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Newcomer - Hard schedule, what to trade?
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Newcomer - Hard schedule, what to trade?

  #1 (permalink)
Trading Apprentice
sao paulo/brasil
 
Futures Experience: Beginner
Platform: Ninjatrader 7
Broker/Data: Ninatrader
Favorite Futures: Futures
 
Posts: 2 since Nov 2014
Thanks: 0 given, 1 received

Newcomer - Hard schedule, what to trade?

Hi all, I am new to trading and also on big mike forum.

I started trading a while ago, and I am really enjoying it, but since I work 8 AM until 18 PM I really don't have much time to do day trading practice on my local stock exchange, and also I am not from the US, difficulting things a little bit.

So I came with the big idea of doing some offshore trading, waking up early and start trading on foreign markets.

I'v searched a little bit and found some nice brokerages, I like using the DOM with some orderbook, and have found that Ninjatrader can accept foreign accounts with a minimum of $1000 account funding, and also Tradestation with a minimum of $5000.

So my question is, what are the best instruments/future contracts to trade on, by best I mean, less risk for me a beginner to trading, I would prefer low tick values around $5 per contract or less.

By researching I'v found the NQ and the YM best options at $5 per tick, the ES is kinda expensive at start for me ($12.5).

I think I can't trade equities because I don't live in the US, so the solution for my problem is futures/indexes, correct me if I am wrong.

Any tips are welcome

Best regards.

Fabrício Miranda.


Last edited by fbmiranda7; November 17th, 2014 at 10:04 AM.
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  #2 (permalink)
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  #3 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,023 since Jul 2011
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From Brazil, I'd think the 6E(but still $12.5/tick) is tradeable as you can get some of the European session in the early morning hours. Trading the Japanese Yen 6J futures
could be done at late night for you although the yen doesn't seem as popular to trade anymore. (and kinda slow or unstable) Also, Forex can be something to look at for more variable scaled trading. (Forex equivalent of 6E is EUR/USD) MBTrading and FXCM now offer Ninjatrader compatibility. More info at this thread: https://futures.io/beginners-introductions/33873-better-trader-forex-futures-small-account.html#post451046
also this post on futures vs. indexes (vs. forex)
https://futures.io/beginners-introductions/33788-trying-learn-some-systems-daytrading-2.html#post452296


Last edited by Cloudy; November 17th, 2014 at 10:03 AM.
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  #4 (permalink)
Trading Apprentice
sao paulo/brasil
 
Futures Experience: Beginner
Platform: Ninjatrader 7
Broker/Data: Ninatrader
Favorite Futures: Futures
 
Posts: 2 since Nov 2014
Thanks: 0 given, 1 received

Hi, thanks for your reply, between 6E and NQ/YM, I prefer lowest tick value NQ or YM, and I have been in Forex, quite didn't like how the price moves also there is no order book/times & sales, I cant do the DOM the way I would like to.

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