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[QUOTE=TraderEX;693166]I started with 2k 21 months ago and have only used 3100 and now 3500 for the last 2 weeks, fixed at 2k. I live on the net profits week by week. In the 3800's for margin tomorrow. I lost 11,700 in 2014 and 15. Won 8 dollars in January 2017. This was my first profit ever. So, I am now 3.75 years from thinking, "Hmm m maybe I could just earn some pocket money" I just stuck to what I know.
Tradovate will take 2k to open. Free platform and 0.79 per side commissions. try the free 2 week demo first.
Godspeed with the surgery. Come back, we'll leave the light on.
EX
I thank my critic for the critique as forgetting what I stated above would lead an ignorant person astray. I simply shared my experience and made no suggestion for you to trade. Just provided you with the information on where to go if you felt ready to start. Since I see things in a "different" way and am an autodidact, when I hear my critics say that you cannot do this is because i cannot. Maybe he'll post where he trades, I'll show you how transfer that war chest, one tic at a time.
P.S. I forgot to tell you, I am a special case. The level of genius that it took for me to extract a paycheck every single month for last 21 months is what I possess. I am a pattern recognition expert (PRE) scoring 99.97%tile (3 of 10,000). Since I do not know you, I did not make the assumption that you were not. Everyday it gets easier and easier. Now that my back load of medicals bills have been paid, I should be able to scale a contract a week.
My algorithm is being coded by MIT and the marketing is aimed at e gamers in Japan; I trade manually. Limiting the sale to 4000 only at $4995.00 USD by Tencent: TCEHY. May be out before XMAS, or may not but will not see the states. I have a thread going in Journals about it. What I am sharing here can also be used at the NQ but somewhat less effective
I started a journal for all to see. Anyone thinking this is not my experience should cruise right by without stopping. I saw a good one on where to get ES support/resistance lines by daily email gratis. The thread is packed.
My critic and I agree on one thing, takes aLOSER to pay a winner. Not much insight needed but accurate.
Amazing that no one offers a pray or "hopes" for your recovery. The saying you can only service one GOD effectively is apparent in these rooms. Again, Godspeed sir.[/QUOTE @TraderEX this is very interesting. Are you saying that you are making a living trading a $2,000 account???
If so you appear to be a one off add most people on this forum say you need much more than that to just trade futures, let alone make a living?
It depends on what software you want to use. Most of the broker supplied software is pretty bad, which is why it's "free".
Ninja Trader is the most popular platform here on Fio (I think).
Figure out which trading style/system works best for you. I like Volume Profile and footprints, so I use IRT.
Some brokers have better data feeds than others. You want to avoid those which aggregate data. But for SIM-trading, it probably doesn't matter too much.
Your trading system/style will determine what you need in terms of software and data feed.
Good luck and there are no stupid questions! Preserve your capital!
Frankly, the NQ is a VERY fast market, Russell 2000, not as fast, S&P 500 slower yet. Want to make an income? Trade easier markets, not the harder ones. Experience is the best teacher if you can afford the tuition. Paid mine many times over.
It depends what kind of trading you're going to be doing. Give a little more information and I can possibly give you a better answer. Welcome to Thunderdome.
This will let you make some losing trades before being closed out.
The smaller your account, the tighter your margin of error. Trading ES, $500 is good for 10 points of loss before the account is closed down. Most people new to futures have a 20%-30% success rate per trade. Only 1/5 or 1/3 trades will be a winner.
This requires losing a lot of trades before you figure out what is going on.
I really recommend you do some SIM trading as cheaply as possible before risking real money. The futures market, as TheShrike just pointed out, is Thunderdome.
If you can find a broker who will give you something like Ninja Trader and a data feed for "free", that'd be great. If that doesn't work, Think or Swim from TD Ameritrade is, one of the better "free" broker software platforms and comes with data.
I don't have any experience with international brokers so I cannot recommend a demo. You can download the ninjatrader platform for free and play with market replay data. You would just download the current days data at the end of the day and then use the replay feature.
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
There is no way whatsoever to avoid having trades that don't work. Also known as losers. It doesn't take any skill at all to place a winning trade or a losing trade. This business is all about Risk Management..... That's it..... Whatever analytical approach you take to the market matters very little.
IT IS A HUGE, COMPLETE AND AMAZING ILLUSION THAT YOUR ANALYSIS MEANS YOU WILL HAVE A WINNING TRADE ON YOUR HANDS. (So awesome is this illusion that it can support a huge "trading" industry selling every manner of "methods" "systems' etc etc etc etc etc...........-----> ∞)
Say you have a system with a 70% edge on a sample size of 500 trades. It is still impossible to know the sequence of trades that work and those that don't. This sequence is random. You very well could have 5% (25 trades) of your 30% losers up front and wipe out your $5000 account Risking $200/trade.
Your broker would actually lock your account once you can no longer cover the margin....so it would happen (your trading business closes its doors) sooner in the above example than your account being at zero.
Therefore being well capitalized in this business is an incredible advantage. You can easily weather the storm and wait for the sequence of trades that work to show up.
I'm honestly trying to help here....I know it's kinda a bummer what I am saying.... just make sure you trade super small and learn more about yourself than about anything else. This business is mostly Psychological.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
No. In futures there are three numbers you need to worry about.
1. Intra-day margin. What you pay per contract during the normal trading day. Amount varies by broker. For many it is 500 dollars.
2. Initial margin. This is what is required to hold a position through end of day on the first day you purchase. Right now with my account initial margin on 1 contract of NQ is 7,700.
3. Maintenance Margin. This is what is needed to continue to hold it subsequent days. Currently at 5,000 with my broker.
