Trading Futures, options on futures and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. The lower the day trade margin, the higher the leverage and riskier the trade. Leverage can work for you as well as against you; it magnifies gains as well as losses. Past performance is not necessarily indicative of future results.
Learning how to successfully master trading can take a lot of hard work. In this three part series that I recorded of Infinity Futures as a “certified” trading coach, I cut to the nuts and bolts to create a Live Trading Challenge Plan that may just give traders the edge they may need to place in the top five. Of course, any and all principles of the material I covered could be used for a live account in creating a trading plan for oneself.
For more information on the upcoming or any future challenges, visit livetradingchallenge.com
Session 1 – Psychology of Trading
The Holy Grail of Trading
The contracts I will trade
The hours I will trade
Day Trading resources
Session 2 – Trend Trading
Strategy Trend Studies available with Infinity AT/Sierra charts
Gold Standard Setup walkthrough
Executing the Trade
Additional Technical’s to confirm trend/support/resistance
Session 3 – Trade Management
1 contract off, no loss setup
How many ticks am I trying to make each day?
How many trades do I plan to make per day?
How long do I plan to hold winners and losers?
My loss limit in ticks per trade and in total dollar loss per day?
What I will do after x number of losses in a row?
My strategy for increasing and decreasing my trading size?