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I want to learn to trade futures – specifically the E-minis (most likely the ES). Being a complete novice where futures are concerned, I was looking for videos on you tube that explained futures in general terms (what they are, how they are traded, etc).
I found one video on the basics of trading E-minis, but the presenter inferred that day trading is much more profitable than swing trading and that swing traders tend to incur greater and more frequent losses than scalpers. I found this a little discouraging given that I work full-time and would have to learn via swing trading.
I was wondering if anyone here swing trades (or has done previously) and what’s been your experience? Also how much starting capital am I likely to need when I do eventually go live as a swing trader? Thanks.
Can you help answer these questions from other members on NexusFi?
Ignore what you saw from some random video YouTube. That person likely has no idea what he is talking about. If you speak to any genuine, profitable trader then they will tell you it doesn't matter what time frame / style you use, the only important thing is that you trade in a way that suits how you view the market, your personality and your capacity for risk.
I am part of a firm that has traders worldwide, every trader has his own way of trading. Some are hardcore scalpers trading without charts, some are in FX, some options, some swing trading, some spreading. Probably every viable type of style there is. It is unimportant, only that it fits for you and you master it.
Swing trading can be very profitable. In fact I would recommend it initially over intraday trading, simply because it's a lot harder to screw up when you are not sitting at your PC staring at charts all day. Will teach you to create a plan / thesis and stick to it.
