Part 2: Successful Futures Trading Means Taking Losses In Your Stride
By Ultimate Trading
Stay Flexible in your Futures Trading Career
Staying flexible while futures trading requires that you stay detached
and unemotional about your trades. No matter how strongly you feel about
your analysis of your futures trading, you have to be willing to change
that opinion and act quickly if necessary.
To be successful in futures trading, you must realize that bad trades
reduce the gains made from past trades and potential gains from future
trades. Successful traders change their minds quickly and easily, and
are not concerned about whether they were right or wrong. Theyre
concerned with maximizing their gains and minimizing their losses and
to minimize losses, they have to be willing to quickly change their minds.
Remember: the more flexible you are, the more successful you will be at
In Futures Trading you must Look Before you Leap
One of the most common mistakes you can make in futures trading is to
trade when you see an opportunity that you think might be too good to
Jumping into a position based on a hunch, or on the belief that you may
be missing an opportunity while futures trading, is no different than
gambling. Almost every investor at one time or another has felt a rush
of greed or enthusiasm for a trade based solely on the desire not to
miss out on a great opportunity that might be available.
You have to practice self-discipline to be a success at futures trading.
Apply skill and logic to your futures trading. Learn every day, and use
what you know to make intelligent decisions on every trade. Successful
traders dont worry about missing out they focus on making intelligent
Dont Passively Follow Expert Advice to be Successful in Futures Trading
Blindly following the investment advice of a broker or analyst is foolish
and self-destructive. Oftentimes, the brokers self-interest is completely
different from yours, because the broker gets paid when you are futures
trading, whether its a good trade or not. He or she wants you to trade.
Analysts may have inside knowledge or years worth of experience, but in
the end their opinions on the markets are just that opinions. You must
take responsibility for your trades and therefore your money to be successful
at futures trading. Learn, stay focused and disciplined, and make your
own judgments about futures trading.
To be Successful at futures trading, you cant be Affected by Mood Swings
Many involved in futures trading get excited when their positions are
making money, and they increase their stake in the position. Then, when
the price goes down, they panic and sell. Emotional traders are affected
by the highs and lows of gains and losses, and fail to stick to their
plans and their strategies.
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