First time futures trader, assistance needed

R

Relleum

Right now the DOW is approaching 12800, i want to go long at this level with a stop below 12730. How can i enter this order in interactive brokers tws?
 
Quote from Relleum:

Right now the DOW is approaching 12800, i want to go long at this level with a stop below 12730. How can i enter this order in interactive brokers tws?
More...


Login to WebTrader and buy YM, Futures, MAR08, ECBOT, USD, YM MAR 08. The Market tab will have this contract listed as one of the defaults.

WebTrader is easier to use than TWS.
 
Quote from Relleum:

opportunity is running out. what symbol do i enter, and how many contracts should i purchase to risk $1500?
More...

YM
Each contract = $5.00 per tick
 
dammit, wasted time with webtrader, for some reason kept getting that stupid invalid login.

Finally entered ym march 08 into tws, and just missed 12849.

Oh well, at least i was spot on about the opportunity.

--Relleum
 
No offense dude, but you don't know how to use your platform, you don't know which contract to trade, you don't know about your instruments margin and you don't know how to calculate your risk. For maximum delusional effect, you post you were spot on!

tick-tock, tick-tock!

Osorico
 
Quote from osorico:

No offense dude, but you don't know how to use your platform, you don't know which contract to trade, you don't know about your instruments margin and you don't know how to calculate your risk. For maximum delusional effect, you post you were spot on!

tick-tock, tick-tock!

Osorico
More...

Unfortunately for the OP, he will not understand what you are saying here OS until one day he is not quite 'spot on'.
 
at least he has the good sense to buy weakness and use a wide stop...or any kind of stop. make sure to learn as much about the platform and instrument as you can BEFORE the next percieved opportunity. make sure you put in an electronic stoploss! good luck to you friend, you may need it.
 
I have been using tws for a long time to trade options, stocks, and forex. Even though I've never traded futures before, I liked the setup on the DOW and wanted to trade it.

I just didn't know the symbol to trade, and the ones i tried were incorrect.

Even though I made some good money on my first trades, I didn't know that trading ended at 5pm est, so I still have a single contract open (long), although it wasn't my intention.

--Relleum
 
You must log in or register to reply here.
Back
Top