Trade Futures and Options Like a GirlSee our "Trade Like a Girl" quiz in the Fall TraderPlanet Journal!

“Girls” believe in pressing their luck in the markets, even if they are enjoying relatively easy gains now? 

Answer: FALSE

Beginning traders sometimes confuse skill with luck.  There are times in which you will be in the right place at the right time to make extraordinary profits possible.  If this happens to you, take the money and risk off of the table. 

Regardless of what we think that we know, or even what others think that we know, trading boils down to making an educated guess.  If you happen to be the lucky beneficiary of a windfall profit, don't get greedy or expect that the gravy train will continue.  Letting your ego fog your logic may lead to a situation in which a big winner becomes a loser.

“Girls” attempt to keep past trades where they belong; in the past?

Answer: TRUE           

Whether it is a positive or negative, the past is the past and it should stay there.  Allowing previous decisions to guide future actions in the markets is one of the quickest ways to end a trading career.  The most common form of this is the torture a trader sometimes puts himself through by playing out different scenarios of what could, or should, have happened. 

Dwelling can be a drag on performance or in extreme cases devastating to a trading account.  The fact is: we will never be able to sell the exact top and buy the exact bottom.  This is something that mature traders learn to accept.   The ability to fully appreciate this concept should prevent you from carrying the emotional baggage that comes with the "could have, should have" mental anguish.

Continue reading in the Fall issue of TraderPlanet Journal

Futures and Options Trading Booksby Carley Garner

What People are Saying about Our Commodity Trading Books

Choosing a Futures Broker and Brokerage Service

Full-Service or Online Trading?

The decision to trade online or through a full-service commodity broker will undoubtedly make a large impact on your bottom line.

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A Fair Commission Rate vs. Low Commission

To look at commission rates objectively, we must understand the background of the futures industry and how brokerages accept risk for fees.

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Choosing a Commodity Brokerage Firm

Deciding on a commodity brokerage firm is a significant decision and shouldn’t be taken lightly. Not all traders and brokers are compatible.

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Choosing a Futures and Options Broker

Most traders in search of a futures broker are concerned primarily with trading platforms, commission, and quality guidance.

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The Truth about Futures Commission

The goal of futures trading should be to MAKE money, not SAVE it! Discount commodity brokers cut corners that cost their clients time & money.

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Commodities via Futures or ETFs?

A key difference to trading commodity futures over ETFs is leverage, but there is more to discuss, such as taxes, market hours, and efficiency.

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