LOL. You guys are really ridiculous. So telling someone with little money not to over leverage themselves by trading futures on a small account, and that they cannot time markets to perfection (every trader who has traded the market knows you can't do that consistently), is somehow: (1) angry failed trader (2) don't know how to trade (3) etc etc. I hope you realize how pathetic you are. I stand by my statement. I really don't think someone with $6K should be trading futures. I also don't think people can successfully time markets to precision consistently. Certainly not the 'noob trader' who is just starting out with $6k in which you guys are egging him on to go and leverage himself with futures with his $6k account. LOL. This is really ridiculous. Reminds me of those news articles describing these sociopaths who goto online chatrooms and tells people to hurt themselves. What if the guy loses all his money because he follows your advice and starts an account and leverages to the hilt? Are you going to be liable for loss because you told him its ok to trade futures with his $6k? Painting a picture about big profits big dreams, how to sign up accounts, pay commissions, but not how to trade? Sociopaths.
You are right about this: You are right about what you think because you after all think it. As for the validity of this comment, I wouldn't even bother any more.
Nobody is telling anyone to go an open a 6k account and start trading eminis WITHOUT A TESTED PLAN because that is not only overleveraging but complete stupidity. Now, if after having tested a plan and knowing what the max drawdown is, assuming the trader is a good scratcher and can also let his profits run, he doesnt even need 6k to start, he can do it with 2k or less. People need to understand that in order to make money is not necesary to lose it, but he hard part is coming out with a plan that allows the trader not to lose too much, that will take him from 6 months to a couple of years, but is up to him.
Exactly +3, the problem is that some people don't have the ability to understand simple English. As far as I know no one here is suggesting that someone who does not know how to trade go risk real money. Also, as noted in my previous posts there are many charting applications that will allow one to demo trade and not risk any real money to try to learn to trade and help develop a plan. I also think shorter term trading helps one learn faster than someone who holds a position weeks or months. You can see right away what you did right or wrong. Sometimes right after I entered a trade I know I made a mistake and as Niko says you don't even need to let the market go against you for even 1 point. You can scratch the trade and take a loss just on commissions.
Hello, I have been simulating ES trading on Ninjatrade. The default account cames with 100K but I updated to 2K and I have been making money in simulation (6 months training every days - had to use several accounts because the simulation account is very short - some lose more days win). My winning average is 80-100$ per day my biggest loss 300$. I do very short (in time) trades my stoploss is 50$ - 4 ticks. Like I said I am using Ninja trade just in simulation ... I dont see why 6k is not enough .. I am missing something ? Of course I never leave a position open if I leave the PC ...
only one contract at the time what do you mean with "Your stop-loss notwithstanding"? I use ATM when the order is filled the stop is instantaneous placed (the "stop profit" is decided by me ) I use the superDom view ... you can see the possible PL (per tick movement) there I send image in attach I am simulating with the worst commissions (commissions are not displayed on the superdom)
I see the charts, yes. Commish is irrelevant. I am not up on how NT8 is working out with what its sim-engine is doing. Look at it this way. Imagine if you wanted to open up a brick-and-mortar business, like a retail florist shop. You have your shop paid for, but now you need staff, money for the lease of the land, utilities, property taxes etc. This is all going to cost monthly fees, usually. Could it be done on a budget of $6K? Not unless the business made a lot more than that after the first month.
Apologies that I cannot be more descriptive and detailed here, it's been a long week. To be quite honest with you, $6K is "sufficient" to trade a single ES contract. But a few bad losers and you're out of the game.