Get rich day trading – it’s the dream of many. I’m here to tell you that while there is no easy way to get rich, day trading is about the easiest you’ll find. In this article let’s go through some options as a new futures trader – how to get capital to trade, what to trade, what you can expect for getting rich day trading.
I will mention though day trading and futures trading is risky using your own money, please read the disclaimers at the bottom of this article.
What is Futures Trading (Commodities Trading)?
Futures are contracts for the future price of various commodities and instruments. There are a variety of categories of futures: agriculture products, precious metals, equity futures, interest rate futures, softs and a few others.
Within each of these categories lie the individual products you can trade. Below are a few examples:
- Agriculture: lean hogs, cattle, wheat, corn
- Precious metals: gold, platinum
- Equity futures: S&P 500, Dow Jones
- Interest Rate futures: US Treasury Bonds and Notes
- Softs: cotton, coffee
Out of all these products, the equity products are the most popular amongst day traders. There are 2 main reasons for this: people understand them and they move more rapid than other products.
The main 3 contracts traded within equities are ES, YM and NQ. NQ is by far the most “wild” of these, and has the biggest potential for easy profits, but also easy losses.
I recommend visiting the CME Group official website to learn more about the various contracts and products.
Now that you know what can be traded, WHAT is futures trading?
Futures trading, what you actually do, is trade contracts for these products. Much like stock trading, you are deciding if you think the price will go up or down. You can go long (buy) and short (sell).
One of the big advantages of the futures market is it trades 23 hours a day 5 days a week.
So your job, day trader, is to buy and sell contracts based on what you think will happen in the near term. How do you find out? That’s outside the scope of this article, as there’s a lot of ways to decide your trading style and making decisions.
You might be saying “But I don’t know much about trading!” That’s okay! Luckily there is a lot of FREE resources online to help you learn how to trade. In fact I recommend NOT paying for trading information. utilize YouTube and free websites like mine (my free trading course here).
Free Money For Trading Futures
Trading your own capital can be extremely risky. Luckily there are options available to trade OTHER peoples money, specifically prop firms. They put up the money, you do the trading. You get to keep the majority of the profits, they keep 10-20% of your profits as their fee for you using their capital. Simple as that. I highly recommend this route.
Did I mention yet I’m funded with multiple companies, over $3.2 million (yes you read that right!). Companies have provided me with the capital to trade, and I withdraw profits weekly. Simple as that. All from home. No bosses, no meetings, no minimum hours.
By the way, in April 2022 I bought a new Porsche Macan with my profits just from the prior months. In August I bought a new Jeep Wrangler Sahara. Both vehicles paid in full. All from day trading futures profits.
As well my $1.3 million dollar home is paid for in full. As is my. $1.2 million penthouse downtown.
Don’t believe it? Here’s a video of both vehicles. Porsche & Jeep
How Much Money Can You Make Trading Futures Contracts?
The short answer is UNLIMITED. There’s no earnings maximum. It’s a win-win for you and the companies who are funding you. Most companies offer a 90/10 split, meaning YOU keep 90% of the profits! Make $100,000, you get paid $90,000, the company funding you keeps $10,000 as their fee for providing you the capital. The more You make, the more you both make!
Futures trading has uncapped earnings, really you can make as much as you possibly can trade. There’s many multi millionaire traders out there, trading the prop firms moneys.
How To Choose A Funded Futures Prop Firm Program
There are several choices in the funded futures trading world. They only continue to grow, unfortunately. I say unfortunately because now there are many new “flash in the pan” companies which have no proven track record. I’ve passed evaluations with every single firm I put on my website, and you can find all my Reviews of Funded Futures Programs here, and you can find Deals and Promos on Funded Futures Programs here.
Summary
Trading futures is a great way to earn a living working for yourself from home. It can be risky, but once you learn the products, how the markets work, find your most favorite product and sign up with a trading prop firm, you’ll be on your way with low risk and huge upside potential to get rich day trading futures contracts.
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Risk Disclosure:
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure:
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight.
In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
You can read more here: Risk Disclosure
Affiliate Disclosure:
The external links on my site and in my video descriptions to trader evaluation companies and software companies are primarily affiliate links. I earn a commission from these companies on any sale made from people visiting these links. That said, I only recommend companies and software I personally use and actually do recommend. Believe me, I turn down a lot of companies who approach me. You can read my full Affiliate Disclosure here.
Additional Disclosure:
The content provided is for informational purposes only. I do my best to keep the content current and accurate by updating it frequently. Sometimes the actual data, rules, requirements and other can differ from what’s stated on our website. CanadianFuturesTrader.ca is an independent website. You should always consult the rules, faqs, knowledge base and support of any of the websites and companies we link to or talk about on our site. The information on their site will always be what ultimately dictates the current rules of their program, software or other. While we are independent, we may be compensated for advertisements, sponsored products, or when you click on a link on our website. The contributors and authors are not registered or certified financial advisors. You should consult a financial professional before making any financial decisions.