Questions from McMathews - Traders Hideout | futures io social day trading
futures io futures trading


Questions from McMathews
Updated: Views / Replies:6,695 / 43
Created: by McMathews Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Questions from McMathews

  #11 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received


McMathews View Post
Hi all
For some days I am deeply involved in reading different articles in the forum. And have obtained lot of knowledge however there a long way to go through.
I am planning to start trading with Forex. However I came to know that forex trading is the most risky investment in many of the articles. Is this true? What are the additional steps that we must assure before marching on to forex ? What is currency pair? As its always said that there is currency pair in Forex ? What significance does it have?
Regards


With all due respect Sir... if you are still asking these types of questions, you are not ready to "Start Trading". IMHO

However it is good that you are doing research and this is a great site for information.

1. Learn as much as you can and get a feel for what you think you would like to trade.

2. Get a free copy of Ninja Trader, find a free data feed and practice Simulated trading.

3. Go back to Item #1. At some point you will be better able to decide what your next step should be.

I am not trying to discourage you from trading... I am trying to dissuade you from losing your hard earned money.

Never forget ... trading is playing "for keeps".

Regards,
TMFT

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
 
  #12 (permalink)
Just starting out...
United states
 
Futures Experience: Beginner
Platform: Tradecentre
Favorite Futures: Forex
 
Posts: 19 since Mar 2011
Thanks: 1 given, 2 received

Market Orders vs Limit Orders

Hi all
I have been referring to the huge volumes of information in the internet. I have started to get different concepts regarding trading .However I was confused regarding some concepts as two different resources were pointing to two different directions. Finally I think I will get the right answer out here. Please help me regarding some of my confusions. What are market orders and limit orders which method of trading is more convenient? Which method can be used in order to limit risk and to achieve maximum gain?
Regards

Reply With Quote
 
  #13 (permalink)
Membership Revoked
 
Futures Experience: Beginner
 
Posts: 1,081 since May 2010
Thanks: 2,092 given, 595 received


Hi,

With a market order, you enter the market on whatever price is possible, you say: I want to be in. You place a market order on the market and the first one that takes your order you are filled and you are in the market. Meaning you could end up paying more than you initially planned too.

With a limit order you give an exact price when you want to make a deal, you say, I want to deal at price X and when there is somebody willing to deal with you at price X you are in the market, otherwise your market remains there, sitting without being filled.

Different trading strategies are for different traders, there is no exact fit or guarantee, one trader could make a million $ with a trading system while another trader with the exact same system would lose a million $.

Welcome to trading, the most difficult endeavor on the planet to make a buck or two.

Reply With Quote
 
  #14 (permalink)
Just starting out...
United states
 
Futures Experience: Beginner
Platform: Tradecentre
Favorite Futures: Forex
 
Posts: 19 since Mar 2011
Thanks: 1 given, 2 received

accounts types


Hi all
I came through the article where the author has stated that there are 3 types of account. It stated that the brokerage houses offers cash account, margin account and option account. What type of account must be posses by me in order to trade? Is there any plus and minus of different accounts? Which will be the most suitable for beginners like me? It stated that margin account has more added benefits along with some complications and lengthy procedures. Is that true?
Regards

Reply With Quote
 
  #15 (permalink)
 Vendor: www.htech.net 
Saint Louis, Mo., USA
 
Futures Experience: Advanced
Platform: NinjaTrader, Tradestation
Broker/Data: Amp/CQG, Velocity/TT, Kinetick, TS
Favorite Futures: Anything That Moves..
 
EDGE's Avatar
 
Posts: 127 since Aug 2010
Thanks: 77 given, 220 received


McMathews View Post

Hi all
I came through the article where the author has stated that there are 3 types of account. It stated that the brokerage houses offers cash account, margin account and option account. What type of account must be posses by me in order to trade? Is there any plus and minus of different accounts? Which will be the most suitable for beginners like me? It stated that margin account has more added benefits along with some complications and lengthy procedures. Is that true?
Regards


Those are actually refering to three types or sub-categories of a stock/equities accounts.


A margin account usually refers to a Pattern Day Traders Account.

Pattern Day Trading Accounts: Based on FINRA and NYSE day trading rules, any account that places 4 day-trades in a 5 trading day period is permanently deemed to be a “Pattern Day Trading” account. Pattern Day Trading Accounts must maintain a minimum daily equity balance of US $25,000. If the account balance falls below $25,000, trading is restricted to closing transactions only until the account balance is increased to $25,000.


A cash is what I would refer to as a Non Day-Trading Account. (401k's and IRA also fall here)

Non-Day Trading Accounts: Non-Day Trading Accounts (an account that has never placed 4 day-trades in a 5 trading day period) must maintain a minimum daily equity balance of at least $5,000. Non-Day Trading Accounts are restricted to 3 opening transactions per day, less the number of day trades made in the preceding 4 trading days. For example, if you have made 2 day-trades in the preceding 4 trading days, you will be permitted to place 1 new opening transaction (Buy or Sell Short) on the current day. You will still be able to place as many closing transactions (Sell, Cover) as you would like on the current day. Based on FINRA and NYSE day trading rules, an account which places 4 day-trades in any 5-day period will be deemed to be a “Pattern Day Trading” account permanently. See “Pattern Day Trading Account” requirements above


An options account is one of the two types of accounts above, with the additional abilitiy to trade options.
But then there are another 5 categories here..


I would suggest you find the nearest Scott Trade office and sit down face to face and ask as many questions as you can possibly can. DO NOT Sign up for an Account!!! but suck out as much information as you can in that meeting. It will be a start to help you better understand what your reading on the net.


Edge

Reply With Quote
 
  #16 (permalink)
Elite Member
New Brunswick, NJ
 
Futures Experience: Intermediate
Platform: N/A
Favorite Futures: N/A
 
Posts: 133 since Jun 2009
Thanks: 46 given, 154 received


McMathews View Post

Hi all
I came through the article where the author has stated that there are 3 types of account. It stated that the brokerage houses offers cash account, margin account and option account. What type of account must be posses by me in order to trade? Is there any plus and minus of different accounts? Which will be the most suitable for beginners like me? It stated that margin account has more added benefits along with some complications and lengthy procedures. Is that true?
Regards


You can trade with all three of them, depending on what and how you want to trade. I am sure the author explained the differences in the article? Maybe you should try to read through it again and then come back with specific questions.

A quick Google search will also answer many of your questions. Click here to see an example of how easy this is.

Reply With Quote
 
  #17 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received


McMathews View Post
What are market orders and limit orders which method of trading is more convenient? Which method can be used in order to limit risk and to achieve maximum gain?
Regards

Your question cannot be answered directly. It's like asking whether you should use a Mac or a PC to achieve the best performance--that will depend entirely on your needs and your methods.

When price is moving higher, for example:

+ Placing a buy market or buy stop for a breakout will definitely get you into the trade. On a strong move up, this may be wise, as price may retrace little on its way up.
+ On the other hand, quite a few times traders will buy a breakout with a buy stop, only to have price reverse and test a lower level, and they will either get stopped out or take lots of heat on the trade. In this case, a patient trader with a limit order will come out better as he will get a better price, and can have a tighter stop loss.

So in different cases, different types of orders can be beneficial. Your gauge of how price is moving should tell you what to do.

Reply With Quote
The following user says Thank You to josh for this post:
 
  #18 (permalink)
Just starting out...
United states
 
Futures Experience: Beginner
Platform: Tradecentre
Favorite Futures: Forex
 
Posts: 19 since Mar 2011
Thanks: 1 given, 2 received

time suitable

Hi all
I am looking for the best suitable time to trade? What is the most feasible and appropriate time in a day to trade? is it while the stock exchanges are getting prepared to be closed or the time when they have just started to trade ?
Regards

Reply With Quote
 
  #19 (permalink)
Just starting out...
United states
 
Futures Experience: Beginner
Platform: Tradecentre
Favorite Futures: Forex
 
Posts: 19 since Mar 2011
Thanks: 1 given, 2 received

future trading

Hi all
It is said that there is more rate of return in future trading. However there are risks also but what is different risk involved in future trading? Is it good for new beginners like me to start trading with future commodities or there’s other better option for me? Help?
Regards

Reply With Quote
 
  #20 (permalink)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
Thanks: 1,217 given, 2,068 received


Hi,

There is an interesting research made by Fat Tails but it's for elite members https://futures.io/elite-circle/5242-intraday-seasonality-when-trade-when-not-trade.html

Reply With Quote

Reply



futures io > > > Questions from McMathews

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
ADXVMA Questions max-td NinjaTrader Programming 52 October 2nd, 2013 06:24 AM
New to BMT.. questions cgleckman Beginners and Introductions 8 November 7th, 2011 10:43 AM
Several questions about futures rounder8 Beginners and Introductions 6 June 24th, 2011 08:25 AM
CL Questions jonc Commodities Futures Trading 13 February 24th, 2011 07:22 PM
Strategy Questions doseone NinjaTrader Programming 13 July 7th, 2010 11:50 PM


All times are GMT -4. The time now is 06:18 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-17 in 0.15 seconds with 19 queries on phoenix via your IP 54.82.81.154