InvestorsHub Logo
icon url

capgain

12/18/14 8:10 PM

#59935 RE: Agent13 #59933

Ok gotcha, I'll get back to you tomorrow on some important things that i learned as a newbie also, not trying to scare you but you really need to understand who you're trading against when you play that game. All the big dogs trade e-mini's. I and those who taught me about them, just tried to scalp or daytrade 10 ES points, 100 Yms or 25 NQs a day. You can't even use stops with that strategy, they will stop you out all day long if you do. Some days you can do well and others not so well at all.

Another guy taught me to just swing trade them. Find your entry, put in your stop and turn everything off. Don't even watch. Same deal with that, you win some and lose some. My first futures trade was a long YM. I was a self employed painter at the time, went long the Dow and put in a stop that i could not lose more than $100. which is 20 ym points. I took off to the paint store to buy the paint for that job, I was gone 45 minutes and when i got home a checked my account i was up $1200 in 45 minutes! I was hooked.

But i'm sure you know, it goes both ways. One time i lost $800 in gold, in in less than 1 minute. BECAUSE i did not use a stop loss and hit a wrong button trying to get out quick. You can be long or short in anything with just a click of a mouse. There's no punching in orders.

BTW that was trading only 1 contract at a time, you can trade as many as you can afford to.

I seemed to have a better feel for the QM (Crude oil) Should have stuck with that one IMO. It was all about drawing TLs on 13 and 60 min charts for me there.

Even with the emin's, you are trading on massive margin.

http://www.investopedia.com/university/how-to-trade-e-mini-futures-contracts/