Trading Futures for Dummies – Easy to Understand Live Trade
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Here we are with a trade taken on 1.17. I will try and lay this out similarly to some of my other dummy series videos. This one revolves around trading futures for dummies. This day was nothing exciting and just another one of the low volume days that we’ve seen a ton in the month of January.
There were a couple trades already to this point and nothing really exciting. I had seen about an even amount of losers and winners.
As always the first thing that I always do after analyzing the market and entering a trade is take the Fibonacci extensions to see where the trade can go. The first major area where everything lines up is the OB and the 61% Fibonacci extension. Our target is approximately 2 points away and that will yield $100 at 1 contract.
The other thing that I become aware of right away in this trade is the fact that the money line is acting as resistance and we will need a pop right through it or else we may be headed in the opposite direction of our trading target.
Yet another thing to note in this trade is the slowness of the movement. When we are finally beginning to break through the money line we’ve already been in the trade for 10 minutes. So, we are expecting to be in this trade for some time.
However, we have everything in our favor because of the fact that the market is moving to the upside for most of the morning. If you noticed when I scrolled back there was an attempt to the downside which failed. No shorts have worked in the market thus far.
The consolidating going on in both charts is typical of trades the last few weeks. I like to look for consolidation in both charts because it shows me that there is a move coming soon. The other thing that I noticed in the charts is the fact that all the bars were closing at the top on the 233 chart.
This is another trade where I score 2 points which is equivalent to $100 at1 contract. This is the safest way to trade because of the slow market movement. I hope you enjoyed my trading futures for dummies.
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how is this easy to understand, this is not for beginners
Liz, do you have any recommendations on learning strategy? Any good reads for a beginner? I am still trying to learn the platform im using x-trader. Do you have an opinion on platforms?
Hi Liz I notice in some of your videos you mention that you are involved I with teaching day trading and even provide mentoring of a sort. Do have a web site and where can I learn more about this?