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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?

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  #1 (permalink)
PhuKet Island / Thailand
 
Experience: Beginner
Platform: Sierra Chart NT
Trading: ES
 
Posts: 124 since Jul 2018
Thanks: 123 given, 45 received

Seeking advices, if it is at all prudent or even practical
to venture into the pool of hungry sharks
with baits so insignificant?

All comments or suggestions or advice or
snickers or condemnations
or whatever are welcomed.

Keep it polite pls, there might be sister theresa around.

Any broker wish to offer free commission for sixty day
or much less, or whenever there is a margin all.... LOL

Starting in 30 days, after my by-pass operation!

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  #3 (permalink)
Evans GA/USA
 
Experience: Intermediate
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Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
 
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How good are you at trading simulation or demo accounts? How much experience do you have?

You will need to keep stops as tight as possible but still give NQ some room to move. It can swing quite a bit fairly quickly. In my opinion it can be done but it is entirely up to you.

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  #4 (permalink)
PhuKet Island / Thailand
 
Experience: Beginner
Platform: Sierra Chart NT
Trading: ES
 
Posts: 124 since Jul 2018
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just for practical reason:

how tight a stop, should be set?

1 2 3 4 5 6 7 8 etc points....?

Thx in advance.

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  #5 (permalink)
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
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Wishing to trade NQ LIVE with 2K, any advice?

4tison View Post
Seeking advices, if it is at all prudent or even practical

yes, if you meet these simple prerequisites;

1) set your demo account balance to 2K, and multiply it by 10X without any blow up
2) repeat this feast 3 times to avoid any streak of luck

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  #6 (permalink)
PhuKet Island / Thailand
 
Experience: Beginner
Platform: Sierra Chart NT
Trading: ES
 
Posts: 124 since Jul 2018
Thanks: 123 given, 45 received


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


yes, if you meet these simple prerequisites;

1) set your demo account balance to 2K, and multiply it by 10X without any blow up
2) repeat this feast 3 times to avoid any streak of luck

Thx much cory. That would be really challenging.

OK, what must I do to accomplish your valuable suggestion No. 1?
Thx in advance.

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  #7 (permalink)
the coin hunter
virginia
 
Experience: Intermediate
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4tison View Post
Thx much cory. That would be really challenging.

OK, what must I do to accomplish your valuable suggestion No. 1?
Thx in advance.

there is only 3 things market can do, up, down or side way, if you think it's up, long only, down short only, side way step aside.

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  #8 (permalink)
Evans GA/USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
 
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Posts: 550 since Jul 2018
Thanks: 902 given, 1,645 received


4tison View Post
just for practical reason:

how tight a stop, should be set?

1 2 3 4 5 6 7 8 etc points....?

Thx in advance.

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.

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  #9 (permalink)
Tampa, FL/USA
 
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The trading learning curve is years not days, weeks or months. There is no guarantee that you will ever be able to be consistently profitable- ever. This game is about survival first...capital preservation. Anyone who says otherwise is lying to you.

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  #10 (permalink)
Chicago, IL
 
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Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
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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

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Buy Low And Sell High (read left to right or right to left....lol)
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  #11 (permalink)
SF Bay Area + CA/US
 
Experience: None
Platform: TS, TOS, Ninja(Analytics)
Trading: NQ CL, ES when volatile mrkts
 
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it is possible....but not prudent. anything is possible.....but if one has done it before is where the conviction comes in....hope you understand that.

if one has not done it before....chances r slim they maybe good at growing a small account. also trades have to be selective i think.

all the best on the health front & yr trades..... if u have not traded real $s before....perhaps a SIM maybe good.

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  #12 (permalink)
Houston, TX
 
 
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Posts: 196 since Dec 2010
Thanks: 199 given, 283 received

Save your money. Trading futures successfully is not a 2K business. There may be some outlier stories in the past but realistically it is not plausible.



4tison View Post
Seeking advices, if it is at all prudent or even practical
to venture into the pool of hungry sharks
with baits so insignificant?

All comments or suggestions or advice or
snickers or condemnations
or whatever are welcomed.

Keep it polite pls, there might be sister theresa around.

Any broker wish to offer free commission for sixty day
or much less, or whenever there is a margin all.... LOL

Starting in 30 days, after my by-pass operation!


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  #13 (permalink)
W.Coast, USA.
 
Experience: Intermediate
Platform: Anything
Trading: Emini
 
Posts: 77 since Jul 2017
Thanks: 16 given, 50 received


4tison View Post
just for practical reason:

how tight a stop, should be set?

1 2 3 4 5 6 7 8 etc points....?

Thx in advance.

For NQ, DLL of 5% of your 2K demo account.

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  #14 (permalink)
Taipei/Taiwan
 
Experience: Beginner
Platform: IRT/Bookmap
Broker: S5
Trading: FESX, NQ
 
Posts: 33 since Apr 2016
Thanks: 31 given, 54 received

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!

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  #15 (permalink)
Hi Mom!
Bridgeport, Ct
 
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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.

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  #16 (permalink)
Maricopa, AZ.
 
 
Posts: 24 since Sep 2018
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8 ticks for the NQ if trading impulses...

ES

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  #17 (permalink)
hollywood
 
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4tison View Post
Seeking advices, if it is at all prudent or even practical
to venture into the pool of hungry sharks
with baits so insignificant?

All comments or suggestions or advice or
snickers or condemnations
or whatever are welcomed.

Keep it polite pls, there might be sister theresa around.

Any broker wish to offer free commission for sixty day
or much less, or whenever there is a margin all.... LOL

Starting in 30 days, after my by-pass operation!

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

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  #19 (permalink)
Chicago, IL
 
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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!

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  #20 (permalink)
 
 
Posts: 96 since Sep 2018
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4tison View Post
Seeking advices, if it is at all prudent or even practical
to venture into the pool of hungry sharks
with baits so insignificant?

All comments or suggestions or advice or
snickers or condemnations
or whatever are welcomed.

Keep it polite pls, there might be sister theresa around.

Any broker wish to offer free commission for sixty day
or much less, or whenever there is a margin all.... LOL

Starting in 30 days, after my by-pass operation!

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.

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  #21 (permalink)
Detroit, MI
 
Experience: Master
Platform: Sierra Chart
Trading: NQ, CL, ES, GC
 
Posts: 95 since Jul 2011
Thanks: 17 given, 124 received


4tison View Post
Seeking advices, if it is at all prudent or even practical
to venture into the pool of hungry sharks
with baits so insignificant?

All comments or suggestions or advice or
snickers or condemnations
or whatever are welcomed.

Keep it polite pls, there might be sister theresa around.

Any broker wish to offer free commission for sixty day
or much less, or whenever there is a margin all.... LOL

Starting in 30 days, after my by-pass operation!

Is this your first time trading the NQ or futures in general ? If it is, I would save your $2000 and trade SIM. I can tell you that if you are new...the NQ is the one of the absolute worst markets to attempt to daytrade live with a 2k account....well, that and the DAX. The NQ is very volatile and can move very fast. It offers many opportunities daily for seasoned traders but likewise can be a meat grinder for newer, less experienced traders.

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  #22 (permalink)
Maricopa, AZ.
 
 
Posts: 24 since Sep 2018
Thanks: 1 given, 6 received

The ES is twice the cost to trade compared to the NQ. Most new traders choose the ES. So I must commend you on your choice.

ES



4tison View Post
Seeking advices, if it is at all prudent or even practical
to venture into the pool of hungry sharks
with baits so insignificant?

All comments or suggestions or advice or
snickers or condemnations
or whatever are welcomed.

Keep it polite pls, there might be sister theresa around.

Any broker wish to offer free commission for sixty day
or much less, or whenever there is a margin all.... LOL

Starting in 30 days, after my by-pass operation!


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  #23 (permalink)
Market Wizard
Columbus OHIO
 
Experience: Intermediate
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Broker: NinjaTrader Brokerage
Trading: ES,
 
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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.

You really think CL is slower then NQ? The times when I've traded CL it seems like it has long periods of chop then BANG shoots off at extreme speeds, NQ is fast but at least it seems to give you lots of entries.. if your the shorter TF type.


-P

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  #24 (permalink)
Atlanta
 
 
Posts: 124 since Jan 2017
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What is your trading style, what is your business?

Sent using the futures.io mobile app

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  #25 (permalink)
PhuKet Island / Thailand
 
Experience: Beginner
Platform: Sierra Chart NT
Trading: ES
 
Posts: 124 since Jul 2018
Thanks: 123 given, 45 received


TraderEX View Post
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.

I read your post with immense interest.

Are you a part of the recommended Tradovate ?

Just how does it work?

Thx much

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  #26 (permalink)
PhuKet Island / Thailand
 
Experience: Beginner
Platform: Sierra Chart NT
Trading: ES
 
Posts: 124 since Jul 2018
Thanks: 123 given, 45 received


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

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.

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  #27 (permalink)
PhuKet Island / Thailand
 
Experience: Beginner
Platform: Sierra Chart NT
Trading: ES
 
Posts: 124 since Jul 2018
Thanks: 123 given, 45 received


Babool View Post
Is this your first time trading the NQ or futures in general ? If it is, I would save your $2000 and trade SIM. I can tell you that if you are new...the NQ is the one of the absolute worst markets to attempt to daytrade live with a 2k account....well, that and the DAX. The NQ is very volatile and can move very fast. It offers many opportunities daily for seasoned traders but likewise can be a meat grinder for newer, less experienced traders.

Thx a mil for your advice and insight as well.

I shall watch my step very carefully
so as I would have enough to trade
again the following day.

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  #28 (permalink)
PhuKet Island / Thailand
 
Experience: Beginner
Platform: Sierra Chart NT
Trading: ES
 
Posts: 124 since Jul 2018
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MichaelFlowTrader View Post
What is your trading style, what is your business?

Sent using the futures.io mobile app

My trading style?

To stay alive, so I could trade again the next session or day.

Am currently unemployed.

Have plenty of time in hand though.

Hope to stay alive for a few days? Weeks? Months? Longer....?

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  #29 (permalink)
PhuKet Island / Thailand
 
Experience: Beginner
Platform: Sierra Chart NT
Trading: ES
 
Posts: 124 since Jul 2018
Thanks: 123 given, 45 received


ElectricSavant View Post
The ES is twice the cost to trade compared to the NQ. Most new traders choose the ES. So I must commend you on your choice.

ES

You are a master trader,

give me some specifics so I may
perhaps stay alive a little longer than most....?

Thx in advance.

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  #30 (permalink)
PhuKet Island / Thailand
 
Experience: Beginner
Platform: Sierra Chart NT
Trading: ES
 
Posts: 124 since Jul 2018
Thanks: 123 given, 45 received


Babool View Post
Is this your first time trading the NQ or futures in general ? If it is, I would save your $2000 and trade SIM. I can tell you that if you are new...the NQ is the one of the absolute worst markets to attempt to daytrade live with a 2k account....well, that and the DAX. The NQ is very volatile and can move very fast. It offers many opportunities daily for seasoned traders but likewise can be a meat grinder for newer, less experienced traders.

Babool, you are a master trader,

how about giving me some specific
trading tips or advices?

Thx much in advance.

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  #31 (permalink)
Maricopa, AZ.
 
 
Posts: 24 since Sep 2018
Thanks: 1 given, 6 received

I do not qualify currently. Try asking a profitable trader.

ES


4tison View Post
You are a master trader,

give me some specifics so I may
perhaps stay alive a little longer than most....?

Thx in advance.


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  #32 (permalink)
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ElectricSavant View Post
I do not qualify currently. Try asking a profitable trader.

ES

May I ask, what happened?

Did something go wrong with your trades?

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  #33 (permalink)
Detroit, MI
 
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4tison View Post
Babool, you are a master trader,

how about giving me some specific
trading tips or advices?

Thx much in advance.

Lol, well I have been trading for 18 years. Not sure what your asking about trading tips and advice. It's difficult to give a couple sentences of advice that would be helpful to someone new except to say that most people getting into this business drastically underestimate the time, effort and work involved to become profitable. This is a journey that will take you many years and even then there will be no guarantees.

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  #34 (permalink)
Antwerp
 
 
Posts: 454 since Jun 2016

2K seems extremely low for a volatile instrument like NQ.
A few bad trades in a row and you are down to 0, and no matter what you think, everyone experiences a losing streak every now and then.

You might be better of trading some of the micro futures.





Ps; For everyone reading this: A like/thanks to my original post in the link below would be very much appreciated since i can win a price with it!

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  #35 (permalink)
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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.

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Yes. I do not have a quantifiable edge seems to be the nagging problem I face. Good edges are not shared freely...you literally have to be a coder to be a quant trader.

Es


4tison View Post
May I ask, what happened?

Did something go wrong with your trades?


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  #37 (permalink)
Camarillo CA
 
 
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4tison View Post
just for practical reason:

how tight a stop, should be set?

1 2 3 4 5 6 7 8 etc points....?

Thx in advance.


Like at least 15 points

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  #38 (permalink)
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Jdesey View Post
Like at least 15 points

Stop should be determined based on the method and timeframe your trading. We know nothing about the original posters trading method. Looking at his posts leads me to believe that this is his first attempt at trading.

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  #39 (permalink)
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I think it is possible to survive with only $2000. It isn't ideal, but could work if you do the following:

If you already come out ahead in Sim trading.

If you can take the same mindset live.

If you can take the same setups live.

If you obey the same money management live.

If you manage your trades properly live.

If you know who you are as a trader.

*I think money management, and having an idea of what you are doing are the major keys.

Be well.

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Antwerp
 
 
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MichaelFlowTrader View Post
I think it is possible to survive with only $2000. It isn't ideal, but could work if you do the following:

If you already come out ahead in Sim trading.

If you can take the same mindset live.

If you can take the same setups live.

If you obey the same money management live.

If you manage your trades properly live.

If you know who you are as a trader.

*I think money management, and having an idea of what you are doing are the major keys.

Be well.

And what if you happen to start trading live just when the system has a losing streak?
2K with NQ like it has been moving the last few day's is very unrealistic.

Probably less than 0.01% of the traders could grow the account to a decent amount from 2K trading the NQ.
He would be much better of trading micro futures or OTC products where he can adjust his trading size to the balance.

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  #41 (permalink)
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MichaelFlowTrader View Post
I think it is possible to survive with only $2000. It isn't ideal, but could work if you do the following:

If you already come out ahead in Sim trading.

If you can take the same mindset live.

If you can take the same setups live.

If you obey the same money management live.

If you manage your trades properly live.

If you know who you are as a trader.

*I think money management, and having an idea of what you are doing are the major keys.

Be well.

Thanks much for your positive suggestion.
Much appreciated.

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  #42 (permalink)
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Babool View Post
Is this your first time trading the NQ or futures in general ? If it is, I would save your $2000 and trade SIM. I can tell you that if you are new...the NQ is the one of the absolute worst markets to attempt to daytrade live with a 2k account....well, that and the DAX. The NQ is very volatile and can move very fast. It offers many opportunities daily for seasoned traders but likewise can be a meat grinder for newer, less experienced traders.

Babool,

You are so very correct, the NQ has a temperment of its own.

Today is Thursday morning, 2018-10-11

My NQ chart is going crazy all over the place
for most part of the morning,

is there something going on over
in the US markets or else where?

I am 15,000 miles away.


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4tison View Post
My NQ chart is going crazy all over the place
for most part of the morning,

is there something going on over
in the US markets or else where?

My thoughts for the reason would be, If you looked at a DOM which showed a sum for the total of order depth on the Bid or Offer you would have seen that for ten layers of depth the sum yesterday was only between about 60-80 each side for the whole day. Normally it is around 150-180 or so. More pronounced on the ES which only had about 1700 per side when normally it is 3500-4000. I would guess most of the scalping style algos were switched off for the day after yesterday's huge drop and the increase in the VIX. That gives a thinner order book so orders can be swept through more easily and allow for cleaner momentum runs. All my supposition though so it could be completely wrong.

Today was a rotational consolidation day finding balance after the previous day's big move. The swings were big, 230 points range in the RTH session, but the market just went back and forth through the open all day (yellow line), and closed there at the end.


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  #44 (permalink)
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$2000 is absolutely possible. If you have a profitable strategy/system it can be done. If you have never traded NQ live, be ready to keep your emotions under control once you do. If you can't keep them under control, then $2000 isn't enough.

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  #45 (permalink)
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4tison View Post
Seeking advices, if it is at all prudent or even practical
to venture into the pool of hungry sharks
with baits so insignificant?

All comments or suggestions or advice or
snickers or condemnations
or whatever are welcomed.

Keep it polite pls, there might be sister theresa around.

Any broker wish to offer free commission for sixty day
or much less, or whenever there is a margin all.... LOL

Starting in 30 days, after my by-pass operation!

Actually, it is not a wise decision to start with 2K and expect to get rich.
If the 2K is an investment in your learning process, it is simply a place to start.

I hate to suggest SIM trading because it is difficult to break out of the rut it puts you into and much harder to experience the 'risk' of trading real $.
But starting with 2K is not realistic.

Can it be done?
Not impossible but highly unlikely to be a successful outcome if profits are your objective.

About your comment about 'Starting in 30 days..."
Are you serious? Start trading after a BY-PASS Operation?
Are you aware that trading can be a very stressful process?
I'm not sure your Dr. will approve of your rehabilitation activity choice.
After such a procedure, I think a less stressful option should be your choice.
Perhaps just watching the market rather than experiencing it.

But it sounds like you have made your choice and can see the stars.
Just don't use any more $ than you consider 'recreational funds'.
If you can't afford to throw the $$ out the window on the way back from your by-pass, then I suggest you not put any $ at risk.

FWIW

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
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  #46 (permalink)
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MichaelFlowTrader View Post
I think it is possible to survive with only $2000. It isn't ideal, but could work if you do the following:

If you already come out ahead in Sim trading.

If you can take the same mindset live.

If you can take the same setups live.

If you obey the same money management live.

If you manage your trades properly live.

If you know who you are as a trader.

*I think money management, and having an idea of what you are doing are the major keys.

Be well.

What IF...
I have read what you wrote 10 years ago...
THEN I would NOT have to endure the hardship of trading small account the first couple years of learning to trade "Drama Queen" ES eMini.
@4tison
Just don't do it!


Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
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  #47 (permalink)
Antwerp
 
 
Posts: 454 since Jun 2016

Since so many people here are convinced that it is possible, please provide some successtory's from futures day traders who started with a <5K account and traded it to >50K.

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  #48 (permalink)
the coin hunter
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RDK91 View Post
Since so many people here are convinced that it is possible, please provide some successtory's from futures day traders who started with a <5K account and traded it to >50K.

far from many, I would say a few think it maybe possible only if ( a list of actions to satisfy first).

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  #49 (permalink)
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Why not trade something like ZF (5-year note)? It moves like paint drying, but you won't be destroyed as easily as you will trading NQ, YM or CL. Fast markets are a dopamine junkies 'fix' with their quick profits and losses, but most I bet just get ran over. Learn how to trade the DOM, and I bet you keep more of your $2000.

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DavidHP View Post
Just don't use any more $ than you consider 'recreational funds'.
If you can't afford to throw the $$ out the window on the way back from your by-pass, then I suggest you not put any $ at risk.


This is great stuff... just as in racing, you have to understand that all the money you have tied up in that car is at risk and you'd better be willing to just drive it off a cliff and walk away from it (although trading is not nearly as dangerous from a physical standpoint lol.)

OP, I think you would be well served to look at an instrument that would allow you to stay in the game much longer while learning how to trade, such as the micro currencies, especially if you've never traded live before. NQ can be fast and furious, enough to easily rip through $2K in a day.

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  #51 (permalink)
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Convinced of what is possible?


RDK91 View Post
Since so many people here are convinced that it is possible,


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  #52 (permalink)
Antwerp
 
 
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Skidboot View Post
Convinced of what is possible?

Trading NQ futures with 2K ...
Of course you can trade NQ with 2K, the question is what are the odds that you will survive in the long run and manage to grow the account to a decent size.

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  #53 (permalink)
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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

Thx very much for your very sound advice.

Much obliged.

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RDK91 View Post
Trading NQ futures with 2K ...
Of course you can trade NQ with 2K, the question is what are the odds that you will survive in the long run and manage to grow the account to a decent size.

Could you please
elaborate a little more,

on the chance of survival
with only 2K,

trading NQ, 6E, GQ and CL....?

Much thx in advance.

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  #55 (permalink)
Revali, EE
 
 
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Can one trade NQ with 2000$ account? Yes.

Can You trade NQ with 2000$ account?

I can only conclude by the question that you are new to trading. You have only given one parameter to your question.
Do you only trade intraday or you average trade holding time is longer? Whats is your expected maximum drawdown? Sharp Ratio? Expectancy? How much size do you trade? What are your commissions etc.
If you would ask those questions, you would answer your own question. So lets be harsh and say you probably can not.

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4tison View Post
Could you please
elaborate a little more,

on the chance of survival
with only 2K,

trading NQ, 6E, GQ and CL....?

Much thx in advance.

Micro futures or otc products.
And even then ... unless you give yourself many many years to grow it to a decent size.

How much money do you want to make from the 2K?

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  #57 (permalink)
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Wait until volatility is lower.

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  #58 (permalink)
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RDK91 View Post
Micro futures or otc products.
And even then ... unless you give yourself many many years to grow it to a decent size.

How much money do you want to make from the 2K?

Just about 4 tics a day on ES
or 1 point
or 20 dollars
per trading session

DO YOU THINK THAT IS
ATTAINABLE?

REASONABLY SANE EXPECTATION?

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matthew28 View Post
My thoughts for the reason would be, If you looked at a DOM which showed a sum for the total of order depth on the Bid or Offer you would have seen that for ten layers of depth the sum yesterday was only between about 60-80 each side for the whole day. Normally it is around 150-180 or so. More pronounced on the ES which only had about 1700 per side when normally it is 3500-4000. I would guess most of the scalping style algos were switched off for the day after yesterday's huge drop and the increase in the VIX. That gives a thinner order book so orders can be swept through more easily and allow for cleaner momentum runs. All my supposition though so it could be completely wrong.

Today was a rotational consolidation day finding balance after the previous day's big move. The swings were big, 230 points range in the RTH session, but the market just went back and forth through the open all day (yellow line), and closed there at the end.


Thx for your explanation and
also the attached pix.

Will watch my step very very carefully,
so I can keep posting and asking advices
for many more days? weeks? months?
and perhaps YEARS....?

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4tison View Post
Just about 4 tics a day on ES
or 1 point
or 20 dollars
per trading session

DO YOU THINK THAT IS
ATTAINABLE?

REASONABLY SANE EXPECTATION?

Hi 4tison

Most people that start with trading seem typically to ask this very question: When will I be able to make x per day?

My own take on this is that once somebody has been able to reach a result that can be averaged positively per day, that person has already overcome most of the issues traders struggle with and has achieved consistency.

This means, unfortunately, that is it not easy to make x per day consistently at the beginning. "x" could even be as little as 20 USD per day but, if you are starting just now, as low as it may seem and as achievable as it may look, you may be in for a disappointment.

It takes a considerable amount of practice to be able to be consistent in the markets and you may need to be prepared also to lose a sizable amount of money before having any significant chance of being consistent, with no guarantee whatsoever that eventually you will be consistent.


So, as others already pointed out: can 2,000 dollars be enough? For an experienced trader: possibly. For one that is starting now: extremely unlikely.


My 2 cents.

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  #61 (permalink)
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https://www.nasdaq.com/article/trade-to-trade-well-not-make-money-cm34102

Trade to Trade Well- Not Make Money
By: DTI
Posted: 8/26/2010 2:53:00 PM
Referenced Stocks:
Trade To Trade Well, Not To Make Money!

I have repeated this statement hundreds of times to my students. It seems like a contradiction but it really is not. Traders who routinely make enormous amounts of money trading don’t mentally count the dollars while they’re trading. They don’t keep a mental calculator continuously running in their head to constantly keep track of how much money they’ve put into their account. “Let’s see, I bought 1000 shares of Haliburton and it’s up one point, times one dollar a share, equals 1000 dollars!”
Nothing and I mean nothing, will blow your concentration and cloud your judgment faster than keeping that calculator running in your head, calculating the dollars you’ve made or lost each minute that goes by during the trading day.Another booby trap is to announce to the world, your husband, wife or even your dog that you’re going to make a specific amount of money trading today. You’re setting yourself up for failure. Setting as specific dollar amount you must bring home each day, especially if you’re a beginning trader, assures that it probably won’t happen. This need to make a specific amount of money colors your view of the market and pressures you to open positions that are marginal trades because you have promised yourself or worse yet, someone else - that you’re going to bring home the cash! Your pledge echoes in your mind, so you force trades. Odds are, you lose money. Now you’re embarrassed with yourself and you start questioning your self-esteem, which automatically leads to more losses. The cure for this illness: From this point forward, your goal is not to make money. Your goal is to trade to trade well! Money is a by-product of trading well. A very interesting thing starts to happen when you focus on trading well. Your profits will start to add up a lot faster than they did when making money was your primary goal. This is simply because traders who focus on trading well cut their losses and let their winners run. They protect their capital and leave unnecessary risks to others. They recognize a choppy market and sit on their hands and don’t trade. They make promises to no one, including themselves, about the money they want to take home. Traders who trade well let the market come to them. They are extremely patient and disciplined. They wait for the perfect setup and entry point. If that perfect point doesn’t come along, oh well, they wait for the next one knowing that another chance is just around the corner. Once in the trade, they mechanically and methodically manage their position, taking profits at specific points, and moving their stop loss to protect their principal. Traders who trade well don’t trade simply for the excitement of the trade because they have become addicted to the thrill. They don’t trade out of boredom or when they are sick or tired. They don’t trade especially if they have stress in their life that disallows their full focus on the market. Successful traders always abide by their trading rules and never stray from them. Traders who trade well are perfectionists and are very wealthy as a result of their unwavering discipline. You too should have this goal.


Happy Trading!

Past performance is not indicitive of future results. Futures trading involves substantial financial risk. Please consult your personal financial advisor before using this information for your own trading purposes.

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https://www.investopedia.com/articles/basics/12/goals-for-novice-traders.asp

Goals for Novice Traders
BY: Cory Mitchell, CMT
When you begin trading, there are a lot of questions. With all the information out there it can be hard to decide where to start. Setting goals can help, but often novice traders set the wrong type of goals. As a novice trader your initial goals should help you eventually make money, but making money should not be your goal. Instead, opt to make your initial goals about process and emulating traits of professional traders.

Make Your Goals About Process, Not Results
Initially, traders want to make goals about numbers: "I will make 1% per day on my $30,000 capital," or "I will make 30% per year." While it seems simple, to actually get to certain percentage or dollar targets you will need to refine your market approach and hone your discipline. By plunging into the market and expecting to make a certain amount of money, the goal becomes almost impossible to reach over the long-term. These types of goals require the trader to truly understand the capabilities (and limitations) of the trading plan they are employing, not just think they understand.

Based on the method being used, it may be impossible to reach a dollar or percentage goal, but it still could be valid and provide a good return; therefore, the trader must either abandon the strategy or deviate from it in an attempt to find more yields. For many traders this becomes an endless cycle of abandoning strategy after strategy. Looking at charts in hindsight makes trading look easy, but those who trade know it is harder than it looks. Novice traders must not only become knowledgeable about the markets, but also about themselves.

Just like any other business, to become a good trader you must focus on a solid process. Results will not come instantly. Most businesses require quite a bit of time before profits are made, and many businesses fail completely. Trading is no different. Without understanding how the markets truly work and developing a winning process, the results are based on chance, not skill. (For related reading, see: 10 Steps to Building a Winning Trading Plan.)

To build a winning process for trading the markets, try using these three goals.

Always Have a Plan
In business school, you are taught that to start a business you need a business plan. Trading is a business. Therefore, every time you trade you must be trading according to a well-thought-out and calculated plan.

The plan should include how trades will be entered and exited and how money will be managed. The plan should be very detailed, outlining the markets that will be traded, risk parameters, if filters will be used on trade signals, what constitutes a trade and exit signal, position size, what market environments will be traded, and how that will be determined, such as ranges or trends.

Therefore, the goal here is to create a complete plan before making another trade.

Learn Not to Trade
Especially when a specific dollar amount is the goal, traders will push to achieve that goal, even when opportunities are not present. The market does not present statistically probable trading opportunities at all times, often you will be far better off sitting on your hands or watching TV than trading. This does not sit well with most people; they want to continually be doing something. In the markets this can slowly (or quickly) erode the profits that came during good trading times.

Trading during slow times or making impulsive trades outside the scope of the plan is such a common issue that it deserves special attention. Make one of your goals to be as disciplined as possible, only making trades that are outlined in the plan. (For related reading, see: The Key to High Returns Is a Disciplined Strategy.)

Keep It Simple
A complex strategy can be very alluring. Many people believe because something is complex it is more likely to work. Avoid getting too fancy with your analysis and trading strategies or making a winning trading plan more complex—usually this only results in destroying the profitability of it. If you like the stock market, stick with trading stocks. If you like currencies, then trade FOREX. Focus on only one market and a couple of simple strategies when starting out.

The goal here is to avoid constant tinkering to improve performance, or continuously switching markets, strategies or analysis methods. Stick to the plan. If it occasionally needs to be reworked a bit that is fine, but keep the revisions simple and avoid getting overly complex.

The Bottom Line
When starting out, be a niche trader focused on a very few manageable goals. Results will come in time if you are trading according to a trading plan, not trading when there are no opportunities, and avoiding getting too complex. (For related reading, see: The Importance of Trading Psychology and Discipline.)

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  #63 (permalink)
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I think that if you scalp and can cut off your losers early, you can trade almost any account size. Traders who go for a tight stop and a large TP are the ones who definitely need a larger account, also those large TP chasers who are willing to take a lot of heat via drawdown. A scalper with an appropriate stop and willingness to exit trades even earlier when momentum isn't on their side will live to see more days on a tiny account than any other type of trader, they will also find it easier to handle greater leverage.

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  #64 (permalink)
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RDK91 View Post
Micro futures or otc products.
And even then ... unless you give yourself many many years to grow it to a decent size.

How much money do you want to make from the 2K?

Perhaps $50 per session?

Would that be too optimistic, you think?

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  #65 (permalink)
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Skidboot View Post
https://www.investopedia.com/articles/basics/12/goals-for-novice-traders.asp

Goals for Novice Traders
BY: Cory Mitchell, CMT
When you begin trading, there are a lot of questions. With all the information out there it can be hard to decide where to start. Setting goals can help, but often novice traders set the wrong type of goals. As a novice trader your initial goals should help you eventually make money, but making money should not be your goal. Instead, opt to make your initial goals about process and emulating traits of professional traders.

Make Your Goals About Process, Not Results
Initially, traders want to make goals about numbers: "I will make 1% per day on my $30,000 capital," or "I will make 30% per year." While it seems simple, to actually get to certain percentage or dollar targets you will need to refine your market approach and hone your discipline. By plunging into the market and expecting to make a certain amount of money, the goal becomes almost impossible to reach over the long-term. These types of goals require the trader to truly understand the capabilities (and limitations) of the trading plan they are employing, not just think they understand.

Based on the method being used, it may be impossible to reach a dollar or percentage goal, but it still could be valid and provide a good return; therefore, the trader must either abandon the strategy or deviate from it in an attempt to find more yields. For many traders this becomes an endless cycle of abandoning strategy after strategy. Looking at charts in hindsight makes trading look easy, but those who trade know it is harder than it looks. Novice traders must not only become knowledgeable about the markets, but also about themselves.

Just like any other business, to become a good trader you must focus on a solid process. Results will not come instantly. Most businesses require quite a bit of time before profits are made, and many businesses fail completely. Trading is no different. Without understanding how the markets truly work and developing a winning process, the results are based on chance, not skill. (For related reading, see: 10 Steps to Building a Winning Trading Plan.)

To build a winning process for trading the markets, try using these three goals.

Always Have a Plan
In business school, you are taught that to start a business you need a business plan. Trading is a business. Therefore, every time you trade you must be trading according to a well-thought-out and calculated plan.

The plan should include how trades will be entered and exited and how money will be managed. The plan should be very detailed, outlining the markets that will be traded, risk parameters, if filters will be used on trade signals, what constitutes a trade and exit signal, position size, what market environments will be traded, and how that will be determined, such as ranges or trends.

Therefore, the goal here is to create a complete plan before making another trade.

Learn Not to Trade
Especially when a specific dollar amount is the goal, traders will push to achieve that goal, even when opportunities are not present. The market does not present statistically probable trading opportunities at all times, often you will be far better off sitting on your hands or watching TV than trading. This does not sit well with most people; they want to continually be doing something. In the markets this can slowly (or quickly) erode the profits that came during good trading times.

Trading during slow times or making impulsive trades outside the scope of the plan is such a common issue that it deserves special attention. Make one of your goals to be as disciplined as possible, only making trades that are outlined in the plan. (For related reading, see: The Key to High Returns Is a Disciplined Strategy.)

Keep It Simple
A complex strategy can be very alluring. Many people believe because something is complex it is more likely to work. Avoid getting too fancy with your analysis and trading strategies or making a winning trading plan more complex—usually this only results in destroying the profitability of it. If you like the stock market, stick with trading stocks. If you like currencies, then trade FOREX. Focus on only one market and a couple of simple strategies when starting out.

The goal here is to avoid constant tinkering to improve performance, or continuously switching markets, strategies or analysis methods. Stick to the plan. If it occasionally needs to be reworked a bit that is fine, but keep the revisions simple and avoid getting overly complex.

The Bottom Line
When starting out, be a niche trader focused on a very few manageable goals. Results will come in time if you are trading according to a trading plan, not trading when there are no opportunities, and avoiding getting too complex. (For related reading, see: The Importance of Trading Psychology and Discipline.)

That is really down to earth and honest and truthful and
perhaps, a money making approach to trading live and for real money.

Thx so much.

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  #66 (permalink)
Antwerp
 
 
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4tison View Post
Perhaps $50 per session?

Would that be too optimistic, you think?

It is possible, however 50$ on NQ is just 2.5 points.
Such small moves can often happen in seconds so you will have to be very very conservatieve and consistent.

Make sure you tested the system before you go live because the deposit could be gone before you know it.

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  #67 (permalink)
the coin hunter
virginia
 
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check out Org journal trading NQ starting with 1K account

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  #68 (permalink)
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RDK91 View Post
It is possible, however 50$ on NQ is just 2.5 points.
Such small moves can often happen in seconds so you will have to be very very conservatieve and consistent.

Make sure you tested the system before you go live because the deposit could be gone before you know it.

Thx a mil, indeed.

Especially, like the last few days....

Yes, I shall be very conservative,
or else, there might not be enough
to trade during the next session.

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  #69 (permalink)
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cory View Post
check out Org journal trading NQ starting with 1K account

Thx cory

Will check it out after markets.

Did he/she make it to....?

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  #70 (permalink)
Evans GA/USA
 
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4tison View Post
Thx cory

Will check it out after markets.

Did he/she make it to....?

Just started it. Up $340 on the first day of trading. I will be posting video's daily to YouTube. First one is up but doesn't have sound. Just got all the stuff together and all the video's from now on will have sound.

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  #71 (permalink)
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Brandenton View Post
$2000 is absolutely possible. If you have a profitable strategy/system it can be done. If you have never traded NQ live, be ready to keep your emotions under control once you do. If you can't keep them under control, then $2000 isn't enough.

Thx a bundle, Brandenton.

I shall try to keep my trading emotions under control,
so I may trade again tomorrow, God willing.

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  #72 (permalink)
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cory View Post
check out Org journal trading NQ starting with 1K account

Thx cory

I did go there per your ref. Thx.

He seems to be an acute trader
of his own style.

He said that he would go on live tomorrow,
with his audio calling out trade and
also with his trading charts and all;

showing his right hand side of
the chart;

that would give him credence
to how good he is, as he has been an
experienced forex trader of many years,
per his elaboration.

Wish him all the best, really.

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  #73 (permalink)
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DavidHP View Post
Actually, it is not a wise decision to start with 2K and expect to get rich.
If the 2K is an investment in your learning process, it is simply a place to start.

I hate to suggest SIM trading because it is difficult to break out of the rut it puts you into and much harder to experience the 'risk' of trading real $.
But starting with 2K is not realistic.

Can it be done?
Not impossible but highly unlikely to be a successful outcome if profits are your objective.

About your comment about 'Starting in 30 days..."
Are you serious? Start trading after a BY-PASS Operation?
Are you aware that trading can be a very stressful process?
I'm not sure your Dr. will approve of your rehabilitation activity choice.
After such a procedure, I think a less stressful option should be your choice.
Perhaps just watching the market rather than experiencing it.

But it sounds like you have made your choice and can see the stars.
Just don't use any more $ than you consider 'recreational funds'.
If you can't afford to throw the $$ out the window on the way back from your by-pass, then I suggest you not put any $ at risk.

FWIW

Thx for your advice. Will take a note of that and be very cautious.

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  #74 (permalink)
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TraderEX View Post
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.

Thx much indeed for your thoughtfulness.

Indeed, it takes a loser to pay a winner or his brokers.... LOL

There are many profitable and consistently profitable traders
around here. They are just too egotistic.... LOL, to
spend their minutes and hours, to get involved.... LOL

Greater trading days ahead, TraderEX; wishing you the very best!

Cheers and thx.

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  #75 (permalink)
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  #76 (permalink)
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TradingOgre View Post
Just started it. Up $340 on the first day of trading. I will be posting video's daily to YouTube. First one is up but doesn't have sound. Just got all the stuff together and all the video's from now on will have sound.

First one is up but doesn't have sound....

Pls post linkage to your site, thx?

Click where it says, SHARE....

The Word SHARE appears below
the screen, on the lower right hand corner, K?

Have fun and profitable trading.

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  #77 (permalink)
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4tison View Post
First one is up but doesn't have sound....

Pls post linkage to your site, thx?

Click where it says, SHARE....

The Word SHARE appears below
the screen, on the lower right hand corner, K?

Have fun and profitable trading.

I would lend lots of credence to your post
and your video;

if you would always include the CHART TRADER,
appearing on the right hand side of
your trading screen;

where it would show what a great call you make
each time....

alright....? Thx much for sharing.

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  #78 (permalink)
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4tison View Post
First one is up but doesn't have sound....

Pls post linkage to your site, thx?

Click where it says, SHARE....

The Word SHARE appears below
the screen, on the lower right hand corner, K?

Have fun and profitable trading.



4tison View Post
First one is up but doesn't have sound....

Pls post linkage to your site, thx?

Click where it says, SHARE....

The Word SHARE appears below
the screen, on the lower right hand corner, K?

Have fun and profitable trading.

I would lend lots of credence to your post
and your video;

if you would always include the CHART TRADER,
appearing on the right hand side of
your trading screen;

where it would show what a great call you make
each time....

alright....? Thx much for sharing.
=======

When you have your video posted on yourtube,
remember to post a linkage for us to watch and
learn your trading screens and style, K?
=======

This is what I meant by showing your right hand
screen where CHART TRADER appears, to track
your live trade as it moves along, from initiating
your position to liquidating, K?

Hope you are doing much better.


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  #79 (permalink)
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4tison View Post
I would lend lots of credence to your post
and your video;

if you would always include the CHART TRADER,
appearing on the right hand side of
your trading screen;

where it would show what a great call you make
each time....

alright....? Thx much for sharing.
=======

When you have your video posted on yourtube,
remember to post a linkage for us to watch and
learn your trading screens and style, K?
=======

This is what I meant by showing your right hand
screen where CHART TRADER appears, to track
your live trade as it moves along, from initiating
your position to liquidating, K?

Hope you are doing much better.



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  #80 (permalink)
Evans GA/USA
 
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4tison View Post

Nice trade but your thread is about trading NQ not CL what changed your mind?

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  #81 (permalink)
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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)
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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!

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)
hollywood
 
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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)
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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)
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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)
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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)
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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)
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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)
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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)
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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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  #91 (permalink)
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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?

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  #92 (permalink)
Taipei/Taiwan
 
Experience: Beginner
Platform: IRT/Bookmap
Broker: S5
Trading: FESX, NQ
 
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kazz View Post
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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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!

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  #93 (permalink)
Los Angeles
 
Experience: Advanced
Platform: Ninja Trader
Trading: TF
 
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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.

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  #94 (permalink)
Hi Mom!
Bridgeport, Ct
 
Experience: None
Broker: Tasty
Trading: STONKS
 
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kazz View Post
What do you consider a suitable bankroll for trading futures? Thanks.

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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.

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  #95 (permalink)
Taipei/Taiwan
 
Experience: Beginner
Platform: IRT/Bookmap
Broker: S5
Trading: FESX, NQ
 
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kazz View Post
What do you consider a suitable bankroll for trading futures? Thanks.

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2x overnight margin.

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.

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  #96 (permalink)
London
 
 
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Skidboot View Post
https://www.investopedia.com/articles/basics/12/goals-for-novice-traders.asp

Goals for Novice Traders
BY: Cory Mitchell, CMT
When you begin trading, there are a lot of questions. With all the information out there it can be hard to decide where to start. Setting goals can help, but often novice traders set the wrong type of goals. As a novice trader your initial goals should help you eventually make money, but making money should not be your goal. Instead, opt to make your initial goals about process and emulating traits of professional traders.

Make Your Goals About Process, Not Results
Initially, traders want to make goals about numbers: "I will make 1% per day on my $30,000 capital," or "I will make 30% per year." While it seems simple, to actually get to certain percentage or dollar targets you will need to refine your market approach and hone your discipline. By plunging into the market and expecting to make a certain amount of money, the goal becomes almost impossible to reach over the long-term. These types of goals require the trader to truly understand the capabilities (and limitations) of the trading plan they are employing, not just think they understand.

Based on the method being used, it may be impossible to reach a dollar or percentage goal, but it still could be valid and provide a good return; therefore, the trader must either abandon the strategy or deviate from it in an attempt to find more yields. For many traders this becomes an endless cycle of abandoning strategy after strategy. Looking at charts in hindsight makes trading look easy, but those who trade know it is harder than it looks. Novice traders must not only become knowledgeable about the markets, but also about themselves.

Just like any other business, to become a good trader you must focus on a solid process. Results will not come instantly. Most businesses require quite a bit of time before profits are made, and many businesses fail completely. Trading is no different. Without understanding how the markets truly work and developing a winning process, the results are based on chance, not skill. (For related reading, see: 10 Steps to Building a Winning Trading Plan.)

To build a winning process for trading the markets, try using these three goals.

Always Have a Plan
In business school, you are taught that to start a business you need a business plan. Trading is a business. Therefore, every time you trade you must be trading according to a well-thought-out and calculated plan.

The plan should include how trades will be entered and exited and how money will be managed. The plan should be very detailed, outlining the markets that will be traded, risk parameters, if filters will be used on trade signals, what constitutes a trade and exit signal, position size, what market environments will be traded, and how that will be determined, such as ranges or trends.

Therefore, the goal here is to create a complete plan before making another trade.

Learn Not to Trade
Especially when a specific dollar amount is the goal, traders will push to achieve that goal, even when opportunities are not present. The market does not present statistically probable trading opportunities at all times, often you will be far better off sitting on your hands or watching TV than trading. This does not sit well with most people; they want to continually be doing something. In the markets this can slowly (or quickly) erode the profits that came during good trading times.

Trading during slow times or making impulsive trades outside the scope of the plan is such a common issue that it deserves special attention. Make one of your goals to be as disciplined as possible, only making trades that are outlined in the plan. (For related reading, see: The Key to High Returns Is a Disciplined Strategy.)

Keep It Simple
A complex strategy can be very alluring. Many people believe because something is complex it is more likely to work. Avoid getting too fancy with your analysis and trading strategies or making a winning trading plan more complex—usually this only results in destroying the profitability of it. If you like the stock market, stick with trading stocks. If you like currencies, then trade FOREX. Focus on only one market and a couple of simple strategies when starting out.

The goal here is to avoid constant tinkering to improve performance, or continuously switching markets, strategies or analysis methods. Stick to the plan. If it occasionally needs to be reworked a bit that is fine, but keep the revisions simple and avoid getting overly complex.

The Bottom Line
When starting out, be a niche trader focused on a very few manageable goals. Results will come in time if you are trading according to a trading plan, not trading when there are no opportunities, and avoiding getting too complex. (For related reading, see: The Importance of Trading Psychology and Discipline.)

This is a magnificent post - it should be a sticky for all newbies. Needs to be read a few times over.

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  #97 (permalink)
Evans GA/USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
 
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kazz View Post
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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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.

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  #98 (permalink)
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
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kazz View Post
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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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)
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  #99 (permalink)
Evans GA/USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
 
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kazz View Post
With $500 margin can you trade any future contracts if you area holding positions for longer than a day?

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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.

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  #100 (permalink)
W.Coast, USA.
 
Experience: Intermediate
Platform: Anything
Trading: Emini
 
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kazz View Post
What is DLL please?

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Daily loss limit.

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