University of Pittsburgh graduate Jason Damon possesses more than five years of IT experience. Since 2016, he has been working as a self-employed futures trader. From his home in Pittsburgh, Pennsylvania, Jason Damon purchases and sells futures contracts, which involves analyzing trends and managing risk.
Futures contracts are legal agreements to purchase or sell securities or commodity assets at predetermined prices and times. Trading these contracts is a zero-sum game, which means there is a winner and loser for every trade. Long-term success in trading futures generally requires sticking to a proven trading process, adhering to money management techniques, and being emotionally stable.
Traders should always create a comprehensive plan before they establish a position in the market. This plan should determine a profit objective and an exit plan for unfavorable trades. By not following a trading plan, traders become susceptible to emotional responses to decisions.
Another aspect to consider is the number of markets to track. The majority of traders focus solely on a few markets so they can effectively study charts and track news in those areas.
Trading in too many markets can affect overall performance because it limits the amount of time traders can spend studying each market. Conversely, trading in only one market can be risky because there is no chance to make up for losses.
Futures contracts are legal agreements to purchase or sell securities or commodity assets at predetermined prices and times. Trading these contracts is a zero-sum game, which means there is a winner and loser for every trade. Long-term success in trading futures generally requires sticking to a proven trading process, adhering to money management techniques, and being emotionally stable.
Traders should always create a comprehensive plan before they establish a position in the market. This plan should determine a profit objective and an exit plan for unfavorable trades. By not following a trading plan, traders become susceptible to emotional responses to decisions.
Another aspect to consider is the number of markets to track. The majority of traders focus solely on a few markets so they can effectively study charts and track news in those areas.
Trading in too many markets can affect overall performance because it limits the amount of time traders can spend studying each market. Conversely, trading in only one market can be risky because there is no chance to make up for losses.
