TRADING TIPS

Question from Jake About Trading Futures

Hubert Senters here. Let’s take a look at the markets. Before we do. Let’s tally up so Amgen versus Starbucks yesterday. Amgen one. Starbucks came in second. So let’s see how that kind of shapes up. Got a question today instead of looking at the market says Hubert. I’m 34 years old and I’ve been trading about three years. Long story short, I only have 2k to put toward futures at this point in time. I know that limits down to only a few futures I’d be able to trade. Would I be better off to wait until I have more money to invest? Or is it worth while to try to grow an account with only 2k. What would be realistic? Thanks, Jake. So Jake I would start now. I mean you’ve got a lot of volatility which could either be a good thing for you or a bad thing for you. The reality of the situation is you’re probably going to lose the 2K. As long as you’re ok with that you’re paying your education. The one thing I would do in order to make the 2K lasts longer is I would try to figure out which contracts suits your personality well. Or you don’t like the violence of the crude oil market and coffee or are you going to like index futures and if you like index futures which one? Is it going to be the Dow, the S&P, the Nasdaq, the Russell? Or if you’re not going to do that are you going to trade corn? Are you going to trade interest rates products? So I would start take your 2K and right now I would say over the next two or three weeks figure out what market you like watching and demo trade it for a few days to few weeks. And just play around with all of them because there’s a ton of different markets. For instance let me walk you through s couple. So I mean you can trade the indexes that could be the S&P that could be the Nikki, Nasdaq, Russell, Dow. You could trade the Eurostoxx50. I like that one. You could trade the DAX. A little bit more violent. I’d probably stay away from that. The bund when it’s trending it’s a nice instrument to trade. The 30-year or the 10-year that’s also a decent instrument to trade. When they’re trending right now they’re not trending are you going to go towards Gold? Which Gold is a little crazy right now. But it’s a good thing. It’s 38 points today. On that $2,000 account you could trade it to one lot and you could have made $3,800 bucks today. But you had to take anywhere from you don’t have to risk about $600 of that $2,000 account to turn that account into another $3,800. But if you’re wrong you lost the $600. It really depends on stylistic approach like what you like to trade. I would go through all of these so you go indexes, interest rates, metals, energies, the meats, the grains, the softs and start working your way through that then after then you can start whittling away and try to figure out how to turn that $2,000 into more money. But the stock reality is more people lose money trading anyway. You’re probably going to lose $2,000. I’m just giving you real math that will probably increase you survive a little bit and maybe put the odds in your favor by picking something that you actually like to trade that you have a good feel for or it’s a good fit for your personality. I’m going to HYPERLINK you guys to Mark’s webinar that is tonight at 8PM on Gold. Good luck. Hope it helps. See you on the next video. Hubert.

1 Comment

  1. Jake Hearnsberger

    Thank you Hubert.

    Reply

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