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Updated December 4, 2018
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October 28th, 2018, 04:09 AM
PhuKet Island / Thailand
Experience: Advanced
Platform: Sierra Chart NT
Broker: IB / IQFeed
Trading: ES
Posts: 133 since Jul 2018
Thanks Given: 136
Thanks Received: 53
Skidboot
Today, 1
contract of NQ dropped almost $8,000. You can't be thinking of trading this with $2K capital. Trade
micro futures but commisions are going to be bad for what you can make in them.
You are so correct!
It dropped horribly.
Got to watch it minutely.
Any advice as how to get it right,
to be on the right side and
not lost it all?
Thx
Can you help answer these questions from other members on NexusFi?
Best Threads (Most Thanked) in the last 7 days on NexusFi
October 28th, 2018, 04:12 AM
PhuKet Island / Thailand
Experience: Advanced
Platform: Sierra Chart NT
Broker: IB / IQFeed
Trading: ES
Posts: 133 since Jul 2018
Thanks Given: 136
Thanks Received: 53
researcher247
It would be nice if new trader's realized this is a game for well-capitalized entry.
But hey - liquidity will be provided by the 1-5
contract underfunded accounts; regardless. Rinse/repeat.
Cheers!
Meaning?
What do you suggest those
with low funding learning how to trade do,
in order to become eventually profitable a little bit?
Thx
November 5th, 2018, 05:00 AM
hollywood
Experience: Intermediate
Platform: thinkorswim
Broker: TD
Trading: futures
Posts: 213 since Jun 2010
Thanks Given: 65
Thanks Received: 165
4tison
I just got to read your valuable response.
Thx a mil.
What you mentioned is very true indeed, such as - -
1--don't be afraid to hold a position and don't be afraid to cut it quickly and
reverse
2--if the market doesn't move quickly in your favor get out or reverse
3--if you don't know what you're doing don't get in a trade
4--don't trade with 2k----20k is better (either way you'll prob lose it if its your first account)
5--pay attention to every detail you can and know where daily/weekly highs/lows are and how markets act in that area
hope that helps....my 2c and yes there are brokers with $500
contract margin[/QUOTE
6--but you forgot to mention THE NAME OF THE BROKERAGE....?
Great advice.... much appreciated.
I don't promote brokers
just google and call 5-6 of them...you'll see.....but i wouldn't recommend that. use you 20k for a major top 5 broker (google again) and trade small imo
December 1st, 2018, 11:53 AM
London
Posts: 150 since Apr 2018
Thanks Given: 168
Thanks Received: 78
TradingOgre
Not to be harsh, but if you don't know that already you are not ready. NQ is a beast.
Lots of potential for reward but also lots of potential for failure.
Don't be in such a hurry. Use your recovery time from surgery to play with NQ in a demo environment. @
cory gave the best advice. Basically if you can't make it in the demo environment you will never make it in a live environment.
Hi, what broker would you recommend for demo trading? I live in the United Kingdom. Currently looking at AMP Global, the international arm of AMP Futures.
They have a beginner friendly initial deposit of $100 to open a live account. Granted this doesn't enable you to trade much.
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December 1st, 2018, 11:56 AM
London
Posts: 150 since Apr 2018
Thanks Given: 168
Thanks Received: 78
Blash
I think some other choices should be consider.
Anything
E-micro FX Futures...... M6E M6J M6B M6A etc....
With only such a tiny acct you are going to need to have super small risk and these choices are much better suited to that.
Remember the Big Boys of this profession are looking to do one thing and only one thing......
Transfer the money in your acct to their acct..... and it is all completely legal.
And they have
every possible resource to accomplish this goal.
Ron
Thanks @Blash Are there other futures (apart from micro currency ones) that one can trade with such a small account?
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December 1st, 2018, 11:57 AM
London
Posts: 150 since Apr 2018
Thanks Given: 168
Thanks Received: 78
Arch
For NQ, DLL of 5% of your 2K demo account.
What is DLL please?
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December 1st, 2018, 12:01 PM
London
Posts: 150 since Apr 2018
Thanks Given: 168
Thanks Received: 78
Binkius
Please preserve your $2000!
Sim trade first. If you can't make money in simulation, you won't be able to make money live.
Sim will teach you what you don't know.
Success is probably going to be years away. You will need your $2000 for software, data fees, and instructional aid.
If you want to start trading live with no trading background, I recommend Vegas, Macau or Saipan. You will have a lot more fun with $2000 in those places than sitting in front of your computer.
Good luck!
You said that you need cash for "software, data fees etc..."
Wouldn't you get this from your broker in the form of a charting package?
Sorry for sounding like a compete idiot, I'm new to futures. It seems like a different world to trading equities and spot forex..
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December 1st, 2018, 12:02 PM
London
Posts: 150 since Apr 2018
Thanks Given: 168
Thanks Received: 78
TheShrike
Practical? No. Prudent? No. NQ can rip your face off. CL is a choir boy compared to NQ. Build up a larger trading bankroll first and educate yourself in what you're getting into. No one should be trading
futures contracts with 2k. Probably not what you want to hear but I promise you it's the truth.
What do you consider a suitable bankroll for trading futures? Thanks.
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December 1st, 2018, 12:03 PM
London
Posts: 150 since Apr 2018
Thanks Given: 168
Thanks Received: 78
lsubeano
I think you're asking the wrong questions....and by the questions you've asked, and having major operation.....
no no no....def no....
but hey, I'm sure you'll do it anyway (b/c we all do it)-----
Anyway.....
know when to trade and when not to trade
know why the market moves and really know
don't be afraid to hold a position and don't be afraid to cut it quickly and
reverse
if the market doesn't move quickly in your favor get out or reverse
if you don't know what you're doing don't get in a trade
don't trade with 2k----20k is better (either way you'll prob lose it if its your first account)
pay attention to every detail you can and know where daily/weekly highs/lows are and how markets act in that area
hope that helps....my 2c and yes there are brokers with $500
contract margin
With $500 margin can you trade any future contracts if you area holding positions for longer than a day?
Sent using the NexusFi mobile app
December 1st, 2018, 12:05 PM
London
Posts: 150 since Apr 2018
Thanks Given: 168
Thanks Received: 78
researcher247
It would be nice if new trader's realized this is a game for well-capitalized entry.
But hey - liquidity will be provided by the 1-5
contract underfunded accounts; regardless. Rinse/repeat.
Cheers!
Hi, thanks I'm new so forgive the obvious questions. Why do you have to be well capitalised in this game? If you have enough to cover the overnight margin aren't your good to go? In this case $5,000 should be enough to get started?
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Last Updated on December 4, 2018