Now hear this,

Stick $5,000 in an account and trade one futures contract on the YM. There is no sense in funding a $25,000 account and worrying about being on the threshold of falling below. I see it time and time again!!

[JayRemy]

Originally Posted by rwalkerx »

Now hear this,

Stick $5,000 in an account and trade one futures contract on the YM. There is no sense in funding a $25,000 account and worrying about being on the threshold of falling below. I see it time and time again!!

yah - i totally agree. i'm a noob and put 5k in an account and started trading 3 contracts - then lost 1k pretty quickly, so dropped to 2. The point is all i could think about was - i have to trade as many contracts as i possibly can, so i can make more money really quickly and trade more contracts - there becoming the richest man on the planet ! But alas, here lies the very first rule of trading that i discovered. Its not about the money. Its not about the money. Now, i dont care if i put a trade on, simulate it or just watch it - the only thing i care about is learning the system, understanding the inner workings of the market, becoming its friend - gennerally getting to know the market, tape, mp etc oh and read read read read all the many great books out there.

Basically, I think, when your a noob its all about education, building experience cheaply and study study study study. :rolleyes: