1989 Futures Trading Training Video You Should Watch

Pay attention to the Taking Losses and Taking Profits lessons.

Key Takeaways for Futures Traders from the Seminar

Choosing the Right Pit

  • Open Interest: Trade in markets with high open interest for better liquidity and profitability.
  • Volatility: High volatility increases trade opportunities.
  • Positioning: Stand near experienced traders or at the top of the pit for better visibility and execution.

Getting Trades

  • Be Aggressive: Bid and offer confidently to attract brokers' attention.
  • Transition Trading: React quickly to market shifts (bids turning to offers and vice versa).
  • Spread Trading: Monitor related markets (e.g., Yen, oil) to make informed bids and offers.

Taking Losses

  • Low Puke Point: Cut losses quickly—don’t let a bad position deteriorate.
  • Mechanical Approach: Consider a one-tick loss rule to manage risk, especially as a beginner.
  • Strategic Losses: Exit trades in ways that could create future opportunities (e.g., selling to brokers who may return the favor).

Taking Profits

  • Add to Winners: Instead of taking small gains, scale into winning positions when appropriate.
  • Fight Human Nature: Avoid cutting winners short and letting losers run—evaluate each trade objectively.

Psychological & Strategic Insights

  • Pit Noise: Loud bidding often signals sentiment—use it to assess market direction.
  • Honor & Integrity: Maintain ethical trading practices to build trust and long-term success.
  • Size Matters: Trading larger sizes can improve fills and profits but requires discipline.

General Advice

  • Experience: The best lessons come from time in the pit and real trading exposure.
  • Adaptability: Adjust strategies based on market conditions, not rigid rules.
  • Relationships: Build strong professional connections while maintaining integrity.

These insights highlight the importance of positioning, discipline, and adaptability in floor trading.

1989 Futures Trading Training Video You Should Watch

RESOURCES:
            
▶️ Free "Futures Foundations Course"             

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