money for future trading, only use the money that you could afford to lose, your strategy of testing the water first until you're really ready is actually good for you.
at last you wouldn't just get massive lost just because overconfidence.

[FUCKBSVFUCK]

The short term or short term trading for futures trading has its own risks to take. But the risk is different from those that are used for other trading, futures trading has a higher risk of failure, and sometimes bad decisions.   
 
But what matters is that your decision is your chance to make

[carlfebz2]

A good start.

It's good to know that you know what you needed to do in order to be profitable in futures trading. You're on the right path, testing out options you see available with a small amount of money to see the results. Though, trading signals from someone you know might not be the best thing, you just got out from your comfort zone as you say but relying on someone's technical analysis won't let you grow.

So you need to stop that and make your own technical analysis. Don't rush yourself, like expecting to have a very good technical analysis when you're just a newbie. It takes time, you have to be emotional, mentally, and financially prepared before proceeding in a big capital in trading.

No, he was still a beginner and there is still no assurance if he will be profitable in the long run or not but whatever the results would be, that's okay. What important for now is he get out of his comfort zone and try something new. Post like this are great to encourage others who are scared in futures trading to do the same.

I think physically prepared is also needed other than the three that you mentioned there because once we suffered from them it also have an impact to our physical health. Did you notice that when we are stressed, we feel tired? But we can combat it when doing physical exercise regularly and eating healthy foods which can also improve how we think and helps normalize our emotions.

When you do know someone or look into some screen shots seeing +100% +1000% or more then as a newbie you would really be having those impressions that it would really be just that simple if ever you would decide to engage with it. Some might be having that beginners luck but some would really be able to taste on whats the reality of futures.

This is why its really always been that suggestable or recommended that you should really be starting with spot trading on which you could really be able to make yourself practice on how the market moves.
Using up high leverage would really be always that risky, even on veteran traders wont really be giving out assurance that they would be able to play along with these kind of margins
which is something that i cant able to bare on myself.

If you do test out just because of curiosity then its up to you, but make it sure that you wont really be burning up that much cash or capital.