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I first day of learning how to trade starts today! I'm very excited about my new adventure.
My first question of many many questions that I have to all of you guys is that I Understand that NinjaTrader is the Platform of choice and so which broker should I go with? I want to start off on the right foot!
After choosing the Platform and Broker to use, where do I go from there? What is my first item on the list that I need to start off learning?
Thank you so much
Can you help answer these questions from other members on NexusFi?
Good luck on your new adventure. A piece of advice: don't pick a broker just yet. First and foremost: Spend your time learning before simulating or doing anything with brokers or real money. Figure out what type of person you are and a trading method that suits your person and situation . Spend your time reading this forum and watching webinars. It's the best resource there is. You'll find all the resources you need. Big Mike has a few suggestions for newbies. a free license from NT and free EOD Data or a small invest in real time data to study and develop an edge is all you need at first. This racket is all about you vs you so being prepared is critical before pressing a button in real time.
One thing you will then learn real fast is that different people, many of them successful traders (although some are just salespeople ), may have completely different ideas about how to do it.
Then your real task will begin... finding what makes sense to you, and what you can use profitably. It will be different in some ways from what anyone else has done.
I recommend that you start by using tradingview. Its totally free and you have access to a wide variety of markets. Forex is realtime but futures data is delayed by 10 min. To answer your question, you should start the process of learning the various indicators and how they work (stochastics, RSI, Volume profiles, bollinger bands to name a few), try a few different strategies (moving average crossover strategy is a popular starting point), start learning the lingo etc. You also want to figure out whether you prefer fast markets or slow markets and if you have the personality to hold trades for days or if you prefer getting in and out.
Dont rush into choosing a platform. Demo a few first before committing. Multicharts, Sierra, Ninja and tradestation I think are some of the most popular on this site. Perhaps start with those.