Started testing the waters in futures trading

carlfebz2

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Quote from: SirLancelot on February 09, 2023, 05:28:03 PM

Quote from: AicecreaME on February 09, 2023, 10:44:47 AM

A good start.

It's good to know that you know what you needed to do in order to be profitable in futures trading. You're on the right path, testing out options you see available with a small amount of money to see the results. Though, trading signals from someone you know might not be the best thing, you just got out from your comfort zone as you say but relying on someone's technical analysis won't let you grow.

So you need to stop that and make your own technical analysis. Don't rush yourself, like expecting to have a very good technical analysis when you're just a newbie. It takes time, you have to be emotional, mentally, and financially prepared before proceeding in a big capital in trading.

No, he was still a beginner and there is still no assurance if he will be profitable in the long run or not but whatever the results would be, that's okay. What important for now is he get out of his comfort zone and try something new. Post like this are great to encourage others who are scared in futures trading to do the same.

I think physically prepared is also needed other than the three that you mentioned there because once we suffered from them it also have an impact to our physical health. Did you notice that when we are stressed, we feel tired? But we can combat it when doing physical exercise regularly and eating healthy foods which can also improve how we think and helps normalize our emotions.

When you do know someone or look into some screen shots seeing +100% +1000% or more then as a newbie you would really be having those impressions that it would really be just that simple if ever you would decide to engage with it. Some might be having that beginners luck but some would really be able to taste on whats the reality of futures.

This is why its really always been that suggestable or recommended that you should really be starting with spot trading on which you could really be able to make yourself practice on how the market moves.
Using up high leverage would really be always that risky, even on veteran traders wont really be giving out assurance that they would be able to play along with these kind of margins
which is something that i cant able to bare on myself.

If you do test out just because of curiosity then its up to you, but make it sure that you wont really be burning up that much cash or capital. Grin

FUCKBSVFUCK

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The short term or short term trading for futures trading has its own risks to take. But the risk is different from those that are used for other trading, futures trading has a higher risk of failure, and sometimes bad decisions.

But what matters is that your decision is your chance to make

shinratensei_

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with futures trading I think it's guaranteed that eventually things will go south it's really different with traditional spot trading honestly.
you will definitely facing many loses along the way but you also could score tremendous profits even in the middle of bearish like right now.
the most important thing is that you know the strategy through learning and never make decision when your mind is clouded, always trade with logic not emotionally.
you also shouldn't just bet all your money for future trading, only use the money that you could afford to lose, your strategy of testing the water first until you're really ready is actually good for you.
at last you wouldn't just get massive lost just because overconfidence.

SirLancelot

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Quote from: AicecreaME on February 09, 2023, 10:44:47 AM

A good start.

It's good to know that you know what you needed to do in order to be profitable in futures trading. You're on the right path, testing out options you see available with a small amount of money to see the results. Though, trading signals from someone you know might not be the best thing, you just got out from your comfort zone as you say but relying on someone's technical analysis won't let you grow.

So you need to stop that and make your own technical analysis. Don't rush yourself, like expecting to have a very good technical analysis when you're just a newbie. It takes time, you have to be emotional, mentally, and financially prepared before proceeding in a big capital in trading.

No, he was still a beginner and there is still no assurance if he will be profitable in the long run or not but whatever the results would be, that's okay. What important for now is he get out of his comfort zone and try something new. Post like this are great to encourage others who are scared in futures trading to do the same.

I think physically prepared is also needed other than the three that you mentioned there because once we suffered from them it also have an impact to our physical health. Did you notice that when we are stressed, we feel tired? But we can combat it when doing physical exercise regularly and eating healthy foods which can also improve how we think and helps normalize our emotions.

AicecreaME

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A good start.

It's good to know that you know what you needed to do in order to be profitable in futures trading. You're on the right path, testing out options you see available with a small amount of money to see the results. Though, trading signals from someone you know might not be the best thing, you just got out from your comfort zone as you say but relying on someone's technical analysis won't let you grow.

So you need to stop that and make your own technical analysis. Don't rush yourself, like expecting to have a very good technical analysis when you're just a newbie. It takes time, you have to be emotional, mentally, and financially prepared before proceeding in a big capital in trading.

pawanjain

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Quote from: cheezcarls on February 08, 2023, 06:17:27 AM

After being hesitant for years, I finally got out of my comfort zone and started testing the waters in futures trading. I had to admit though. I don't have any TA skills yet to make my own decisions.

My good friend from Poland who is now based in Cebu, has his own trading signal. So he told me to give a try for now even with small amounts only.

I'm fully aware of the risks though because it's much more riskier than the traditional spot trading. As of now, I got a bunch of wins and losses in my trades where most of the declarations are long due to the mini bull run that we are experiencing as of today.

I am not expecting much results whether wins or losses, because I am still testing the waters. But still it's better for me to have a better understanding of the chart so that I could make my own decisions on the target amounts of a specific pairing to take profit and stop loss.

Whether I take profit or got liquidated, it's worth the experience. But for now, I am not yet ready to go big on my trading capital because I need to be emotionally ready especially when things are going southward.

It's good that you are starting it small by trading with small amounts.
All you have to do is keep doing what you are and get better at it Once you become really good at it you will be able to control your emotions.
If you are able to control your emotions at trading then you have already won half of the trade.
The rest half depends on your analysis which I am sure you will be good at once you do enough trades.

Woodie

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Quote from: cheezcarls on February 08, 2023, 06:17:27 AM

After being hesitant for years, I finally got out of my comfort zone and started testing the waters in futures trading.

I have several asian friends that trade these assets and I have always wanted to trade these too, but they just don't tickle my fancy to be honest Roll Eyes

Out of curiosity do these have a community where people discuss them or something, just to see how much success comes with trading futures... Btw crypto and currencies are by far easier to trade, for example Euro /USD is among the easiest to trade and anybody should come out profitable if you have a good strategy.

Quote from: cheezcarls on February 08, 2023, 06:17:27 AM

I had to admit though. I don't have any TA skills yet to make my own decisions.

They say the trading markets only has 1% of successful traders and if you want to be part of the winning team better have an edge over the markets with a working strategy, invest in sharpening your skills and you won't need to guess, it will all be mechanical trading

.

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Quote from: Strongkored on February 09, 2023, 06:56:34 AM

I think it's not so good to trade based on trading signals even from your own colleagues, maybe it would be better if you learn directly from him about technical analysis so that in the end you can trade independently without depending on your friend's signals.
For small capital, it should be like that, starting with a small value until you are sure enough that you have the knowledge and mentality to accept all possibilities.

Yes, I agree with you that using trading signals, even those that we get from friends who we have known and are familiar with, are not much better than the trades we make with the results of our own analysis. But while going with what he's doing, OP can learn slowly for the future not depending on the signal he receives from his colleague.
When we use other people's signals, we sometimes don't know what we are doing, what was the reason when we started the entry, whether it was seen from the signs that appeared on the price chart or the indicators we used. And also do we have to keep waiting until we find a signal again every time we are going to trade?

ethereumhunter

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Futures trading is riskier than spot trading, especially if you don't have good analytical skills. But even so, you can continue learning more about trading. And if you learn more and understand how to trade well, you can make bigger profits. That way, you can trade using more money but still, use the money you can afford.

It's good if you can realize you still have shortcomings and want to keep using small capital while continuing to learn to trade. You will understand when you can increase the amount of trading capital and in the meantime, enjoy the process.

Strongkored

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I think it's not so good to trade based on trading signals even from your own colleagues, maybe it would be better if you learn directly from him about technical analysis so that in the end you can trade independently without depending on your friend's signals.
For small capital, it should be like that, starting with a small value until you are sure enough that you have the knowledge and mentality to accept all possibilities.

tbct_mt2

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Quote from: cheezcarls on February 08, 2023, 06:17:27 AM

So he told me to give a try for now even with small amounts only.

You must make hard decision to move out of your comfort zone but you must do another harder task, control yourself.

You can easily start with small amounts only to experience Future trading and your friend's signals but later you will have bigger challenge. It is not easy to control your emotion and greed. If you get good result from Future trading, you can think of allocating more fund for Future trading and in my opinion it is terrible if you do that.

Trading should never accounts for too big part of your capital and Future trading should be very small part of your trading capital.

If you won't get addicted to Future trading, it is not bad.

slaman29

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Good luck, and be careful. And I say luck because that is literally what you need to be successful;)

I hate to say it, but I have to bring up a statistic again, that traders don't "trade to learn". Just as you don't play roulette to learn about gambling.

And I know it doesn't make sense to read that at first, because of course, you learn by doing.

But the person who is making trades or doing new trades to learn about a feature, is the same as the guy playing roulette for the first time to learn about the different ways to bet on them. Once you've understood all these things, you have nothing to learn.

So every trade you make after understanding, it's no longer for learning.

Jatiluhung

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using small capital and installing small margins to learn in futures trading is indeed better. I did it too. but in the end I realized that I was not ready for it. because I really still have to learn the basics of doing analysis. Be it technical or fundamental analysis. Futures trading has more risks and opportunities than spot trading. maybe for those who are proficient in doing analysis doing spot trading is quite easy so they continue with futures trading. good luck.

jackg

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Yeah I feel a lot på signal groups that provided good signals used to get paid to add enough bad that they could heighten the highest bidder's pump and dump scheme.

If there's a strategy the friend taught your or if the signals are coming from a strategy (such as an indicator - preferably a few together - or support and resistance) then it's a lot less risky.

Compared to a lot of products offered in crypto, I don't think futures trading is the way to go anymore.

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Quote from: cheezcarls on February 08, 2023, 06:17:27 AM

I'm fully aware of the risks though because it's much more riskier than the traditional spot trading. As of now, I got a bunch of wins and losses in my trades where most of the declarations are long due to the mini bull run that we are experiencing as of today.

Well, it's petty simple then.
Add your current revenues in case you would liquidate all your assets, I'm pretty sure a portfolio manager app could do that in a second and then compare with the results of purely holding Bitcoin. If your gains in $ are far larger than what you could have gained by simply holding BTC, or if with the alts you hold you could buy more coins then it means you did better than just holding. The problem in this that you have to look for is that the majority of your gains shouldn't be sourced from one single coin because that means you've simply gambled and one of the dark horses you picked won.

That being said, trading signals, meh! It's more like those old pump and dumps groups, really hard next to impossible to trust one with more than peanuts.

Quote from: Hamphser on February 08, 2023, 04:29:49 PM

You should test out waters self first on spot trading and it would be ideal on that way on which you are really that able to make enhance of your TA skills and i would really say that this would really be much better

Enhance the skills of seeing lines and dots where there are none to be seen? A bit of weed would do the same! Wink

I still can't figure out why everybody is so focused on this TA when every damn week we have a move that breaks all previous rules and charts.

Scripture

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Quote from: cheezcarls on February 08, 2023, 06:17:27 AM

I am not expecting much results whether wins or losses, because I am still testing the waters. But still it's better for me to have a better understanding of the chart so that I could make my own decisions on the target amounts of a specific pairing to take profit and stop loss.

That's a good way to start your trading journey, there should be no expectation because you are still not good at it.
Always have that cut loss level to avoid being liquidated because future moves faster than you think and if you miss to set it up, you will be liquidated instantly. There's a good demand for futures trading recently even if its more risky compare to spot trading, some trader are very aggressive nowadays, I hope you won't be liquidated in futures.

carlfebz2

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Quote from: kamvreto on February 08, 2023, 06:03:28 PM

Your decision to keep doing the trial and not to vary the trading capital you made was the right decision. because you are in a high-risk market with rapid fluctuations. Futures trading requires the skill to read the market well and be able to control emotions because the market cannot be controlled. Sometimes some predictions don't work out the way they should, so having a backup plan helps.
and the most important thing in futures trading is Using leverage wisely, Leverage can increase the potential for profit, but also increase the potential for loss. Therefore, it is very important to use leverage wisely and limit risks.

Testing out waters with small amounts specially on futures isnt a bad move and since you are aware with the risk then go ahead and test it out.Just make it sure that on the time that you do see that you are making

some profits then dont tend to go all in or put up huge capital on futures as long you dont able to grasps with the risk involved into it.If you dont like to go with spot and really that like on doing futures
then go ahead.Just make sure that you do able to withstand with those leverage and liquidation point or prices.

This isnt similar to spot that you could still able to hold your position on the time that the price would be negative into your entry point.

kamvreto

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Your decision to keep doing the trial and not to vary the trading capital you made was the right decision. because you are in a high-risk market with rapid fluctuations. Futures trading requires the skill to read the market well and be able to control emotions because the market cannot be controlled. Sometimes some predictions don't work out the way they should, so having a backup plan helps.
and the most important thing in futures trading is Using leverage wisely, Leverage can increase the potential for profit, but also increase the potential for loss. Therefore, it is very important to use leverage wisely and limit risks.

crzy

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Futures can be more rewarding if you have your analysis ready, but since someone is guiding you I expect that he gives you the right advices and didn’t force you to do futures without telling you his own analysis. Learn more, and explore more about trading and futures, this can be a good source of income if you have good trades from your strategy. Be thankful that you have a mentor like that, though be careful with futures trading its too risky for a beginners.

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Quote from: RockBell on February 08, 2023, 03:23:30 PM

Futures trading is one of the things I dread the most when it comes to trading. If I'm not holding, the spot is risk-free compared to the futures, where you can lose a lot of money, but you gain experience when you lose money because one important fact about trading is that you will undoubtedly lose money, but I'll choose either spot or hold personally. it really difficult to what will happen next in the market.

If you do not know well about trading then you will not get good results in any market. Futures trading is undoubtedly super risky, the slightest mistake can pay a huge price. Therefore, not knowing well about futures trading, futures trading can be a suicidal decision, which can washout the trader's trading account instantly.

Last year we have experienced some incidents in the crypto market which show that spot trading can also lead to unimaginable losses.

Johnyz

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You’re doing good to test the water first before trading with Big money, the faster way to learn is to experience it.

Following the advice of you friend can still be ok at your early stage, as long as you still analyze his advices then you can be good. Know that trading is very risky regardless of your approach, so stay focus and continue to learn, this is a long journey and don’t expect profit right away because you’re still on the learning phase.

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I remember early days when bitmex started and they had a demo and I used it a bit, and I have to say it wasn't as good as I imagined it would be and it was a bad result for me generally speaking. On the other hand I tried the real thing as well for a while, with very small amounts like 100 bucks of course, but the results weren't as bad as the test, and yet it ended with bad result because of my bad management. I could have profited from it if I was more careful but I seen that investment as just a test and that is mostly the reason. I would say its really not an easy way to make money and not my cup of tea.

goaldigger

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Futures is very risky and its good to have someone who can guide you while you are still learning the process. Just continue to learn and time will come that you can have your own strategy in trading, just make sure to set up your cut loss price and your target price so you won’t get liquidated. Technical analysis are important in trading, focus on this as well because trading is very tricky, don’t put too much emotion as well to avoid any bad decisions.

Issa56

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Instead of you testing how to trade futures with trading signals, why don't you learn how to do your analysis yourself and test your trading skills, since your friend is giving you signals, I think it will be better if you just ask him to teach you how you can learn about technical analysis. You are trading with just little amounts currently, will you still be depending on your friend for signal when you deposit huge amount of money and you want to start trading, I don't think you should trust anyone with your money, the best thing is to learn how to trade yourself.

Hamphser

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Quote from: cheezcarls on February 08, 2023, 06:17:27 AM

Whether I take profit or got liquidated, it's worth the experience. But for now, I am not yet ready to go big on my trading capital because I need to be emotionally ready especially when things are going southward.

You should test out waters self first on spot trading and it would be ideal on that way on which you are really that able to make enhance of your TA skills and i would really say that this would really be much better
rather than making yourself on testing on futures which i do consider on very risky move to be made specially when you are just starting up.I could say because i have done on the same path too but since leverage is really way too big then it could really make your emotions been mainly played for this particular time unlike when you do spot which you wouldnt mind on being liquidated since you could be able to hold your
position for too long if in case the price hadnt go on what you are expecting.

Tytanowy Janusz

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Quote from: cheezcarls on February 08, 2023, 06:17:27 AM

Whether I take profit or got liquidated, it's worth the experience. But for now, I am not yet ready to go big on my trading capital because I need to be emotionally ready especially when things are going southward.

Each time you open a trade, put a stoploss few dollars about your liquidation price because liquidation is much more expensive than regular position close. It will save you a lot in a long run. Especially if you trade with high leverage.

Remember that even if you are successful for weeks, does not mean you are good at trading and can go crazy with big bets. Some strategies works until market change its dynamic which can happened after weeks/months. I know people that double/tripled portfolio in few months just to go bust right after.

RockBell

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Futures trading is one of the things I dread the most when it comes to trading. If I'm not holding, the spot is risk-free compared to the futures, where you can lose a lot of money, but you gain experience when you lose money because one important fact about trading is that you will undoubtedly lose money, but I'll choose either spot or hold personally. it really difficult to what will happen next in the market.

boyptc

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What can you say about your friend's signal? Is that really working and helped you a lot or it's just the same as guessing a trade because it's inaccurate?

Well, first, congratulations for trying it out. I've got no balls in doing it again because I don't want to experience the same burn that I've taken when I did it before.

Just as what they say, you've get to learn more about analysis like TA, fundamental and the other strategy.

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I also suggest to my friend to test the market through futures trading. I told him he could get into the bitcoin market right now with less than $1 while studying bitcoin movements and he finally gave it a go with $22 and less than $1 to buy.

I advised him to enter during yesterday's correction and got his buy price at $22.7xx and when it dropped further down, he decided to buy again, which made his entry buy price lower than his previous entry buy price.

And if you want to be able to trade well, you have to learn about market analysis to enter the market when the market is being corrected.

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Quote from: cheezcarls on February 08, 2023, 06:17:27 AM

My good friend from Poland who is now based in Cebu, has his own trading signal. So he told me to give a try for now even with small amounts only.

Learn trading yourself. If not because you have good risk management, trading signals would possibly have failed you. Trading signals are scam.

But be very careful and I can recommend you averaging, or just use low amount of money to trade because trading is very risky.

cheezcarls

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After being hesitant for years, I finally got out of my comfort zone and started testing the waters in futures trading. I had to admit though. I don't have any TA skills yet to make my own decisions.

My good friend from Poland who is now based in Cebu, has his own trading signal. So he told me to give a try for now even with small amounts only.

I'm fully aware of the risks though because it's much more riskier than the traditional spot trading. As of now, I got a bunch of wins and losses in my trades where most of the declarations are long due to the mini bull run that we are experiencing as of today.

I am not expecting much results whether wins or losses, because I am still testing the waters. But still it's better for me to have a better understanding of the chart so that I could make my own decisions on the target amounts of a specific pairing to take profit and stop loss.

Whether I take profit or got liquidated, it's worth the experience. But for now, I am not yet ready to go big on my trading capital because I need to be emotionally ready especially when things are going southward.

Topic: Started testing the waters in futures trading (Read 154 times)