Ninja Trader has a default position limit on ES at 100 contracts.
What kind of approach can make you INSANELY rich?
- Thread starter trade5656
- Start date
You guys want a business idea? Alrighty, here is one:
"Deflazacort, a steroid, can be purchased online from non-US sources for $1.00, but now it's being marketed by Illinois's Marathon Pharmaceuticals for $89,000 as Emflaza, to treat Duchenne muscular dystrophy, which predominantly affects men in their 20s."
So buy it online for $1, resell it for 89K. You might going to have a sudden taxproblem though...
"Deflazacort, a steroid, can be purchased online from non-US sources for $1.00, but now it's being marketed by Illinois's Marathon Pharmaceuticals for $89,000 as Emflaza, to treat Duchenne muscular dystrophy, which predominantly affects men in their 20s."
So buy it online for $1, resell it for 89K. You might going to have a sudden taxproblem though...
Well, on ET many people pretend they are experts because they can use Google. So I stopped arguing yesterday.
I traded already the equivalent of 100 contracts Emini in the 90's when the Emini did even not exist and the value was at that time $250 a point.
Discussion closed for me. Counterparty is too smart for me and the real expert.
@NinjaTrader_RJS
Send a message to Ray.
He's the boss of Ninjatrader and he can answer you quickly.
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Don't make yourself look more stupid then you did already.
It is clear that you NEVER traded the ES.
The 50 is not a limit in number of contracts.
If you would be smart you could understand it: you should just google a few of these contracts and then see if you would find this "so called limit" in the contract specifications. The rest you should find out yourself. If you are smart you will see what mistake you made as a newbie.
I have an agreement with brokers about the margin required depending of the size of the position. Till 100 contracts I need $500 margin, from 100 till X I need $1,000, from X till Y I need $xxx margin, etc...
This is important:
http://www.cftc.gov/industryoversight/marketsurveillance/largetraderreportingprogram/index.htm
http://www.cftc.gov/Marketreports/CommitmentsofTraders/index.htm
NFA clearing members, FCMs and foreign brokers must file daily reports with the CFTC showing futures positions held in their accounts that are at or above levels set by the CFTC. The daily reports also include delivery notices and exchange of futures for cash or other financial derivatives.
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Raise $100 Billion AUM and charge 2/20
This spread is bullish. Leverage on hyper etf. Using synthetic ratio spreads on hyper etf may do the trick. However, it's do or die if the trade goes against you, be prepared. Short near the money put x1, long otm call x2. You'll need to play around with right ratio, premium and strike for the ultimate combination. Minimum cash outlay but you'll need to flatten out your position immediately if the trade goes down and against you. Not recommended for traders with a weak heart. Competition traders use this to win.
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Most ES can do is 2,000 contracts "per" entry if you have platform that accepts that, BUT you or automation can be hitting that puppy in rapid order till ???
https://www.cmegroup.com/trading/equity.../faq-e-mini-equity-index-futures.pdf
Since Asia has exchanges, traders there have gone from trading USA markets to Asia markets. Even Europe and Latin America is trading more than in USA, so our exchanges are flattening out and some markets are declining.
http://marketvoicemag.org/?q=content/2015-annual-survey-global-derivatives-volume
This is bit older but never the less interesting.
http://emini-watch.com/emini-trading/emini-futures/
You can see where Volume is declining over past 7 years.
If you have to depend on "Trading for a Living", compounding is extremely hard to do, unless your spouse is working, you have to be taking money out each month to exist including health insurance and every 3 months to pay quarterly taxes. 250 contracts on 100k account? I don't know of any broker willing to take that risk, broker would be risking over one million bucks on your 250 contracts if another 911 happened, I think most are willing to risk 5-10k on smaller accounts as it is easier to get it out of individual account holders, but getting over one million from one guy who might have to file bankruptcy would cause brokerage to do the same? That be a lifetime of paying back through commissions. But if you had like one million of T-Bills with broker or another form of currency on deposit for backing up ES, I would think most likely.
Unless you have smaller accounts, making 20% each month, it possible, you have one hell of a good system for being a trader with small account and taking out money to live on each month. If you have a 10k account and can live on $2,000 each month, where is the compounding? Just cause you have the funds in your account, unless you come to a point and stopped valuing money, fear of ruin comes into your thoughts and as you get older, wiping out is a pisser cause it is tougher to recoup, less time. Better to lose accounts when younger and working hard to learn how to accumulate than betting it all on one dumb idea, man I wish I had someone bitch slap me in 1985 with grains and again Aug 1997 cause I just "knew" Bonds were topping, don't put all fish in same pot. NOTHING is a sure winner, just ask Hillary.
Traders who go for much bigger profits than 1-8 ticks, I wish I could do that, but for whatever reason, I can't day that, I average much lower, so low at times I have to think why the hell am I day trading as I do better long term when it deals with R:R. Most likely afraid I will lose knowledge, you don't use it, you will lose the nuances. I envy the guys that handle the stress of day trading for a living, I never liked it from the start but pushed myself to trade, automation has become heaven sent for me, it is almost to point of not caring, but I still trade very lite manually to keep knowledge.
Insanely rich, so much depends on you. Pardon my language, but many that are billionaires, are assholes in my thinking, do you want to be like them or prefer to have real friends. Start young and put down 15% and buy rental houses, you learn to make repairs till you have too many of them, interest rates very low, they will never be this low for.....every year learn to buy few each year and get 30yr mortgages but pay twice a month, buy land few miles from edge of cities/towns if you in 20/30s, buy land for storage units especially near military bases. It is like trading, you net $80 a day-do 60 contracts, make approx. million a year. Beginning years you are learning, middle years accumulating.
https://www.cmegroup.com/trading/equity.../faq-e-mini-equity-index-futures.pdf
Since Asia has exchanges, traders there have gone from trading USA markets to Asia markets. Even Europe and Latin America is trading more than in USA, so our exchanges are flattening out and some markets are declining.
http://marketvoicemag.org/?q=content/2015-annual-survey-global-derivatives-volume
This is bit older but never the less interesting.
http://emini-watch.com/emini-trading/emini-futures/
You can see where Volume is declining over past 7 years.
If you have to depend on "Trading for a Living", compounding is extremely hard to do, unless your spouse is working, you have to be taking money out each month to exist including health insurance and every 3 months to pay quarterly taxes. 250 contracts on 100k account? I don't know of any broker willing to take that risk, broker would be risking over one million bucks on your 250 contracts if another 911 happened, I think most are willing to risk 5-10k on smaller accounts as it is easier to get it out of individual account holders, but getting over one million from one guy who might have to file bankruptcy would cause brokerage to do the same? That be a lifetime of paying back through commissions. But if you had like one million of T-Bills with broker or another form of currency on deposit for backing up ES, I would think most likely.
Unless you have smaller accounts, making 20% each month, it possible, you have one hell of a good system for being a trader with small account and taking out money to live on each month. If you have a 10k account and can live on $2,000 each month, where is the compounding? Just cause you have the funds in your account, unless you come to a point and stopped valuing money, fear of ruin comes into your thoughts and as you get older, wiping out is a pisser cause it is tougher to recoup, less time. Better to lose accounts when younger and working hard to learn how to accumulate than betting it all on one dumb idea, man I wish I had someone bitch slap me in 1985 with grains and again Aug 1997 cause I just "knew" Bonds were topping, don't put all fish in same pot. NOTHING is a sure winner, just ask Hillary.
Traders who go for much bigger profits than 1-8 ticks, I wish I could do that, but for whatever reason, I can't day that, I average much lower, so low at times I have to think why the hell am I day trading as I do better long term when it deals with R:R. Most likely afraid I will lose knowledge, you don't use it, you will lose the nuances. I envy the guys that handle the stress of day trading for a living, I never liked it from the start but pushed myself to trade, automation has become heaven sent for me, it is almost to point of not caring, but I still trade very lite manually to keep knowledge.
Insanely rich, so much depends on you. Pardon my language, but many that are billionaires, are assholes in my thinking, do you want to be like them or prefer to have real friends. Start young and put down 15% and buy rental houses, you learn to make repairs till you have too many of them, interest rates very low, they will never be this low for.....every year learn to buy few each year and get 30yr mortgages but pay twice a month, buy land few miles from edge of cities/towns if you in 20/30s, buy land for storage units especially near military bases. It is like trading, you net $80 a day-do 60 contracts, make approx. million a year. Beginning years you are learning, middle years accumulating.
Is the stock a good buy?