Futures trading

[kasun]

Hi,
I am looking into daytrading in australia. Very interested in trading futures because of potential opportunity to maximise earnings. Curious about options too but dont have much knowledge. Youtube has lot of videos,but bit sceptical in signing up for a training program.
Signed up at tradestation but havent subscribed yet,it requires to maintain $5000 in the account therefore I will have to keep putting more money to keep my position.
Whats the best way to go about getting in to day trading with a small account? Is there a way to find a mentor who could guide me through the process?
Any guidance is much appreciated. Thank you.
Kasun

 

[CanOz]

Don't pay for anything. Try to get as much 'stuff' for free. There is a ton of stuff available on the internet and here on ASF. Sort through the "Transition to Futures Trading Thread", there is quite a bit of good info there.

Take the free x_trader trial i just posted today, or a free NinjaTrader trial. Getting free intra-day data is a challenge for Asian markets.

There are no stupid questions, you ask me anything here or in PM. There are several real pro traders on this site, TH, SKC, etc., and lots of competent amateurs....

My personal advice is to get a free demo with a data feed and start putting in some serious screen time with a Depth of Market tool first. Charts can come later.

CanOz

 

[beachlife]

If $5000 is too much for you at this point then open a cfd account with less money and start learning by trading 1 cfd. That will allow you to trade and learn in what ever market suits your time zone.

Forget aussie options, there's not enough liquidity. USA options are better and cheaper if you really want to trade options.