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For the maint margin, you r absolutely correct. I should have written in the first note that I have no intentions to hold any trades overnight till my account is at least $10000, AMP clearing is my broker. Their margin requirement looked very good to me.
Oh OK...in my experience I couldn't trade CL until my account bal was the Maint Margin+Day Trade Margin. So I started with YM and built my account up and then switched to Crude later.
Just to be clear, when you lose all the money what will you do? Put more in?
You are gambling, not trading. You are using ridiculous margins, highly leveraged products, on a tiny micro account. It's going to end badly, just donate the money to charity or go have a party in vegas.
Mike
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The following 5 users say Thank You to Big Mike for this post:
Yes, but I recommend setting yourself up for success, not failure. Your choices have set yourself up for failure.
Mike
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following 3 users say Thank You to Big Mike for this post:
$2000 will get you about 1 minute worth of "school" with the as mentioned instruments.. For futures, $50k is a good starting tuition after thorough live studying at the school of ETFs, stocks, futures.io (formerly BMT),and Adam Grimes IMHO.
The following user says Thank You to JohnS for this post:
