Traders Laboratory - View Single Post - Newb to investing qustions needing answers
View Single Post
  #2 (permalink)  
Old 06-22-2007, 11:51 AM
cooter's Avatar
cooter cooter is offline
cooter has no status.
Banned

 
Join Date: Mar 2007
Posts: 633
Thanks: 0
Thanked 7 Times in 2 Posts
Re: Newb to investing qustions needing answers

1. You need to find a futures broker. Don't go with a stock brokerage to trade futures, if they even support it. They are two different, but otherwise related, beasts. You need a broker who understands what futures trading is all about, especially if you are a newbie needing support to get started.

2. Once you find a futures broker, they should have the e-minis (ES, YM, NQ, ER2) available for you to trade.

3. This 401K is money that you can afford to lose, right? Roll it over to an IRA, then have a custodian setup the account so that you can trade it with a futures broker. Millennium Trust is one custodian that I've heard of - your broker will advise you if they can support this type of account for you to trade in, and who they recommend as a custodian.

4. Again, if it is money that you can afford to part with - certainly. The learning curve for many traders is very steep, so be sure to only use $$$ that you don't mind not having the next day.

5. Read this forum from top to bottom. There should be some nuggets of information that may help you get started.

Just my two ticks' worth.

Reply With Quote