I’m just starting my journey into trading. Been reading and paper trading for over a year. Doing this for something to do when I retire soon. Had some previous exposure to the lumber futures arena in my career and thus my interest in futures. Mostly interested in MES and ES. Been demo’ing Optimus Flow and loving it but I definitely have a ways to go before I go live. Hoping for some advice on what type of account and minimum balance would make sense and best way to advance into an active state. I have just under 2 years until I hit the eject button here and I can only trade in late afternoon or night. Thanks for any help and advice
Hello @Hogie9566 and welcome to the community forum.
I have been asked these questions many times, and each time I answer them differently, I always emphasize the same thing from a different angle. The most crucial thing in trading is size. You can throw any counterargument with any variable at me, and it will always come down to the size of trades.
Here are the additional things that may be of great help to you:
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Order Execution: become familiar with the rules of the game through market order execution type and then practice with Optimus Flow how to place limit, market, and stop orders. Knowing how to place orders is vital when you have to act fast, not only for potential profits of futures trading but also for risk management purposes (when things don’t go your way).
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Develop your strategy and stick to it! work and evolve your method, and see when it works and when it does not. Remember, any method can go through a sequence of profitable trades and a succession of losses. It is common to get into lackluster periods, and that is where the trader’s foul-up. They change methods, get frustrated, and start looking for the holy grail where one method will take them through every market season. Needless to say that those who engage in that will turn themselves into trading enthusiasts, not pros.
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Psychology: We can talk about trading psychology until the end of the decade and cover only a small portion of what the human brain goes through when it comes to trading psychology.
But, every topic of trading psychology will primarily address (in my opinion) the Default Response where instincts guide us in the opposite direction of what we should be doing. Sadly, human intuition is lacking (to say the least), where trading is a concern. Those who have traded long enough could attest to that. Your fight is almost against your DNA.
Always feel free to post questions here, just make sure the question is a thread unless it covers the same topic. I like to share my practical experience, and here, we don’t sugarcoat.
As you will learn more about trading, the more questions you will have, and hopefully everyone can chine in and share their experience.
don’t forget to read our blogs: https://optimusfutures.com/tradeblog/
Listen to Podcasts: https://optimusfutures.com/podcast/
Welcome to Optimus!
Best,
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
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