Yeah, sure.
I suppose casinos should have a similar law to "protect" their customers !
"Sorry Sir, you need to have 25K to play in this casino, we cannot let you play with less than that. We are doing this to protect you"
2 k futures account - $500 a week possible?
- Thread starter sam hogar
- Start date
Yeah, sure.
I suppose casinos should have a similar law to "protect" their customers !
"Sorry Sir, you need to have 25K to play in this casino, we cannot let you play with less than that. We are doing this to protect you"
Most traders agree the stock market is what is often coined 'legalized gambling'. That said, the investment industry actually does try to portray themselves as something more than that. And in many ways it is. Stocks are equity in productive corporations, some even provide yield in dividends. Stocks are more useful than where a ball may land on a roulette table or what your cards add up to on a black jack table.Yeah, sure.
I suppose casinos owners should have a similar law to "protect" their customers from losing "too much" money
So yes, the investment industry wants to have things in place to protect people from themselves. Outright casinos don't because they are a genuine gambling establishment.
Please wake up Butterfacetrader, the 25K rule not only protects the market makers, but now the customers/traders can lose even more money to those Wall Street sharks.
If you enter a casino with 200 bucks (starting capital) all you can lose is your 200 bucks. If you enter a casino with 25 grand (starting capital) or more, now you can lose 25 grand or more, simple as that.
So tell us how is this 25k rule is "protecting" the customer/trader?
Scaleout.Scalper
Guest
Those returns not realistic, and without experience, pretty much impossible.
there's a mental freeze from the possibility of losing that delays or causes one to not take a trade that is not present in sim,because you can't lose, building a resolve to shrink that hurdle down to an ant hill comes from several days weeks months years of trading, and that's after several ..... in front of a screen watching the market repeat processes, that's trading, your projected return question is akin to a 6 yr old wanting every toy on the commercials between cartoons...not aimed personally at you Sam, just the elephant in the room that all new traders mid traders old traders have to deal with
PS blowing off wrb's comments , a long time and trying to help trader, raises a red flag on your maturity which is another important tool, this market whips everyone around like the worst storm on deadliest catch, takes fortunes and lives daily, don't take trading lightly
Absolutely.
In fact if a trader could make "just" 2% a month consistently, he would amass a fortune over time just by slowly re-investing/pyramiding his profits.
2% per month does not seem much but in reality it is a more than respectable 27% a year ROI!
Remember this guys, most hedge funds, with all their money, their army of financial "analysts" and "experts", their powerful computers and their oh-so-complex trading systems cannot even beat the S&P500 (the S&P 500 has posted an average yearly return of 7.22% going back to 1928, by the way).
Are you on meds?Please wake up Butterfacetrader, the 25K rule not only protects the market makers, but now the customers/traders can lose even more money to those Wall Street sharks.
If you enter a casino with 200 bucks (starting capital) all you can lose is your 200 bucks. If you enter a casino with 25 grand (starting capital) or more, now you can lose 25 grand or more, simple as that.
So tell us how is this 25k rule is "protecting" the customer/trader?
I've explained to you that the pattern day trader rule works with the same underlying logic as the accredited investor requirement for investing in hedge funds. I.e. ensuring the investor has adequate capital and that any loss is 'insignificant' so as not to affect their well being.
I guess now you're tying that discussion into futures. The SEC and the CFTC are two different establishments. In fact, the CFTC is quite new and governs the derivatives markets. So really, its apples and oranges. The fact you don't understand this means you need to take a break from your FX charts for a second have have a better history lesson.
No my naive friend, those "rules" have been implemented to insure that Wall Street makes more money when you lose.
On day you will understand that.
Unless you are one of them and just want to play dumb so you can feed BS to the traders...
"If you feed bullshit to the public often enough they start to believe it"
Don't take it personally.
You're just not ready for futures trading. If you were ready, you wouldn't have started this thread and you wouldn't be asking about if its possible to make $500 per week trading Light Crude Oil CL futures or S&P 500 futures via a 5k (2k) futures account. CL/ES is the toughest game in town for an inexperience futures trader.
By the way, if it ain't broke...don't fix it. Therefore, you asked for opinions about if you should just stay with stocks. The answer is a YES because you're still a newbie futures trader and you're just not ready to take on CL futures or ES futures because if you had a tested trading plan on CL/ES...you wouldn't be asking these questions. Thus, keep saving your money (note: get a 2nd job to speed things up a bit) so that you can be properly capitalized to trade stocks that you already know you're successful with.
Lastly, your reply after asking for opinions makes you sound like a troll that's trolling for attention.
P.S. If you're looking for opinions that say YES. that you're ready to take on CL and ES, please make sure you say such in your opening statement or don't post your questions at a public forum.
Ya think?