I am currently trading e-mini s&p's. However, the cost of tuition into this market is getting hard to tolerate. If you open Oanda FOREX account, you can practice trading with very little money, with so little money in fact that you don't have to worry about going broke or anything like that. Also it's probably true that indexes are relatively hard to trade.
Trade on a simulator for a while. I traded on a simulator for 2 months and turned $40k into $80k the first month and then into -$100k in the second month. I learned a great deal more in the second month. I opened a real account and I've never looked back. You can learn a lot by trading on a simulator but you have to be careful not to throw caution to the wind. You have to use the same discipline you would with ordinary money -- easier said than done. They will let you use the simulator for 30 days. I asked nicely and they let me have it for 60. Good luck!! http://www.globalfutures.com/platforms/gst.asp
I did use a simulator for a while, I have to say that its never the same when your using play chips! When your trading your own money it forces you to be far more careful. However, I do think that everyone should use one for too reasons. 1. Get used to the capabilities of the software your going to use. 2. Get a feel of what your going to be doing before you jump in. The only problem is that in virtual trading land you miss out on the valuable lessons learned from loosing real money, unfortunately.
We have a nice young guy managing our Chicago office (located on the Goldman Sachs floor above the CBOE.) If you would like to meet with him for a chat, send me a PM with your phone number. Don
I made another tuition payment today. My days are definitely numbered. Am I an idiot for finding positive cues out of a day of losses?
Hi - I'm sure you've heard this before, but trading takes patience, skill, and the desire to never stop learning. Don't be trading with money and time that you can't afford to lose. Don't get in a hurry when trying to catch your stride - you need to find a style that fits your personality, and not try to squeeze your personality into someone else's style. Just my two cents.
I was Finance major from Loyola University Chicago oops uh - watch it there i think your doomed if you think you somehow deserve to make money trading cause of education and location. my advice - take it real slow - like go to work for someone in the cme building for at least three years. do what you have to do but if you dont take my advice you will end up working for someone else anyway. you have time - take it! mean while hoard your cash. mb
trade as small as possible. the goal, until you make money, is to survive, not worry about paying bills.