20 K is a lot of money And i have been trading part time and yes i have knowledge about futures leverage discpiline risk management But i know full time it will a very stressfull job $750 a week is not hard since your know in futures u can make big or loose big I like to take only shorts and when i open a position i go 1 long and 1 short in the futures9.30 based on my system i have a plan depending on my research ) and my week,s target should be $750 ( which i know can also be done in a day ) but dues to losses and profit i like to keep a decent target Rest i know discipiline is very important.
he`s better off with 20k to start..........less is more in this situation as the tuition cost will be relatively less painfull.
I am assuming that you have a profitable method and know a lot about risk and money management . If yes, then 1/ Stay away from ES for couple of months.Trade just NQ,YM ER. 2/Do a lot of simulated trading and be very profitable before you will trade for real. 3/Start with 10K .
Trade ER before ES?? Are you crazy? Obviously you haven't traded ER because it is the fastest, thinnest and most volatile futures contract there is. The ES is a gentle giant compared to the ER.
I thought the ER is very volatle NQ YM AND ES look,s Good to me YEa i think 10K should be enought as i dont want to get over aggressive ( you know when u have a lot of money or buying power u get overy aggressive ) Just have to pratice on the discipline still have 4 month to go so getting ready now
Start with 1 contract is teh best adive I can give. believe losing with more size depletes you capital faster than dipping into trading account for life. Set dollar figures like that are real hard. Limits you in good months, makes you over trade in bad months. Trade small and within yourself an decide in 3-6 months wether to contiue, increase size, or give up.
I have just begun reading,researching and learning trading in all forms. Could you guys breakdown for me what the NQ,YM,ER, ES is? Thanks a ton and keep up the great work around here...been a wealth of knowledge in a very short time!
NQ is NASDAQ futures ym is DOW futs ES is S&P futs ER... i dont know what that one is. I read that YM has larger spreads than ES and therefor makes it better for a beginner in futures.
My advice was to papertrade NQ,YM and ER first and when profitable then move to ES . I should have write it more clearly .
Well, here is an advice based on what you said so far: If your system works when long too, take those damn signals, for the obvious reason. Or they have a bigger failure rate? If not, there is no reason to prefer one side or the other, we are into this for the profit, not for picking favorite sides. I also prefer the short side, but I take whatever the market gives...