Why Trading Futures is a Good Place to Start and How the Online TRADEPRO Community Can Help
Written by: George Papazov, founder and CEO of TRADEPRO Academy
The changing economic conditions affecting workers across the world in the wake of COVID-19 has made adding additional revenue sources more important than ever. From content creation on YouTube to selling products on Amazon, people are looking for new ways to generate income. If you’re looking for a new way to make money with just two to three hours of work per day, day trading futures may be for you.
Unlike stock trading, futures allow you the ability to trade the shorter-term momentum and to start and finish the day in cash. This allows you to sleep easy at night, knowing that an event overseas won’t affect your financial position by the morning.
Learning the craft of successful day trading is no easy feat. But, after more than 10 years in the industry and teaching thousands of day traders, I think it’s actually much simpler than many people think. I have seen people from all walks of life succeed as day traders. You can start small, in addition to working a full-time job. Becoming a day trader can be done around any schedule. The key to success is starting small and scaling up as you go. As your comfort level increases, your account size can increase along with it.
Futures trading, unlike stocks, are a contract between a buyer and seller over an agreed price for a future date. Hence the name futures. With futures, the object is to sell for a profit before the contract expires. By trading futures instead of stocks, you are working within a set period of time, which means you don’t need to be constantly looking over your futures in order to check whether prices have changed or not. In addition, futures trading requires a fraction of the capital to buy stocks and can outperform the gains.
The biggest thing to remember is to constantly focus on managing your risk in the markets, versus trying to chase gains. Professional traders are risk managers first. While missing a day of watching your futures isn’t detrimental to your profit potential, you need to keep track of your futures trades in the short and long-term as well as overall market news and developments.
Futures are easier to stay on top of than stocks because you are betting on the market as a whole versus having to study every stock company on an exchange. For someone working a full-time job, futures are a way to start day trading with low risk. By learning to trade futures, you can take advantage of massive market moving events, even during market crashes and downturns.
Here are some top considerations for futures traders:
- Futures allow traders to start with a very small account and scale up as their performance increases
- Significant returns can be generated with the right trading plan and risk management approach
- Futures provide you a great deal of leverage, but that does not mean you should use it all and max out your account buying power
- It’s important that you never max out your leverage, martingale, or double the stakes. Forgetting this rule can end up leading to a messy crash and burn.
- The best way to achieve success with futures is to start small, set achievable goals and scale up as you reach them.
- You can learn how to be consistent and successful with the right training and community of traders to help. If you want to start trading futures, it’s important to surround yourself with people who have succeeded already
- TRADEPRO Academy teaches you how to use order flow analysis like professional traders.
Futures can provide you another working from home career opportunity if you follow the rules and for those working in full-time jobs, can be a great way to add some extra income.
George Papazov founded TRADEPRO Academy in 2012 Papazov to inspire, educate and empower at-home traders and investors. A self-made millionaire and entrepreneur, Papazov’s self-published book Path to Profit: A Trader’s Journal reached Amazon bestseller lists. With seven years of work for a major international bank he is now an industry-leader in trading currencies, stocks, options and futures. Papazov provides a daily Morning Market Video Update to 39,000 YouTube subscribers, on topics from OPEC to stock updates, breaking market news, and Brexit to interest rates. His popular video training tutorials include TradingView Tutorial and How to Use Fibonacci Retracements. Papazov lives in Toronto, Canada.
DISCLAIMER: Futures, stocks and options trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures, stocks and options may fluctuate, and, as a result, clients may lose more than their original investment. Prior performance is not indicative of future resuls.
None of the content published on TRADEPRO Academy constitutes a recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. None of the information providers or their affiliates will advise you personally concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter.