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Better to trader forex or futures with small account?
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Better to trader forex or futures with small account?

  #1 (permalink)
Trading Apprentice
tulsa ok 74145
 
Futures Experience: Intermediate
Platform: tradestation
Favorite Futures: grain futures
 
Posts: 3 since May 2014
Thanks: 0 given, 1 received

Better to trader forex or futures with small account?

I am trying to decide if I should focus in on forex or mini futures with a small account size of $2000. I was thinking mini forex as i have studied it intensely for quite some time but would like some feed back as to if maybe sugar 11, grains, or another mini future may be better. Thanks

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  #2 (permalink)
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  #3 (permalink)
Student of the Markets
Cocoa, FL
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Apex Futures/OEC/FXCM
Favorite Futures: YM, Forex
 
lovetotrade's Avatar
 
Posts: 344 since Oct 2014
Thanks: 895 given, 521 received


I have been where you are, and I am a firm believer in starting in the forex markets. I started with a micro account with $90, and it was the best $90 I ever spent lol. After previously making good money, and then blowing up some option accounts, I started very conservatively.

Micro is 10 cents a pip, so with no emotion in the trade I was able to focus on market functionality and profitability. Then once I was profitable with my $90, I threw in another $500 and bumped up my leverage. It takes time to become comfortable with larger and larger $ on the line, so this helped me become comfortable gradually, and to prevent me from adding money to an account that wasn't profitable. Because even if you took a hit and lost half, you could now reduce your leverage to half, and trade back up to that amount without blowing up the account. As compared to futures where your leverage will stay the same till your account hits zero, well until you get a margin call anyway.

Another big plus is being able to trade and scale out in multiple contracts in forex, that you could not do in futures with that account size. I trade a small futures account with one contract, but my goal is to play things quite conservatively until I get my account to where I can trade at least two contracts. But I never would have even have opened the account at $2k, I believe you might as well throw that money out the window. You will gain a little market experience, but it will be very quick and very expensive.

I ended up making the most money trading the forex monthly and weekly charts where you can really catch the large price swings. If the day trading seems tough at first, I would switch to the longer term charts. If you cannot be profitable in longer term trades, it will be near impossible making it day trading. Where so many other factors come into play that are even harder to control.

I used FXCM and had a great experience with them.

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  #4 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,027 since Jul 2011
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Thanks for the informative forex trading post.


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  #5 (permalink)
Membership Temporarily Revoked
Zurich/Switzerland
 
Futures Experience: Advanced
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Posts: 79 since Oct 2014
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trader343 View Post
I am trying to decide if I should focus in on forex or mini futures with a small account size of $2000. I was thinking mini forex as i have studied it intensely for quite some time but would like some feed back as to if maybe sugar 11, grains, or another mini future may be better. Thanks

Start at a FX broker that allows to trade with small sizes, i.e. Oanda (smallest trade size 1 unit) or similar ones. Don't go to a broker that is located in Cyprus or similar countries having no regulations.

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  #6 (permalink)
Trading for Fun
Bodoe , Norway
 
Futures Experience: Intermediate
Platform: Fxcm tradestation II
Favorite Futures: Forex
 
sharpshoota's Avatar
 
Posts: 142 since Jun 2014
Thanks: 843 given, 117 received

Another alternative is f.ex. the ETF called DBA

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  #7 (permalink)
Trading for Fun
Kalispell montana
 
Futures Experience: Beginner
Platform: ninjatrader
Favorite Futures: es
 
Posts: 158 since Jan 2015
Thanks: 157 given, 23 received

How does spread trading futures play into this mix?

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  #8 (permalink)
Elite Member
Louisville, Kentucky
 
Futures Experience: Intermediate
Platform: Sierra Chart, IRT
Broker/Data: Various
Favorite Futures: Futures
 
empty's Avatar
 
Posts: 92 since Oct 2012
Thanks: 1,906 given, 177 received

Clarify


sledmt View Post
How does spread trading futures play into this mix?

Can you clarify what you're asking? When you're trading a futures contract such as 6E that is the future contract on the EUR/USD spot.

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  #9 (permalink)
Elite Member
Houston, Texas, United States
 
Futures Experience: Beginner
Platform: TradeStation
Favorite Futures: Futures
 
Posts: 25 since Jun 2013
Thanks: 10 given, 4 received

Can't confirm for sure but I imagine most futures accounts will require 5k starting capital. With Forex surely much less is required.

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  #10 (permalink)
Elite Member
Malaysia
 
Futures Experience: Beginner
Platform: Multichart DT
Broker/Data: MB Trading
Favorite Futures: Fx
 
torroray's Avatar
 
Posts: 273 since Nov 2009
Thanks: 52 given, 59 received


Start with Ninja Brokerage with 1,000.

Trade M6E, tick size is $1.25 per contract.

Daytrade Margin is $250.

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