Hello fellow traders. I have decided to make the transition from trading equities to index futures. Can someone recommend which reputable brokers will allow me to start trading with a $5k account? Thanks in advance. traderjoe
You know you barely clear the initial margin for eminis with that amt, no? You have no business trading futures.
Hey poster boy I didn't ask for your opinion on what you "think" I should be trading. That's the issue with people like you on these forums...you take up space and grow imaginary kahunas b/c you're on the web. You apparently have been staring at the screen to long if you think you are fit to tell me what I have a business trading...either that or you have missed the bus. I found the broker I needed anyway as$ wipe :eek:
You are absolutely right; I have been starring at the screen far too long at a time. Hence, I need some diversion and see what new foolishness is cropping up on the board. I didn't doubt for one second that you'd find some scumbag to take your money and blow you out on the first run. Just hoping maybe some harsh words might dissuade you from doing something so completely idiotic as trading futures on 5k. But I guess not.
I agree with the OP, put the bare minimum you need to trade in your account and keep the backup 100k risk money in an interest bearing account. Why load your account with 100k when you only need $500 to trade your contract.
We all had to start somewhere, right? Not everyone has the luxury of starting out with 50 or 100k. Pick a broker with $500 intra-day margins. Global Futures comes to mind, also Infinity, and many others.
http://www.openecry.com I believe you can open an account for $5k @ OEC. Live accounts get free data/platform.