Position
trading
is
type
of
trading
that
people
of
patience
use
for
creating
wealth.!
These
people
have
the
stamina
to
wait
out
the
peaks
and
valleys
while
they
hold
on
to
an
instrument
that
is
totally
[from
all
indications]
over
sold
. .
.
once
the
turn
in
direction
is
empirically
determined.
For
example,
at
this
writing,
December
1st,
2013,
Coffee
is
significantly
oversold
but
has
begun
to
show
bullish
strength
over
the
month
of
November
after
week
following
week
of
selling
for
years
and
months.
At
around
100,
coffee
is
lower
than
any
time
in
history
since
the
Carter
Administration
and
may
be
longer
because
my
Tradestation
only
goes
back
to
1978.
During
the
35
years
in
between
then
and
now,
Coffee
has
risen
to
450
twice
and
350
about
5
times.
Coffee
trades
at
$375
a
point,
so a
10
point
move,
which
it
has
gained
since
early
November
is
$3,750,
a
hundred
point
move
could
be
$37,500
per
contract.
It
requires
margin
of
just
under
$2,000
to
hold
over
night
and
over
month,
so
the
only
thing
you
need
to
be
concerned
about
is
which
contract
to
hold
and
when
to
roll
it
to
the
next
contract.
Brazil
is
the
leader
in
world
coffee
production
and
Viet
Nam
is
runner
up
but
Viet
Nam
had
no
coffee
production
prior
to
1990.
It
takes
a
considerable
number
of
coffee
bushes
to
produce
one
pound
of
coffee.
And,
for
your
own
amusement,
a
rail
car
holds
37,500
pounds
of
coffee
and
that
is
what
one
contract
is
based
upon,
so,
if
you
want
to
know
more
about
coffee
or
any
other
commodity,
it
is
all
out
there
on
the
internet.
Just
Google
it
from
here
Below
is
duplicate
from
the
Swing
Trading
Forecast
page.
Unless
you
really
want
to
complicate
your
life
too
soon,
let
me
suggest
you
put
this
option
off
for
a
while
. .
.
while
you
learn
to
do
just
one
aspect
of
trading
really
well.
Choose
which
one
you
want
to
do!
Then,
embrace
that
element!
Practice
your
chosen
method
every
day
until
you
are
consistently
adding
to
your
brokerage
account
every
day
while
you
extract
excess
gains
[those
funds
not
required
to
maintain
your
trading
cash
inventory].
Ask
your
broker
to
mail
you
a
monthly
[at
first]
then
a
weekly
check.
What
you
take
out
of
your
account
regularly
is
your
actual
measure
of
success.
For
example,
If
you
are
not
able
to
regularly
extract
$500
a
month
you
are
not
yet
successful.
When
you
are
able
to
request
a
$500
check
each
week,
you
are
successful...
each
week,
meaning
3
out
of 4
weeks
a
month,
2
out
of 3
months
every
quarter
for
a
year.
This
is
success!
Anything
short
of
it
is
NOT!
For
example,
if
your
are
successfully
trading
a 3
contract
lot
and
sometimes
doing
two
3
lots
at a
time,
you
need
only
so
much
in
your
trading
account.
How
much?
Well,
off
hand,
I'd
say
you
will
need
about
$15K.
But
you
don't
need
to
start
off
with
that
level
of
account.
You
can
start
with
only
$5K.
Leave
the
other
ten
in
an
account
from
where
you
may
quickly
add
to
your
trading
account
when
it
gets
kicked
in
the
chin!
So,
start
slow
. .
.
start
on
the
NinjaTrader
simulator.
Trade
on
the
simulator
until
you
are
so
skilled,
that
your
simulator
account
has
grown
to
double
. .
.
double
from
$5,000
or
$10,000
where
you
start
it.
The
"factory"
provides
you
way
too
much:
a
$100,000!
Overkill!
I do
not
care
how
much
you
are
worth
financially.
I
believe
all
aspiring
traders
should
start
from
the
same
root.
If
you
are
rich,
pretend
you
are
not
rich.
Act
like
every
other
want-to-be
and
start
with
a
modest
account.
Most
brokers
will
allow
you
to
start
with
$3,000.
That
is
enough
to
intraday
trade
instruments
set
at
$500
intraday
margin
requirement,
like
eMini
S&P
or
perhaps,
the
Euro
Future;
however,
if
you
want
to
trade
light
sweet
crude
oil,
you
will
need
$1,000
per
contract
for
intraday
trading.
With
that
$3,000
account
you
cannot
do a
three
lot
in
oil!
So,
$5,000
is
better!
Do
not
hurry
into
trading
too
many
contracts
or
too
frequently
during
the
day!
Concentrate
on
one
or
two
hours
a
day
during
the
best
time
of
day
to
trade
your
chosen
entity.
