'futures' and where to find them

[timsk]

Hi hhiusa,

Well to clarify, what amount would you recommend trading futures or CFDs with? Is a few thousand pounds truly sufficient? Since they are a more sophisticated product, do you think that the rule for day trading should apply to them as well and; thus, a $25,000 minimum.

Traders have to decide this for themselves. It would be inappropriate for me - quite wrong in fact - to dictate to others what they should or shouldn't do. Whenever this question crops up, I recommend members read this FAQ: How Much Money Does a Trader Need To Start Trading?

Could you tell me what types of financial instruments you trade? Which brokerage firm do you use?

I use ETX Capital - a spread betting firm - to trade the Dax and Dow.

You said that you trade the DOW in the afternoon.? Could you clarify what you mean by you trade the DOW? Are you trading the Dow Jones E-mini on the CBOT? Which of these below do you trade? I noticed that you didn't mention anything from the U.K. Is it because of stamp duty? Many people here are talking about the DAX. Is there a reason you choose the DAX above all other European markets?]

Blimey, I feel like I'm being interrogated here, lol! As per your first question, I recommend that anyone who's unsure which market to trade to read this FAQ: Which Should I trade - Stocks, Futures or Forex etc.? Personally, I just stick to indices as experience tells me that I'm lousy at multi-tasking and I can't keep track of numerous instruments simultaneously. But that's just me, others would get bored stiff if they traded just one instrument at a time. As with most things trading wise, it's horses for courses.
Tim.

 

[hhiusa]

Hi hhiusa,

Traders have to decide this for themselves. It would be inappropriate for me - quite wrong in fact - to dictate to others what they should or shouldn't do. Whenever this question crops up, I recommend members read this FAQ: How Much Money Does a Trader Need To Start Trading?

I have already started and know how much I need. I was not asking how much I should start with but how much you would recommend. I don't think it presumptuous for you to state an amount. You would not be dictating what they should do. Hopefully, they can think for themselves.

I use ETX Capital - a spread betting firm - to trade the Dax and Dow.

I was just curious why you choose the DAX and the DJIA specifically. Is there any reason you don't trade in the U.K.?

Blimey, I feel like I'm being interrogated here, lol! As per your first question, I recommend that anyone who's unsure which market to trade to read this FAQ: Which Should I trade - Stocks, Futures or Forex etc.? Personally, I just stick to indices as experience tells me that I'm lousy at multi-tasking and I can't keep track of numerous instruments simultaneously. But that's just me, others would get bored stiff if they traded just one instrument at a time. As with most things trading wise, it's horses for courses.
Tim.

I was not interrogating you. I am just curious because you are a staff member here and I would assume that that means you have some good knowledge. I currently trade stocks and forex as a means to trade internationally. What is the reason that you have chosen to stick to indices?

 

[timsk]

Hi hhiusa,

I have already started and know how much I need. I was not asking how much I should start with but how much you would recommend. I don't think it presumptuous for you to state an amount. You would not be dictating what they should do. Hopefully, they can think for themselves.

I don't like to generalise; what's right for one person won't be right for the next. It will depend upon trading style, trading objective, timeframe, trade size and stops placement etc., etc. Therefore, IMO, it's pointless to give a precise figure as no one size fits all.

I was just curious why you choose the DAX and the DJIA specifically. Is there any reason you don't trade in the U.K.

I live in the U.K. and trade here. If you mean why don't I trade U.K. indices, it's because I've watched the Dow right from the first day I started. It's what I know and like. The reason I looked at it initially was because the volatility is much greater (than on the FTSE 100) and there were more opportunities for my style of trading. Plus I could trade the evening session (7.00 - 9.00pm U.K. time) in the days I went out to work during the day.

I was not interrogating you. I am just curious because you are a staff member here and I would assume that that means you have some good knowledge. I currently trade stocks and forex as a means to trade internationally. What is the reason that you have chosen to stick to indices?

You are correct in saying that I'm T2W staff, but I'd advise against making any assumptions about my trading expertise. Actually, I'd advise against making any assumptions about anything or anyone when it comes to trading. I consider myself to be a minor expert in community forum politics but that's all. I'm certainly not an expert trader or market commentator!

Tim.

 

[Hittfeld]

Hi timsk,
wouldn`t it be helpful -even for some supercapitalised google wonderchild- to mention that IB`s initial minimum requirement of USD 10K is just ONE of many possible minimum amounts. Other possibilities are far less. That should be of interest for anybody considering to use IB for CFD trading only.

And there should be mention of tax advantages for US traders by trading futures - for UK traders
by trading SBs.

Regards

 

[hhiusa]

Hi timsk,
wouldn`t it be helpful -even for some supercapitalised google wonderchild- to mention that IB`s initial minimum requirement of USD 10K is just ONE of many possible minimum amounts. Other possibilities are far less. That should be of interest for anybody considering to use IB for CFD trading only.

And there should be mention of tax advantages for US traders by trading futures - for UK traders
by trading SBs.

Regards

Show me where IB offers you the ability to open an account with less than $10,000. I have not seen that option and would be curious to know where it is. google wonderchild? I have an account with them. There is no need to google. Why would you open account with less than $10,000 anyway?

CFDs involve a high amount of risk. Why would they be the only thing that you trade? Are you only trading one financial instrument at a time?

https://www.interactivebrokers.com/en/?f=margin&p=fut

Chicago Board of Trade