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You have only spent a year at this game, if you don't want to blow
your account it may take a few more.
Basically you can learn this game in two ways
1. Rush in and blow your account, save up again then rush in and blow
your account, save up again then rush in and blow your account.
Some of the big names today started out this way.
2. Hold off and do many hours of study, only invest when you have a
historically proven strategy your account can afford.
You will have to daytrade with electronic order entry, keeping very
tight stops (3 or 4 ticks) to preserve as much capital as possible.
I think bonds US and TR are a good place to start but you have
to watch certain days, small accounts usually don't hold a position
when there is a Fed announcement such as an interest rate announcement.
You can download tick data from the CBT but they only have the data
for one day, as soon as the session ends the current days data replaces
the data from the day before.
regards
foolsgold
JL> Having spent a year 'fiddling about', trying to learn about the futures
JL> markets from nothing and doing some testing work with Tradestation, I'd like
JL> to focus my work better right now.
JL> Recognising that most people lose their risk capital in the futures market,
JL> I want to start with a very small stake (maybe $3,000). Yes, I know it gives
JL> me almost no chance to survive, but I figure better to make my early
JL> mistakes trading very small.
JL> My question is, which market(s) should I focus on with such a small stake. I
JL> think I will need to set very low hard dollar stops (say, no more than
JL> $500), so I can't trade markets that are likely to stop me out on the day of
JL> trade simply because the tick value is too great. Similarly, margins will
JL> need to be low.
JL> Should I focus on the Midam markets (can't find continuous contract data for
JL> these though) or lower value CBOT etc markets (Oats maybe?).
JL> Your thoughts and recommendations would be greatly appreciated.
JL> Thanks
JL> Jerry
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