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Today's Featured Article

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Trading futures is a very rewarding and can be a very difficult endeavor at the same time. Anyone who has opened his or her account and funded it only to watch it evaporate knows this to be true.
The financial rewards for profitable trading are so out of proportion with the risk involved that there will always be a new group of traders who are willing to "take their chances" and start trading in order to make these financial gains.
So why do people continue to try to trade futures when the success rate is less than 10%? That is simple, greed. The simple idea that each of us is better than the next guy, smarter than the next guy and it couldn't be that difficult.
The good news: there is hope for those of you wanting to learn to trade futures quickly and effectively and to start making money in as little time as possible. In this short article I will share with you the three things you need in order to learn to trade futures with a high degree of accuracy and in as little time as possible. We at Nexgen Software have taught thousands of traders over the years and this is the newest technique that we use on all of our software demos and owners and the response has been overwhelming.
The first thing you will need is a methodology. Any great methodology will be one that gives you exact entries and exits. The method should risk much less than the reward potential on each trade, and be robust enough to work under ALL conditions and on all markets and all timeframes. Either way, without an edge over the market you will not get the results you are looking for. If you do not have one, fear not, Nexgen Software has one for you that is time tested on thousands of markets over the last 10 years.
Just ask for a complimentary demo.
The second thing you will need is a teacher. You must have someone hold you accountable for your actions or inactions. You must have a "higher power" to report to that will guide you through the mistakes you are making in your trading. This teacher must have great communication skills and really have an understanding of what it takes for his student to learn.
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The final piece of the puzzle once you have your methodology and have practiced the method enough to understand all of the rules is practice.
Market replay specifically is what I am talking about. Our clients use a program called Ninja Trader. Ninja Trader gives clients the ability to trade any day in the past- during or after market hours. You may re-trade each day again and again until you get it right. Your learning curve will shorten itself with the help of constant educational support and daily reviews of trades that where made, enormous progress can be made each day.
In fact, you can replay market data on 2-3 times the speed of a normal market. This will give you the ability to get days worth of practice in with just a few short hours in front of the screen, saving you valuable time. This can also be done in the evenings and on weekends to further maximize your progress.
To show you how simple the process is we will give you the steps to replay data.
To connect to replay data in order to view history as if it were live, first you must make sure you are not connected to any feeds and you do not have any workspaces open. Then Click FILE>CONNECT>MARKET REPLAY CONNECTION>"SELECT DATE".
 If you cannot view Screenshot #1,
go here.
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A Word from a Fast Break Sponsor
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This will bring up whatever data was recorded for that day and play it live. You will have the ability by using the control to speed up or slow down or pause the data. To speed up the data simply hit the fast forward button >>. Slow it by hitting play.
 If you cannot view Screenshot #2, go here.
You will be able to place buy and sell orders on the charts as if it were live. You will also be able to move your stops and targets. This will be an invaluable tool when learning to trade the futures market.
 If you cannot view Screenshot #3, go here.
 If you cannot view Screenshot #4,
go here. Simulated trading is an integral part of the process that everyone must go through in order to be a successful trader. Practice your methodology on Ninja Trader and test out the best methods that will give you the ability to learn to trade futures in as short of a time as possible.
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About the Author

John Novak
is President of Nexgen Software Services Inc. John is the developer of the T-3 Fibs ProTrader indicator package. He has been involved in the marketing and distribution of Technical analysis software for the last 13 years. He has devoted the last 10 years to the automation of a popular discretionary methodology that he taught in seminars for over 2 years to many successful traders that was centered on Fibonacci analysis of both time and price. With the help of his software programmers they have automated this entire Fibonacci process into a fully automatic program. He spends his days working on constant improvements in his analysis in predictive indicators for traders and spends
the day trading his own methods. |
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