Brokers & Charting
What are futures?
Contract agreement to buy or sell a specific commodity/index at a predetermined price and time. Futures markets include SP500, Nasdaq, Oil, Wheat, Gold, and others. Futures are contracts being traded, while stocks represent shares of ownership within a company.
What is Futures Networks Live (FNL)?
Futures Networks Live is a membership organization where non-professional market speculators enjoy social networking & collaborative market evaluation of futures markets & indices. The goal of FNL is to provide a user friendly environment to collaborate, share and build relationships with other traders while expanding the traders knowledge and confidence when taking trades. Find your Zone!!
Why should I learn to trade?
Trading gives an individual the opportunity to exponentially increase leisure cash on his or her own time with the click of a button. KEYWORD: OPPORTUNITY- no guarantees for performance can be made. You will have to put in the effort and still risk the overwhelming odds of failing in the world of futures trading. At FNL we strive to break the success barrier for all of our members and guide each and every one into being a profitable trader.
How much risk capital will I need in order to join FNL & begin trading?
Between $3-5K total: FNL registration & membership dues ($800-$1,600) Charting software of your choice (Free-$1,000+) Funding your trading account from which you will trade ($500-$3,000+) (FNL does not provide charting software or brokerage services.)
Can I observe and check out the live trading room to determine if I want to join FNL?
Yes, you will have a trial period to watch live trading sessions with a live chat which our members attend daily. You can determine for yourself how we operate and whether or not FNL successfully functions as a whole. Fill out the brief Contact Us at futuresnetworks.com/contact_fnl tab on the web page and a representative of FNL will reach out.
Are new traders welcome?
Yes, FNL has multiple presenters/traders that have years of experience working with traders of all skill levels. FNL has a "Trader Creator" program intent on building a foundation for traders to move forward from scratch by focusing on Position, Situational Awareness, and Risk Management (PSR). New traders have yet to build any bad habits and at times are easier to help than a trader who "knows how to trade", but is losing money. FNL helps its traders mitigate the inherent risks associated with trading. Most of us plan to continue trading and improving forever.
Is this group suitable for an experienced trader?
Yes, we all collaborate to succeed in the markets. Whether successful or not, any level trader will love the friendly/fun environment in which everyone is helping each other succeed. We have different presenters, each with slightly different styles of trading, to help every trader find and expand his or her own zone and trading style throughout multiple markets At times we will have reputable traders from the outside brought in as guest presenters to share their own ideas with our group and help expand or refine trading for members. The sky's the limit with our wealth of trading knowledge.
Can I use any charting service/broker?
Yes- most FNL members trade with NinjaTrader or Ensign charting services, but you may use any charts or broker you prefer.
Do I have to pay for charting software?
Yes, you pay for a current data feed from the CME and/or CBOE as well as the charting software of your choice. These are your tools used for trading and will assist you throughout your trading career.
Why should I trust that your trading method works?
Because we don't have a standard "method". Our "method" is to have traders understand Position, Situational Awareness and Risk Management. No super secret "trade signal". We have a standard method for each member to be able to practice and learn to succeed by learning from multiple successful traders in live daily sessions. FNL members have over 100 years of futures trading experience and knowledge between them to compare strategies on a platform in front of the group. We collaborate in live chats to determine and share with each other a combination of trading knowledge and risk management strategies which will help to create a successful trader. Every member will trade and see the market slightly differently, so finding a one-size-fits-all cage to stick traders in proves difficult as they progress past the foundation they have developed. The shoe that fits everyone is the support within the group itself while learning Position, Situational Awareness and Risk Management. FNL caters to anyone from the newbie off the street to the advanced trader who may want to expand knowledge or learn other markets.
How will I know I am ready to trade after joining/learning?
You will have assistance every step of the way. Every member's individual success is important to our group as a whole. You'll have unlimited access to live trading sessions on live markets by our PRESENTERS that span the entire day. Also, you get both a simulator and playback option with your charting services to practice everything you learn with artificial money on a live market, as well as backtest any day over the last 10+ years. You will build your own track record of practice trades to prove to yourself that what you have learned is working before you ever trade with live money.
Will I be able to learn outside of live sessions if I work or have other needs that limit my schedule?
Yes, We have live sessions from sun up past sundown daily- Sunday (evening) through Friday afternoon. These sessions are recorded at times of vital information for future learning and the Trader Creator Knowledge Database will be available 24/7 for traders.
Is there One on One Coaching Available?
At the current time we are not offering one on one coaching, but we would encourage you to come into any session and ask questions.. We can create break out rooms for specific "one off" questions.
What if the Trading content being broadcasted is out of my skill level?
There will be break out rooms hosted by experienced traders that will be focused on the new trader and developing a foundation based on PSR (Position, Situational Awareness and Risk Management)
Are there opportunities for a member at FNL outside of just trading?
YES!! FNL is a member driven group that is not controlled by one person, but a group of traders. FNL is always looking for members to moderate sessions at any level. Our goal is to not only support and collaborate with our member traders in their trading, but also to foster growth on other levels that appeal to them and their strengths.. Through everyone's skills and strengths our member driven group will grow by leaps and bounds.
What futures contracts does FNL trade?
Currently FNL has a focus on the ES (S&P500 emini) MES (Micro S&P500 emini), NQ (Nasdaq) and the MNQ (Micro Nasdaq). As the group grows and traders with experience in other areas join, FNL will look to broaden its offerings (ie Options, Long Term Investing, etc)
Is the FNL group exclusive to futures trading?
At the current time, FNL focuses on Futures, but as FNL grows, we will be expanding our offerings. This is a member driven group and we will look at all financial instruments to learn and collaborate, based on the members' wants.
Do FNL Hosts/Moderators call trades for its members?
No, at FNL we are NOT trade callers.. We do collaborate on potential trade setups, but ultimately it is up to the trader to make personal trading decisions. Our goal is for traders to have confidence in their trading decisions, not based off a Host/Moderator but off their own track record which has shown a level of success.
How fast can I start making money trading?
Everyone has a different timeline on when they should expect to trade with live money. Our recommendation is you Simulate and Playback (trade days in history) to compile a minimum of 250 tracked trades based off of PSR and the risk management strategies for a new trader. Once you have 250 trades and have maintained a level of profitability, you will look to trade with live money at the accepted risk management/position sizing that is applicable to your account size (typically no more than 5% of your total account on any one trade)
Is there a chance I can lose money trading?
Yes. Winning a trade 100% of the time is not realistic. What is realistic is maintaining proper risk management. With the risk management strategies shared, you will learn to minimize your losses and maximize your gains- the goal of every trader!
Can I learn to trade if I work full time during NYSE (New York Stock Exchange Hours)?
YES! Alot of our traders started by learning to trade off hours, either when they got home from work or before work. The futures markets are on the CME (Chicago Mercantile Exchange), the oldest stock market in the US. The CME operates on a global scale, so you can trade 22 hrs a day, 5 days a week (Sunday night to Friday afternoon). In addition, using the replay/playback function on your charts, you can practice your trading on the weekends when there is no live market going.
How many hours a day do I need to trade to be successful?
You can trade ONE hour a day to as much as you would like (22 hrs a day available trading). We have members that take one trade at Opening Bell of the NYSE and they are done for the day.