Future Trading Charts

Future Trading
Charts
By
www.ProfitableTradingTips.com

Both day traders and those trading
on a longer timeline commonly use
future trading charts to guide their
purchases and sales of futures
contracts.
http://profitabletradingtips.com/trading-investing/future-trading-
charts

Whether one trades stock futures on,
commodity futures, or Forex futures,
the use of future trading charts
provides an overview that is
essential.
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No matter which day trading strategy
one chooses to employ, future
trading charts make technical
analysis of price patterns possible.
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By accessing market sentiment,
traders are often able to gain higher
profits and limit losses in both quiet
and volatile markets.

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Lighting a Candle in
the Darkness

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The Christian Bible tells that it is
better to light a candle than to curse
the darkness.
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Another great world culture, Japan,
gave us candlestick trading, a means
of providing light to those trading in
confused markets.
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Japanese candlesticks, the trading
kind, are rectangles superimposed
on an equity price chart.
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The top and bottom of the rectangle
tell us the opening and closing prices
of the day.
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When the market opens low and
closes higher the rectangle, called
the candle, is white.
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When the market closes down the
candle is black.
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The entire range of trading for the
day is demonstrated by lines
extending above and below the
candle.
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These are the shadows of the
candle.
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The point of using the old Japanese
candlestick method or modern but
similar technical trading methods is
that market price patterns repeat
themselves.
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There are any number of potentially
profitable day trading strategies in
which traders use future trading
charts based on candlesticks or
candlestick principles.
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Keeping Track as
Well as Predicting
the Future
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There are two valid uses of future
trading charts.
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The first is to have a clear idea of
what you are doing when trading
futures.
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Traders keep abreast of
fundamentals that drive prices and of
market sentiment of the moment.
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Following prices without future
trading charts is trading in a vacuum.
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Following prices with future trading
charts is trading in context and
commonly more profitable and less
prone to error.
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The other valid reason to use future
trading charts is to audit one’s trading
results.
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Smart traders keep track of how they
do.
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This is not just a matter of reviewing
trades when losses occur. It has to
do with always seeking to improve
performance.
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Traders audit results and they audit
process. Results tell us if we
succeeded or failed.
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Auditing process helps traders
improve their game, make more
money on subsequent trades, and
learn ways to hedge trading risk and
limit both the frequency and amount
of losses.
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Facts, Not Attitude
Lead to Profits

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Often times a contrarian approach to
day trading futures is viewed as a
negative view of life in general.
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This is not really true.
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A smart trader uses future trading
charts to follow the market, assess
market sentiment, and compare what
he sees in price patterns to market
fundamentals.
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When market pricing does not jive
with what the fundamentals ought to
dictate, a smart trader often takes a
contrarian view of the current market
and places his or her trades
accordingly.
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Future Trading Charts