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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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.
Favorite Futures: NADEX - EUR/USD, AUD/USD 5 Min Binaries
Posts: 10 since Jan 2015
Thanks: 6 given,
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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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).
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