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Game Plan


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Game Plan

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  #11 (permalink)
newport coast, california
 
 
Posts: 48 since Aug 2015
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pilotui View Post
Yes, Day Trading Margin may be $1K but your Maint Margin is probably at least $3K. what brokerage are you with?

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.

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  #12 (permalink)
Oklahoma City OK/USA
 
Experience: Intermediate
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blackberry View Post
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 margins looked very good for 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.

Awesome for you though!

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  #13 (permalink)
newport coast, california
 
 
Posts: 48 since Aug 2015
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From the price action so far, Friday looks to be bearish. The bears are dancing very strong.

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  #14 (permalink)
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Manta, Ecuador
 
Experience: Advanced
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Trading: Emini Futures
 
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blackberry View Post
Game plan is to deposit $2000 and to start trading live.

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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  #15 (permalink)
newport coast, california
 
 
Posts: 48 since Aug 2015
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Big Mike View Post
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


Thank you very much for your concern Mike. As I see it, every school has a cost. Such is life.

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  #16 (permalink)
newport coast, california
 
 
Posts: 48 since Aug 2015
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Yes, dancing bears Friday. Funds will be available by the end of the day today, which gives me Monday as my first live day.

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  #17 (permalink)
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blackberry View Post
Thank you very much for your concern Mike. As I see it, every school has a cost. Such is life.

Yes, but I recommend setting yourself up for success, not failure. Your choices have set yourself up for failure.

Mike

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  #18 (permalink)
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blackberry View Post
Thank you very much for your concern Mike. As I see it, every school has a cost. Such is life.

Don't waste $2000.

I am starting to think people around here hate money. They seem so determined to kill it.

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  #19 (permalink)
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blackberry View Post
Thank you very much for your concern Mike. As I see it, every school has a cost. Such is life.


Big Mike View Post
Yes, but I recommend setting yourself up for success, not failure. Your choices have set yourself up for failure.

Mike


tturner86 View Post
Don't waste $2000.

I am starting to think people around here hate money. They seem so determined to kill it.

You cannot really learn that much from being told by other people; you just have to learn from experience.

So, I wish you a good learning experience. It may not seem to be all that good when or if it happens, but it's the way to learn.

And who knows? I could be wrong, which would make me much happier. Either way, some learning will happen.

Bob.

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  #20 (permalink)
Bamberg, Germany
 
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blackberry View Post
Thank you very much for your concern Mike. As I see it, every school has a cost. Such is life.

$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.

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