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The Important of Setting Futures Trading Systems
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As with any industry and field of study, the person who has the most expertise is the one who will most likely thrive the longest and reap the greatest benefits. This is the same with futures trading.
The trader or investor with the most experience and know-how is the one who is better positioned to take home serious wins, as opposed to the novice trader who banks all his cards on luck.
Start-up traders who just rush into the business without ample knowledge and foresight will not just lose their investment, but will also lose the money spent for initially getting into the trade. Any professional on the futures trading field will say that all will be futile without a systematic plan.
Chances are, without a trading system, the individual who opts to trade might buckle under pressure and end up losing so much more than he should have. As with any business, you must consider not just the resources you hold and how much you are willing to risk, but also the timing of the investment and when each move should be carried out.
Futures trading, therefore, should be met with a business-like approach and with a professional system, and should not be treated as a mere hobby.
To start with, your futures trading system should include answers to the following:
What markets will you be trading in? What are the requirements needs to enter a trade? What are needed to exit a trade with profits? How do you exit a trade with losses? How much money can you afford to risk in the transaction? and What are your capital limits?
Those who start trading without clear answers to the above questions are not likely to succeed in the long term. The absence of a set goal and defined trading system will only make you jump from one market to another, and prevent you from taking up expertise in a certain financial instrument.
In addition, the presence of a system will also protect you from unforeseen events, because you are likely to have already thought of a backup plan in case unfavorable instances occur. To know if the trading system you have mapped out is effective, ask yourself whether most of the decisions you have to make under the plan are based on subjective feelings. If they are so, then it's time you make a change. To avoid getting too emotionally attached to your investment, you must plan your moves objectively and realistically.
Once you have a system in place, you must commit to follow your plan all the way through. Even with a solid system, you are still likely to fold if you don't have the proper discipline to carry it through.
Of course, while we can never discount the contribution of luck to trading wins, you should not bank all your hopes on fate. A good system is what will keep you sane and protected when you're engaging in futures trading.
Remember, while market conditions change sporadically and nobody can really accurately predict where economies go, there are ways to make informed guesses and intelligent forecasts. And because you're dealing with your hard-earned money here, it's better to be safe than sorry.
As a futures trader, you are responsible for own success or failure. Make the journey worthwhile by having a solid system.
Us Commodity Futures Trading Commission News
CFTC to Release Clearing Rule for Swaps in JPMorgan Trades - San Francisco Chronicle
 AFP | CFTC to Release Clearing Rule for Swaps in JPMorgan Trades San Francisco Chronicle May 22 (Bloomberg) -- The types of derivative swaps said to have led to a loss of at least $2 billion at JPMorgan Chase & Co. may be the first for which the US Commodity Futures Trading Commission would require guarantees by clearinghouses under the ... JPMorgan lobbied CFTC a day after losses revealed JPMorgan, CFTC held talks a day after losses revealed CFTC chief: Looking at JPMorgan, need global rules |
CFTC: Former Chicago Trader Banned, To Pay $600000 - Wall Street Journal
 CFTC Law | CFTC: Former Chicago Trader Banned, To Pay $600000 Wall Street Journal A former Chicago trader was ordered to pay a $600000 civil penalty and permanently banned from the commodities industry in connection to an elaborate scheme to trade options without posting the required margin, the US Commodity Futures Trading ... Chicago man fined $600000 for margin call avoidance scheme CFTC Obtains Injunction Against Former Floor Broker for Margin Call Avoidance ... |
CFTC probing 2011 cotton market ructions: FT - Reuters
CFTC probing 2011 cotton market ructions: FT Reuters (Reuters) - The Commodity Futures Trading Commission has opened an investigation into the volatile trading and large contract deliveries that roiled the cotton market a year ago, the Financial Times reported on Wednesday. The CFTC's enforcement ... Cotton traders face investigation |
JPMorgan lobbied CFTC a day after losses revealed - Reuters
JPMorgan lobbied CFTC a day after losses revealed Reuters By Alexandra Alper | WASHINGTON (Reuters) - JPMorgan Chase & Co officials met with the US futures regulator one day after revealing a $2 billion loss on trades booked in London, according to information from the Commodity Futures Trading Commission. |
CFTC's Gensler Breaks Silence on MF Global - Fox Business
 Futures Magazine | CFTC's Gensler Breaks Silence on MF Global Fox Business CFTC Chairman Gary Gensler recused himself last year from his agency's probe into the firm because he once worked at Goldman Sachs with MF Global's former CEO, Jon Corzine. The CFTC and a bankruptcy trustee are seeking to recover a $1.6 billion ... CFTC Chairman Gensler explains commission's processes, goals for rule-making CFTC Gensler talks Dodd-Frank at Senate committee meeting CFTC Finalizes Swap Data Record-Keeping and Reporting Rule |
CME set to extend hours for pit grain trading: traders - Reuters
CME set to extend hours for pit grain trading: traders Reuters This would include USDA's monthly world agricultural supply/demand reports and quarterly US grain stocks reports. Traders said the CME intends to file a notice on Thursday with the US Commodity Futures Trading Commission about the expanded pit hours, ... |
CFTC chief: looking at JPMorgan, need global rules - Chicago Tribune
CFTC chief: looking at JPMorgan, need global rules Chicago Tribune WASHINGTON (Reuters) - The head of the US Commodity Futures Trading Commission confirmed on Monday that the regulator is investigating JPMorgan Chase & Co's recent trading losses tied to credit derivatives that may exceed $2 billion. |
JPMorgan, CFTC held talks a day after losses revealed - Reuters
JPMorgan, CFTC held talks a day after losses revealed Reuters Five JPMorgan officials met with CFTC on May 11 * Meeting was to discuss "cross-border issues" * JPMorgan has fought overseas reach of US swaps rules * Gensler says JPMorgan shows need for overseas reach By Alexandra Alper WASHINGTON, May 22 (Reuters) ... |