Game Plan

blackberry · (login for full post details)

pilotui

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.

pilotui · (login for full post details)

blackberry

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!

blackberry · (login for full post details)

From the price action so far, Friday looks to be bearish. The bears are dancing very strong.

Big Mike · (login for full post details)

blackberry

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

blackberry · (login for full post details)

Big Mike

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.

blackberry · (login for full post details)

Yes, dancing bears Friday. Funds will be available by the end of the day today, which gives me Monday as my first live day.

Big Mike · (login for full post details)

blackberry

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

tturner86 · (login for full post details)

blackberry

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.

bobwest · (login for full post details)

blackberry

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

Big Mike

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

Mike

tturner86

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.

JohnS · (login for full post details)

blackberry

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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