• Skip to primary navigation
  • Skip to content
  • Skip to footer
StoneX®

Trade Futures, Spreads and Options with Confidence.

Top Navigation

  • Open a Futures Account
  • Sign Up
  • Log in
  • 1.800.800.3840

Primary Navigation Menu

  • About
    • Who We Are
    • Services
    • Risk Disclosure
    • COVID-19
  • Trade
    • Broker-Assisted
    • Self-Directed / Online
    • Request Pricing
  • Hedge
    • Ag Marketing Plan
    • WASDE Analysis
    • Grain Resources
    • Livestock / Dairy Resources
    • Request Pricing
  • Invest
    • Automated Strategies
    • Managed Futures
    • Request Pricing
  • Advisories
    • GENERAL / FUNDAMENTAL
      • DT Newsletter
      • Insider Market Advisory
      • Turner’s Take Newsletter & Podcast
    • TECHNICAL ANALYSIS
      • The Cullen Outlook
      • Data Feed Trade
      • Jarboe Trading Journal
      • Trade Spotlight
    • AG MARKETING
      • Cattleman’s Advisory
      • Technical Ag Knowledge
      • Turner’s Take Ag Marketing
    • THIRD-PARTY RESOURCES
      • CFRN
      • Moore Research Center, Inc. (MRCI)
      • OptionWorks®
      • TASMarketProfile.com
  • Education
    • CME Group Resource Center
    • CME Group Offers
    • Small Exchange Resources
    • Guides
    • Frequently Asked Questions
    • Order Entry Handbook
  • Blog
    • Futures 101
    • Ag Marketing
    • Tips & Strategies
    • Trading Advisories
  • Resources
    • Trading Software
    • Quotes and Charts
    • Futures Calendars
    • Contract Specifications
    • Margin Requirements
    • Futures Calculator
  • Accounts
    • Apply
    • Access My Account
    • Funding
  • Contact
 

7 Ways To Become the MacGyver of Futures Trading – Tips and Strategies

December 5, 2018 by Daniels Trading| Tips & Strategies

With his genius intellect and humanitarian disposition, Angus MacGyver is the quintessential problem-solver. Whether disarming a nuclear missile using only a paperclip or picking a lock with a Swiss army knife, he gets the job done. If MacGyver decided to enter the marketplace, there is little doubt that his futures trading strategies would be winners (with all proceeds going to charity, of course).

While you may not have to patch the radiator of a 1985 Jeep Wrangler with bubble gum, futures trading often requires out-of-the-box thinking. The following ideas may help you weather a particularly rough stretch in the markets, by any means necessary.

Unorthodox Problem-Solving 101

One of the biggest advantages that active traders have is a diversity of alternatives. At any given moment, there are literally a million different ways to go, both good and bad. While having options is great, it can also be overwhelming. Here are a few offbeat tips that can help keep the execution of your futures trading strategies in top form.

Ready to think like a technical trader? Download our free guide to learn how to identify chart formations and take action when the time is right.

#1 Watch a Sporting Event

Aside from the physical component, the similarities between sports and the markets are striking. Observing a sporting event ― individual or team ― is a stark reminder of the competitive nature of humankind. Watching a sporting contest of any sort is a great illustration of how strategy, skill, and determination ultimately determine success or failure. Many lessons learned on the field translate well to the screen.

#2 The $100 Bill Trick

The high degrees of leverage used in futures trading frequently produce dramatic swings in account value. Subsequently, money often loses all meaning to active traders. One way to reinforce a dollar’s worth is to go to the bank and exchange a $100 bill for singles. Then, count each dollar manually until you reach 100. This exercise is time consuming and frustrating. But, it does prove that a single dollar is tangible and has value.

#3 Put Yourself on the Clock

While having a strong work ethic is a definite plus, constantly searching for new futures trading strategies and scrutinizing charts is counterproductive in the long-run. In the event you find yourself putting in 25 hour days, go buy an alarm clock. Limit pre- and post-market study to a 30 minutes or one hour each. When the alarm rings, you’re finished. This will simplify your approach to the markets and promote efficiency.

#4 Sit on Your Hands

Overtrading is a leading cause of failure for active traders. If you’re compelled to take trades every minute of the day, physically sit on your hands. Placing an order involves a mouse click ― if you can’t reach your mouse, you can’t trade.

#5 How About a History Lesson?

In a time of extraordinary account drawdown or build, it’s easy to lose sight of the big picture. A history lesson can put wins and losses into perspective. Stories about war, spectacular success and market panic remind us that there’s truly nothing new under the sun.

#6 Pick up an Instrument

Successful trading involves many skills, both analytical and creative. The ongoing dialogue between the right and left brain plays a key role in strategy execution and development. Attempting to learn a musical instrument can facilitate creativity by opening up the right brain. If your trading feels stagnant, picking up a guitar or tickling the ivories may give it a much-needed shock.

#7 Turn down the Heat

Physical discomfort has a way of sharpening our senses. Sometimes, keeping the home office at a balmy 72℉ can lull a trader into a false sense of security. While it’s not necessary to take the ice-bucket challenge, cranking the thermostat down can pique your senses and awaken your neurons from their slumber.

Which Futures Trading Strategies Are Right for You?

MacGyver’s ability to use unconventional thinking to solve problems served him well in the 1980s — and even today, with the 2016 reboot. While most futures trading strategies don’t require you to disarm an IED with a hair barrette, being able to adapt on-the-fly is a talent worth cultivating.

For more information on how to develop your trading skills, check out the educational suite at Daniels Trading. Blogs, webinars, and expert advice are all at your fingertips, ready to help take your game to the next level.

Ready to think like a technical trader? Download our free guide to learn how to identify chart formations and take action when the time is right.

Filed Under: Tips & Strategies

About Daniels Trading

Daniels Trading is division of StoneX Financial Inc. located in the heart of Chicago’s financial district. Established by renowned commodity trader Andy Daniels in 1995, Daniels Trading was built on a culture of trust committed to a mission of Independence, Objectivity and Reliability.

Risk Disclosure

The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI does business as Daniels Trading/Top Third/Futures Online. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI.

Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX group of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.

© 2023 StoneX Group Inc. All Rights Reserved

Subscribe To The Blog

Footer

Site Navigation

  • Frequently Asked Questions
  • About Us
  • Customer Reviews
  • Contact Us
  • Futures Blog
  • Open a Futures Trading Account
  • Media Resources
  • Fund Your Account
  • Legal Notices

Contact Us

StoneX Financial Inc.
Daniels Trading Division
230 South LaSalle Suite 10-500
Chicago, IL 60604
+1.312.706.7600 Local / Int'l
+1.800.800.3840 Toll-Free
+1.312.706.7605 Fax

Connect with Us

Trustpilot
Risk Disclosure

The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI does business as Daniels Trading/Top Third/Futures Online. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI.

Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX group of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.

© 2023 StoneX Group Inc. All Rights Reserved

  • Risk Disclosure
  • Privacy Policy
  • California Residents Privacy Notice
  • Terms of Use
  • Back to top