If you would like to learn to trade futures really well, then watch this video and download my book: http://www.ilovetrading.com.au/.
Many traders do not realize that Futures trading is one of the fastest growing trading disciplines in the world. Why? The Futures markets, when traded correctly, cannot be manipulated by Brokers in any way shape or form... and I think that is really cool!.
Many beginner traders who want to learn how to trade Futures do not realize that there are effectively two types of markets in the world, OTC and Non-OTC.
MARKET TYPE 1 (OTC). OTC stands for 'over the counter' trading. In this situation, a trader is forced to use a Broker to take their trade, just like a FOREX Trader is forced to use a FOREX Broker.
The issue this trader now faces is that they are trading to and from their OTC Broker, not to and from the actual global markets.
Because this trader is now trading to and from the OTC Broker, this Broker can now manipulate the market, in the Brokers favor, whenever the Broker wants to.
The most popular manipulation techniques include 'stop loss hunting' and 'taking the other side', which is a little Broker secret term for trading against you. The sad thing is, this is an OTC Industry wide problem and extends to CFD's, Options and Binary Options. They are all OTC Markets by their very design.
If you want to read my book on the subject, go to http://www.ilovetrading.com.au/ and download "Binary Options, Scam or Real Trading, you be the Judge". It is free and yours to keep!
MARKET TYPE 2 (Non_OTC). The alternative to FOREX, a Futures Contract, allows you to trade currencies in a Non-OTC Trading environment. This means that you are trading to and from a regulated exchange, like the CME (Chicago Mercantile Exchange), not trading to and from an OTC Broker.
In this Non-OTC trading environment, there are no OTC Brokers, hence there is no one to manipulate the market against you while you are trading. You can learn how to trade Currencies and just get on with the job of being a great trader. You can also forget all about trading currencies using a FOREX Broker, you simply do not need them anymore! I say awesome!!!
Have an amazing trading day!!! Lachlan Elsworth.