High schooler wants to trade the YM
- Thread starter zdawg164
- Start date
I would do both paper and live trading now if you've been watching the market for a while. You probably have a decent idea about which of your setups have a higher winning probability. Initially wait for those. If you lose a few hundred dollars go back to paper for a little while.
It depends on the person, but there is usually a huge difference between trading paper and trading money.
So after you have a strategy and discipline with paper trading you need to start very small with real money.
Also, why YM? It seems like you have a very limited window to trade in. You said you've been successful with swing trading, why not do that while in school and then use the money you make for YM trading in the summer.
Or you could trade in school if you are sneaky
http://www.thinkorswim.com/tos/displayPage.tos?webpage=wirelessPlatform&displayFormat=hide
So after you have a strategy and discipline with paper trading you need to start very small with real money.
Also, why YM? It seems like you have a very limited window to trade in. You said you've been successful with swing trading, why not do that while in school and then use the money you make for YM trading in the summer.
Or you could trade in school if you are sneaky
http://www.thinkorswim.com/tos/displayPage.tos?webpage=wirelessPlatform&displayFormat=hide
Good luck trading in the summer. Typically volume drops off so much, most pros take the summer off. 2007 was a unique situation because the uptick rule was repealed and the mortgage mess happened at the same time causing volatility to jump considerably. I would not expect that this year. By the time summer comes around, most of the bad news should be cycled through. Price action will be dead.
You're going to be churned by commissions if you expect to start learning in the summer. That 2500 will probably be blown out in a month by a choppy, go-nowhere market.
You're going to be churned by commissions if you expect to start learning in the summer. That 2500 will probably be blown out in a month by a choppy, go-nowhere market.
I agree with rice rocket. You should work this summer, increase your account, say 5000. Wait for the pros to come back from vacation and trade from the end of summer into the fall. The markets should be in full swing by then and you won't get chopped up and feed the broker with commissions.
"You're going to be churned by commissions if you expect to start learning in the summer. That 2500 will probably be blown out in a month by a choppy, go-nowhere market."
Past performance is not an indicator of future results.
My advice would be to join in / listen to some trading rooms / chat groups on paltalk or even woodies. I learned patience by watching and talking to others. Most of all good luck to you.
Past performance is not an indicator of future results.
My advice would be to join in / listen to some trading rooms / chat groups on paltalk or even woodies. I learned patience by watching and talking to others. Most of all good luck to you.
