After reading some informative inputs by WO members, I have seen a parallel from a book that I ve read some time ago, titled - "Wizard of Markets," The Author specifically interviews top/legendary traders who made it big in the stock market. The important thing i noted from most of the interviews and also from an anonymous trader (since he liked to respect his privacy), that there is no general rule of thumb in trading. All traders who began with zero to no expertise in the field, speaking for them, most of them had totally different backgrounds. They were all floor traders (which is the way the used to trade in the olden days).

All of  them lost money in the first few tries. Then, when they developed their own technique through their own analysis - whether fundamental/technical or just one of them or none. They made consistent wins.

Two things i noted also from the book

1) They never over trade
2) They always had a journal - which helps learn their own state of mind before analysis & trade and after.

Slowly, their balance went to millions and colossal percentages of returns.

So, it is just learning key techniques, implementing them. Finding your own way of trading - Without self-doubt, which is the key part of emotional discipline. This I think is the most important part of trading.

Overall discipline is also considered as key here. Which again, has no general rule of thumb since we are all different in our ways.

One thing I'd like to add here is that we now have various tools to back test our trading. Like paper trading (without risking real money), you can also get historical data and such from tradingview etc.

I guess these points which I have noted and which helped me in my journey will benefit the futures trading novices.



    “Do not follow where the path may lead. Go instead where there is no path and leave a trail.”
    – Ralph Waldo Emerson