We will post new questions and answers on a regular basis.
The Most Frequently Asked Questions of Ross Trading:
This is a tough decision. Actually, each of the books was purposely designed to teach a different concept, so you should plan to read them all. You will get a more complete education in trading than that offered by anyone else in this business. Joe Ross wrote Trading by the Book first, so you might want to start there. Another good one to read first is Trading Is a Business.
We are not allowed to recommend one broker over another without being accused of soliciting. But we can have our own broker call you. Brokers come and go, just as traders do, and from time to time we have to change who we use. Probably the most important thing to a trader is the ability to get good fills. With the discount brokerage war, it is important to remember that the lowest price in town is probably not the best. If a good broker can save you one tick on a fill, it's better than paying $15 a round turn and getting slipped a tick or two. Think about it. If you daytrade the S&P at $15 a round turn, and get slipped one tick in or one tick out, you've just paid $40 a round turn. The best brokers have high standards and normally stay away from retail business. It's also important to know how to give a trading order. Pros build entire strategies using trading orders like the ones we teach in our course Trading Order Power Strategies. We designed and produced it because even people who have been trading for years don't know how to give an order. They don't know how to build strategies around order giving. They don't understand the concept of using orders as tactics in their trading.
We get asked that question a lot, and quite frankly the answer depends on your self-discipline. What is a living? For one person, it is $30,000 a year, for another it is $200,000 a year, and for others it's a lot more than that. We have no idea how much money you have or how much you're able to risk. A good trader can make over 100% on his money a year, but another equally good trader might be lucky to make 30% a year. The real crux of the matter is what is a living for you, and what are you willing or able to do to earn it. That's why we're here, to help you gain the knowledge and skills to make whatever YOU consider to be a living!
The truth is there is no real answer to that question. It depends on how you want to get started. Do you want to start by getting an education before you go out and risk your money? A lot of people are just gamblers. They get into this business without knowing anything and they throw five grand at the market, lose it, and then disappear into the shadows. We never hear from them again. But we suggest that if you have $5,000, you invest a good part of that into your trading education. You need to build a foundation of knowledge before you ever place a trade in the market. Trading is a business, and you don't have a prayer of a chance of succeeding in ANY business without learning the mechanics and operations of the business FIRST. Most people who ask this question mean, "How much money do I need in my margin account to get started?" If this is what you are really asking, then you do not have the proper knowledge to succeed and you are guaranteed to lose any amount you have. Learn first, then apply what you have learned and succeed.
This is a very interesting question and one a lot of people ask. The answer is, trade the ones you are most comfortable trading and where you make the most money. For some it is one market and for others it's another. You can make a career out of daytrading the stock indices. You can make a career out of trading options in the Bond market and have to trade only three or four times a month. The idea is to trade in a way that works for you. You need to find your comfort level and the amount of activity that makes you happy. You also need to explore the various markets relative to your comfort level and your financial goals. Are you going to be an intensive trader, or a more casual, laid-back trader? In our books, seminars, and private tutorings, we'll help you make those decisions. We're all different with different needs, and Ross Trading presents you with a tool box full of trading methods and techniques. You need to know how to trade when a market is trending and when a market is moving sideways. You need to know how to trade an exploding market and how to trade a collapsing market. You need to know how to trade when a market is fast or when it is slow, when it is highly volatile or when volatility is low. You need to know when to combine options with futures, and you need to know when a market is seasonally right for trading. Our courses teach you about all these factors and how to handle each situation. Each book is designed to present you with a different aspect of the market and the tools for trading that aspect. We will give you the most complete trading education available anywhere in the world. It's a sort of "Traders' University," but you have to take it one step at a time. We will guide you step by step through a complete trading education. It will be an investment on your part - an investment of time and money, but we guarantee you will get the most complete education in trading available anywhere today.
Our books are actually full-blown trading courses. Each is designed to deal with a different aspect of trading. These are not books that try to teach you some magic indicator. They teach you how to trade the markets and make money doing it. You're looking right over Joe's shoulder at real trades made in real markets. You are told when, why, and where the trade was made. You are shown his thinking when the trade was made. You see how, when, and why he got in and how, when, and why he got out. We get letters and calls all the time telling us that our courses are worth their weight in gold.
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We will post new questions and answers on a regular basis.