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Wishing to trade NQ LIVE with 2K, any advice?


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Wishing to trade NQ LIVE with 2K, any advice?

  #81 (permalink)
 4tison 
PhuKet Island / Thailand
 
Experience: Advanced
Platform: Sierra Chart NT
Broker: IB / IQFeed
Trading: ES
Posts: 133 since Jul 2018
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Skidboot View Post
Today, 1 contract of NQ dropped almost $8,000. You can't be thinking of trading this with $2K capital. Trade micro futures but commisions are going to be bad for what you can make in them.

You are so correct!
It dropped horribly.
Got to watch it minutely.

Any advice as how to get it right,
to be on the right side and
not lost it all?

Thx

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  #82 (permalink)
 4tison 
PhuKet Island / Thailand
 
Experience: Advanced
Platform: Sierra Chart NT
Broker: IB / IQFeed
Trading: ES
Posts: 133 since Jul 2018
Thanks Given: 136
Thanks Received: 53


researcher247 View Post
It would be nice if new trader's realized this is a game for well-capitalized entry.

But hey - liquidity will be provided by the 1-5 contract underfunded accounts; regardless. Rinse/repeat.

Cheers!

Meaning?

What do you suggest those
with low funding learning how to trade do,
in order to become eventually profitable a little bit?

Thx

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  #83 (permalink)
 
lsubeano's Avatar
 lsubeano 
hollywood
 
Experience: Intermediate
Platform: thinkorswim
Broker: TD
Trading: futures
Posts: 213 since Jun 2010
Thanks Given: 65
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4tison View Post
I just got to read your valuable response.
Thx a mil.

What you mentioned is very true indeed, such as - -

1--don't be afraid to hold a position and don't be afraid to cut it quickly and reverse

2--if the market doesn't move quickly in your favor get out or reverse

3--if you don't know what you're doing don't get in a trade

4--don't trade with 2k----20k is better (either way you'll prob lose it if its your first account)

5--pay attention to every detail you can and know where daily/weekly highs/lows are and how markets act in that area

hope that helps....my 2c and yes there are brokers with $500 contract margin[/QUOTE

6--but you forgot to mention THE NAME OF THE BROKERAGE....?

Great advice.... much appreciated.


I don't promote brokers

just google and call 5-6 of them...you'll see.....but i wouldn't recommend that. use you 20k for a major top 5 broker (google again) and trade small imo

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  #84 (permalink)
kazz
London
 
Posts: 150 since Apr 2018
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TradingOgre View Post
Not to be harsh, but if you don't know that already you are not ready. NQ is a beast. Lots of potential for reward but also lots of potential for failure.

Don't be in such a hurry. Use your recovery time from surgery to play with NQ in a demo environment. @cory gave the best advice. Basically if you can't make it in the demo environment you will never make it in a live environment.

Hi, what broker would you recommend for demo trading? I live in the United Kingdom. Currently looking at AMP Global, the international arm of AMP Futures.

They have a beginner friendly initial deposit of $100 to open a live account. Granted this doesn't enable you to trade much.

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  #85 (permalink)
kazz
London
 
Posts: 150 since Apr 2018
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Blash View Post
I think some other choices should be consider.

Anything E-micro FX Futures...... M6E M6J M6B M6A etc....

With only such a tiny acct you are going to need to have super small risk and these choices are much better suited to that.

Remember the Big Boys of this profession are looking to do one thing and only one thing......

Transfer the money in your acct to their acct..... and it is all completely legal.

And they have every possible resource to accomplish this goal.

Ron

Thanks @Blash Are there other futures (apart from micro currency ones) that one can trade with such a small account?

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  #86 (permalink)
kazz
London
 
Posts: 150 since Apr 2018
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Arch View Post
For NQ, DLL of 5% of your 2K demo account.

What is DLL please?

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  #87 (permalink)
kazz
London
 
Posts: 150 since Apr 2018
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Binkius View Post
Please preserve your $2000!

Sim trade first. If you can't make money in simulation, you won't be able to make money live.

Sim will teach you what you don't know.

Success is probably going to be years away. You will need your $2000 for software, data fees, and instructional aid.

If you want to start trading live with no trading background, I recommend Vegas, Macau or Saipan. You will have a lot more fun with $2000 in those places than sitting in front of your computer.

Good luck!

You said that you need cash for "software, data fees etc..."

Wouldn't you get this from your broker in the form of a charting package?

Sorry for sounding like a compete idiot, I'm new to futures. It seems like a different world to trading equities and spot forex..

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  #88 (permalink)
kazz
London
 
Posts: 150 since Apr 2018
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TheShrike View Post
Practical? No. Prudent? No. NQ can rip your face off. CL is a choir boy compared to NQ. Build up a larger trading bankroll first and educate yourself in what you're getting into. No one should be trading futures contracts with 2k. Probably not what you want to hear but I promise you it's the truth.

What do you consider a suitable bankroll for trading futures? Thanks.

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  #89 (permalink)
kazz
London
 
Posts: 150 since Apr 2018
Thanks Given: 168
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lsubeano View Post
I think you're asking the wrong questions....and by the questions you've asked, and having major operation.....

no no no....def no....

but hey, I'm sure you'll do it anyway (b/c we all do it)-----

Anyway.....
know when to trade and when not to trade

know why the market moves and really know

don't be afraid to hold a position and don't be afraid to cut it quickly and reverse

if the market doesn't move quickly in your favor get out or reverse

if you don't know what you're doing don't get in a trade

don't trade with 2k----20k is better (either way you'll prob lose it if its your first account)

pay attention to every detail you can and know where daily/weekly highs/lows are and how markets act in that area

hope that helps....my 2c and yes there are brokers with $500 contract margin

With $500 margin can you trade any future contracts if you area holding positions for longer than a day?

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  #90 (permalink)
kazz
London
 
Posts: 150 since Apr 2018
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researcher247 View Post
It would be nice if new trader's realized this is a game for well-capitalized entry.

But hey - liquidity will be provided by the 1-5 contract underfunded accounts; regardless. Rinse/repeat.

Cheers!

Hi, thanks I'm new so forgive the obvious questions. Why do you have to be well capitalised in this game? If you have enough to cover the overnight margin aren't your good to go? In this case $5,000 should be enough to get started?

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Last Updated on December 4, 2018


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