Im pretty sure you do need 25K to trade ETF's, I dont see why they wouldnt fall under PDT. I do have more than 25K in my other trading acount so that point is moot. As for why I dont just stick to stocks, I want to try something new and a little different. I did make money from trading stocks also its not like I'm running away from one losing field to another. Jamaal
I think that allowing for only $1,000 in total losses, especially for a market you never traded, is rather optimistic and restrictive. If you strictly adhere to that criteria and actually make it, then you can be assured that they will write folk songs about you.
I may change that as I learn the error of my ways but if right off the bat I lose $1000 I'm gonna take that as a pretty strong signal that Im a dumbass. Jamaal
We don't know you as a trader nor do we know your methodology and you want us to tell you if you will be profitable or not??? You may be better off reading a fortune cookie or going to a tarot card reading or similar like insights. I recommend you start a journal here at ET... Post your end of day results with annotated charts of why you took the trade along with some info about your method... Then ask your question again and you'll get serious replies along with helpful tips from us futures traders. Mark (a.k.a. NihabaAshi) Japanese Candlestick term
A lot of us get those strong signals from time to time. Just make sure that you have a good, well thought out and properly tested trading plan, and trade very small at the outset. Good luck.
I really wasn't asking if I will be consistently profitable or if I have a sound methodology I just wanted to see if people thought I would get to 6000 or 4000 first. Who knows where or what I'll do after that. Maybe I'll get to 10000 and then lose it all, or maybe ill get to 3000 and call it a day. Nothing about the long term or if I'll become a titan of the futures market. Just a simple which do you think will come first based on your view of the world and some basic information about me. I do though appreciate all the tips given thus far. Jamaal
HI Jamaal, Thanks for the clarification. Hopefully I didn't sound harsh and I apologize if it sounded that way to you. Lets see...I'm sure you are aware of the fact that most don't make it at futures trading and the exact number is really unimportant. Therefore, my bet is that you'll reach 4k first and hopefully you prove me wrong or bounce back an go back upwards in your equity curve. Mark (a.k.a. NihabaAshi) Japanese Candlestick term
Fair enough. But in that context, the question is fairly meaningless and the outcome (either $4,000 or $6,000) is likely to be determined quite randomly based on the limited information you have presented. Personally, that is not the kind of speculation I care to engage in. (For what it's worth, however, I harbor a trace of pessimism as a matter of course.) Perhaps other respondents will be more accommodating with their guesses. Anyway, good luck.
No offense taken. As the thread progressing it started taking a more serious tone than I had originally expected. Although if I do make it to $6000 the next question would inevitably be will I make it to 7 before i go back to 5. Jamaal