Accounts can be funded in multiple currencies and assets can be denominated in multiple currencies. Clients can trade a dizzying range of markets—from stocks on the Mexican Stock Exchange to futures on Italy’s Borsa Italiana. That’s because the margin between success and failure in markets can be paper thin—using the right trading platform can make all the difference. Some of those mistakes include making risky trades and trading more than you can afford. You must also remember that the cost of trade commissions will take part of the profits you make in day trading.

For example, say you bought one contract of December silver at $20.00 per ounce. With a bracket order, you could set a stop loss exit at $18.00 per ounce and a profit exit at $25.00 per ounce. That way, you’re attempting to limit your risk to $2 per ounce, while maintaining a profit potential of $5 per ounce. Optimus Futures’ customer service is available by phone, email, and live chat 24 hours per day and seven days per week. Their customer support knows exactly what to do when problems arise.

Can you trade futures with Fidelity?

Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. Round-the-clock trading gives you access to over 150 futures products with no hard-to-borrow or short sale restrictions. Today, about 98% of Eurodollar futures are traded electronically on the CME Globex trading platform. It is not entirely indicative of which market is the best for your day trading. Consider the following in choosing the best futures for day trading.

Interactive Brokers clients can trade global stocks, options, futures, currencies, bonds and funds all from a single platform. In theory you can trade futures with just $100 but in most cases this is not feasible due to the leverage and margin requirements involved in futures trading. While the initial margin requirement can be a small percentage of the contract’s total value, it is usually still higher than $100.

Speed, performance and reliability

Economic reports, major announcements, or geopolitical events can dramatically sway futures prices. This strategy necessitates a keen sense of timing and understanding of news impacts on markets. It best futures for day trading also entails risks like market volatility and swift shifts in market sentiment. AMP Futures is a futures broker specialized in providing access to more than 60 futures trading platforms to clients.

The 5-year T-Note futures are offered by the Chicago Board of Options Trade (CBOT) and are standardized. The 10-year T-Note futures track the underlying cash market of the 10-year Treasury note issued by the U.S. To this point, I am going to provide a detailed overview https://www.bigshotrading.info/blog/best-futures-to-trade-how-to-pick-a-futures-contract-to-day-trade/ of each highly liquid contract. You can use this list as a starting point to determine which contract best meets your trading goals. This high liquidity provides you the investor somewhat of a safety against sharp price movements and market manipulation.

Best Online Broker for Trade Execution

It is a popular market for long-term traders and institutions, not day traders. View a one-minute chart of this futures contract, and you will see that it doesn’t move much, thus not favoring day trades. Similarly, foreign exchange trading can be accomplished with pass-throughs to FXCM. Live futures trading on NinjaTrader, however, requires a data subscription that, while inexpensive, still represents another cost to the trader.

You can use a trend indicator like moving average to identify where the trend is about to end. All expressions of opinion are subject to change without notice in reaction to shifting market or economic conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Once you’ve found a strategy you’re comfortable with, you can slowly increase your order size.

A simpler way of measuring volatility is by averaging the bar range. Standard deviation is a statistical measure of dispersion from the average. Its most popular use in technical analysis is in the Bollinger Bands indicator in which we displace the bands by a multiple of the standard deviation.

Due to legal restraints (CEA Section 8 data and confidential business practices), the CFTC does not publish information on how individual traders are classified in the COT reports. You’ll need to cover the broker’s fees, plus regulatory and exchange fees. In addition to that, your broker may have other requirements, such as a certain amount in your margin account. Our partners cannot pay us to guarantee favorable reviews of their products or services. Thinkorswim has one of the most complete sets of tools for analysis. You can access the platform via the web or by downloading the desktop app.