one contract for sure. if you don't have charting then i would use interactive brokers and either get sierra chart or use quote tracker which costs nothing.andd then just watch the charts for days and study how the market trade
One contract, and when you make 1k go up to 2, and so on. Much better to start small. Placing trailing stops is a good idea too.
I appreciate and agree with all your input. I know I should do the basic work myself, but with so many experts on Et, I thought it's simple enough to throw a question. Yes, one contract is it; that's what I was thinking.
View- First things first. If you have any "Confirmation before trade"- box checked on your platform, then uncheck it. Then do some simple math and figure the max contracts you can buy/sell. This will be your amt. of contracts you buy or sell regardless of account status. 1 contract everyone says...that stinks, makes you feel small and unimportant. The idea here which all these so called traders don't want you to know is that you are going to move the market with your positions. But again, you've got to MAX the account. Hey, no pain no gain..Bro. Don't sweat the small shit. If the position goes against you immediately, STAY IN THE TRADE! This is only the lemmings and unexperienced trading against you. In fact, laugh out loud when this happens. I do. Cuz, their gonna get whats coming to them. Hold tight and stand your ground if it really starts going against you. This is just the market testing your worthiness. Don't let it down. Trust me on this one. In fact the only time you should even THINK of changing your mind is if the phone starts ringing and Caller ID shows its your Broker! Second piece of advice: Don't answer it. They are nonbelievers and they are only going to try and talk you out of the position or threaten to liquidate your account. Not true, they can't, so I wouldn't even bother with 'em. Fuck 'em. In fact, you call THEM back and throw out a death threat or something of that sort...you watch 'em shut the fuck up then. Remember this, they are most likely jealous of the huge Balls you obviously have and your level of pain tolerance. Any real trader knows this is key to ever make big profits. So, stick to your guns. If you start feeling ill or are even tempted to change your mind then I'd suggest you just throw your mouse out the window just as a first line of defense. If you start losing your faith and sensing overwhelming regret in your convictions, then there is only one solution that works everytime. You know what it is. Yes. You close the application on your system, then turn the power switch off. Take a break for the day. Come back later when you are more fresh and in a reasonable state of mind. Next morning, if you have to. I sleep better Overnight, knowing that I didn't do something "Stupid" intraday, like get wiggled out of a position, that I was convinced was going to make money. Anyway, thats all for now. Basically, I've been LONG since market open. So, I know what I'm talking about. In fact when you get a little more experience you can do as I do and start "averaging down." This is a complex concept for many so I won't go into now. But basically, I own a lot of the QQQs at pretty much the average low of the day. So, there you have it. The Holy Grail of trading in a nut shell. any questions or maybe moral support for any trades that you've taken using my advice, feel free to PM me. best- momo