Hey guys im a college student and want to start trading the YM. I am going to start with about 3000$. Can you recommend a simulator where I can put in the amount of 3000$ and see how profits/losses involving margin will result. I have tried to do this on IB but no luck. Thanks!
i signed up an account with global futures a few months ago - probably the ideal option since i didn't have a large amount to trade from - they let you practice on one of their platforms as a demo account for a month or two for free. i like strategy runner, ninja trader, etc...you can choose whatever you like. good luck.
'samuelg', thank you for recommending us. 'aragoona', we can set you up with a live simulated account that you can use to trade the mini DOW contract. We do have several platforms to choose from so it might be best disuss the platforms on the phone and try to find the one best suited to you. You can try a few different platforms for that matter. To anyone who is new to trading futures, I just like to mention a couple of warnings right off the bat. Be aware that most futures traders lose money, and you should only use risk capital. I'd be happy to go over more of the risks and try to answer any other questions you have as well. Feel free to call me or email your questions to doug@globalfutures.com Best regards,
thanks guys for your replies. I been using IB simulator for a little and averaging 200-500$ a night just looking at the trends and buying and support/ selling at resistance. I do go to school and work full time so I only get to trade at night (eastern time)
You can also check some of the global futures like Australia SPI, Taiwan STW etc which trade actively during night time.
What kind of stop loss are you using? How many contracts are you trading on sim ? Once you are using real money, prepare to get trader's block. That 200 -500 will turn to losses in a real account because the fear will jack with you pulling the trigger. I highly suggest you do not trade more than 1 contract at a time until you have grown the account some. If you aren't profitable with only 1, more size will only blow you account up sooner. I suggest you read this book before even thinking about going live. http://www.traderslibrary.com/moreinfo.asp?item=2121&SID=&lc=gurus_homepage There is also some good info here for starting out. http://www.cbot.com/cbot/pub/cont_detail/0,3206,1180+17719,00.html This will help not fight the trend http://www.cbot.com/cbot/pub/cont_detail/0,3206,1560+17731,00.html good luck
thanks so much for your replies. I only trade 1 contract at a time and honestly i been using market orders to sell.