stupidtrader journey to riches

Discussion in 'Journals' started by stupidtrader, Sep 29, 2024.

  1. Is swing trading easier and more money, compared to daytrading?
     
    #11     Sep 29, 2024
  2. Coin Flip

    Coin Flip

    I don't dare say one is easier than the other.

    It's like chalk and cheese.

    Just know that swing trading futures will require a lot more capital, since the margin requirements are 20x higher to hold overnight.
     
    #12     Sep 29, 2024
  3. how much position i can hold overnight with 5000$ deposit?
     
    #13     Sep 29, 2024
  4. Sekiyo

    Sekiyo

    If you trade the micros then you might be able hold 2 or 3 contracts overnight.

    Checkout MES, MNQ, MGC and MCL specifications.
     
    #14     Sep 29, 2024
    legionx likes this.
  5. Coin Flip

    Coin Flip

    Put it this way, Amp Futures requires $2,200 in margin to hold overnight for one micro Nasdaq contract.

    One micro contract is basically gambling on Nasdaq at $2 per point (so if Nasdaq moves 100 points in your favor, you make $200).

    Obviously you will need more than $2,200 in your account since you need cushion in case the position goes against you.
     
    #15     Sep 29, 2024
    Sekiyo likes this.
  6. Ok thank you, i’ll start with 1 micro and see how long i can last keeping it overnight
     
    #16     Sep 29, 2024
    Sekiyo likes this.
  7. Sekiyo

    Sekiyo

    Great idea.

    Leverage is a double edged sword. You can lose 5000$ in less than a day. Better start small :D

    At AMP you can trade about 12ES contract with 5,000$ which is 12x50$ (600$) the point. That’s an 8pts move to wipe you out. With the average daily range being 50pts … It happens quick.

    To begin with 1 or 2 micros and being able to hold overnight is a very good idea.
     
    #17     Sep 29, 2024
  8. In this case 5000$ deposit trading 1 micro should last me quite some time
     
    #18     Sep 29, 2024
    Sekiyo likes this.
  9. I just want to wet my feet to see if i can 100% in one year
     
    #19     Sep 29, 2024
    Sekiyo likes this.
  10. Sekiyo

    Sekiyo

    100% in a year is doable in theory.

    In practice you need to stay in the game long enough to figure out how to make it.

    I’ve heard one guy being profitable from day 1 but usually it takes a little bit longer xD
     
    #20     Sep 29, 2024