Go Futures?

i am young and interested in the markets. i am looking for the lowest rates i can find for trading the eminis and currency futures. does anyone have any suggestions? i saw that go futures has .99 commission? is there any truth behind it? anyone have an account there? any help would be appreciated. thanks

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Originally posted by 22andtrading

i am young and interested in the markets. i am looking for the lowest rates i can find for trading the eminis and currency futures. does anyone have any suggestions? i saw that go futures has .99 commission? is there any truth behind it? anyone have an account there? any help would be appreciated. thanks

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I'm sure that Go Futures charges $0.99 - it's probably true - but remember that what you see is often a "marketing hook." They probably mean that they charge $0.99 per side per contract and then there are exchanges fees and taxes on top of that. So their commission is $1.98/round trip per contract and then add fees. All brokers will have to charge the same fees which are charged by the exchange so it is fair to compare only the commission portion.

Have you done any paper trading yet? What trading strategy do you plan on using?

Well the round turn for the eminis sp russel and nasdaq is 4.30 with everything and currencies is 6.08 in and out. Is this a good rate? Well im young and im trying to chart and run with the trend to start and get a feel for the markets. . . anything i should research for beginers? should i go with this company with these rates? i think its cheap. any input is great thank you

$4.30 round-trip for the eminis is a good rate. What do they give you with that? Do you get a stand alone trading platform like J-Trader or is your order entry system web based?

Can you run a demo/simulated account with them before you trade real money? Have you traded a demo/simulated account before? Do you think that you should before you trade real money?

You need a plan: What do you do when the market goes against you? What's your stop size? What are your entry rules and what is your target? What is your expected win/loss ratio and how did you calculate that?

I don't want to put you off trading but I want to make sure that you stay in this game long enough to learn the dangers without risking your capital and only enter when you have a strategy that will turn a profit.

If you're just going to buy on a whim then you have a 50/50 chance of winning and that adds up to a negative sum game because of commissions and other trading expenses.

If you're 22-years-old and starting to trade then you "could" have a great trading career ahead of you but not if you blow all your capital at the start. Make sure that you can sim-trade profitably before trading real money.

Ask more questions here before trading real money...

real time quotes real time charts. their web based and a FAST desktop version. they do have paper trading. the system looks good and has everything I need.

ya i plan on going in with specific entry points, stops and limits according to what i see the market doing i guess. anyone on here trade with Go?

Here are a couple of other threads on the forum that talk about Go Futures and Discount Brokers:

Go Futures and Discount Brokers

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Originally posted by 22andtrading

ya i plan on going in with specific entry points, stops and limits according to what i see the market doing i guess. anyone on here trade with Go?

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I have not used gogo. How are you doing with your trading plan? I am also working on a trading plan at the moment but I got stuck on the entry rules so I started working on money management and exit rules but getting stuck there as well.

What tools/methods are you using to create your plan?