Zen Fire Disaster

Quote from Andromeda:

Please add other instruments in the free demo you provide

4 symbols real time are not enough to evaluate the CQG/NT combo
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Only 4?

CQG is expanding the demo environment...email trading@ampclearing.com your instrument request

Remember, live account only $500 to get started and includes full market access
 
Quote from trader123abc:

EMG
I would like to thank you for your information regarding Zenfire and Rithmic. I was looking for information and this thread popped up.
I was with Mirus using N.T. and found Matt at www.optimusfutures.com they clear thru Visions which is a solid FCM
I had called Matt and he was a stand up guy, explaining as you had that Rithmic was the provider and Zenfire was created to market there name. He also told me they run on different servers, which I confirmed with a call to Rithmic direct.Maybe thats the reason sellers of Zenfire says they are there own provider? Matt save me $$ on my commissions and also suggested R | Trader as a back up in case N.T. goes down at no charge. I never had any IB do that before! Anybody using Zenfire should look into this as it will pay off you as well.
Again thanks to EMG for the heads up.

Trader
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Thank you EMG and Trader123.
Amazing how fast some brokers has buried these few good words
Lets go for another round boys
 
No its not. That is more than enough to make money if you have an edge. Also, it does not matter if you have $ 400,000 like Neke, if you don't have an edge, you can have massive losses. So starting small is better than blowing out a huge account since having more money in an account does not make your dick any bigger or you a better trader.

Quote from CPTrader:

This is excessively low margin/excessive leverage...very detrimental to BOTH trader and FCM....AND also to clients of FCM that are less levered.
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Quote from oraclewizard77:

No its not. That is more than enough to make money if you have an edge. Also, it does not matter if you have $ 400,000 like Neke, if you don't have an edge, you can have massive losses. So starting small is better than blowing out a huge account since having more money in an account does not make your dick any bigger or you a better trader.
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You missing the point. The small margin brokers take is to attract smaller guys who dont know how to trade so they do gazillion traders, this is not meant to help the guy who has some sense and wants to trade. This is a whole new thread in itself.
 
How am I missing the point when I put in that you need to know how to trade with an edge to make money. Also, I don't think you need a $ 20,000 - $ 100,000 account, if you want to practice live with real money to see if your strategies work. Sim is fine to test ideas, but once you see them working, you need to test with real money.

Also, for example, I am not saying that say you put in $ 3,500 and you get 1 ES contract to trade for every $ 500, you should then put in a 6 contract trade, but if you want to trade 1 contract with a stop and profit target, then I don't think you are using insane leverage.

Quote from RobertG:

You missing the point. The small margin brokers take is to attract smaller guys who dont know how to trade so they do gazillion traders, this is not meant to help the guy who has some sense and wants to trade. This is a whole new thread in itself.
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Quote from oraclewizard77:

How am I missing the point when I put in that you need to know how to trade with an edge to make money. Also, I don't think you need a $ 20,000 - $ 100,000 account, if you want to practice live with real money to see if your strategies work. Sim is fine to test ideas, but once you see them working, you need to test with real money.

Also, for example, I am not saying that say you put in $ 3,500 and you get 1 ES contract to trade for every $ 500, you should then put in a 6 contract trade, but if you want to trade 1 contract with a stop and profit target, then I don't think you are using insane leverage.
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$3,500 is 5% of the notional value of the ES. It's hard to grow that account if at all. Consider a drawdown of 2.5% of the notional value and you are wiped even trading a one lot.
 
If you lose $ 3,500 on a single contract trade, then you don't know what you are doing. Even if you have a $ 100,000 account and lose $ 3,500 trading a single contract on ES, you still don't know what you are doing.

Over time, you can blow a $ 3,500 account, but I don't see any proof this could happen with a single contract trade. If you really believe this, provide some proof like your brokerage statement on how you did this feat of stupidity.

Quote from RobertG:

$3,500 is 5% of the notional value of the ES. It's hard to grow that account if at all. Consider a drawdown of 2.5% of the notional value and you are wiped even trading a one lot.
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