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Does a rookie have to start with CFD before futures?
If you want even more ability to fine-tune your risk, then forex is the obvious choice IMHO... but yeah, M6E is a great proving ground for sure and what I started with.
this is not advice....just what i would do if i asked the question
(btw life has no proxies....likewise where ther is real $s involved...especially trading it has no proxies)
if you really think of trading something in the future....dont do this proxy thing.
forex has no volume...as far as i know. once u can trade one instrument u can trade them all. its matter of risk control for most part between instruments...however forex has risk. hence any instrument which has good volume....one should trade that....something which moves the market. ES NQ where one can see volume plays coming...also CL though CL is crazy it respects volume.
As @paps mentions - you will burn your fingers. Why?
Forex is a playground for countries - each currency is connected with the mass of the rest of the market. Some middle intervention of just one player will push you out of any position. Because it is not a closed market...
Forex is good for hedging - means if you do a real world business and you want to protect your values (just like for import or export goods) you may take a hedge position in forex market to protect your risk.
Otherwise I recommend to trade just ONE market - but that one you learn inside out and then drive it blindly. ETF, CFD et al are like the real (but normally more expensive) futures. The latter have more leverage - thus you need a good money management and of course much more cash at the broker to move just one position (especially overnight).
I recommend to watch basics like:
• do I trade just intraday or holding positions overnight
• have a market that is open when I have time to trade and watch
• having the ability to see the traded volume real time
• getting a broker with low charges - but transparent margin conditions
and more
Just read in the journal sections about the experiences fio members made on a market that might interest you.
For me CFD is a must, because there is no way I could save 10.000$ or more just to begin to trade. Now imagine in Europe were most of the countries monthly salaries are on average 800$ after tax, how can someone begin to trade? I trade CFD products but all of my decisions are based on futures markets (Crude, Dax, ES, Euro,..). Cfd brokers charts are garbage stay away from them, only my advise.
Thank you for your answer. In fact my idea is to trade initially CFD but using for analysis a professional platform (i.e. sierrachart or similar and proper data feed of futures market) and then put the entry order on CFD Broker platform (possibly a quite reliable broker, I'm considering IG, AVATRADE, ACTIVETRADES etc.). Given that there is a spread, even though it can be fixed, and that anyway the prices are not exactly the same of regulated future markets, I think scalping is to be ruled out. After experiencing with real money than I would move to futures market, already with the proper knowledge of the platform (in particular order flow and volume analisys, especially concerning the latter I'm studying the huge textbook of the italian Antonio Lengua, that is very good).
