High schooler wants to trade the YM

zdawg,

Your post indicates you are intelligent and ahead of the game for your age.

Now, drop the `I am a highschooler, I need special help` BS.

Take responsibility for being a man, unlike 99% of your peers, and travel the way of an adult. If it`s trading, then navigate the waters of ET or whatever with no apologies.

You will be even further ahead of the game.
 
Quote from zdawg164:

Hi guys, usually I just lurk here and look at other people's posts, but I want to really get some opinions here.

As the title explains, I'm 17, currently in high school. In my freshman year I took a serious interest in the markets from my business class, and it got to the point where I started to paper trade stocks (this was 1.5 years ago). I got consistently profitable in swing trading (on paper), but then 6 months ago I discovered the magical thing that is the YM. I started paper trading the YM then, and ever since I've developed a strategy that has been pretty profitable (again, on paper). I only have time to trade from 2:30-4, but it's still a good window of time.

I am posting this because I am seriously considering starting to trade YM in the summer with my $2.5K I earned from work.

Yes, you might be thinking "Who the hell is this kid trying to handle the BIG mr market" but I do have a strategy, and YES I realize fully that CONTROLLING LOSSES is the most important thing a trader can do (I have a tight 10 pt stop loss)

Am I going over my head here? I believe my strategy can work, but I also realize it will be psychologically hard to start with real $.

Any advice/comments would be REALLY helpful from you guys
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You're 17 and you wanna trade during summertime??
Boy, don't you have some girls to chase? That's what summer's for when you're young...
 
Quote from zdawg164:

Trust me, girls won't be a problem since I'll only be trading MAX 4 hours a day :D (either morning or afternoon session, or both)
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zdawg164

I'm also 17 and have been trading futures since 16. Its not a bad biz and its definantly possible to make good money at your age (I myself started with 3k when I first started about 2 years ago). I would recommend to start trading the european hours first (as you should be in school during the day). European hours tend to be a little more forgiving when you are trading american markets and you will learn a lot.

Good Luck man and feel free to pm me with any questions. There aren't too many 17 year olds on these boards so we have to stick together lol!

YT
 
Quote from zdawg164:

Hi guys, usually I just lurk here and look at other people's posts, but I want to really get some opinions here.

As the title explains, I'm 17, currently in high school. In my freshman year I took a serious interest in the markets from my business class, and it got to the point where I started to paper trade stocks (this was 1.5 years ago). I got consistently profitable in swing trading (on paper), but then 6 months ago I discovered the magical thing that is the YM. I started paper trading the YM then, and ever since I've developed a strategy that has been pretty profitable (again, on paper). I only have time to trade from 2:30-4, but it's still a good window of time.

I am posting this because I am seriously considering starting to trade YM in the summer with my $2.5K I earned from work.

Yes, you might be thinking "Who the hell is this kid trying to handle the BIG mr market" but I do have a strategy, and YES I realize fully that CONTROLLING LOSSES is the most important thing a trader can do (I have a tight 10 pt stop loss)

Am I going over my head here? I believe my strategy can work, but I also realize it will be psychologically hard to start with real $.

Any advice/comments would be REALLY helpful from you guys
More...
Margin for YM is $3500, I'd save a bit more money and start with at least 5k. But other than that, go for it.
 
Quote from pcdunham:

Margin for YM is $3500, I'd save a bit more money and start with at least 5k. But other than that, go for it.
More...




huh?

that's for you old men who hold the YM overnight. daytrade YM margins are 300-500.00 USD.


HLJ
 
If your trading strategy can be used on things BESIDES YM, I would advise trading something else.

Starting with an Index like ES, YM, etc. is not the most lucrative way to trade. They are chopped to ribbons by legions of traders and automated trading systems.

You can start with something like soybeans (or smaller like corn). Pick something that has good up and down movement (not sideways), and with a small margin that fits your $2500 budget.
 
Quote from highlifejoker:

huh?

that's for you old men who hold the YM overnight. daytrade YM margins are 300-500.00 USD.


HLJ
More...
In time, you will grow wise and hold positions overnight and maybe even multiple days or weeks. j/k Day trading isn't for me, but hats off to anyone that does daytrade and can be consistently profitable. I did not know daytrade margins were that low. I'm in my early 20's too
 
Ok I've read some of the posts and I realized that YM might not be the best to trade. For those of you who have, how does it compare to the NQ in terms of liquidity, short term trends, and etc.... ?
 
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