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READER
QUESTION AT CTCR
Online
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What
Are the Best Resources?
"ok,
i am new to commodities, and have been in the market for
almost 2 months. I seem to spent at least 8 hours a day
reading, charting, or anything I can do to get up to speed.
I would like to know in your opinion, what is the best
resourses that I can use (ie. software, texts, market
news), so that I can feel that all of my avenues for making
profitable trading choices are covered."
K.
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EDITOR-IN-CHIEF
COURTNEY SMITH'S ANSWER AT CTCR
Online
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Editor-in-Chief
Courtney Smith: This is certainly the million dollar question!
First, scope through the material on this site. Second, just
read material on every site you can find. Third, don't believe
anything on those other sites if they are trying to sell something.
Fourth, read the books that we recommend that are Editor's Choice
books. Fifth, only then should you try other sources of information.
I don't want to be self serving but CTCR is one of the few services
in the futures industry that tries to help people make money
and honestly tries to get people to spend LESS money in their
eduction.
Books are the cheapest form of education for futures trading.
They cost little, contain a lot, and can be referred to again
and again.
Unfortunately, some people have a hard time learning from books
so they try seminars and videos. We have reviewed some videos,
including the very popular Ken Roberts and Larry Williams tapes
but haven't really found anything that really was high quality.
Unfortunately, we don't really review seminars.
After doing the five steps above, you should start to paper
trade. Trade a fictitious account on paper. Be sure to write
everything down so you can see if you are making money or not.
Don't lie to yourself. Be honest. Then, if you are making money
on paper, try the real world. Start small. Risk little. Build
slowly. Don't be overconfident. Remember, 90% of futures traders
lose money.
Good luck and good trading!
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