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Potential Silver futures trader


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Potential Silver futures trader

  #1 (permalink)
kenjonesr
Houston, TX
 
Posts: 1 since Apr 2021
Thanks Given: 23
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I have been paper trading /SI over the last couple of years in ThinkorSwim and have identified a couple of successful setups. My 10k live account with TDAmeritrade will not allow me to trade futures. Any suggestions on brokers/platforms that I could transfer 10k or less and trade silver futures?

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  #2 (permalink)
 
MNSTrading's Avatar
 MNSTrading 
Grand Rapids, Michigan
 
Experience: None
Trading: Commodities and Russell
Posts: 158 since Nov 2015
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IBKR should do it.

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  #3 (permalink)
 olobay 
Montreal
 
Experience: Intermediate
Platform: MultiCharts
Broker: DeepDiscountTrading.com
Trading: CL
Posts: 364 since Jul 2011



kenjonesr View Post
I have been paper trading /SI over the last couple of years in ThinkorSwim and have identified a couple of successful setups. My 10k live account with TDAmeritrade will not allow me to trade futures. Any suggestions on brokers/platforms that I could transfer 10k or less and trade silver futures?

You won't find much lower margins than this:

https://www.deepdiscounttrading.com/TradingMargins.html

But it's still $17655 to hold a full size contract overnight.

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  #4 (permalink)
 
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 ShadowFox 
CO/USA
 
Experience: Intermediate
Platform: TradeStation, Multicharts
Trading: Stocks, Futures
Posts: 129 since Jun 2020
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Check out SIL E-Micro silver. Looks to be 1/5 of full size silver contract. Margin is around 3600. You could trade 2 and scale up with profits. I have never traded that market but I assume it tracks SI pretty well. No idea of liquidity.

My broker (Tradestation) has SI around 18k initial margin so not possible with them but you could trade the SIL.

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  #5 (permalink)
 myrrdin 
Linz Austria
 
Experience: Advanced
Platform: TWS
Broker: Interactive Brokers
Trading: Commodities
Posts: 1,938 since Nov 2014
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Whereas the daily volume of the regular July contract is approx. 20000 - 40000 contracts this week, the daily volume of the mini contract (1/5 size) is approx. 2000 - 6000 contracts.

You have to check if bid / ask is ok for your trading system.

I assume that you only trade the contract with the largest volume and not contracts further out in time.

Best regards, Myrrdin

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  #6 (permalink)
Mymy
New Orleans
 
Posts: 3 since Aug 2021
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How is it going Ken ? Iím new to this site and saw your post. Curious to see what you decided.

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Last Updated on August 7, 2021


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