Author: Walsh Agency, Inc. ( j o h n @ w a l s h a g e n c y i n c . c o m )

The sole purpose of this article is to help you imporve your trading by learning what hundreds of experienced futures brokers and traders have reported to be their rules and strategies for success.

First, an important warning: Following these rules will not guarantee your success trading futures. However, it is my belief that following the rules and suggestions in this course will increase the likelihood of your trading successfully. I have come to this conclusion after having studied, observed, listened to, and surveyed hundreds of futures brokers and traders for for a very long time.

It would be reasonable if you were to ask why any broker or trader would want to share his or her best “trading secrets.” I am not absolutely certain that the respondents have submitted all their best ideas. However, every trading rule survey I’ve ever conducted has produced the same basic rules and suggestions. Brokers and traders who applied these findings have told me that following these rules and strategies improved their trading.

Therefore, I am reasonably certain that the ideas presented here are fundamentally sound. Try them yourself. Paper trade two separate accounts for several months. Use the rules in this article for one account; don’t use them for the other. Compare the results. Following stringent guidelines may not be your idea of trading, but I believe that when you see the results, you’ll realize the benefits of always following rules.

In addition, the only trading rules and suggestions included here are those that are representative of a majority of the responses from experienced brokers and traders, including seasoned floor traders. Occasionally respondents do contradict or disagree with each other; the lesson here is that there are many different ways to make (and lose) money trading futures. No unusual strategies or rules that may only work for a few brokers or traders are reported here.

NOTE: For the sake of clarity and readability the results from the surveys have been compiled, made into first person statements, and italicized.

The thousands of answers from the surveys fall into a few major categories, which are organized into the following topics. (click on topic…)

Advice for Beginners

Use a Trading Plan

Discipline

Money Management

Technical Tools

Psychology of Trading

Basic Training for Futures Traders

Why Most Futures Traders Lose Money

As you go through this material, it is suggested that you study only one chapter per session. People who have reviewed this course have reported there is much to absorb, and each concept may require several days of thought. If you think about each subject for a few days, you’ll have a better chance of assimilating the ideas objectively with an even temperament.

How you accept and employ these rules and ideas often depends on your frame of mind at the time you read them. I do know from my research that commodity traders and brokers can be moody. It’s best not to go over this material if you’re agitated or in a bad or euphoric mood.

Many of your current beliefs about trading futures will undoubtedly be challenged in this course. Therefore, it is important that you are open-minded and objective as you ponder these rules and suggestions. Studying futures as well as trading futures markets always requires a dispassionate, unemotional approach.

The “fun quizzes” at the end of each chapter are designed to help you understand the survey findings and perhaps yourself, a little better. The answer is not always included in the chapter that precedes it. There are a few instances where you will be required to use deductive reasoning.

The questions and answers are meant to reinforce the principles of success that are being presented. However, doing well on these little “exercises” doesn’t indicate your ability to actually follow through with these suggestions. Intellectual understanding is one thing, while real change in behavior is something else.

NOTE: In this course, the words “futures” and “commodities” are used interchangeably.

Disclaimer:

The information in this taken from sources believed to be reliable and intented for purpose of information and education only, and is not guranteed for its accuracy, completenes, nor any trading results. Trading involves the risk of loss. People can and do lose money trading and is not for everyone.

Acknowledgements:

This article would not have been produced without the strategies, suggestions, rules, insights and experience of hundreds of trading brokers who generously shared their time and ideas. Thanks you for your help. ( Email: J a c k S @ N Y B O T . c o m )

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