how to start futures trading (emini)

No the fees are insignificant ... not even 100$ month... I think to access the data feed of the broker is less than 20$ for futures and less for forex markets to make correlations ...

For day traders the most important are low commissions. If you pay 1000$ upfront the commissions go from 4.30 per trade (standard) to 3.60$ (lifetime license). (I do simulation with 4.30$ to test myself, each day half of winnings go to commissions because I do lots of trades)

The simulation is very good on NT it simulates even the position in queue...

Still I don't understand can you explain more clear ( the "cost monthly fees" you say) what I am not seeing that makes 6k impossible for ES ?

If I have 50$ in stoploss for each trade I will have to make lots o losing trades to be "out of the game". (and many times I see I am wrong and close before reach the stoploss...)

Sincerely
 
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Overnight said:
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.
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Okay ...

On the election night I made 177,823.66€ (including commissions) with one simulated account with 2000€ ...

I went short on ES ... it starts to win I put more contracts keeping stops loss at 0 and it went "down all night long".... with only 2k (anyway I was putting 0$ at risk after a good initial entry ... ) .. not even 6k

here I send the image

Of Course if you let the position open from one day to another and trade with more than one contract 6k is suicide .. but for day trading I dont see why is not more than enough 6k
 

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Birinhos said:
Okay ...

On the election night I made 177,823.66€ (including commissions) with one simulated account with 2000€ ...

I went short on ES ... it starts to win I put more contracts keeping stops loss at 0 and it went "down all night long".... with only 2k .. not even 6k

here I send the image
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Methinks your NT8 simulation has commas where decimals should be. If you could turn $2K Euros to $177K Euros in one night on ES with one contract, and then scale in to the size you must be proposing? Retire right now. Do not pass go, and ask no questions.

Just shut it down and move to the Cayman Islands.
 
Overnight said:
Methinks your NT8 simulation has commas where decimals should be. If you could turn $2K Euros to $177K Euros in one night on ES with one contract, and then scale in to the size you must be proposing? Retire right now. Do not pass go, and ask no questions.

Just shut it down and move to the Cayman Islands.
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with the commas and decimals are you trying to say it is fake ? ... I assure is not ... and I am saying this is simulation so I dont have interest in fabricate images .. and that was a special time (elections night) I dont even considerate in my statistics ... to measure my effectiveness...

Anyway I am self employed day trader but in a different type of market (and yes I choose my place of work as long it has a good connection :) )... I am training SP500 on NT to see if I change markets ... I am in this training for 6 month (I am a professional trader in other markets for more than 7 years.. my PhD is on Machine learning applied to trading ... ) with discipline to test my approach in ES ... maybe some day I will change .... Maybe in April on frace elections I will use real money on ES ... If Marine Le Pen starts to win EUR/USD will drop and ES will go UP ..

I will use less than 6k for shore ... until someone explain why not for day trading
 
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Birinhos said:
If I have 50$ in stoploss for each trade I will have to make lots of losing trades to be "out of the game".
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ES moves at $50 per point. You're really going to have a 1-point stop-loss?

(I know there are people who do - I'm "just asking". To me, allowing for a bit of slippage, it seems tiny.)

I see that on paper, if you take great care, if you trade one contract only, and if you have a tiny stop-loss, you can just about make out a case for $6k being enough to trade ES. I wouldn't dream of trying to do it, myself. :caution:
 
Overnight said:
You will fail unless you have a killer day trading plan.
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So far I am in positive, good positive... My strategy seams to work. very Small trades tied stoploss ... look a lot to NQ that has strong correlation and more precise price step ... look to EUR/USD to do inverse correlation ... Look to DX to confirm entries ... the rest is to train to train a lot... Consider the initial big volume of the day direction ... ... I dont think I will fail .. If I do I am already secure in other markets ... And If I do is only less than 6k lolol
 
Xela said:
ES moves at $50 per point. You're really going to have a 1-point stop-loss?

(I know there are people who do - I'm "just asking". To me, allowing for a bit of slippage, it seems tiny.)

I see that on paper, if you take great care, if you trade one contract only, and if you have a tiny stop-loss, you can just about make out a case for $6k being enough to trade ES. I wouldn't dream of trying to do it, myself. :caution:
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where did you see that ? one tick of the price movement is 12.5$ (this is standard knowledge... ) .... see my first image you can see the ladder of prices and the PL if I close on each price ...
 
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