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Commodity “Futures” Trading
Posted on 9/12/23 at 1:28 pm
Posted on 9/12/23 at 1:28 pm
Any of you do this for a full time job?
6
Posted on 9/12/23 at 1:38 pm to BigNastyTiger417
no
Posted on 9/12/23 at 2:06 pm to Sir Saint
I traded for years but never full time. I mostly position traded and spread traded.
Posted on 9/13/23 at 8:13 am to BigNastyTiger417
I trade options (mostly index options) as a premium seller full time. Commodity futures is a totally different game, so no, that’s not in my wheelhouse. I believe that Fat Bastard and maybe a couple of other guys have traded futures, but I don’t think they did it full time.
Posted on 9/13/23 at 8:28 am to BigNastyTiger417
Incredibly hard. Even more so than the regular stock market. You can get wiped out in 30 minutes.
Posted on 9/13/23 at 9:08 am to Jag_Warrior
I’ve been trading for a couple of years and am profitable, but profitable enough to provide 100% for my family. I’ve taken classes and stick to a set of rules. I was curious if others on here have a true mentor who taught them. In todays world, people on YouTube claim to know things, however they cause people to lose money while they make money from the videos.
Posted on 9/13/23 at 9:12 am to BigNastyTiger417
All I know is that if you're not careful someone might try and deliver many barrels of oil to you.
Posted on 9/13/23 at 9:17 am to Intelligent
Lmao! Yep. Most people are clueless as to how contracts work.
Posted on 9/13/23 at 9:39 am to BigNastyTiger417
quote:
In todays world, people on YouTube claim to know things, however they cause people to lose money while they make money from the videos.
Very true. The E-trade (?) commercial that makes fun of the YouTube trading gurus is both funny and accurate in its presentation.
My options trading methodology is roughly based on Tom Sosnoff’s TastyTrade framework. My approach to deltas on the short side is quite different from his, but his overall options trading methodology is very sound… and he’s a great believer in backtesting. Him, I can vouch for. He does trade futures as well. So I’m assuming that one could go to the TastyTrade site or channel and learn how he does what he does, and then see how well that would work for you. At least with options, his lessons cover both smaller and larger accounts. So it’s probably worth a looksee.
Posted on 9/13/23 at 4:31 pm to Jag_Warrior
Ty for the info
Posted on 9/13/23 at 4:41 pm to BigNastyTiger417
Not commodities but index futures here
Posted on 9/13/23 at 5:12 pm to BigNastyTiger417
quote:95% of futures/commodities accounts close within 6 months due to losses. The other 5% thank them on their way out. This is the nature of these markets
I was curious if others on here have a true mentor who taught them. In todays world, people on YouTube claim to know things, however they cause people to lose money while they make money from the videos.
Markets with enough liquidity all behave similarly. Index futures is a market that can be difficult to analyze but it can be done. It is my favorite. I worked for others for 8 years in the 90s, now work for myself only.
The best way is to spend a year or two learning how markets actually work, learn how trading actually works - I suggest multi-time frame analysis - before going full in but there are other ways. Some scalpers do well - too frantic for me. You must have an edge in your technique to consistently stay ahead.
Which brings to mind: speaking of only trading an edge - this is the biggest advantage an individual futures trader can have - they have no requirement to always be in the market like funds or some hedge accounts. If you do not have the edge you need, DO NOT TRADE. Don't overtrade.
This post was edited on 9/14/23 at 9:36 am
Posted on 9/13/23 at 7:37 pm to bovine1
quote:
I traded for years but never full time
same
Posted on 9/13/23 at 7:56 pm to Jag_Warrior
quote:
I believe that Fat Bastard and maybe a couple of other guys have traded futures, but I don’t think they did it full time.
damn, i did not even see this the first time. glad to see you are killing it trading stock options. surreal achievement man. especially full time.
Posted on 9/13/23 at 8:53 pm to BigNastyTiger417
by this book
Joe Ross-Trading by the book. buy it on amazon. i own it.
one of my mentors/teachers was Glen ring.
he had tons of great videos back in the day.
Joe Ross-Trading by the book. buy it on amazon. i own it.
one of my mentors/teachers was Glen ring.
he had tons of great videos back in the day.
This post was edited on 9/13/23 at 9:04 pm
Posted on 9/13/23 at 10:45 pm to Jag_Warrior
quote:
My options trading methodology is roughly based on Tom Sosnoff’s TastyTrade framework. My approach to deltas on the short side is quite different from his, but his overall options trading methodology is very sound… and he’s a great believer in backtesting. Him, I can vouch for. He does trade futures as well. So I’m assuming that one could go to the TastyTrade site or channel and learn how he does what he does, and then see how well that would work for you. At least with options, his lessons cover both smaller and larger accounts. So it’s probably worth a looksee.
Now you've got me interested. I've had some success with the Najarian brothers' unusual options activity approach, but not as much as I'd like. I'll spend a few days down this Sosnoff rabbithole to see where it leads.
Posted on 9/14/23 at 8:35 am to TigerHornII
The Najarians (and most options players) are more focused on net debit or long call strategies. I’ve got nothing against that approach, but for consistent, predictable income, net credit/premium selling strategies tend to perform better over time.
I met Jon Najarian at an investor conference in Vegas last year. I enjoyed getting to chat with him. He’s a very interesting fellow. His real estate investments in the Chicago area were of more interest to me than his options trading - although identifying unusual activity is a good strategy if one is going to go long on calls (follow the big money).
I met Jon Najarian at an investor conference in Vegas last year. I enjoyed getting to chat with him. He’s a very interesting fellow. His real estate investments in the Chicago area were of more interest to me than his options trading - although identifying unusual activity is a good strategy if one is going to go long on calls (follow the big money).
Posted on 9/14/23 at 4:49 pm to Fat Bastard
quote:
damn, i did not even see this the first time. glad to see you are killing it trading stock options. surreal achievement man. especially full time.
I appreciate that.
I was trading index options pretty heavy through most of last year and into this year, while I was still working full time. That took a lot out of me, but running the options business as a business (just like we do with real estate), told me this was the way forward. And at least with this, any stress I feel is of my own creation… can’t blame coworkers or anybody but myself. 
But thus far (even with having to pay my own insurance), it’s gone even better than I imagined.
Posted on 9/14/23 at 9:47 pm to Jag_Warrior
Jag, do you have a suggested place to start with Sosnoff? Googling turns up a lot of out of date junk, Tastytrade.com is all about the platform. Maybe some vids or books?
Posted on 9/15/23 at 5:39 am to BigNastyTiger417
No.
But my largest gains since the start of 2022-today have been in commodities.
Without question
But my largest gains since the start of 2022-today have been in commodities.
Without question
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