Beginner here, need some advice

[Busta21]

Very small account, definitely not good for trading any futures. I would focus on systems trading stocks, at least 100 of them.
And you should work and risk in the way, that you will never loose you initial capital.
My largest drawdown ever was 11% and it includes my starting account. Just do not overleverage and focus on consistency.
If you can consistently make 15 - 35% per year, then you will be gzillionare very soon

You don't have a clue what you are talking about. $5,000 is more than enough to scalp the futures markets. - Stop giving advice on this forum, its detrimental to people.

 

[tom_czr]

You don't have a clue what you are talking about. $5,000 is more than enough to scalp the futures markets. - Stop giving advice on this forum, its detrimental to people.

Hehe, seems like you are another gambler, not serious trader focusing on large capital. Anyway I can be wrong, who knows
I am just saying what is best for long term success and surplus of money from my experience.

 

[Busta21]

Hehe, seems like you are another gambler, not serious trader focusing on large capital. Anyway I can be wrong, who knows
I am just saying what is best for long term success and surplus of money from my experience.

Small accounts like that need to trade the proper instruments to grow wealth, that is unless he is trying to build a portfolio over time, which in my opinion, is a waste of ones time in todays era. Options and futures provide him with leverage and he can grow it quickly. Did not mean to be rude I just see posts like this and it reminds me of people who told me similar and it took me a while to get around that idea.

 

[Money Trust]

You don't have a clue what you are talking about. $5,000 is more than enough to scalp the futures markets. - Stop giving advice on this forum, its detrimental to people.

That's actually what I was thinking. With $5,000 you can comfortably trade most futures markets. In my own case, I started with $2,000 and would swing trade the cheaper futures contracts like sugar and cocoa until I built my capital.

 

[Busta21]

A potentially successful trader stats with smallest capital possible.

in stocks a round lot is good

in commodities a contract is good

william J O'Niell is your best contemporary example. See around page 172 of his book entitled: "24 Ways.......". he spent 27 months and then took all capital to use to set up the IBD empire. the intial capital was 500 dollars.

since I am older and more experienced than WJO'N, I started with less (300 bucks)

I have connected with over 10,000 students. They all started with the least plus the knowldege and acquired skills to trade.

You will not succeed as it turns out. Google "EMG".

There re two reasons people have to trade. You have the wrong one.

Hey, Jack, ya have any inspirational trader quotes you can hit us with!?!