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Trading futures with $5000


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  #61 (permalink)
Kennizzl
Detroit, MI
 
Posts: 28 since Aug 2017
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timefreedom View Post
@Kennizzl
What brokerage firm do you trade with?

Stage 5 Trading under Gain Capital

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  #62 (permalink)
 
Kruger's Avatar
 Kruger 
Cape Town South Africa
 
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Kennizzl View Post
Stage 5 Trading under Gain Capital

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Stage 5 Trading? Kindly explain

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  #63 (permalink)
 tpredictor 
North Carolina
 
Experience: Beginner
Platform: NinjaTrader, Tradestation
Trading: es
Posts: 644 since Nov 2011


There are many brokers that will give you discounted margins for day trading below their advertised rates. With a small account, trade fees become incredibly important. If I were opening a sub 5k account, I would probably look strongly at something like Tradovate because with scalping, you need rock bottom commission.

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  #64 (permalink)
Kennizzl
Detroit, MI
 
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Kruger View Post
Stage 5 Trading? Kindly explain

It is literally the name of the brokerage: Stage 5 Trading. Google it to learn more.

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  #65 (permalink)
Kennizzl
Detroit, MI
 
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tpredictor View Post
There are many brokers that will give you discounted margins for day trading below their advertised rates. With a small account, trade fees become incredibly important. If I were opening a sub 5k account, I would probably look strongly at something like Tradovate because with scalping, you need rock bottom commission.

A little too late for this now. But the SEC fees are what kill me, not the brokerages.

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  #66 (permalink)
 
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 SMCJB 
Houston TX
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Kennizzl View Post
This is really interesting. I actually started trading futures abut a week and a half ago....with a $1700 account. I wonder where i'll be next month.

I trade via one minute charts, and by far the most annoying thing is definitely the necessarily tight stops I have to use to maintain a max of 3% risk. Consistently only about 3-5 ticks. Overall I haven't taken very many trades wither because I have to be very detailed in my interpretation of price action and entry points. Sucks.


Kennizzl View Post
A little too late for this now. But the SEC fees are what kill me, not the brokerages.

There are no SEC fees on Futures. The SEC regulates stocks not futures.
NFA fees are 1c/side.

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  #67 (permalink)
Kennizzl
Detroit, MI
 
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SMCJB View Post
There are no SEC fees on Futures. The SEC regulates stocks not futures.
NFA fees are 1c/side.

Meant CME fees

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  #68 (permalink)
zazo
chicago illinois
 
Posts: 7 since Oct 2017
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It's possible yes. Can a beginner with no experience whatsoever do it, probably not. Most of the people commenting seem to have lost because of some psychological error. You need high emotional awareness no matter how big your account is. You have to recognize when you are feeling anger, sadness, euphoria, etc. Because if you can feel them you can ignore them or better yet use them to your advantage. From my experience, feelings of anger, euphoria, frustration and cockiness are account killers. This is just a small aspect of what needs to be learned to trade with a small account or even a large account - because after you can see set-ups developing in real time (if you're a day trader) and correlate TF, its all about monitoring your emotions.

A beginner is better off taking 5k to the market than 50k, without any real experience about how markets move both will blow up, the 5k will just happen sooner. And hopefully after you blow that 5k you realize that this is not easy and that it takes many many hours of screen time just to be able to recognize levels where you have the most institutional and hedge order flow coming in at. These guys move markets, so it only makes sense to follow them. With 5k you have to have superb risk management. You have to have superb timing and patience. moreover, you need an in depth understanding of how the market moves. Forget about why the market just dropped 15 points, focus on how, what was it doing prior to the drop, the behavior is was exhibiting is valuable. SIM is your friend - because before you can make money live you have to be able to make money in sim. Lawyers use mock trials(SIM) when learning or preparing for a case. You practice without loosing your money. Just like you would train for anything trading is no different.


So someone with lots of experience and deep knowledge of how markets move, they can turn a 5k account into anything. no shame in slowly building an account. Many traders /investors didn't start out 50k. Some built from the ground, and it's because they had experience and strong desire to succeed.

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  #69 (permalink)
mamba618
New York
 
Posts: 2 since Oct 2017
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Question is do you have method to trade whether 5K, 10K or 100K?

We could have 100K still end up getting in trouble in Futures trading world universe, it also depends on where you are in trading journey, if you are just starting out then you are better off investing that money into Quality Education instead of jumping into game. It may not be what a beginner trader want to hear, over the time it will all makes sense.

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  #70 (permalink)
Nick77mc
Houston, tx
 
Posts: 4 since Oct 2017
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What would you recommend for a beginner to start out with money wise and the where to look for the proper education?

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Last Updated on October 23, 2017


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