NexusFi: Find Your Edge


Home Menu

 





Which is best market for novice?


Discussion in Psychology and Money Management

Updated
      Top Posters
    1. looks_one allysius2005 with 2 posts (0 thanks)
    2. looks_two Big Mike with 1 posts (0 thanks)
    3. looks_3 Bookworm with 1 posts (0 thanks)
    4. looks_4 quantismo with 1 posts (2 thanks)
    1. trending_up 2,911 views
    2. thumb_up 5 thanks given
    3. group 4 followers
    1. forum 11 posts
    2. attach_file 0 attachments




 
Search this Thread

Which is best market for novice?

  #11 (permalink)
flewis777
San Francisco, California, United States
 
Posts: 7 since Aug 2012
Thanks Given: 1
Thanks Received: 1

I have a Spot Forex micro account I use to test strategies that I will eventually use for the YM emini Dow ($5 / tick)
market. In a Micro Spot forex acct I get gains / losses of $5 and when I get a system that seems to work I take it up the next level to the YM.

Another way is to download Ninja Trader and use the Market replay to trade your system without risking real money. --Fred

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Exit Strategy
NinjaTrader
Deepmoney LLM
Elite Quantitative GenAI/LLM
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
NexusFi Journal Challenge - April 2024
Feedback and Announcements
ZombieSqueeze
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
38 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
GFIs1 1 DAX trade per day journal
19 thanks
The Program
18 thanks
  #12 (permalink)
 
quantismo's Avatar
 quantismo 
Waco TX.
 
Experience: Advanced
Platform: retired ...maybe
Trading: anything with the slightest edge..
Posts: 242 since Jul 2011
Thanks Given: 335
Thanks Received: 176

If you have a $5000 dollar futures account and you are dying to start trading live , you have about a 99.99999999 chance that you will blow that account up. Then you may try it again , and even a few more times and after about 20 grand in the hole you will start to get that its pretty much not possible with that small of account.
Now for a person that has been up and running profitable for a while they could start out with that small off account.
Now on the other hand if you opened up a forex account at Onanda or MbTrading(where I have mine) you can make that same $5000 account last your whole trading education and maybe even make some money... because you can trade much much much much ..... smaller size trades without blowing your account out in a few days or weeks .

Basially I agree with what MR.YOU said in his post too...and..

I suggest get a Forex account and just trade small micro lots of 3000 to 6000 which equalls 30 cents to 60 cents a pip
forget what everyone says about risking nore more then 1% that will blow out a new traders account for sure. You can risk much less than 1% with the micro forex and stay in the game a hell of alot longer when learning.
Quantismo

Reply With Quote
Thanked by:




Last Updated on July 14, 2013


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts