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March 24th , 2023

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Daniel Sewornu

2 months ago

HOW TO START FUTURE TRADING FOR BEGINNERS

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Business

2 months ago








  1. Open a brokerage account: In order to trade futures, you will need to open a brokerage account with a firm that offers futures trading.


  2. Choose a futures exchange: There are several futures exchanges, such as the Chicago Mercantile Exchange (CME) and the New York Mercantile Exchange (NYMEX), where you can trade futures contracts. Each exchange has its own set of rules and fees, so it's important to choose the one that best meets your needs.

  3. Learn about futures contracts: A futures contract is an agreement to buy or sell a specific asset, such as a commodity or currency, at a predetermined price on a future date. It is important to understand the terms and conditions of a futures contract before you start trading.

  4. Develop a trading plan: It is important to have a plan in place before you start trading futures. This should include your risk tolerance, investment goals, and a clear set of rules for entering and exiting trades.