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Old 05-08-2007, 12:09 AM
darthtrader darthtrader is offline
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This member is the original thread starter. if you had to start over...
how would you setup your first index futures account/strategy/risk management/position size/profit target?

i just closed out my last swing trade today so should be getting setup in the next few weeks. i'm looking to open a $5k tradestation account. trade YM, 1 contract.
i have been thinking a 10 point stop, 20 point daily profit target. do those sound reasonable? I would like to then add in another 5k to the account once i'm consistent to be able to scale with 2 contracts.

any general mistakes anyone made they would like to share that might be able to avoid?

also, did anyone not blow up their first account? I realize that may be a given on this account.

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