How appropriate to buy futures as your first trade with 1 mil account On a lighter note, why not? We have $500 account journal here too. I say, let it be...
jojo.ojo These positions both have a very high probability of failure. Please pay heed to Blotto's advice and close both your positions immediately. I am not familiar with the Ags so will not comment on the corn position but you have placed your ZO stop at a likely short term reversal point. I do not trade this market on your timescale but I can tell you that the pros will be gunning for the liquidity available down to the 3.08 area. Depending on the market conditions when it hits 3.08 there is a good chance of it pushing down to 3.06 either this afternoon or tomorrow morning. Can I respectfully suggest that you take up Blotto on his kind offer. The man knows a thing or two, and whilst he is not going to give you all the answers he is likely to get you asking the important questions.
Everybody wants to "double your money".. here's the fastest and safest way... fold it in half and stick it in your pocket.
3.08 hit. There goes your stop. As predicted the pros took the liquidity you were offering. Nice short term bounce to 3.10 as well. Market has some legs today. Still expecting 3.06 either late this afternoon or early in tomorrow's session. Do you really want to wait for your corn stop to go or accept the help of those who understand more than you?
How do you make a small fortune trading the futures markets?. Start with a large fortune,,,hahah.. JUst kidding, good luck and may the force be with you. EF