Well i do not share the same view. I have yet to see a "strategy" that is programmable to attack any market. Programming is all hype. The best minds of our time have tried to quantify the market. It can not be quantified, a trader has to have that traders sense. Just because i am in college and young does not automatically mean i am a bad trader. Just because some people are 25 or older does not make them good traders, i have 6 years of investment experience under my belt. 2500 is not ideal to start trading mini dow but this is my risk capital and if i lose it then i'm not the trader i thought i was, so far my original stake is not lost. I've been trading full time long enough to not trade stupid and if you trade smart wait for your signals you should profit at least 5/10 times.
going with rml min is 2k intraday margin req for mini dow is $0 http://www.rmltrading.com/commissions/margin/requirements/
naz, I am not saying you are not a good trader... Let's say you are the best trader in the world. So what? Now is the time for you to get your education so that there can be more intellectual possibilities in your life than just a bid and an ask. You have every responsibility to study and learn from your college experience and not some computer screen spitting out numbers. You owe it to yourself. How do you know you can't quantify the market just because other people said they can't? Have you tried it? You might be right that you can trade a strategy better as a discretionary trader. Maybe you can trade two strategies two markets at the same time... three strategies five markets... Ten strategies twenty markets? I will tell you that you can probably translate 90% of what you think is discretionary into the computer if you are a "GOOD" computer programmer. The other 5% is probably too tedious and the remaining 5% is intuition (can't explain). If you are not very good, you might not even know where to start. Good luck
I see your points, and they are valid. I did take a c++ class, actually just finishing up, i hate it to pieces. Computer modeling and backtesting of a strategy is a powerful tool but i prefer to roll with the price action rather than have strict rules. School wise yes i'm getting my college degree. My goal is to have an official 2year track record of profit before i graduate. College degree plus 2 years of profitable trading the possiblities would be endless. This summer is going to be my official start of my track record.
to open is 2k, you do not have to keep a 2k balance once your account is open. All you would need in the account is 500 enough margin for 1 contract
Naz, Hope you are right. $2000 min at my firm means if the account falls below $2000, they cut you off from trading until more money is put back in. Tbill
Oh man this thread deteriorated quick. Just to clarify, you asked if 2500 was enough to start...the consenus seems to be that its overly risky....and now its 'wall street or bust' (note, YM trades on chicago board of trade)....and you are going to base trades off just the DOM...no charts? With a free front end. Naz, this really isn't a good idea. If you are making some cash with FX, why switch now? I will give you my honest opinion. If you belive you are going to be profitable....why not try a demo account w/ YM for perhaps two months, if your intent on going for it?
Spot forex is mentally dragging on me that is why i am making the change. 24 hour market and i'm on constant alert with the style i trade. Also, i focus on price levels and i really dont need a chart to tell me what is going on. I have a demo refco account which i've beed trading for a few months now just to get the feel for the platform.