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that in Dec 2016, I answered "technically". I think I was trying to avoid controversy and not discourage. My most recent post in the ES swing thread is a little more terse. It is the one right below this thread in the list...or here:
First, it does look like sentiment might be turning here 2688ish off rejection at the figure? Also, the long referenced in the post above was 71.50 closed on the "outside in" back in bot 83.50. That was a relief cover precipitated by what looked …
Can you help answer these questions from other members on NexusFi?
I agree , it depends on your broker for margins etc. . TOS requires about $5800 for one contract on the YM . It also depends on how good of a trader you are , so many variables .
"A metaphor: A guy comes in for a free introductory lesson and opens with...Do you have a fight team? Yes, we have a fight team. Experienced guys are invited to a rigorous tryout and then selected based on how their participation will elevate the team. The response, Can I try out? Well tell me about your experience? I was a wrestler sophomore year in high school. Note...not senior year, meaning he did not continue. How many times did you place in State your sophomore year? Ha, if you do not know wldman can be pretty terse. None, but I watch the UFC on tv and it looks pretty cool. When was the last time you were punched or choked until you fell unconscious? Never, he said. Would it have been right for me to say...tryouts are tomorrow, see you at 6?
IMO to be rightly in the game you must first establish if you belong (can be competitive) in the game. In my hallucination, that means to even consider "trading", which in reality is short term directional speculation, you should have risk capital (meaning it can go to ZERO without causing harm) of at least $20,000. Don't bid me back if you don't like that...and I did not ask your opinion. Half that money to get started should be in either SPY or in Berkshire Hathaway stock. This is your initial "basket". The remaining $10,000 you are free to trade. Be aware that many very talented very aggressive experienced people wake up in the morning with the express intent of separating you from that money. They are ruthless and the vast and overwhelming odds are that they will move some or all of your trading capital in to their account...a couple times, before you figure things out.
If you plan to trade for income...meaning that you are going to withdraw money from your "trading account" to pay living expenses please re-read the metaphor above. Traders do not make a habit of periodic planned withdrawals from their "trading" account. If you think that trading futures is the Golden Key to easy prolonged riches, leave Colorado, give your gummies to your "bro from the gym" and get a degree in engineering, law or medicine and become the founding owner of the maker of the next great thing everyone needs."
as a minimum to start trading /ES? Yeah, that is kind of subjective. I simply gave my opinion. Or are you asking about the other thread and hit to net liq?
and say, yes, that and a crown and you can be king. But you are correct. a good factor, low/no drawdown and few consecutive losers and anyone would be all set.
IMO, one can scalp the eminis with a $2000 account with some brokers that have $500 margins per contract.
However, based on how you've asked your question... You most likely don't have a futures broker account... Nor do you understand that to successfully scalp the eminis your going to need to have commission rates so cheap... Such is not available to someone with a $2000 trading account.
That's just for starters. Successful scalpers of the eminis also have excellent/reliable data feeds, broker platform suitable for scalping and other trader equipment suitable for scalping. Then there's the psychological aspect... Those successful scalpers are extremely discipline traders and experience traders...Not trading with a $2000 account.
with their first post. I guess wldman has to step out now. The answer to the earlier question about the "tell" should be obvious. 36 people wonder if they have or can get enough $ to be considered viable by people at FIO and 3 or 4 want to discuss daily pre session analysis of the most active most competitive market in the world.
Probably not going to be an answer that most agree with, but here it goes. I believe if you are a successful trader you can trade a $5k account just as easily as a $50k account. The most important aspect to trading for me is having a strategy that you can successfully follow. By that I mean controlling your stop losses, margins, entries, profit targets and having confidence in your strategy!! Be honest with yourself before you ever start that there is no doubts you will be successful. That in my honest opinion comes from watching your strategy for however long it takes, whether it be a week, month or a year before you have that confidence.
