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Getting Started Trading with 1,000.00 Using Ninja Trader


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Getting Started Trading with 1,000.00 Using Ninja Trader

  #51 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
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Swing Trader
 
Experience: Advanced
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@Lady you completely missed the point. You cannot, under any real circumstance, trade futures with a $1000 account. Period, the end.

Starting with $1000 is fine. Go swing stocks. But futures? Ridiculous. Beyond ridiculous. Criminal is more like it.

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  #52 (permalink)
 
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 Big Mike 
Manta, Ecuador
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And anyone encouraging $1000 futures is just encouraging someone to learn terrible behaviors and trading styles that will take them twice the time to unlearn.

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  #53 (permalink)
 Lady 
Medellín, CO
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Playing with eMinis, coming from Options
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Big Mike View Post
@Lady you completely missed the point. You cannot, under any real circumstance, trade futures with a $1000 account. Period, the end.

Starting with $1000 is fine. Go swing stocks. But futures? Ridiculous. Beyond ridiculous. Criminal is more like it.

Sent from my phone

I'll stop cuddling him. Then tell him a number. Several numbers. And $30k is not close to realistic out of the gate.

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  #54 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,319 since Jun 2009
Thanks Given: 33,139
Thanks Received: 101,474


Lady View Post
I'll stop cuddling him.

Your advice was good... just replace futures with swing trading stocks, or possibly forex although that has its own set of issues.

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  #55 (permalink)
 
Devil Man's Avatar
 Devil Man 
Fort Lauderdale
Legendary / Stochastic Calculus is not your friend
 
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Big Mike View Post
And anyone encouraging $1000 futures is just encouraging someone to learn terrible behaviors and trading styles that will take them twice the time to unlearn.

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@Big Mike futures..well yes..but don't you think if that is something you want to do and that's all you can afford, that trading cash is more beneficial than sim trading...or not trading? I know when I started I was under funded...but I traded anyway...and blew up my account..then I had time to think..and think a lot while I saved up enough to start trading again. Lessons learned?...oh hell yeah, still learning and glad I did what I did.

Johnny

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  #56 (permalink)
 Lady 
Medellín, CO
 
Experience: Intermediate
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Trading: Playing with eMinis, coming from Options
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Big Mike View Post
Your advice was good... just replace futures with swing trading stocks, or possibly forex although that has its own set of issues.

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I'm of the school of focusing deeply on a small batch of products. If he has done enough trading and research and knows that index futures are his thing, he should stay with that product or that security. Not jump around different products that require completely different methods or development of cognitive pathways.

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  #57 (permalink)
 Lady 
Medellín, CO
 
Experience: Intermediate
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Trading: Playing with eMinis, coming from Options
Posts: 83 since Jun 2015
Thanks Given: 14
Thanks Received: 43


Lady View Post
... Then tell him a number. Several numbers. And $30k is not close to realistic out of the gate.

and this

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  #58 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
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Swing Trader
 
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Devil Man View Post
@Big Mike futures..well yes..but don't you think if that is something you want to do and that's all you can afford, that trading cash is more beneficial than sim trading...or not trading? I know when I started I was under funded...but I traded anyway...and blew up my account..then I had time to think..and think a lot while I saved up enough to start trading again. Lessons learned?...oh hell yeah, still learning and glad I did what I did.

Johnny

Trade cash. Start with $1000 if you have to. But not futures!

Futures is highly leveraged trading. You don't drive a Formula 1 car without first driving a regular car and mastering it.

Start with swing trading stocks. Learn good decision making, research, lower leverage, more time and more forgiving to mistakes. Starting with futures is insane.

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  #59 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
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Duration: Weeks
Posts: 50,319 since Jun 2009
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Thanks Received: 101,474

No more replies from me on this thread. The guy probably already blew up his account anyway.

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  #60 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,319 since Jun 2009
Thanks Given: 33,139
Thanks Received: 101,474



Lady View Post
I'm of the school of focusing deeply on a small batch of products. If he has done enough trading and research and knows that index futures are his thing, he should stay with that product or that security. Not jump around different products that require completely different methods or development of cognitive pathways.

So swing SPY. You are still missing the point. Leverage and timing. He needs low and slow, as do all beginners.

I'm out.

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Last Updated on June 13, 2018


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