Papertrading

Not surprisingly a lot of new traders get their feet wet by first taking trades on paper and recording theoretical results. Probably half of all new futures traders that we work with take this approach in the beginning. Often though, trading success on paper looks easy and these traders are tempted to risk real dollars before they have really had their confidence tested.

Papertrading can be deceptive, and after a few profitable trades in a row (on paper), people tend to feel like they are missing out by not having actual dollars in the market(s). Unfortunately a really important part of being a good commodity trader has to do with keeping your perspective when you go through losing periods, which are inevitable. Unless you have seen yourself and your trading methods go through a number of these profit/loss cycles, it is hard to have this perspective.

For most people, it is probably a good idea to paper trade for at least 3-6 months before risking real money. Some people get bored with this, of course, and simply choose to “pay their tuition up front.” This trial-by-fire approach will help hold your interest, but obviously, it can be expensive.

In keeping with our overall philosophy, there are no requirements whatsoever. Free of charge, we provide complete access to all of our web site services to anyone who wants to use them. This includes our high quality futures charting, research and quote services. We also provide a daily fax to which anyone can subscribe. It contains 2 pages of complete price quotes for all US commodities and it is totally free. Students who are tracking their charts by hand tell us that this is an especially convenient tool for maintaining them.

Contact us when you feel like it and ask whatever questions you want to. You are responsible for actually keeping track of your profits and your losses, but we will estimate your exact fill prices, help you understand the types of orders you need to use, make certain you trade the right contract months, etc. We understand most of the popular trading programs that are currently being sold, and chances are we have worked with a number of clients who have already tried them. In general we are easy to reach, and glad to help. We also know that futures markets can be intimidating and we are careful to be patient with new investors.