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How To Trade Futures For A Living Futures trading is one of the few professions where just about anyone without any special expertise can become financially independent. This is why, year after year, thousands of people try their hand at trading futures with the dream of quitting their day job. Unfortunately, over 90% don't succeed. With this in mind, it is important that people approach futures trading more realistically. It is important to develop a long term plan in order to meet the specific goal of becoming financially independent through futures trading. This profession is simply too competitive to start from scratch with no clear plan. First of all, let's understand who your competitors are in this profession. To begin with, there are individuals and corporations who use the futures markets to hedge their main business interests. For example, energy producers have an interest in locking in price stability as they bring their product to the market. The same is true for any agricultural related business. It is part of their job to understand how the futures markets work. Boston Red Sox owner John W. Henry, who built his fortune as a Commodity Trading Advisor (CTA), grew up on a farm in Illinois and first applied his trading ideas to the agricultural markets in an effort to hedge his family's crops. Opposite the hedgers are the speculators, both large and small. The large speculators are dominated by the hedge funds and CTAs. As of the end of 2012, managed futures accounted for well over $300 billion in assets under management. As the managed futures business has become more competitive, it has become dominated by trading firms that hire scientific whiz kids wielding PhDs from the likes of MIT and Harvard. Their mission is to develop complex quantitative strategies for trading futures. These firms earn most of their money from incentive fees as high as 35% of the net profits in their client accounts. The typical fee arrangement involves a 2% management fee and 20% incentive fee. Therefore, a business with $1 billion in assets under management that earns 20% before fees stands to earn a total of $60 million in fees. Now you know why the business of managed futures and hedge funds is so competitive. As a small speculator, the individual trader is clearly at a significant disadvantage, yet many plunge in without considering the competition. So, what should the plan be? Well, consider this... most of the people who've generated substantial wealth for themselves have done so not by trading their own money, but by managing their money along with client assets. By pooling their assets with client funds, they generated income through management fees and incentive fees while letting their own money compound over time. One of the pioneers in the world of managed futures, Dunn Capital Management, has generated a compound annual rate of return of 18% over forty years. Bill Dunn started his business in 1974 along with 19 investors who chipped in a total of $137,000. The firm now manages over $1 billion and generated a 34% return after fees in 2013. Those that have enjoyed this type of success did not start out with the idea of becoming financially independent by trading their own account. They made a career choice and conducted significant research, or they started by working for another successful trader. Consider the story of the Turtles, who were trained by Richard Dennis and William Eckhardt in the mid-1980's. While a few had some trading experience, most did not, but answered an ad to go learn from a trading legend. Monroe Trout and Toby Crabel, both known for their success as money managers who've employed a shorter term trading approach, both worked for Victor Niederhoffer early in their careers. Niederhoffer himself had been a professor who caught the attention of George Soros, and Niederhoffer partnered with Soros from 1982 to 1990. Retired billionaire hedge fund manager Stanley Druckenmiller also worked for Soros. OK, so where does that leave the individual who is plowing away at their 9 to 5 day job? Here is your plan. First, don't quit your day job to start trading futures. Your chances of success are about 100 to 1, if not worse. Or, if you've recently lost your job, don't start trading futures to try and earn an income. It is simply too difficult. Futures trading is a zero sum game. For each trade you make, there is someone on the other side of the trade that is making the opposite bet, and I've just described your competition. With that in mind, you MUST have an income that pays all of your bills and allows you to save money. Second, you must educate yourself as much as possible about the futures markets. This does NOT mean paying $5,000 to attend some weekend long or five day trading course. You must learn everything there is to know about the markets, from the basic fundamentals to the basic trading strategies employed by the big traders. Next, you must conduct your own research and develop your own strategies for trading. However, these strategies must be aligned with your job situation, overall financial situation, and personality. If you work a 9 to 5 job, it makes no sense to day trade. If you don't have at least $50,000 in risk capital, it makes no sense to employ a systematic trend following approach that requires a diversified portfolio. This does not mean that you need to create a strategy from scratch. You can certainly attend a course on trading or technical analysis in general to learn some strategies. But, you need to ultimately conduct your own research on these strategies in order to truly be confident that they will work. You must also understand the costs of trading futures. These include the computer equipment, the trading platform, the exchange fees for data, commissions, government trading fees and execution slippage. Fees for real time data from the exchanges can total several hundred dollars per month alone. With this in mind, you must approach futures trading as you would any other business. You must write out a business plan, set goals, and set aside time each day to review the markets, conduct further research, and prepare for the trading day ahead. You should also conduct a self-evaluation at least every six months to determine whether your plan is working, and what improvements you can make. All of this probably sounds like a daunting task. While it is possible to become a successful futures trader all by yourself, the odds are against you. But, consider the case of Gary Smith, who authored a couple of books on trading stock index futures and mutual funds... it took him 18 years to become profitable, and that would never have happened if he had not had the opportunity to talk to some successful floor traders. When all is said and done, the vast majority of the most successful futures traders have a couple things in common. First, they either worked in the business in some way, worked for another successful trader, or were mentored by another trader. Second, they built their wealth over time, and through managing client money. Therefore, any individual who desires to trade futures should consider learning the business through employment or a mentor. Also if they ultimately have some success at trading their own account, they should consider managing money for friends and family to earn extra income. Financial independence should then be viewed as a long term goal rather than a short term objective. Trading futures is a difficult and specialized business, but in terms of building wealth, the sky is the limit, and anyone can do it with the right approach and plan.

10 Easy Steps to Succeed in Your Online Classes

Congratulations Youve made up our minds to pursue your upper schooling, and doing so online is how to pass if you have an interest in a versatile, studentcentered educating manner. Studying online permits you to pursue different pursuits and attend to different responsibilities whilst nonetheless operating your method towards some extent. However, it will now and again imply that its clean to get distracted. Here are 10 clean steps to verify luck on your online categories.

Connect together with your instructors once conceivable. Even in case you are doing smartly within the category, its extraordinarily vital to increase a rapport together with your trainer. When you do that early on, you temporarily understand what the priorities are within the route, what expectancies the professor has of you and youre going to be motivated to prevail, surer of whats forward and higher ready to do smartly with the impending subject material.

Valuable questions to invite your trainer come with the next

How versatile are you with time limits How versatile are you with grownup freshmen What applied sciences do you employ within the route How to be had are you through e mail and different sorts of verbal exchange How do you put up an internet neighborhood and what are the expectancies for participation in it In addition, since instructors are to be had to lend a hand all over the classes, its all the time just right to have had private touch with the trainer early on. This method, when you wish to have lend a hand, its more straightforward to achieve out and get the help you wish to have.

Confirm the technical necessities of the route. Online categories can also be very advisable for college kids with busy schedules, however provided that they are able to simply get right of entry to the fabrics. It is vital to obviously perceive what the technical necessities are. So, ahead of the route begins or as quickly thereafter as conceivable, youll want to test that your pc will paintings with the entire online equipment, and that you understand how to navigate them. This will be sure that you dont must spend time all the way through the route attempting to determine the generation.

three. Create a time table and stick with it. Quality online instructors create classes which might be clean to navigate and feature transparent expectancies. Having that roughly easytodealwith framework in position will make learning and succeeding that a lot more straightforward. However, although the framework and necessities of your category arent as transparent, youll create a time table and construction, which is able to very much fortify your probabilities of luck within the route. Using equipment equivalent to Google Calendar is a good way to start out. Knowing how your weeks and months glance and scheduling blocks of analysis time for each and every activity or module will will let you stick with a time table.

four. Ask questionsall the time. When you dont perceive, ask questions. When you do perceive, ask additional questions. Instructors recognize scholars who take part, and if theres a participation or dialogue part a part of the grade, then asking high quality questions is helping guarantee your grade on this space. Even if there isnt a participation part, its all the time helpful to invite inquiries to remember to perceive the fabric and are transparent on what is needed of you.

five. Be arrangedand keep arranged. Students whore taking conventional, campusbased classes most often have a constant time table to observe each and every week, through which study room instruction is adopted through assignments out of doors the category. However, for online classes, scholars will have to search out their very own techniques to stick on most sensible in their paintings. It is crucial that you just be arranged from the start of the semester with the intention to achieve success in an internet route. For instance mark task due dates on your calendar, discover a submitting machine for each online subject material and bodily subject material that is helping you stay monitor of the whole lot simply, and shed light on find out about schedules that duvet sections of the route one by one so youve got an arranged tactic to protecting the semesters subject material as you pass alongside.

Have a blank, quiet, and constant workspace. One factor online and inclass classes have in not unusual is that scholars all the time want a spot to review or whole assignments this is blank, quiet, and constant. You can select the place that is for youwhether or not its at a espresso store, a college library, a devoted place of business, or at house. Wherever you select to review and whole assignments, you must make it a constant location that doesnt have out of doors distractions. It is basically key that where is quiet and lets you focal point in your paintings with out distractions.
Do no longer procrastinate. Successful distance freshmen hardly procrastinate. They dont do away with assignments or wait till the final second to write down their papers. Successful online scholars experience freedoms that come with operating at their very own tempo and the facility to finish their paintings in as a lot time because it takes them. On the opposite hand, they know that finishing their assignments is best performed early and on time cramming merely doesnt paintings, and it doesnt will let you retain knowledge longterm. Get began early on getting a success.

eight. Work in your studying comprehension. Successful distance freshmen generally tend to have just right studying comprehension abilities. Most conventional, campusbased scholars concentrate to lectures and take notes, and a few online classes additionally require this. However, the vast majority of distance freshmen are anticipated to grasp subject material thru a large amount of studying. Although far finding out classes be offering video recordings and audio clips, maximum systems require scholars to hide and grasp a considerable amount of written knowledge. If it is a problem for you, it could be very useful to first sign up in a studying comprehension route there are lots of assets online that will help you do that. This ability by myself could make a huge distinction on your luck.

nine. Establish and admire routines that be just right for you. If, for instance, youre employed best within the morning or in brief bursts, then set find out about routines that can help you find out about within the prelunch hours when your mind is contemporary. If, then again, you do best through learning at evening or at the weekends when youll devote nightowl hours or longer blocks in your learning, then make it some degree to take action. Consider how and whilst you paintings best, and enforce a find out about plan that respects the routines that be just right for you.

Connect together with your friends. Establishing sturdy connections with friends and professors is a very powerful facet of tutorial luck, in addition to skilled development. One of essentially the most rewarding reports in schooling is finding out thru collaboration. Forming significant relationships together with your friends and professors can can help you be told extra, keep motivated, and feature an outlet to specific your personal working out of subject material. So, keep attached thru message forums, chat rooms, e mail, and different digital assets. And take note lots of the other people you meet in faculty shall be conceivable process assets down the road so determine connections and keep in contact

Florida National University gives a wealth of tutorial and professional online classes. Check out the entire choicesyour long run is ready