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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Tom Trader who wrote (36583)	10/14/1999 8:49:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

One thing the fellow at the seminar probably did not touch on too much, is that it's easy to teach someone what to do, but actually doing it is quite another matter. A dozen people, given the same system, will have a dozen different results.

To: Tom Trader who wrote (36583)	10/14/1999 8:58:00 AM
From: Matthew L. Jones	Read Replies (1) \| Respond to of 44573

Tom: Thanks for the welcome. Certainly not everyone is a $1M a year trader. I assume that this guy is the exception and not the rule. However, I was impressed with the guy (who was not trying to sell me nor anyone else anything). Having been around the trading business full time for about three years (and having made and lost good money), I have come to several conclusions: 1) This business if full of ego maniacs (which is good and bad). 2) The more I trade, the less money I make. 3) The harder I listen, the less I hear. 4) Most people who are telling others how to do it, don't know how to do it themselves (particularly some of the latest plethora of books). 5) Those who are most consistent and profitable trade one market. 6) I cannot properly trade several things at once (maybe I have a one-track mind). 7) The more I learn, the less I know. 8) Most of the truly rich traders trade the S&P's (a few trade currencies). I wonder why that is? I am very interested in learning to trade the S&P's. I know nearly nothing about futures trading. I understand T/A fairly well, however I don't understand some of the basics of the futures markets. I am reluctant to trade them however because I don't fully understand the "leverage" involved. I trade equities and options and have a good understanding of trading those markets. Some of the basic futures terminology seems to escape me, however. I read about locked limit moves and have visions of losing my shirt without any control. I also hear that the S&P futures markets are some of the most manipulated markets in the world. As liquid as they are, I can't understand how, but nevertheless, not knowing anything this makes me nervous. Finally, it is universally understood that the best traders in the world trade the S&P's. That being the case, I am not too excited about being fresh red meat for them to devour (if you know what I mean). I need someone to recommend some reading which is practical and not trying to sell me something or someone. I guess what I am trying to say is that I have a gut feeling that this is the market for me, but at the same time I have a good deal of fear that this market is particularly risky. I'm too ignorant to know if or where to begin. Matt