FUTURES TRADING IS NOT A JOB OR A CAREER, IT’S A WAY OF LIFE!
A futures contract is an agreement between two parties – a buyer and a seller – to buy or sell an asset at a specified future date… Bla Bla Bla Bla Bla Bla Bla.
Instead of boring you with a bunch of cut and paste sleep inducing facts, which of course many who post them on their sites know nothing about, I will simply tell you the truth.
After 36 grueling years in this insane business of analyzing and trading financial markets, many of those years spent as a floor trader on various Wall Street trading floors, the truth is, Futures Trading is a way of life! Trading futures requires relentless dedication to a constantly changing and reshaping business where the twists and turns come from any and every direction. The markets need to be watched very closely practically every day of your life, nights too! That includes weekends!
So you say you want to be a trader huh? Allow me to tell you how Oscar spends his days. First a tiny bit of background. I am a professional trader / analyst from as far back as 1982. I’ve spent my entire adult life, since my 18th birthday right in the thick of the Futures Trading Industry. Before my 18th year was over I was already working as a “ring clerk” in charge of the order flow of 5 executing floor brokers on the NYMEX / COMEX trading exchange right in the Gold & Silver pits. Thanks to diligent work and the good Lord above, from there with lightning speed, I quickly moved up the ranks. By the time I was 21 years of age I had become an independent floor broker with a huge, busy customer base and president of my own trading company. Adding education to that, I studied the Art Of Technical Analysis at The New York School Of Finance under the tutelage of Professor John J. Murphy which developed into also becoming president of Futures Analysts & Traders, Inc, the Technical Analysis arm of my floor-trading operation. I had spent from 1982 until 2006 working studying and trading on Wall Street Trading Floors. I am not only qualified to describe the life of a trader to you, rather I am an authority at it.
Before you run off and think you are ready for the life of an Online Futures Trader, attempt to learn how to trade futures, stocks, etf’s, etc, seek out and put your trust in a futures trading broker, want to trade or understand how to trade futures options, commodity options or otherwise, be sure you can handle “the life” required to emote the unwavering discipline to be a futures trader.
A typical Sunday for me (a serious trader only has Saturdays off) starts off at about 6:30 - 7:00 am. On those weekends which I do not make it to church to see my lovely daughter Natalie sing in the choir, (I’m not going to pretend I attend regularly as studying for markets has its way of interfering with such things) I do a few sets of pushups on my bedroom floor, hop in the shower and hit the books (one does not go to war weak, unshowered and dressed in pajamas!).
By hitting the books I mean vigorously studying and thoroughly reading, from cover to cover, as much of the weekends financial newspapers as I can get through. Some, but not all of my weekly readings come from The Wall Street Journal, Barron’s Magazine, Investors Business Daily etc, etc, etc. You know the usual suspects I am referring to. I usually spend from the early morning hours until about 4:30 pm plowing through the newspapers while of course, taking notes all throughout. After the “street” knowledge gathering session, I hit the “Main Helm” OMNI desk and start the rest of my Day At The Amusement Park, Technical Analysis! Woo hoo! Time to crank up the music! I never perform the illustrious art of Technical Analysis without loud, energetic music cranking in the background. This portion of my daily roller coaster ride usually requires a three to five hour session of study time, but this time, it’s studying the art of Technical Chart Analysis. It’s like going to Disneyland! Day after day! After I’ve completed my daily OMNI analysis which brings us usually close to about 8:00 pm, I usually place my orders according to the OMNI trading plan (Learn how to construct a professional daily trading plan at one of my Four Day OMNI Camp Seminars https://livewithoscar.com/omni-camp.html) and allow the games to begin.
The typical professional trader (of which there is no other type as traders from Goldmans desk or your makeshift office in the garage, you do not half-ass this craft!) from this point in the evening going forward should have to watch the markets intently so one can witness every wiggle, zig zag or twist the markets incur, for themselves. If you are serious about Futures Trading or want to be a successful futures, futures options, stock or other type of trader, you have no choice except to pay attention AT ALL TIMES! Knowing where the price has gone throughout the day by checking on your smartphone from time to time is not the same quality study as watching the velocity and energy of the daily whipsaws with your own eyes on a big screen, sitting at a desk. Anybody who tells you you can be a successful trader from the golf course, especially those never ending deep discount online futures brokers ads, is outright lying to you. Being a trader for a living, formulating your trading plan, trading that plan flawlessly while maintaining consistency and discipline over the long haul could never happen if attempting this as a part time hobby. If the trading business were simple, easy, or possible with only a few minutes of daily study time, we would all be traders! In fact, there would be a shortage of workers in every industry across the globe except the trading industry. And from what I see, that is not the case!
Back to my first day of the trading week, Sunday. By now it’s getting on about 9:00 pm Sunday evening. I will purposely leave out the endless details of the insane routine which comes next for me personally. I have to study for a YouTube video, film, edit and distribute those videos almost nightly to my social networks and OMNIACS around the globe. I am skipping the details of that process because this article is meant to illustrate how YOU will have to live if you dare to choose a career as a commodity futures trader, day trader or otherwise. Besides, you don’t have to film a nightly YouTube video. That’s what you have Oscar Carboni and the Online OMNI Trading Academy for.
By now it’s about 3:00 am Sunday night sliding into Monday morning. Any trader worth his salt has at least one eye on the markets and the other maybe only half asleep until of course you get a fill, an alert starts ringing or an OMNI Flash Update from Oscar Carboni arrives. Sign up now https://www.livewithoscar.com/register.aspx This ringing alert or Flash Update will likely require order placement or movement. Many fills these days get executed at all unGodly hours of the day and night.
Several times throughout the night into the morning, I (you) must sit up at the trading computer and see what is going on. Pay attention! It’s very important! I literally have a trading computer at my bedside and another full blown multi screen setup in the same room a few feet across from my bed. I surround myself with markets and technology. I (you) must be awake and coherent enough, sleep or not to correctly enter, alter or cancel your orders. Mistakes in this arena are very expensive! I also have to add to my personal routine the sending out of Flash Updates, entering and /exiting my positions or whatever it requires, all night long. Sometimes order movement is required three or four times per evening, several nights per week. Fills will get triggered while you are half awake watching the markets and trying to cat nap with one eye open. If your spouse and household family members can somehow bare your insane nightlife, you might, and I mean just barely might, have a fighting chance of not ending up in divorce court. Personally for you however, the serious trader... your fate awaits. You must completely submit to and accept the altering of your entire lifestyle. One can have no qualms about submitting to a life in which your minute by minute decisions are made according to where the markets are at that moment in time. An unexpectedly busy market erupts... welp, sorry kids! I can’t go. I know we made these plans eight weeks ago but markets have gone bonkers tonight and I can’t just walk away! This is just one example of what’s to come. Make sure you are ready for this. Remember, U.S Globex markets open at 6:00 pm Sunday evening. Once the games commence, markets do not close again until 5:00 pm on Friday evening.
Are you tired? No real sleep? Hey! No complaining! I just started telling you about one of my typical days in the life of a day trader. It’s not even Monday morning yet! Remember, the market has only been open (with no breaks) since 6:00 pm Sunday evening. Futures Markets will not close again until 5:00 pm Monday afternoon. I (you) will have to stay with the markets until they close at 5:00 pm each day. Then get this prize...Markets close for exactly one hour at 5:00 pm Monday afternoon and open up again in one hour at 6:00 pm Monday afternoon. Between 5:00 and 6:00 pm Monday afternoon I (you) must begin to perform your technical analysis, devise your OMNI trading plan (Learn how to construct a professional daily trading plan at one of my Four Day OMNI Camp Seminars https://livewithoscar.com/omni-camp.html) and be ready for the markets to open again at 6:00 pm Monday afternoon. You must be strong minded with iron will and unwavering integrity to be a commodities futures trader. This routine of 23 hour per day market sessions keeps up from Sunday evening clear through Fridays afternoon close, every day, week, month, year, year after year until you decide you have done well enough to either retire and walk off into the sunset or… you get carried out on a stretcher. That fate my OMNIACS will depend upon your discipline and dedication to your craft.
This was a glimpse into my routine Oscar Carboni as a trader / analyst from Sunday night until Monday afternoon. It’s not easy. I kid you not. The weeks are going to be really long for you if you do not love your craft. What can be even worse, if you are not well schooled and well studied in the art of Technical Analysis you will constantly lose your confidence and your money. Do not let this happen to you. Give yourself a fighting chance! SIGN UP FOR OMNI CAMP HOSTED BY OSCAR CARBONI NOW! (Learn how to construct a professional daily trading plan at one of my Four Day OMNI Camp Seminars https://livewithoscar.com/omni-camp.html