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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 :-)
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...
I do not think that it is realistic for a beginner to trade E-Minis. E-Minis is one of the most competitive market places in the world, and as a beginner you can only lose out between the number of well-trained professionals. Also the leverage available …
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!"
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
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.
