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What all does your service include?
Is trading futures an easy way to riches?
What is the most important component of a trading strategy?
What are your trading "secrets?"
If you are such a good trader, why don't you just trade; why do you sell your service?
How much money does it take to get started trading futures?
What kind of a trader are you?
How do I go about choosing a broker or brokerage firm?
Should I trade futures with my "grocery and rent" money?
What are some good books to read, regarding futures trading and success in the business?
Why should I choose your service over the others in the industry?
Who are the people in this industry you respect the most?
Who are the people in this industry you respect the least?


1. What all does your service include?
“Jim Wyckoff on the Markets” includes a comprehensive Daily Markets Update that is emailed to you Monday through Thursday. Every major futures market traded in the U.S. is covered and analyzed in this report. I also give each futures market my special rating. Every Friday, you will receive via email Wyckoff’s Top Trading Opportunities, whereby I provide my top three trading opportunities for the upcoming new week, including specific entry points, stop placement points, support and resistance levels and other important analysis. Twice a month, you will also receive via email my bi-weekly newsletter, which includes about 10 markets (including their unique analytical charts) that I have chosen to focus upon. In the bi-weekly newsletter you will also find an educational feature that will help move you up the ladder of trading success. My mission is to provide you with these important components: comprehensive yet easy-to-understand market analysis, specific trading opportunities, and continuing education so you can become a better all-around trader in your own right. (See real samples of each part of my service in the left-hand column of this page.) The price for my service is $34.95 per month, or $89.95 per quarter, or $299.95 per year. You save about 25% if you sign up for the yearly subscription.


2. Is trading futures an easy way to riches?
No. Like any profession, obtaining success in futures trading requires hard work, patience and discipline. And like other professions, futures trading is not for everyone.


3. What is the most important component of a trading strategy?
Money-management. You must limit your losses on losing trades, use protective stops and not succumb to the temptation of pulling a protective stop to let a losing trade ride "just a little while longer." What many do not realize is that during most years even the best professional futures traders in the business will have more losing trades than winning trades—but still be profitable. The key is to cut losses short on the more numerous losers and let the profits on the winners ride.


4. What are your trading "secrets?"
I don't have any. What I do have is a strong work ethic, years of experience and sheer determination to succeed in a very challenging, yet fascinating business. Be wary of anyone that tries to sell you "secrets" in this business.


5. If you are such a good trader, why don't you just trade; why do you sell your service?
I am a journalist by formal training, and I truly enjoy the communication aspects of publishing a newsletter and daily report. I enjoy the interaction with my customers—and I think those who have talked with or emailed me would agree that I enjoy discussing trading and markets. I also enjoy being a mentor to those seeking more knowledge. Sure, I love trading, but that's only part of the reason I do what I do.


6. How much money does it take to get started trading futures?
You can start trading with $5,000 or even less if you use strict money management and a very conservative trading approach, including purchasing options on futures or trading on the Mid-American exchange, a division of the Chicago Board of Trade, which employs smaller-size futures contracts.


7. What kind of a trader are you?
I am a very conservative trader who believes that survival in this very challenging arena is my first objective. After survival comes success. I rely mostly upon technical analysis, but also follow the fundamentals in markets. I don't have any specific number of trades I have to make during any given year. I'm from the "old school" of traders who rely upon traditional chart analysis. "Getting back to basics" is the key to trading success, in my opinion. Jesse Livermore, Richard Wyckoff, W.D. Gann, R.N. Elliott and Charles Dow never needed powerful computers to achieve trading success. Thus, any computer-generated technical signals I employ in trading are "secondary" trading tools, as opposed to my "primary" tools that include the basic chart patterns and trend lines.


8. How do I go about choosing a broker or brokerage firm?
That depends on what you want in a broker. If you want fundamental market research, personal interaction and counsel, then a full-service brokerage is probably your ticket. If you have access to market data and don't need the research and the more personal touch, a discount brokerage is probably the way to go. As for an individual broker with a full-service or discount brokerage, make sure you interview him or her before you sign on. Remember, it's your money and they are there to serve you. Your broker should not make you feel uncomfortable in any way, including asking any types of questions. And if your broker does make you feel uncomfortable, it's time to find another broker. This industry is chock-full of high quality brokerage firms and individual brokers. But like in any industry, there are a few "bad apples" around.


9. Should I trade futures with my "grocery and rent" money?
No. Psychology plays a big role in trading success. When a trader has the huge pressure of producing winning trades right away, in order to pay the bills, that creates a very negative psychological environment for the trader. Success will be very difficult, if not impossible, to achieve under those circumstances. You should only trade futures with money you can stand to lose.


10. What are some good books to read, regarding futures trading and success in the business?
For the beginner, there is a book called "Starting Out in Futures Trading" by Mark Powers. A fun book to read about successful traders is "Market Wizards" (2 editions) by Jack Schwager. The two best textbooks on technical analysis and trading are: "Technical Analysis of the Futures Markets" by John J. Murphy, and "Technical Analysis of Stock Trends" by Edwards and Magee.


11. Why should I choose your service over the others in the industry?
You should choose my service because I take pride in my work ethic and in my honesty.  Because for the money you pay for my service, you get high quality and quantity—and you have easy access to me via a phone call or email. Because I broke into this industry by working right on the futures trading floors, and learned by interviewing (as a journalist) the best traders and analysts in the world. Because I won't sidestep or "sugar coat" the tough questions that are sometimes asked by customers. Because I'm a regular guy. I work very hard at my job, but I do have a life outside of work. I'm not some "pencil-neck" with pop-bottle glasses that sits and stares at his computer screen 24 hours a day. Finally, if anyone does not like me or my service, I'll refund the unused portion of their subscription.


12. Who are the people in this industry you respect the most?
I respect the people in this industry who are honest and that work hard. Just to name a few: Glen Ring, Ken Seehusen, Darrell Jobman, Steve Moore, Stewart Taylor, Steve Briese, Linda Bradford Raschke, Joe DiNapoli, John J. Murphy, Jack Schwager. These are all people I know work very hard to be successful in this challenging field. I worked for Merrill Oster for over 15 years, and he is also a man of integrity—and also one heck of a futures trader. And I cannot forget William T. Wooten, the man who brought me into this business right out of college. Last but not least, Merlyn VandeKrol has helped me tremendously on the business and marketing aspects of this business.


13. Who are the people in this industry you respect the least?
The people I respect the least in this industry are the ones who cheapen the craft of futures trading, the ones who make this business out to be some easy "get-rich-quick" scheme, and the ones who are "slick" or dishonest.


If I've missed one of your questions, drop me an email. I answer any and all email from my readers. My email address is jim@jimwyckoff.com.