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SpearPointTrader
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Everything posted by SpearPointTrader
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Introduce Yourself Here - Don't Be Shy!!
SpearPointTrader replied to trading4life's topic in Beginners Forum
I would think 2000 is awful thin of a margin for futures. You could probably use some of the Mini contracts, but you won't make much money. I have recently picked up a trading course that recommends you have at least 3 times the needed margin to controll a contract. With a small account, you have to be really good, and have the ability win like 80% of the time. Those first dozen trades, especially, you have to win them all. No losses....which is almost impossible for a professional, let alone a beginner. -
The First Day of My New Trading Business
SpearPointTrader replied to Xiao si's topic in Beginners Forum
Hello! My first post here. I have been day trading using multiple time frames, which allows me to get a better feel for what is going on. I choose my market using the weekly and daily markets, then I focus on the 30, 10 and 3 minute charts for my actual execution. The thing I think is very important is having definit exit strategies, and the ability to see if a trade is going bad quickly before they become losers and hit stop loss orders.