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Lowest Account Minimums?
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Lowest Account Minimums?

  #21 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
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Silvester17 View Post
and why would they do that? where is it written that when you open an account and fund it that you have to be active in order to get the data?


I would think it's more a problem for the broker. there's a simple solution, just apply an inactive fee every month. then you certainly wouldn't feel like a dialing machine for new accounts anymore.

but the question remains, can you afford to do that? and the competition would ask: are you in good hands?


I will explain: In order to distribute quotes on an on going basis you need to qualify by the exchanges as a data vendor. So for example companies like Future Source, Esignal, DTN, etc could distribute quotes where you pay monthly fees depending on the exchange requested, and some of the fee goes back to the exchange as there is a cost for quote distribution. Brokers and FCMs are not quote vendors therefore they can't charge that kind of a fee.

The exchanges want to get paid one way or another, either for quote distribution or by you participating paying the futures clearing fees.

Companies for example like Rithmic are allowed to give you demos via the platform they route their data-feed through, but they cant give you a life-time live quotes demo, again because they are not quote vendors.

Everyone is reasonable in this industry, and no one will disable you if you go through periods of not trading.
People take vacation, breaks from trading, and it's understood. I can't talk in terms of time, but I think it would be a long time before one would be flagged in the system.

Personally, I don't have a problem if someone does not trade. If you need to take a break, retest the methodology and/or put it back on sim account.

I hope this helps.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #22 (permalink)
Elite Member
Austin, TX & Las Vegas, NV
 
Futures Experience: Advanced
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drmartell View Post
What broker has the lowest account minimums for NinjaTrader + Zen-Fire??

Just a good idea while any trader is in the discipline building stage......set a daily LOSS LIMIT through your broker. If you start out with $2500 then set a daily loss limit of say $125.00.....at any point during the day you go red $125 your position will go flat and you will be locked out for the day from further trading. This way you won't blow your acct out from one bad day where you went deer in the head lights playing with two lots.


Talk to any broker where you will set up a newb acct and see if they offer that capability......better to bleed slow then have a single day a$$ kicking!

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  #23 (permalink)
Market Wizard
Columbus, OH
 
Futures Experience: None
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mattz View Post
I will explain: In order to distribute quotes on an on going basis you need to qualify by the exchanges as a data vendor. So for example companies like Future Source, Esignal, DTN, etc could distribute quotes where you pay monthly fees depending on the exchange requested, and some of the fee goes back to the exchange as there is a cost for quote distribution. Brokers and FCMs are not quote vendors therefore they can't charge that kind of a fee.

The exchanges want to get paid one way or another, either for quote distribution or by you participating paying the futures clearing fees.

Companies for example like Rithmic are allowed to give you demos via the platform they route their data-feed through, but they cant give you a life-time live quotes demo, again because they are not quote vendors.

Everyone is reasonable in this industry, and no one will disable you if you go through periods of not trading.
People take vacation, breaks from trading, and it's understood. I can't talk in terms of time, but I think it would be a long time before one would be flagged in the system.

Personally, I don't have a problem if someone does not trade. If you need to take a break, retest the methodology and/or put it back on sim account.

I hope this helps.

yes that's all good. but I don't believe for a second that you would get in trouble for inactivity. maybe from a broker I could understand, but never from an exchange. unless you show me, I don't remember signing anything like that when I opened my account.

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  #24 (permalink)
Market Wizard
Boca Raton
 
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Silvester17 View Post
yes that's all good. but I don't believe for a second that you would get in trouble for inactivity. maybe from a broker I could understand, but never from an exchange. unless you show me, I don't remember signing anything like that when I opened my account.

relax already. no one is getting in trouble!
I had one incident of a a guy who was inactive for a VERY long time, and I was notified to ask if he will trade.
I was surprised as it was the first time of this sort, so I assumed guys who are considered inactive will be flagged if they are inactive FOR A VERY LONG TIME...VERY LONG.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #25 (permalink)
Big game hunter
NY
 
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anniebee321 View Post
also, once you develop expertise that 2.5k account can increase to 4k plus; do not rush it

And since you can achieve a 37% gain while just learning youll be hired by the best hedge fund and trade their money !

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  #26 (permalink)
Market Wizard
Columbus, OH
 
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mattz View Post
relax already. no one is getting in trouble!
I had one incident of a a guy who was inactive for a VERY long time, and I was notified to ask if he will trade.
I was surprised as it was the first time of this sort, so I assumed guys who are considered inactive will be flagged if they are inactive FOR A VERY LONG TIME...VERY LONG.

don't worry, I'm as relaxed as one can be relaxed. and I know you don't get in trouble for inactivity.

if you don't mind me asking. who notified you, your boss? or are you saying the exchanges have access to every account?

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  #27 (permalink)
Elite Member
london
 
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Minimum account size


Eric j View Post
And since you can achieve a 37% gain while just learning youll be hired by the best hedge fund and trade their money !

actually a) by then you would have learnt to trade despite your small sum of money
b) you would be too good to work for a crappy hedge fund

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  #28 (permalink)
Market Wizard
Boca Raton
 
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Eric j View Post
And since you can achieve a 37% gain while just learning youll be hired by the best hedge fund and trade their money !

Dude, I needed a good laugh! 1:0 to Eric J LOL

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #29 (permalink)
Elite Member
Stockholm
 
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Another aspect: It's a nuisance to have to close positions at the end of the regular trading day because the balance on the account is too low for the (much higher) overnight margin.
I wouldn't trade if i had less than say 10k on the account.

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  #30 (permalink)
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kiasom View Post
Another aspect: It's a nuisance to have to close positions at the end of the regular trading day because the balance on the account is too low for the (much higher) overnight margin.
I wouldn't trade if i had less than say 10k on the account.

Well, if you really wanted to, you could close it at the end of RTH and re-open it at the start of the night session, depending on instrument that is 15 minutes to a few hours later. Assuming you could afford the increased commission costs based on the reward of the position.

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