how to start futures trading (emini)

[butterfacetrader]

LOL. You guys are really ridiculous.

So telling someone with little money not to over leverage themselves by trading futures on a small account, and that they cannot time markets to perfection (every trader who has traded the market knows you can't do that consistently), is somehow:

(1) angry failed trader
(2) don't know how to trade
(3) etc etc.

I hope you realize how pathetic you are. I stand by my statement. I really don't think someone with $6K should be trading futures. I also don't think people can successfully time markets to precision consistently. Certainly not the 'noob trader' who is just starting out with $6k in which you guys are egging him on to go and leverage himself with futures with his $6k account. LOL. This is really ridiculous. Reminds me of those news articles describing these sociopaths who goto online chatrooms and tells people to hurt themselves.

What if the guy loses all his money because he follows your advice and starts an account and leverages to the hilt? Are you going to be liable for loss because you told him its ok to trade futures with his $6k? Painting a picture about big profits big dreams, how to sign up accounts, pay commissions, but not how to trade?

Sociopaths.

This this might be directed at me, since I was speaking highly of Db, so let me address this.

I see you signed up just last month. Given how strong your opinions already are, you are either a person who has been around before with a different name, or a failed trader who is new here but already mad at the idea that some people can make trading work.

I have patience for angry people because I understand anger and frustration well. But I don't have much patience for stupidity. If you only followed some posts of DbPhoenix, you would see his system is clearly outlined with links provided. So first strike for you there.

As to it's verification, what is stopping you from doing this for yourself? Its actually quite simple, but I will save you lots of time. Each and every single trader on here who has tried following the "Straight Line Approach" has in fact had practically every single week up. I know because I've asked many of them. I also know because I have done it myself for 2 weeks, and not even all that diligently. So if you cannot even do your own research to find the validity of your statement that the system isn't verified, you deserve to lose at trading.

Third... how do you know if he isn't on the Forbes list? I of course hardly doubt he is, but you seem to already have all the questions answered, so why are you even here on ET? Maybe he just trades one contract and is happy with the steady stream of income this provides.

Lastly, he never said he was good. I said he was good.

This line of argument that you present has been done so many times on here before. Each time the person doesn't even check their facts, heck, they don't even read the materials provided. They come in here with a preconceived idea, and they aren't on here to learn, they are on here to make themselves feel better by attempting to prove that nobody can make money at this, thereby making their own failure easier to accept.

At least you haven't sworn.. I'll give you that!

If you really want to learn, forget everything you know and open your mind. If you just want to make yourself feel better, getting everyone to agree with you is really really difficult.

Let's face it, you are here because deep down inside you must believe that some people do make money at this, and you desperately want to be one of these people. If this is the case, you will eventually have to start believing something.

 

[k p]

You are right about this:

I really don't think someone with $6K should be trading futures. I also don't think people can successfully time markets to precision consistently.

You are right about what you think because you after all think it. As for the validity of this comment, I wouldn't even bother any more.

 

[niko]

Nobody is telling anyone to go an open a 6k account and start trading eminis WITHOUT A TESTED PLAN because that is not only overleveraging but complete stupidity.

Now, if after having tested a plan and knowing what the max drawdown is, assuming the trader is a good scratcher and can also let his profits run, he doesnt even need 6k to start, he can do it with 2k or less.

People need to understand that in order to make money is not necesary to lose it, but he hard part is coming out with a plan that allows the trader not to lose too much, that will take him from 6 months to a couple of years, but is up to him.

 

[oraclewizard77]

Exactly +3, the problem is that some people don't have the ability to understand simple English. As far as I know no one here is suggesting that someone who does not know how to trade go risk real money.

Also, as noted in my previous posts there are many charting applications that will allow one to demo trade and not risk any real money to try to learn to trade and help develop a plan. I also think shorter term trading helps one learn faster than someone who holds a position weeks or months. You can see right away what you did right or wrong. Sometimes right after I entered a trade I know I made a mistake and as Niko says you don't even need to let the market go against you for even 1 point. You can scratch the trade and take a loss just on commissions.

Nobody is telling anyone to go an open a 6k account and start trading eminis WITHOUT A TESTED PLAN because that is not only overleveraging but complete stupidity.

Now, if after having tested a plan and knowing what the max drawdown is, assuming the trader is a good scratcher and can also let his profits run, he doesnt even need 6k to start, he can do it with 2k or less.

People need to understand that in order to make money is not necesary to lose it, but he hard part is coming out with a plan that allows the trader not to lose too much, that will take him from 6 months to a couple of years, but is up to him.

 

[Birinhos]

Hello,

I have been simulating ES trading on Ninjatrade. The default account cames with 100K but I updated to 2K and I have been making money in simulation (6 months training every days - had to use several accounts because the simulation account is very short - some lose more days win). My winning average is 80-100$ per day my biggest loss 300$. I do very short (in time) trades my stoploss is 50$ - 4 ticks.

Like I said I am using Ninja trade just in simulation ... I dont see why 6k is not enough .. I am missing something ?

Of course I never leave a position open if I leave the PC ...

 

[Overnight]

Like I said I am using Ninja trade just in simulation ... I dont see why 6k is not enough .. I am missing something ?

Of course I never leave a position open if I leave the PC ...

How many contracts are you trading in your positions? (Your stop-loss notwithstanding)

 

[Birinhos]

only one contract at the time

what do you mean with "Your stop-loss notwithstanding"?

I use ATM when the order is filled the stop is instantaneous placed (the "stop profit" is decided by me )

I use the superDom view ... you can see the possible PL (per tick movement) there I send image in attach

I am simulating with the worst commissions (commissions are not displayed on the superdom)

 

[Birinhos]

Still do not understand why 6k is not more than enough for day trading in ES (?)

 

[Overnight]

...
I am simulating with the worst commissions (commissions are not displayed on the superdom)

I see the charts, yes. Commish is irrelevant. I am not up on how NT8 is working out with what its sim-engine is doing.

Like I said I am using Ninja trade just in simulation ... I dont see why 6k is not enough .. I am missing something ?

Look at it this way. Imagine if you wanted to open up a brick-and-mortar business, like a retail florist shop.

You have your shop paid for, but now you need staff, money for the lease of the land, utilities, property taxes etc. This is all going to cost monthly fees, usually. Could it be done on a budget of $6K? Not unless the business made a lot more than that after the first month.

 

[Overnight]

Still do not understand why 6k is not more than enough for day trading in ES (?)

Apologies that I cannot be more descriptive and detailed here, it's been a long week. To be quite honest with you, $6K is "sufficient" to trade a single ES contract. But a few bad losers and you're out of the game.