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Cheap market to trade?
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Cheap market to trade?

  #11 (permalink)
Elite Member
Italy (IT)
 
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MetalTrade View Post
Forex.

You can get mini trading ($1 per tick) or micro (0,1$) per tick.

You can open an account at PFGBest for $1000 and trade the mini forex.

Dukascopy is better but I think the account size must be bigger. They used to have only 100k accounts but they dropped that lower.

Let us say that you PFGBest is not best but best of the 'crook brokers' out there.

You could also forget that forex stuff and trade the mini futures.

Dukas min account is $1000, forget FX mini and micro future for now unless you are a swing trader, there no enogh liquidity for other purposes.

Take your Pips, go out and Live.
Luke.
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  #12 (permalink)
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LukeGeniol View Post
Dukas min account is $1000, forget FX mini and micro future for now unless you are a swing trader, there no enogh liquidity for other purposes.

Luke, I personally traded mini myself in the beginning and the liquidity is not a problem at all, there are always instant fills. The brokers just take a pip off for commission :-)

I don't have experience with micro though.

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  #13 (permalink)
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Fat Tails's recommendations to this regard are insteresting:

In the beginning, I would suggest not to use leveraged instruments, but to start with liquid stocks or exchange traded funds (ETF). It gives you the same feel for the market and the same technical rules apply...

https://futures.io/beginners-introductions-tutorials/5363-what-should-beginner-learn-trade-first.html#post74026

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  #14 (permalink)
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Forex moves differently and behaves differently than futures. The games are not the same in my opinion, but my assumption is that the person wants to trade futures.

Also, Nano lots, .001 (dependent upon currency) or a penny per pip is also a good start.

Best brokers for Nano's in my opinion are GOMarkets (if not American) and IBFX (if American).

Good luck and disagree that SIM is worthless. It is only worthless if you treat it that way. Much like your money.

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  #15 (permalink)
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bluemele View Post
Forex moves differently and behaves differently than futures. The games are not the same in my opinion, but my assumption is that the person wants to trade futures.

Also, Nano lots, .001 (dependent upon currency) or a penny per pip is also a good start.

Best brokers for Nano's in my opinion are GOMarkets (if not American) and IBFX (if American).

Good luck and disagree that SIM is worthless. It is only worthless if you treat it that way. Much like your money.


I understand what you are saying, but no matter how much I tried to pretend SIM was real, in the back of my mind I knew it wasn't and I would invariably do things I would never do in live trading, like doubling down.

The bad part is, if you are successful doing bad things in SIM it reinforces bad behavior.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #16 (permalink)
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trendisyourfriend View Post
Fat Tails's recommendations to this regard are insteresting:

In the beginning, I would suggest not to use leveraged instruments, but to start with liquid stocks or exchange traded funds (ETF). It gives you the same feel for the market and the same technical rules apply...

https://futures.io/beginners-introductions-tutorials/5363-what-should-beginner-learn-trade-first.html#post74026


That is how I started out. But, the only drawback is that to day trade ETF's you will need a 'pattern day trading' account, and that is a minimum of $25,000

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  #17 (permalink)
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monpere View Post
That is how I started out. But, the only drawback is that to day trade ETF's you will need a 'pattern day trading' account, and that is a minimum of $25,000

I agree, that's quite a bit of money to put in prison to take smaller positions.

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  #18 (permalink)
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YM is good for learning

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  #19 (permalink)
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ThatManFromTexas View Post
I understand what you are saying, but no matter how much I tried to pretend SIM was real, in the back of my mind I knew it wasn't and I would invariably do things I would never do in live trading, like doubling down.

The bad part is, if you are successful doing bad things in SIM it reinforces bad behavior.

Agree. It was for me also for a long time. I had other traders tell me the same thing I say now. I disagreed also.

My problem is that I get MORE aggressive w/ real money as GREED seems to be the motive. haha.. Like trading 10 contracts a trade when I am not that good.

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  #20 (permalink)
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At MB Trading you can open a forex account for $400 and trade 10 cent pips or open the account in other currencies.

Choice of platforms too including Metatrader, Ninjatrader or one of there own platforms. A good place to start out:


MB Trading - Stocks Options Futures Forex Online Discount Trading

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