Greetings!
I've been watching Matt O. Trade futures for awhile now. I have applied his Ichimoku Cloud, and RSI techniques to trading stocks and have found success. Two weeks ago, I was down about 4,000 total. I am quite satisfied with my comeback.
I want to take a shot at trading futures much like Matt does. They seem somewhat more predictable than stocks. I've had a TD Ameritrade account for a while now, and I recently decided to move money back into it. While I wait for the money to settle and get there, I have a few questions for those who trade futures with TD Ameritrade.
Specifically, I was curious what you entered when you applied to have a Tier 2 Options account at TD Ameritrade. I want to be able to trade futures for spring break, which is the week after the next. I will need my first application for Tier 2 Options trading to succeed and be accepted. However, I am not quite sure what they are looking for on an app. How did you get your futures account accepted?
Tips are appreciated!
For futures, it's better you open an account with a futures specific broker.i.e.- NinjaTrader, Stage 5, Global Futures, Amp Trading, etc... TOS has very high requirements on margin and deposits and you'll most likely not qualify for their requirements.
Thanks. If anyone else has suggestions please post.
Also re: Matt's system, it's risky for new traders so be forewarned. He mostly swings overnight and holds through large fluctuations. You will need a lot of capital in order to do his system successfully. Otherwise, you'll blow up easily. He's working with over 100k in capital. When you start in futures, it's better you just take little scalps until you can build a larger portfolio. At a min you should have $7k to $10k per 1 contract traded. Understand margin before you trade. It's very
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