Walk Before You Run When Trading Futures 1.05.2016

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Hope everyone had a great holiday season and some time off with family and friends. I wish all of you the best in trading in 2016 specifically and in all aspects of life in general.

Great article to start your trading in 2016:

Walk before you run

By Cannon Trading staff

The image of a successful futures trader is that of a lone wolf surveying the landscape looking for an opportunity to attack and seize quick and substantial profits. We all know about the potential for making a fortune in the futures markets. Yet, few do so. Why is that? What are some of the common pitfalls that prevent this dream from becoming a reality for most traders?

One of the most prevalent misconceptions for inexperienced traders is that they believe themselves to be smarter than the rest of the market participants. They under estimate the qualifications and abilities of the rest of the futures markets professionals. This business of trading is dominated by very dedicated, resourceful professionals who have invested lots of time and assets into their pursuit of trading profits. Competing against these seasoned professionals is not impossible but going it alone, especially initially, is usually not the most prudent course of action for new traders.

    When we were children, we learned to walk before we learned to run. This is true for most of our life experiences. We played t-ball before we played baseball. We took lessons from Arthur Murray before we entered dance competitions. We watched cooking shows or read cookbooks before we attempted to deep fry our first turkey. So, why do so many novice traders think that they should enter into the world of futures trading without the support of an experienced futures broker? Why, armed with their computers and quote systems do they think that they are equipped to go it alone and be successful? It isn’t logical. It goes counter to our collective life experiences.

If your goal is to trade independently, why not do so after acquiring valuable experience and insight by working with a seasoned professional broker? Someone who is already fully engaged in the futures markets. Why not begin by using a mentor, a teacher, an advisor who can supply ideas, guidelines, disciplines, and insights that the novice trader could not otherwise be exposed to? We all learned to drive with the help of an instructor, why not approach the futures markets in a similar fashion? Your hard earned capital is at stake. Getting an education can be a very expensive process, especially in the futures business. Why not take advantage of the help offered by an experienced professional? Help like this can shorten a new trader’s learning curve and reduce the cost of his or her tuition for this education.

It is true that not all brokers are quality teachers or mentors. The futures trader must choose his or her mentor carefully….just as one does when choosing a lawyer, doctor, or accountant. The brokers at Cannon Trading as a group are among the finest professionals that you will find anywhere in the futures trading world. The management at Cannon Trading has chosen these brokers prudently and after much scrutiny. This is evidenced by the impressive record of professional business conduct for the past 20 years by Cannon’s brokers. This record can be reviewed by going towww.nfa.futures.org ( the National Futures Association) website and comparing Cannon Trading versus other futures brokerage firms. You will be impressed.

Professional athletes use sports psychologists. Boxers use corner men. Graduate students study under the guidance of their professors. Professional singers utilize vocal coaches. Shouldn’t you as a futures trader avail yourself of the same sort of support that successful people in all of these endeavors use? Take full advantage of all of the tools available to you in your quest for trading profits. Make 2009 your best trading year possible.

IMPORTANT PLEASE NOTE:  TRADING COMMODITY FUTURES AND OPTIONS INVOLVE SUBSTANTIAL RISK OF LOSS.  THE RECOMMENDATIONS CONTAINED IN THE LETTER IS OF OPINION AND DOES NOT GUARANTEE ANY PROFITS.  THERE IS NOT AN ACTUAL ACCOUNT TRADING THESE RECOMMENDATIONS.   THESE ARE RISKY MARKETS AND ONLY RISK CAPITAL SHOULD BE USED.  PAST PERFORMANCES ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

GOOD TRADING