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best instrument for new traders
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best instrument for new traders

  #11 (permalink)
Elite Member
London
 
Futures Experience: None
Platform: .
Favorite Futures: .
 
Posts: 164 since Apr 2011
Thanks: 46 given, 109 received

If you are a new trader you should not be trading futures and or forex really, instead you should be trading ETFs such as SPY, DIA, IWM and QQQ for example.


Last edited by mrphr; February 1st, 2014 at 05:22 PM.
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  #12 (permalink)
Trading Apprentice
kuwait city
 
Futures Experience: Beginner
Platform: ninjatrader mt4
Favorite Futures: fx
 
Posts: 16 since Oct 2011
Thanks: 274 given, 7 received

micro lots in forex .. to get start ..

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  #13 (permalink)
Trading Apprentice
Porland, OR
 
Futures Experience: Master
Platform: NinjaTrader
Favorite Futures: Highly leveraged OTC Derivatives
 
Posts: 6 since Jan 2014
Thanks: 0 given, 7 received



mrphr View Post
If you are a new trader you should not be trading futures and or forex really, instead you should be trading ETFs such as SPY, DIA, IWM and QQQ for example.

Really? What if a new trader has less than $25K and wants to catch intraday moves?

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  #14 (permalink)
Elite Member
London
 
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Platform: .
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Captain Howdy View Post
Really? What if a new trader has less than $25K and wants to catch intraday moves?

Really; If you are a new trader/newbie [who most likely do not understand what he is doing] you should not be trading intraday.

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  #15 (permalink)
Silver bullet
Kassel / Germany
 
Futures Experience: None
Platform: MC
Broker/Data: IB
Favorite Futures: ES
 
PK 1's Avatar
 
Posts: 54 since Aug 2011
Thanks: 113 given, 36 received


eagle75 View Post
micro lots in forex .. to get start ..

thats the advantage of the forex. One can start with very small money to see howit goes, to get a feeling, develop your strategies, indicators, whatever. More or less many marketmaker there but it should not for archieving big money just to get experience. Starting with futures or even stocks this is not possible. Don't come up with pennystocks.

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  #16 (permalink)
Trading Apprentice
Porland, OR
 
Futures Experience: Master
Platform: NinjaTrader
Favorite Futures: Highly leveraged OTC Derivatives
 
Posts: 6 since Jan 2014
Thanks: 0 given, 7 received


mrphr View Post
Really; If you are a new trader/newbie [who most likely do not understand what he is doing] you should not be trading intraday.

Why not?

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  #17 (permalink)
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Posts: 164 since Apr 2011
Thanks: 46 given, 109 received


Captain Howdy View Post
Why not?

I am going to answer you question with another question; Why do you believe that a new trader/newbie should trade high leverage markets such as futures on a small account and on small intraday time frame?

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  #18 (permalink)
Elite Member
Portland, OR
 
Futures Experience: None
Platform: tos
Favorite Futures: NQ, SB, 6J, CL, GC
 
Massive l's Avatar
 
Posts: 1,458 since Mar 2011
Thanks: 922 given, 1,822 received

Sim trading NQ, YM, ES, 6A, 6C

1 lot scale in (2 lot total) - Scale out.
Lock in profit first to lower you risk or eliminate most of it
when the trade starts going your way. Let the second
one ride to your target without worry if it comes back.
Practice that over and over and over again.

Psychology > Strategy ≥ Money
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  #19 (permalink)
Trading Apprentice
Sherman Oaks, CA / USA
 
Futures Experience: Intermediate
Platform: Rithmic / OEC
Broker/Data: Cannon Trading Company / Ninja Trader/Rithmic, E-Futures trading platform
Favorite Futures: Gold and Crude Oil
 
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Posts: 46 since Dec 2013
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Massive l View Post
Sim trading NQ, YM, ES, 6A, 6C

1 lot scale in (2 lot total) - Scale out.
Lock in profit first to lower you risk or eliminate most of it
when the trade starts going your way. Let the second
one ride to your target without worry if it comes back.
Practice that over and over and over again.

I totally agree. Definitely sim trade those markets. You'll see the most liquidity there. Also the strategy suggested is a pretty good one too, practice with your profit targets and stops you have in mind and make sure you stick to it. Don't you exit too early or too late, your emotion takes over, make sure to trust your stops and profit targets. Just don't get stuck in sim trading. I have a friend and that's all he does. I think sim trading becomes a waste of time after you have your strategy down and you know it. You eventually need to move to live trading.

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  #20 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
tturner86's Avatar
 
Posts: 5,784 since Sep 2013
Thanks: 9,849 given, 11,160 received
Forum Reputation: Legendary


Sim trade for two months the go live with M6E. $1.25 a tick, avg stop is 10 ticks. If you have a $2000 account and only willing to risk 2% per day, that allows you two trades in M6E. Also because of smaller tick it will require you to look for swings instead of scalps.

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