Jordan Schleider: Unique Insights on Future Trading
The hardest and least talked about part of futures trading is emotions. For those of you that are looking to break into the futures trading market, I would like to offer you a little insight from my 20 plus years of trading experience. My name is Jordan Schleider and I am the founder and head trader at NQ Trader, a small boutique trading school in Boca Raton, Florida.
At NQ Trader, we focus on many different aspects of futures trading. We teach a complete trading system based on technical analysis using price actions. Price action trading is a proven way to successfully trade futures. In simple terms, price action is a trading technique that allows a trader to read the market and make trading decisions based on the actual price movement on the chart, rather than relying on lagging indicators. Most indicators are derived from the actual prices on the chart, so they are in fact, giving them information on past price movements.
One important thing that many prospective futures traders overlook is not the system but the emotions and psychology of trading. Emotions and trading are very easily overlooked and misunderstood. There are books written on the subject, but most people getting into trading think it is not necessary to learn anything associated with emotions. The truth could not be further in the other direction.
There are thousands of different trading systems that can be extremely profitable if you know how to trade properly. The problem is trading properly does not come solely from learning a trading system. In fact, I believe that more than 50% of the equation is learning to manage your emotions. One of the easiest apologies to compare this with is the blackjack table in the casino.
In order for a trader to succeed, it is necessary for the trader to take the side of the house like the blackjack dealer in the casino. Now on the surface, this seems easy right. Just follow the rules. Well, when you add money to the equations and the money is yours all sorts of things happen.
If you notice at the casino, they remove money from the tables. Everyone uses chips instead of dollars. This is not by accident it is by design, and it works both ways. Removing cash from the table makes it easier for the blackjack dealers to focus on the rules without thinking about dollars. This removes emotion and reduces errors. Blackjack tables have proven odds that produce consistent income for the casinos. All the dealer has to do is follow the rules. This way the dealer is less distracted by money. On the other side of the table, the player loses the advantage by the house taking the money away from the table so it makes it more of a game.
Emotions and psychology are the key components to becoming a successful trader. There are many such examples that can easily be learned that will help your career as a professional trader. At NQ Trader, we specialize in helping students understand and master their emotions. We use real world trading examples to help students overcome the obstacles that stand between the average trader and a successful trader.