Semi Loaded question, due to every market being different and every traders expectations and experience is unique. Honestly if your doing discretionary trading, then I would suggest sticking with instruments with low tick values so Spot Forex, or micro Currency Futures. Of course practice on SIM first in these areas but it is the easiest way to take a few hundred bucks and get a lot of practice out of it, instead of trading larger futures or options where you will need a much larger account just to stay afloat. If your doing algorithmic trading, the availability and cleanliness of historical data is going to be more important. So that kind of nixes out spot forex completely since every broker is posting a different market.
There are also regulatory and structural differences between each instrument for example day trading minimums for stocks, high leverage in options and futures, and the fact that spot forex is OTC and regulation is slim IMHO. not to mention most brokers are going to bucket your orders since your a small fish, not really ever going to interact with the interbank.
Do your homework, and give everything a try on sim to "play around". Then when you start with your initial capital keep it small and play in things where you can survive a long time and learn. This is where the small tick size comes in handy.
The following 3 users say Thank You to treydog999 for this post:
That's a tough one, the toughest actually. Even most forex pairs associated with the Asian session are pretty lackluster in that time-frame. Keep your eyes open though, sometimes there are some nice patterns. Still do try forex my man.
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.
The following user says Thank You to Skeptical for this post: