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Windlesham1 Visaria Windlesham1 wrote on Visaria's profile.
I'm in Surrey- options trader of many years looking for trading buddy to explore all avenues of profitable trading
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For trading blocks, arbitrage, and some strategy trading, the large contract can be preferable.
Some prefer to place market orders in the large contract in times of wide fluctuation. And, of course, there are times when the large contract offers a better price for the small trader.
Some prefer to place market orders in the large contract in times of wide fluctuation. And, of course, there are times when the large contract offers a better price for the small trader.
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pletokyo learner2007 pletokyo wrote on learner2007's profile.
I see. My goal is to eventually grow my account large enough so I can trade the large contract and applying proper risk management.
Recently, the large contract market has been doing more volume than the mini contract market. I am really curious as to why investors/traders choose to trade in the large market over the mini market since mini may be able to offer better entry. Say a retail trader has enough capital to trade 10 mini contracts, should he/she trade 1 large contract instead?
Recently, the large contract market has been doing more volume than the mini contract market. I am really curious as to why investors/traders choose to trade in the large market over the mini market since mini may be able to offer better entry. Say a retail trader has enough capital to trade 10 mini contracts, should he/she trade 1 large contract instead?
If you have been, and still are, successful with futures, fine. It's just that the graveyards are full of those who started out trading futures without years of experience in stocks, where with less risk one can learn to trade and develop a trading plan. Given the large number of stocks that are suitable for trading, there are constant and varied opportunities to quickly gain experience. You must be taking night classes at Sophia as you're day trading.
Most brokers require at least 1 year of experience before they approve a margin account.
If you have 500,000 yen, you're using around 10% for margin, which is fine. But just because you can afford to trade more contracts, isn't a reason to do so. You should stick with 1 contract until you are consistently profitable. Then compound your profits until you can buy 2 contracts. Then 3 etc. But don't forget to withdraw some profits for a rainy day rather than adding contracts.
Most brokers require at least 1 year of experience before they approve a margin account.
If you have 500,000 yen, you're using around 10% for margin, which is fine. But just because you can afford to trade more contracts, isn't a reason to do so. You should stick with 1 contract until you are consistently profitable. Then compound your profits until you can buy 2 contracts. Then 3 etc. But don't forget to withdraw some profits for a rainy day rather than adding contracts.
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pletokyo learner2007 pletokyo wrote on learner2007's profile.
Hello,
Thanks for your information. Can you elaborate more on the reasons why you think starting out with shares trading is better than futures trading? Two main reasons why I am trading futures but equities are 1) I was denied a margin account by my broker when I first started 2) I don't know how to pick stocks for day-trading.
Just a side question. Can you shed some light on money management for day-trading mini nikkei contracts? Right now what I do is for every 500k yen I have, I trade 1 mini contract. Sometimes I feel I could be a bit more aggressive. Would you say that is about right?
Thanks for your information. Can you elaborate more on the reasons why you think starting out with shares trading is better than futures trading? Two main reasons why I am trading futures but equities are 1) I was denied a margin account by my broker when I first started 2) I don't know how to pick stocks for day-trading.
Just a side question. Can you shed some light on money management for day-trading mini nikkei contracts? Right now what I do is for every 500k yen I have, I trade 1 mini contract. Sometimes I feel I could be a bit more aggressive. Would you say that is about right?
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nemesis45 Maverick74 nemesis45 wrote on Maverick74's profile.
Hi, I came across this at a thread on which you posted.
" Best deal around? Come on pal, there are firms in Chicago paying guys 500k plus with 60k to 75k in base pay while you are training, not even placing trades, with full benefits and a chance at becoming a partner if you do well. No, that is not the norm of course. It's the exception. I'm just comparing what "making it" at Tower Hill looks like compared to "making it" at a better firm. The two are not the same. And the deferred hold back is not unique to Tower Hill. Every firm in Chicago does that and yes guys walk away from that. A good buddy of mine walked away with 500k in deferment to go to a smaller firm with more upside. He regretted it. But it was because of the circumstance of the new firm."
could you mention a couple of such firms?
I have a good job here now at a pure prop, but would still like to know, what kind of opportunities exists in discretionary trading.
" Best deal around? Come on pal, there are firms in Chicago paying guys 500k plus with 60k to 75k in base pay while you are training, not even placing trades, with full benefits and a chance at becoming a partner if you do well. No, that is not the norm of course. It's the exception. I'm just comparing what "making it" at Tower Hill looks like compared to "making it" at a better firm. The two are not the same. And the deferred hold back is not unique to Tower Hill. Every firm in Chicago does that and yes guys walk away from that. A good buddy of mine walked away with 500k in deferment to go to a smaller firm with more upside. He regretted it. But it was because of the circumstance of the new firm."
could you mention a couple of such firms?
I have a good job here now at a pure prop, but would still like to know, what kind of opportunities exists in discretionary trading.
Thank you for the GHU info. I'll pass it on. Limit orders only. While futures are attractive, you might want to consider starting with stocks. And after a few successful years, move on to futures. The platforms the brokers provide leave much to be desired. You might want to check out Kabu.com and Okasan. I don't know how up to date the following site is, but it might be of help for tools, fees etc. http://minkabu.jp/hikaku/fee.html. Many use one broker for charts, lists etc. and another for orders. Or you could use eSignal and Livestar which I think is the cheapest for futures.
If you have never clipped coupons, you might think that you have got it under control. However, there are a lot of people who use coupons and save a lot of money on all kinds of things, from groceries to trips around the world. To get some tips and take you to the next level, keep reading.
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pletokyo learner2007 pletokyo wrote on learner2007's profile.
Also, may I ask which broker you use? I am with SBI Securities because I use their internet banking services as well as credit card. But I feel their commission is a bit high compared to Click and IB. However, I do like their trading platform a lot. What is your opinion?