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How to Become a Professional Futures Trader

Futures trading is a complex and challenging profession, but it can also be very rewarding. If you are interested in becoming a professional futures trader, there are a few things you need to do to get started.

**1. ** Learn about the financial markets. Futures trading is all about the financial markets, so you need to have a good understanding of how they work. This includes understanding the different types of financial instruments, the different markets, and the different trading strategies.

2. ** Get experience trading. The best way to learn how to trade futures is to get experience doing it. You can start by trading small amounts of money, and then gradually increase your risk as you gain more experience.

3. ** Develop a trading strategy. A trading strategy is a plan for how you will trade the markets. It should include your risk tolerance, your trading style, and your entry and exit criteria.

4. ** Manage your risk. Risk management is essential for any trader, but it is especially important for futures traders. You need to have a plan for how you will manage your risk, and you need to stick to that plan.

5. ** Be patient and persistent. Trading futures is not a get-rich-quick scheme. It takes time, patience, and persistence to become a successful trader. Don’t get discouraged if you don’t see results immediately. Just keep learning, keep trading, and keep improving.

Here are some additional tips for becoming a professional futures trader:

  • Find a mentor. A mentor can help you learn the ropes and avoid making common mistakes.
  • Join a trading community. There are many trading communities online and in person where you can learn from other traders and share your own experiences.
  • Read books and articles about trading. There is a wealth of information available about trading, so take advantage of it.
  • Practice trading with a demo account. This will allow you to trade without risking any real money.
  • Start small. Don’t try to trade too much money too soon. Start with small amounts and gradually increase your risk as you gain more experience.
  • Don’t be afraid to fail. Everyone fails at trading at some point. The important thing is to learn from your mistakes and keep trying.

Becoming a professional futures trader is not easy, but it is possible with hard work and dedication. If you are willing to put in the time and effort, you can achieve your goals.

Here are some of the skills and qualities that you need to become a successful futures trader:

  • Technical analysis skills: You need to be able to analyze charts and identify trading opportunities.
  • Fundamental analysis skills: You need to be able to understand the underlying factors that drive the markets.
  • Risk management skills: You need to be able to manage your risk effectively.
  • Discipline: You need to be able to follow your trading plan and avoid making emotional decisions.
  • Patience: Trading is a long-term game, so you need to be patient and persistent.

If you have these skills and qualities, you will be well on your way to becoming a successful futures trader.

Shayne Heffernan

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S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.