This is exactly why I recommended to OP using local quality ECN broker. With an ability to trade any multiples of 0.01 of a lot (0.05 in futures) his $5k bankroll virtually becomes $500k/$100k (currencies/other futures) compared to US based products.
Beginner question - please recommend a market
- Thread starter ajo123
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This is exactly why I recommended to OP using local quality ECN broker. With an ability to trade any multiples of 0.01 of a lot (0.05 in futures) his $5k bankroll virtually becomes $500k/$100k (currencies/other futures) compared to US based products.
forex is always the best. I loved it when I had an ecn. I would not trade it with a bucket shop. Make sure if you deposit anything you first know everything possible about ecns and bucket shops and even ecn's that are bucket shops. I tell you it isn't like choosing an online poker game where hopefully someone is keeping them honest. If they accept credit cards move on.
Fer crying out loud...Who gives a shit about notional when they day trade?
If one is trading a 2-lot position, then they have to worry about what the broker is putting them on the hook for. All the rest means nothing.
Notional notional notional OMG look my friends!!! I am wielding $4,000,000,000,000,000,000,000,000,000,000 in notional value! Look at me!!!
Who cares? You are wielding a futures contract. Stop trying to scare yourself.
When you wield a future you wield a fuckton of the underlying. But unless you actually carry it, who cares? Nobody! You are not important! Just trade the thingy! Get on with it!
becaue with a small acount you can trade less than 1 cme contract, like just 20k for the eur.
Yep.
Do you give a shit about correctly reading the post before you respond?
Where did I say anything about notional value?
Don't you think $5k is too little to learn markets using US based products? Before he learns anything he will be out of capital.
By using venues that allow him to trade any multiple of 0.01/0.05 size of 1 standard US based contract size, even with $5k he can take MANY bad trades before he makes a turn.
So let's say he wants to start with ES on CME. How many losses he will be able to take before he is not allowed to daytrade it any more due to insufficient funds? How many swing trades he can get if he decides to trade that way? NONE.
Now take same product, ES but trade it at the venue that allows you to place min 0.05 size. Now that $5k bankroll doesn't look like a losing proposition anymore. Granted he can't make a living but at least he stands a chance of learning the markets before he moves on.