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Best deal on futures margin


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Best deal on futures margin

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  #1 (permalink)
raleigh nc wake
 
 
Posts: 8 since May 2020
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New to futures trading and need suggestions on best platforms with lowest margin

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  #2 (permalink)
Legendary Market Wizard
Cleveland Ohio/United States
 
Experience: Advanced
Platform: Tradestation
Broker: Tradestation, DeCarley, others
Trading: futures
 
Posts: 2,918 since Jul 2012
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Since you are new to futures, would you like my view on looking for the lowest margins?

Just say no if you want me to be quiet.

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  #3 (permalink)
raleigh nc wake
 
 
Posts: 8 since May 2020
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Sure, I want input on the best, all around choice

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  #4 (permalink)
Legendary Market Wizard
Cleveland Ohio/United States
 
Experience: Advanced
Platform: Tradestation
Broker: Tradestation, DeCarley, others
Trading: futures
 
Posts: 2,918 since Jul 2012
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NC001 View Post
Sure, I want input on the best, all around choice

I would recommend not basing your choice on lowest margin requirements. That can easily lead to oversizing, which just leads to a much greater chance of blowing out the account.

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  #5 (permalink)
Minoqua Wi USA
 
 
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kevinkdog View Post
I would recommend not basing your choice on lowest margin requirements. That can easily lead to oversizing, which just leads to a much greater chance of blowing out the account.

Although I agree with this statement, I also believe that once a trader has his emotions and discipline in check via a trading plan or whatnot, having a low margin account should not be a problem. It is a traders emotions that can lead to oversizing and a whole slew of problems there after. But, that's a whole other topic....

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  #6 (permalink)
Legendary Market Wizard
Cleveland Ohio/United States
 
Experience: Advanced
Platform: Tradestation
Broker: Tradestation, DeCarley, others
Trading: futures
 
Posts: 2,918 since Jul 2012
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Mozart2112 View Post
Although I agree with this statement, I also believe that once a trader has his emotions and discipline in check via a trading plan or whatnot, having a low margin account should not be a problem. It is a traders emotions that can lead to oversizing and a whole slew of problems there after. But, that's a whole other topic....

A random string of "bad luck" trades, or even one really bad luck trade, can easily wipe out small accounts. And that is regardless of emotions and discipline.

The Swiss Franc unpegging a few years ago was a good example. Thousands of traders wiped out, or worse yet ending up with a debit balance, in the blink of an eye.

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  #7 (permalink)
Coronel Vivida, Parana/Brazil
 
 
Posts: 3 since Jan 2021
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Are you going to start with micro futures or jump right into the eminis? I googled the lowest commission brokers for micros and I think I might be going with Ninjatrader.

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  #8 (permalink)
raleigh nc wake
 
 
Posts: 8 since May 2020
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Thanks, everyone, for your input. I was just wondering how much to transfer into an initial account. I plan to trade 1 or 2 contracts of NQ.

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  #9 (permalink)
Legendary Market Wizard
Ilsede, Germany
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Rithmic / CQG / Ninja Trader Brokerage
Trading: NQ
 
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NC001 View Post
Thanks, everyone, for your input. I was just wondering how much to transfer into an initial account. I plan to trade 1 or 2 contracts of NQ.

For NQ I'd suggest a minimum of $5k per contract if you want to use reasonable stops in this fast and volatile market.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #10 (permalink)
Site Moderator
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Mozart2112 View Post
Although I agree with this statement, I also believe that once a trader has his emotions and discipline in check via a trading plan or whatnot, having a low margin account should not be a problem. It is a traders emotions that can lead to oversizing and a whole slew of problems there after. But, that's a whole other topic....

I'm afraid that lower margins are always a potential problem. There is less to fall back on, plus there is really no guarantee that the trader will always have his/her emotions in check, which is seriously dangerous with a small account, and you never know what is going to happen, entirely apart from your own actions.


kevinkdog View Post
A random string of "bad luck" trades, or even one really bad luck trade, can easily wipe out small accounts. And that is regardless of emotions and discipline.

The Swiss Franc unpegging a few years ago was a good example. Thousands of traders wiped out, or worse yet ending up with a debit balance, in the blink of an eye.

Exactly.

--------------

With all that said, just start out with more than you think you will need. You can quite easily find brokers who will offer day-trading margins of only $500 per contract. But dom't take them up on it. Use more.

You won't really need to search for them; just visit the web sites of a number of futures brokers and you will find them. But don't succumb to the temptation. Especially if you are trading NQ, which is a very sudden, quickly-moving account killer. About 10 times that $500/contract might not be enough. If you are under-funded, you will likely have an unwelcome surprise.

A better option, if cash is tight, is to use the micro contracts. MNQ has a tenth of the value per point of regular NQ and could be traded with smaller margin with a tenth of the risk. If you trade it well, you can build your account soon enough. If you don't trade it well, you will lose less, and less quickly, than with full NQ.

Good luck. Be careful.

Bob.

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-- Cervantes, Don Quixote
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  #11 (permalink)
raleigh nc wake
 
 
Posts: 8 since May 2020
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I was thinking in the range of $50k and trade 1-2 contracts with a $200 loss per trade.

Appreciate all the responses

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