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General Futures Discussion

Discussion in 'Futures Trading' started by IchiFutures, Apr 12, 2016.

  1. OldFart

    OldFart Well-Known Member

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    scalped about $300 ( E/S ) last two days....just can't seem to get into the rhythm...practice makes perfect I guess.

    edit: $400 now
     
    #41 OldFart, Apr 3, 2018
    Last edited: Apr 3, 2018
    rg7803 and bigbear0083 like this.
  2. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    Hey @OldFart - I've been looking at getting into some @ES futures trading. I have been working on a strategy, but I'm trying to full understand the margin requirements/how much a contract actually is?

    Say I have $30,000 in an account - How many contracts would I be able to buy? Are the contracts 50 units (I think I read that somewhere?)

    Thanks for any help!
     
  3. OldFart

    OldFart Well-Known Member

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    #43 OldFart, Apr 27, 2018
    Last edited: Apr 27, 2018
  4. OldFart

    OldFart Well-Known Member

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    @IchiFutures is the master of futures, so we need him to chime in here...hopefully, he get's this message...hard to reach since he's probably living on his own island now...lol

    @AverageJoesTrades
     
  5. IchiFutures

    IchiFutures Active Member

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    The problem right here is "how many contracts can I buy?" Forget contract amounts. learn to make money entering 1 contract at a time. Very simple, defined entry points and exit points. I buy when I see price bullish. When I see it again, I buy again. I may have up to 7 contracts on at a time. When I see bearish, I take one contract off. If another bearish signal, then another contract.

    Anyway...I would never trade more than 2 contracts with 30,000 and I think most guys should be trading futures with 100k. When you're not really sure how good your strategy is, you are at extreme psychological risk and having a 30k in your account, you may bail good trades because your risk starts to make you feel uneasy. Futures are an easy way to lose a lot of money, quickly. trade small and don't hop in and out in and out. You should have a strategy where you can buy and hold for a few days and if you really know what you're doing you may hold and add onto your position through the contract month.
     
    #45 IchiFutures, Apr 27, 2018
    Last edited: Apr 27, 2018
  6. StockJock-e

    StockJock-e Brew Master
    Staff Member

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    He speaks! ;)
     
  7. IchiFutures

    IchiFutures Active Member

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    @StockJock-e still at it and better than ever! How are you big guy?
     
  8. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    I needed the amount of margin to see what the total amount of contracts would be for the parameters in my algorithm. I have parameters for initial capital then needed initial margin + maintenance to ensure I won't wind up in a margin call situation.

    Thanks for the input and feedback.
     
  9. IchiFutures

    IchiFutures Active Member

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    @AverageJoesTrades - NY session margin may vary between brokers. Overnight requirement is $7,700 per contract. CME has maintenance listed at $29,000.
     
    #49 IchiFutures, Apr 28, 2018
    Last edited: Apr 29, 2018
  10. IchiFutures

    IchiFutures Active Member

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    and still going! @Cire2222
     

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