Good Evening, Traders!
Another weekend is coming to a close, but that means it’s time to get ready for a full week of trading futures!
For this edition of the Daily Direction Weekly Prep segment, I’m going to talk about how to pick the right futures broker.
A brokerage service is how we place trades in the market. When you go to buy or sell a stock, option, or futures contract, it’s the broker that makes all the magic happen behind the scenes.
Choosing the right broker is one of the first steps in becoming a trader. And for the full details on how to get started, read this article I wrote before you go any further.
Now, not all brokers are created equal. Depending on your trading strategy, some brokerage services will be better than others in helping you realize your trading goals.
I’ve put together a quick video to help you pick the broker that’s right for you. You can watch it in the section below.
And remember, for more information on how to become a better futures trader, check out my resources! I’ve spent years perfecting my strategy and I’m here to share with you what I’ve learned so you can start making money with futures trading. So what are you waiting for? Get started now!
Choosing the right futures broker
A futures broker negotiates contracts for the selling of goods or securities at a defined price on a fixed date in the future. Futures brokers typically earn a basic salary as well as a commission based on transactions.
But how does a futures broker make it simple to buy and sell contracts without being a producer or manufacturer?
This article can help you get started. When looking for a futures broker, you need to ask them these critical questions.
Mindset Advantage: Execute
In the end, trading is about execution. A detached, matter-of-fact execution that takes into account market data. It’s those darn emotions that get in the way.
What if you were able to execute every trade like you were cleaning up after a great meal with friends or family?
Instead of each entry or exit being the heart-pounding, drama-filled moment that it is (for many) – remove your emotions and treat it as though it just needs to be done.
Like taking out the trash, you don’t think about it. You don’t shed any tears over the 5-day old ravioli or hamburger buns that you’re throwing away. Why waste another second on that trade?
Good or bad. Simply execute. And free yourself to see the market from a different point of view.
Keep On Trading,