Futures and Forex, a whole new world!

I just got back from Sunny LA.  I spent 4 days at Courtney Smith Futures and Forex boot camp.  While I have spent my entire trading career focused on stocks and options I felt now was the time to broaden my horizons and delve into the big boys playground of Futures and Forex.

I may have a great stock trading system that I rely on for my long term wealth, but it doesn’t mean I can’t keep learning new ways to make money in the markets.  I have always been interested in Futures and Forex and Courtney is a master trader in this field.  But beyond being a master trader, he is also a great teacher and a wonderful human being, so if you get the chance to learn from him, it comes with my highest recommendation.

The main thing that is scary yet exciting about Futures and Forex trading is the leverage.  For a non-US resident the leverage can be 200 times your money.  Now the risks at this level are very high and not for the faint of heart, but you can see why people, in particular those that are underfunded, are so attracted to the high level of leverage available.  It is of course much easier to get wiped out and then some, but if you know what you are doing and can mitigate risk it can be a fun playground to play in.

However, as a cautionary note, I learned a crazy statistic in Forex trading: 70% of all new accounts at Forex brokers are wiped out in their first year! WOW!

So, I am not recommending anyone rush out and open a futures or forex trading account, at least not until you have learned from someone like Courtney, but, in learning this side of the markets it gives you a better understanding of how economics in the world play out, fascinating stuff.

May today be a profitable day…for all of us.

John