Day Trading Tips and Tricks

January 12, 2019

Erich Senft

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Learn How to Use a New Futures Trading System

Get the Most From Your Futures Trading System

Learn a Futures Trading SystemIf you’re just getting started as a day trader, and you haven’t seen day trading software before, you’re probably in for a bit of confusion. It can be very complex; there are usually several different interfaces on any given piece of software, and even some of the terminology used for trades might throw you for a loop. The following tips will help you to learn the basics of a futures trading system and to master commodity trading software.

Don’t be Afraid to Explore Your Futures Trading System

First, if you want to learn day trading, you have to learn the day trading tools you’ll be using to do it. When you get your software, look around it and explore all of the different features. Don’t make any trades and don’t change anything on the interface just yet. Flip through the various parameters available and look for familiar terms and types of information. This approach will give you a basic idea of how the system is laid out.

The first part of making sense of any new software is to figure out how that software helps you to do something that you’re familiar with in a different way. Be sure review any training or other support materials that came with the software. 

Use Simulation Mode Until You Know Your Trading System Inside Out

Most day trading software will have a simulation mode on it that you can use to get comfortable your futures trading system. Don’t feel like you have to know what you’re doing after the first time you use a simulation. You may have to go through the simulation quite a few times before you feel comfortable with it. Remember: you should not use day trading software with real money until you are confident using the system in SIM to the point where making a sensible decision comes quickly and comfortably.

Incorporate Your Old Resources into Your New Trading System

If you’re accustomed to going to particular websites or using print media to get your information about the markets, don’t stop using those resources just because you’re using a new futures trading system. There is nothing wrong with getting a bigger picture of the markets, as long as the information does not become distracting. 

Eventually, you’ll probably learn your futures trading system well enough that it will become your primary source of information about the markets. While you are learning the software, however, use any other trading resources you’re accustomed to, so you’re always getting accurate and timely information.

January 12, 2019

Erich Senft

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