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Hello Jerry,
$500 is too much of a stop for a $3k account.
maybe Dow futures at $20 ($10) per point.
can you control overnight price moves? mini SP's yes; Oats???
find a broker who will convert your trades to an option position.
market liquidity can eat you up even if margins and point values look
tame.
if you've worked with a system you've developed in TS, better go with
that system.
there's always Atlantic City.
Best regards,
Jim Johnson mailto:jejohn@xxxxxxxxxxx
--
Saturday, August 24, 2002, 2:47:48 AM, you wrote:
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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