12 Principles for Successful Futures Trading

A Practical Guide for a Successful Start in Trading: Develop High Quality Trading Ideas, Maximize Profits, and Master Trading with the right Psychology

Niclas Hummel

• Publisher: Books on Demand
• Year: 2023
• Print ISBN:
  9783757852580
• Edition: 4
• eBook ISBN:
  9783757877545
• Topic: Business
• Subtopic: Business General
• Index: Business

Do you want to navigate the financial markets successfully and profit from futures trading - one of the most profitable wealth-building opportunities? Have you brought enough courage, perseverance, and thirst for knowledge with you? - Then, this book is exactly right for you!In this book, Futures Trader Niclas Hummel summarizes all the principles for successful trading with futures contracts that he has discovered over his 11 years of experience.It explains how you too can successfully manage risks. The author adopts a step-by-step approach towards all important topics such as broker and market selection, entry signals, and trade management examples. Other important considerations include: statistics, expectations, and managing mental resources."I want trading to serve you and offer a greater risk-reward for your time. Because trading doesn't always mean being active, rather letting the market work for you."This book is suitable for aspiring and interested derivative traders, and I cover the following products: - CME, NYMEX, CBOT, EUREX Futures- Mini-Futures, Micro-Futures and Options- Crypto markets: Crypto Perpetual Futures, Decentralized Crypto Derivatives A good trader has an overview of different asset classes: - Stock indices / Stocks- Commodities- Currencies / Forex / Crypto- Bonds How you can profit from the overall market and master the skill of high quality selection of markets and trends has been best described with the principles in this book. Most traders start out with a negative expectancy value. It is inherent in human nature, that betting on prices with risk and rewards doesn't come natural to us. Each individual principle increases the trader's expectancy value because a new mindset towards opportunities and risks, as well as practical techniques, is taught - until your expectancy value as a trader gets positive and the compounding effect, which is unique to short term futures trading, can take effect. In futures trading, psychology, technique, product selection, brokers, taxes, and precise methodology are important. All of these topics are explained in detail in this concise book format, so that the reader ultimately gains a comprehensive view of the financial markets and can make clear decisions in the world of trading. The methodology is further illustrated with example charts and other related graphs.

Table of contents

• Risk Disclaimer
• Epigraph
• Table of Contents
• Foreword
• Risk
• Dealing with Losses
• Starting Point - The Casino Situation
• The Expectancy Value
• Compound Interest Effect
• Principle I: Everything is Permitted
• Principle II: One Trade at a Time
• Principle III: High Risk-Reward
• Principle IV: Wide Stop-Loss Distance and No Intraday Charts
• Principle V: Follow the Trend
• Principle VI: Be where the Volume is
• Principle VII: Follow Through Until the Exit Condition
• Principle VIII: Letting Profits Run
• Principle IX: Trade with your own Money
• Principle X: Be Rational
• Principle XI: Reduce Your Risk When Things Aren't Going Well
• Principle XII: Doing Nothing Is an Important Action
• Trade Management Examples
• Conclusion
• Keyword Table of Principles
• Acknowledgment
• Contact
• Sources
• Copyright