Three tips for day trading that all new traders need to hear. Day trading futures can be a momentous task if you go about it in the wrong way. In today's blog we will hopefully ease the learning curve a bit with our 3 day trading futures tips.
First up is being realistic, many new trades get into trading because they are looking for a Wolf of Wall Street type of life style. Now that type of money is possible but you will need to give it some time and learn the ropes before you expect yourself to be making that much money.
When we say be realistic it applies to subjects other then money, such as how long it could take you to become a proficient day trader or how many contracts you think you should be trading right out of the gate. Take your time and gain as much screen time before risking all that hard earned cash.
Secondly, you will need to create a trading plan. Many new traders look over this step and jump right into pressing buttons and losing lots of money. Don't be that trader, start off right with a trading plan and more importantly a trading plan that has been tested in SIM. When developing a trading plan be sure to create one that includes all aspects of trading, such as when to trade,how many contracts, what instruments are you trading etc etc.
Lastly is a solid education that will hopefully help speed up the learning curve. When looking for a education source make sure to find one that will provide adequate information and information that is kept up to-date. Also be sure to find a source that trades in a way that makes sense to you.
At Gorilla Futures we have a huge price action course that is comprised of 26 chapters and tons and tons of picture and video examples, on top of that we have a great community of traders that are here to support each other throughout the process.
When starting your trading journey be sure to start on the right foot for the best chance of success, if you have any questions or need help feel free to send us an email.