Hi guys, usually I just lurk here and look at other people's posts, but I want to really get some opinions here. As the title explains, I'm 17, currently in high school. In my freshman year I took a serious interest in the markets from my business class, and it got to the point where I started to paper trade stocks (this was 1.5 years ago). I got consistently profitable in swing trading (on paper), but then 6 months ago I discovered the magical thing that is the YM. I started paper trading the YM then, and ever since I've developed a strategy that has been pretty profitable (again, on paper). I only have time to trade from 2:30-4, but it's still a good window of time. I am posting this because I am seriously considering starting to trade YM in the summer with my $2.5K I earned from work. Yes, you might be thinking "Who the hell is this kid trying to handle the BIG mr market" but I do have a strategy, and YES I realize fully that CONTROLLING LOSSES is the most important thing a trader can do (I have a tight 10 pt stop loss) Am I going over my head here? I believe my strategy can work, but I also realize it will be psychologically hard to start with real $. Any advice/comments would be REALLY helpful from you guys
Start with a Paper Trading account 1. Turn $2,000 into $8,000 ... then 2. Turn $2,000 into $8,000 again ... then 3. Turn $2,000 into $8,000 one last time. At that point you will have enough experience to trade with real money, you will have proven that you have a successful strategy and you will legally be able to open your own brokerage account. Win/Win/Win
i think its better to trade 1 contract and try not to blow your account out, but what the !@#$ do i know
Let's put the vinegar in a glass jar for a moment... a 17 year old will not be able to open an individual account in the USA. Sorry, Osorico
Oh yeah, one more thing, I am only gonna start with 1 contract. Maybe later I would move on to bigger fish
lol, can't he just ask one of his parents to open an account trade that account... if you have nice parents
Don't worry about me opening an account. My dad will open one under his name, but I will be doing all the trading
just curious what software/program did u use to papertrade the ym or did you just look up quotes and do it on actual paper?
I am using the Ninjatrader simulator with the Zen Fire feed. And yeah, I've actually entered trades through it in real time