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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: CatLady who wrote (15782)	2/17/1999 10:30:00 PM
From: Tom Trader	Respond to of 44573

Scott or Coug should be able to help you since they both trade the mini I know that Coug uses Lind Waldock -- not sure what they charge him; its usually negotiable depending on the # of round-turns you'll likely trade each month. Margin varies with different brokers -- probably around $3500 to $4000 per contract for the mini. Capital -- I'd say that you'd at a minimum want about two and a half times the initial margin requirement to provide you with some buffer -- if you are position trading. If you are day trading then you can manage with less. Books: Kauffman's "New Commodity Trading Systems and Methods" Murphy's "Technical Analysis of the Futures Markets" and Elder's "Trading for a Living". The last one provides a psychological component to what is involved in trading.

To: CatLady who wrote (15782)	2/17/1999 10:40:00 PM
From: SE	Read Replies (1) \| Respond to of 44573

Wow...difficult questions that require some hard thought answers. I think I will start (oopss...Tom beat me to it!) and let the others on the thread with more experience offer what they can as well. 1. How much $ is required to trade the e-mini? A practical minimum so the first drawdown doesn't wipe me out? I think this depends somewhat on your trading style and the drawdowns your system undergoes. The minimum margin is $4,125. I believe you can cut that in half for day trades. I think if you look at your methodology and determine the maximum consecutive drawdown, add that to the $4,125, kick in a couple thousand for extra and you should be OK. That is not to say your mental state would be OK however. This is a tough business to do if you are undercapitalized. Trust me on this, I know. :) 2. What should I read to learn about futures? This could take a book to suggest readings. There is the Linda Rashke website that has some good stuff on futures and SPOOS. mrci.com The market wizard books are good. There are really a host of good books. I think most of what you would want to know could be offered by many on this thread as well. There is the link from Pat's profile that has all sorts of web sites as well. smotass.net 3. Are there online brokers with cheap commissions? I use Zap Futures and like them very much, but they are a bit more expensive than some others. Some others are linked from this site. sonic.net farrfutures.com pmbinc.com zapfutures.com Good Luck and ask away...... -Scott

To: CatLady who wrote (15782)	2/18/1999 12:08:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 44573

<Sorry to disrupt this thread with the Whiz Kid stuff, but Patrick brought it up....> I would not worry about that, I generally take care of my own mess. Sometimes Da Cat in da Hat steps in but all in all I take care of my own remarks. If Daniel has a problem then I suggest he take it to me. Frankly, my current concern is sending my eldest to RPI in the Year 2001 and then 2 boys after that on to wherever they decide to go to. I am hardly put out by an ambitious teenager. I think it's admirable that he is trying to do well. But until he is paying the freight then you can guess where my posture is on this. My kids are real bright too. I still write the checks.