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Markets for beginners?
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Markets for beginners?

  #21 (permalink)
Elite Member
Chicago, Il
 
Futures Experience: Master
Platform: NT, CQG, Bloomberg
Favorite Futures: US
 
Posts: 64 since Apr 2014
Thanks: 11 given, 41 received

For a beginner, you have to figure out what kind of trader you want to be, intraday trader or longer term trader. just because you can trade a ES futures with $400 intraday margin doesn't mean you should if you don't know the risk involved. it can move that amount very quickly if someone opens their mouth.

As a beginner one of the thing you have to get used to is order entry. just the simple, clicking and entering your order, getting used to it without f-ing it up by buying when you should be selling or placing a stop instead of a limit and getting filled. if you are doing that in a fast moving market, you can easily find yourself a few hundred buxs offside before you realize it.

Trade 2-year notes, Eurodollars (the interest rate), but they don't move a lot, but they can trend nicely and getting in and out is not a problem generally.

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  #22 (permalink)
Trading Apprentice
Rotterdam Netherlands
 
Futures Experience: Beginner
Platform: Plus500
Favorite Futures: DAX
 
Posts: 4 since Mar 2015
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I still fall under a beginner trader. I started first trading eur/dollar because I was just very interested in it. Blow up my first money quick but it was a nice learning experience.

Currently I am trading CFDS at the DAX a index market that moves a lot its a nice market but a veteran trader also motivates my cause he made a lot of profit on there and he give some tips time to time.

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  #23 (permalink)
Trading Apprentice
miami/usa
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: Thinkorswim
Favorite Futures: Options 99% of trades, Forex, Futures, Gambling Nadex 1% :)
 
Posts: 14 since Jul 2014
Thanks: 2 given, 8 received


I would say trading Options might be a little better.. Place trade and watch it and not worry about massive swings.

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  #24 (permalink)
Membership Temporarily Revoked
Sharm El Sheik/Egypt
 
Futures Experience: Beginner
Platform: Think Or Swim / NADEX Pro Trader
Broker/Data: TOS - Datafeed
Favorite Futures: NADEX - EUR/USD, AUD/USD 5 Min Binaries
 
TheNewGuy's Avatar
 
Posts: 10 since Jan 2015
Thanks: 6 given, 4 received

Hello Gabe


IsGabes View Post
As a beginner is one of these markets generally better for beginners to start learning & trading:

Forex
Stocks
Futures
Options
Other

I am trying to gauge what direction to start my learning in.

Thanks!

I am learning to trade too, I was researching all these different markets. The $25k requirement kept me out of Stocks. First I wanted to trade Futures but got scared away, then looked at Forex but I realized the brokers are trading against you.

Then when I was reading an article on TradingPub.com, I watched a video about a NADEX trading strategy. I found out its binary option trading, so initially I thought oh that's a scam. Then I did more research on it, the more i read the more I liked it. They are US based in Chicago and regulated by the CFTC. Its an online exchange so you trade directly on it (no broker needed). Funding a $100 account buys you seat on the exchange. Low trading fees of $0.90 or less per contract, $9 max fee per order. So anything above 10 contracts is commission free. If you lose the trade you DON'T pay the settlement fee either.

You aren't trading against the house like in Forex. And your not trading against the hedge funds or HFT traders. The volume on Nadex is relatively small right now so the big boys stay away from it. But its growing. They just opened the exchange up from 3 countries to 47 so volume should increase! That means tighter spreads and better trading.

you can trade the major indices like ES, TF, NQ and YM also commodities, metals. and forex. you risk is capped at $100 per contract.

I think its a great place for new traders to start.


pm me if you want more info on learning NADEX

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  #25 (permalink)
Membership Temporarily Revoked
Sharm El Sheik/Egypt
 
Futures Experience: Beginner
Platform: Think Or Swim / NADEX Pro Trader
Broker/Data: TOS - Datafeed
Favorite Futures: NADEX - EUR/USD, AUD/USD 5 Min Binaries
 
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Posts: 10 since Jan 2015
Thanks: 6 given, 4 received


Skeptical View Post
Hi Itcymoku,

Presently looking at Open Trader Course. So many mixed opinions. I most likely won't do it. Plus i hear in the trade room one of the guys Awais is never trading live, just putting zones up and a daily plan to trade from. Huge difference from live trading.

This is what little i know. Most people in the northern hemisphere prefer to trade the ES. This is ok, but means I am trading the night session. So what i am thinking is having a look at indices like the Aus 200, Nikkei etc. So i guess i need to figure out which is most liquid in the Asian session.

Am trying to keep away from spot FX. Mostly due to the fact I am learning Volume Profile etc. Plus the FX market has no central exchange.

Cheers for your reply.

@Skeptical See my reply to Gabe detailing the NADEX exchange

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  #26 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
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US Bond Trader View Post
For a beginner, you have to figure out what kind of trader you want to be, intraday trader or longer term trader. just because you can trade a ES futures with $400 intraday margin doesn't mean you should if you don't know the risk involved. it can move that amount very quickly if someone opens their mouth.

Curiously, there is little discussion of developing trading plans, the first task being deciding what kind of trader one wants to be. If one doesn't know what one wants, much less how to go about getting it, it is likely that he will end up with something that is very different from what was expected.

And one can develop a trading plan without risking a dime (see attached).

Attached Thumbnails
Markets for beginners?-21developing-plan.pdf  
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