I just read that tradestation requires a minimum daily balance of $5000. Is this true? Not that $5k is a lot of money, but it seems like several people are using them just for the platform and in that case it would be annoying to have to keep that money in there idle. Anyone know a method of getting around this?
lightspeed is cheaper than ib, I was thinking of switching over but went with infinity futures instead. Platforms good but can't see you acc. balance. Doesn't matter to me I only care about the price per contract. Btw they negotiate.
what do you think is the lowest amount to open account to trade futures ? Is it possible to open with like 500$ per account and then diversify the money in a lot of account in case of feed drop ?
These are straight up amateur questions; sorry, no offence. If you're serious about futures you may want to open an account DIRECTLY with the clearing FCM. Use PATS J-Trader or X-Trader from TT.
...and some brokers are as low as $2000! You'll think "Oh I can make it with $2000," but you can't. I started with $3000 last year when I was 18 and I haven't lost as much as many here have (still above $2k), but I'm waiting until I can properly fund my account with at least $5000 to start trading again.
Why would you trade with $500 or even $2000? So if you make 300% is it going to change your life? No. Unless you can commit the time and money it takes to be a successful trader, or at least give yourself a chance, you are better off not trading (Unless you are trying to fulfill a gambling addiction).
1st I want to thank you for your reply. However I think that your are riding a steeper mountain that I do... Let me explain that, what ever happen between your order and your broker isn't his problem. Your feed drop don't care, your computer crash don't care, you die... don't care. He will only liquidate you at your margin req ( may it on a 10B$ account or 500$) but, as maybe you are able to see a 500$ loss isn t the same as a 2500$ Secondly if you aren't to stupid you could realise that starting with 1 lot ( ie 500$ ) and then continuing with the profit of the day ( héhé, not everyone can do it ) you can add contract ( every 500$ ) until you reach your optimal position... but what ever happen the most you lose is 500$--- and that is the key to win = not to lose !