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I'm a newbie to this site. I have traded stocks and options for a bit and looking to start trading futures (e-minis for starters). I have started to look at training resources for futures, (you tube and OX) also checked out a shadow traders webinar tonight. When I was googling for shadow traders reviews I discovered "Big Mike's".
So my question is, as I looked through some threads on this site I saw some info about Perry who had some tools similar to shadow trader software - can anyone point me to this software. Question 2, can anyone recommend some training materials (books, website, etc) that helped them to quickly immerse themselves into the "futures world"?
Thanks in advance and look forward to contributing this site.
Can you help answer these questions from other members on NexusFi?
As a newbie, to get lot of experience (i.e. screen time) is the most important thing... do you have the time to watch the market for a year or two?
If the answer is no, you might want to give RapidSP a shot. Google it. Basically, you can watch price action at various speeds for the most commonly traded futures contracts (ES, YM, NQ...etc.) for every day back to about year 2000 or so.
So if you like 5 min charts, instead of watching the screen all day, you load the program, set the speed and off you go. You can pause at any moment. You can get through the day as slow or as fast as you like, pausing at critical junctures in order to examine what's going on. You can also place paper trades.
This was you can cram years of screen time into just a few months. It's not the same, but it's the second best.
Now, on the downside, the software is crappy in lot of ways. They have a good product, but it has some very annoying quirks. It's a neat toy though.
PS I should add that I am not a vendor and don't get anything if you buy it.
You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
There was a thread on this a few days ago. There's even more valuable stuff further back; using the search button is usually better than to ask very generic questions.
I read that intro on the CME web pages. Great intro stuff with nice photos. First time I learned from a reputable source that an individual retail trader provides liquidity to farmers wanting someone to buy the contracts they sell! Made me feel a little …