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I've been sim trading for a few months now and I can somewhat consistently make my daily goals. However I can only trade part time. That is, early morning before until 9 AM mountain time or after 6 PM mountain time. On the occasion I can't make my goal before 9AM I am able to recover with another hour or two.
My question is, what could I trade after before 9AM or after 6PM that has the required liquidity and volatility to make $100 ish for the day? I am open to anything but stocks, since I will start with $5000.
In short, I feel I am trading consistently well but need to switch to trading the time frame I have sufficient time for while I day trade part time.
Thank you!
Can you help answer these questions from other members on NexusFi?
Most beginners abandon a lot of their equity even if they survive the first year without shredding their accounts.
So let's start with some math - which obviously isn't the domain of many rookies:
1 year has about 220 trading days.
Making ~$100 per day would net ~$22000 per year, i.e. more than quadrupling your meager equity of $5000.
Thus I'd suggest you first learn (much more?) about trading before you dream about stellar returns. FIO is a good start for that.
P.S.: For day-trading stocks your equity is too small anyway since PDT rules demand $25000+.
Thanks for the advice. Like I said, I am new and have been sim trading, but sometimes during time frames where I would not be able to trade in real life. If I'm going to learn, I need to be able to practice and learn and become familiar with how things behave at the time frames I will be able to trade in real life. For example, I've been practicing with the NQ, and there are key times in the morning, at noon and at the end of the day where volume spikes dramatically. Another way of saying this is, what are instruments have a reasonable amount of volatility between 6 PM and 9AM Mountain time, that I could look into??
