Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
That is a narrow view of a brokerage firm. A customer is an ASSETT to the brokerage, therefore one MUST help the customer and not encourage him/her to overleverage or open small accounts when you know there is no chance.
If I have the chance to talk to those who establish accounts with us, I give them the 5 minute "pitch" of who survives the game and I feel it is my responsibility to be as such.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
It's great that you do what you can to make sure new clients don't get in over their heads MattZ. I wouldn't say that all brokers are the same. I don't think Mirus is a bad broker, they are great. Don't you think the ultimate responsibility for making the decisions that will keep them trading lies with the individual trader though? There is only so much a broker could do.
I always respect those who are professional in my field.
The ultimate responsibility is naturally with the customers, but there is another aspect to being a broker.
Being a good broker today must extend being nice, customer service friendly and knowing the platforms that are carried.
A broker, if has a chance, should also give guidance to customers as far as the right use of leverage, the frequency of trading, and/or anything else that is within the comprehension of the customer at that stage. Customers could be nurtured into the right behavior as traders, so one day they would hopefully have a chance in this hard game of trading.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
1. Did you cut your losses quick? Sometimes not
2. What were the reasons for your bad trades? Your discipline on real is worst than sim...
3. Did you have a trading journal? Yes, I do
4. What will you do differently next time? Try to training my emotions and anxiety...
5. Did you rush into trades? Yes...
But, in SIM was not like that... this is the difference losing real money...
probably common knowledge airlines require a pilot to train in a "level-D" simulator before flying a heavy. If they kept crashing or making mistakes in the simulator they probably wouldn't be allowed to be co-pilot at all. flight sims, both the game (Lockheed has now taking over Microsoft FSX as Prepar3D. https://www.prepar3d.com/news/2013/08/4355/) and the industry ones have come a long way. however, trading sim will probably never be able to simulate the psychological effects of risking real money especially increasing contracts risked. (unless one day, they can fool the simmer into believing real money is on the line by some wacky brainwashing and probably unethical technology).
so, the original question about starting $3k on the ES? If you are new probably not.
A suggestion is to trade $5k on a mini or micro future. such as M6J or M6E. Then work on bringing it up to $12.5k
Then, and not including big outlier winners , and only then should you go on to 1 ES contract at $12.5k
Also, at $5k, if you lose $2.5k then stop trading live for 3 months to sim or research.
Then every $2.5k after until $12.5k same thing if one loses $2.5k, 3 months off live.