Hi there, I tried a search but couldn't get a useful result. What is the minimum account size if one wants get started with commodity (mini-) futures trading? 10,000$, 20,000$? Which contracts would you suggest?
whats your background in speculation ( ?) are you looking to actively trade the stock index futures or other volatile markets , knowing you could easily "blow-up" do to the leverage ? you are lucky though ... yrs ago there was no such thing as a mini future or mini forex acct
I'm not a newbie. I'm giving advice to newbies, but don't have a good overview over all the mini-future contracts. My advice would usually be not to start with commodities, but stocks or forex. I've got somebody who wants to start out with commodities and I don't know what to say. For the emiNY Light Sweet Crude Oil I calculated a minimum account size of 15,000$.
If you have discretionary cash and time to watch the market daily and you are referring to daytrading, then one random piece of advice I have is to start with $10,000 and no more than 5 contracts lots. With that account size and lot restriction it would take you quite some time to blow it all if you were not good or reckless. However you would need some sort of risk management since you still could blow it all in a week even with 5 lots and lots of flipping. I am referring to ES although you may have other e-minis in mind.
u only need 2000 to trade the sweet crude mini. Highly reccomend over the normal contract. make sure to have stops, i would also be sure to not just go long and to sometimes short.