#tipsandtricks #future #FutureTarding #futurestraders
UnderstandtheMarketDeeply
Know what you're trading (e.g., commodities, indices, currencies, interest rates).
Understand contract specifications: tick size, margin, expiration, and delivery terms.
Study how your asset reacts to news, economic data, and global events.
#Use a Solid Trading Plan
Define your entry/exit rules, position size, and risk tolerance.
Stick to your strategy—don’t trade on emotion or instinct alone.
Have a checklist before entering any trade.
Manage Risk Relentlessly
Risk only 1–2% of your capital per trade.
Always use stop-loss orders.
Don't add to losing positions unless it’s part of a well-tested scaling strategy.
4. Master Technical Analysis
Learn to read charts, identify trends, and recognize key levels (support/resistance).
Use indicators (like RSI, MACD, Bollinger Bands) with purpose—don’t overload your chart.
Candlestick patterns can be powerful confirmations.
5. Respect Timeframes
Choose a timeframe that matches your personality (scalper, day trader, swing trader).
Use multiple timeframes for confirmation—e.g., trend on daily, entry on 15-min.
6. Use Technology to Your Advantage
Set alerts and automate trades with conditional orders.
Backtest your strategy using historical data.
Use trading journals or tools (like Edgewonk or TraderSync) to track performance.
7. Build Mental Discipline
Control FOMO (fear of missing out) and revenge trading.
Take breaks after losing streaks.
Treat trading like a business, not gambling.
8. Keep a Trade Journal
Record every trade: reason for entry, outcome, emotion, and lesson.
Review regularly to find patterns in your behavior and refine your strategy.
9. Learn from Pros, but Be You
Follow experienced traders, but don’t blindly copy.
What works for them may not fit your style or risk tolerance.
Use mentors, books, podcasts, and simulations to grow.
10. Prepare for Drawdowns
Even great traders go through losing periods.
Keep extra capital on hand and reduce position size when underperforming.