I have been involved in the markets since the early 1990's. I started with futures trading, then moved on to options trading, graduated to stock trading, then full circle, back to futures trading—where I will stay permanently. During this time I also learned daytrading and swing trading.
When I was 21 years old I drove all the way from my home in Buffalo, NY to Chicago to go to a $3800 Options Class. It was a great course, I learned a lot and was able to visit the CBOT (Chicago Board of Trade)—I even bought a CBOT sweatshirt! But when I got home, I was broke, so I had to put everything I had learned on hold and went back to work!
I managed to save up some money and open an account. It only took a couple months and I blew out the account. Once that happened I went back on my quest to find the secrets to trading. I read a lot of books and went to a lot of high priced seminars and even bought some home study courses from the GURUS. I learned about technical analysis and all the different indicators one could use to predict future market prices.
Honestly the first 3 years were tough. I blew out a lot of trading accounts and lost tens of thousands of dollars. I realized trading is a tough business but I moved on—knowing one day I would find what I was looking for. It took a while but I finally realized that what I was missing was discipline. I had a hard time following through with rules!
I totally changed my thought process on trading. I realized it was a tough business and that if I couldn't follow rules then I really had no business trading. After that my trading career turned right around!
I then developed a very simple approach to trading. I found 2 indicators that when used together were highly accurate. Of course I back-tested it for several months to see how it worked and to create rules, entries, exits etc. After about 3 months I traded live with real money and the results have been fantastic.
My whole mind set is different. My goal way back was to make a killing in the market. Now that's not the case. Now I trade for a living! I take a small chunk everyday to make a very comfortable living. I like to see it as an apple tree outside my house. Everyday I go outside and take the apples I need for the day. I don't try to cut down the whole tree!
I earn my "living" by trading for 1 point a day! Trading for 1 point a day is a very attainable goal. If I need to make more money, I simply trade more contracts. To give you an idea of what 1 point a day can produce, take a look at my Business Plan.
DISCLAIMER: Futures and options trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures and options may fluctuate, and, as a result, clients may lose more than their original investment. The impact of seasonal and geopolitical events is already factored into market prices. The highly leveraged nature of futures trading means that small market movements will have a great impact on your trading account and this can work against you, leading to large losses or can work for you, leading to large gains. If the market moves against you, you may sustain a total loss greater than the amount you deposited into your account.
You are responsible for all the risks and financial resources you use and for the chosen trading system. You should not engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. If you do not fully understand these risks you must seek independent advice from your financial advisor. All trading strategies are used at your own risk. This software should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide which trades to make. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
Past results are no indication of future performance.
In no event should the content of this correspondence be construed as an express or implied promise, guarantee or implication from Insight One LLC that you will profit or that losses can or will be limited in any manner whatsoever. Insight One LLC is not responsible for any losses incurred as a result of using any of our trading strategies and software. The AutoTrader should never be left unattended due to the possibility of events out of your control, such as computer or data failure, power outages, position mismatches, and/or network problems. Loss-limiting strategies such as stop loss orders may not be effective because market conditions or technological issues may make it impossible to execute such orders. Likewise, strategies using combinations of options and/or futures positions such as "spread" or "straddle" trades may be just as risky as simple long and short positions. Information provided in this correspondence is intended solely for informational purposes and is obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.