Hey everyone, As a new trader, I've been talking some time to study and develop a good foundation for successful trading. I've been thinking for quite some time now about this particular question, "how do I discover my personal trading style and the instrument I want to trade?" I know there are so many options to trade from equities, options, forex, crypto, and more. There are different time frames to trade on as well from short term scalping to long term investing. It makes it hard to figure out a good starting place. Any suggestions? Thanks!
It would help to know, your education, your age, do you have a full-time job, can you afford to lose to learn, do you have programming skills, etc.
ronnym789, I just read this post from last month, "I do have a steady source of income from my military service and on top of that, my wife works. I'm in a position to consider trading part-time even though I don't have a large amount of capital to work with." I'd like to help you if I can, but not this way, Give me a call one day. Bob
One possibility is to start a sim account (a.k.a. paper trading account) and try out a variety of trading styles. Just play with it, using various trading strategies you have read about. It will teach you what trading style goes too fast for your liking, or too slow for your liking. Do this same trading experiment with both a very liquid ETF, e.g. SPY, and with futures, e.g. ES, and see how much your account value fluctuates. This gives you an impression about the value volatility and will show you what level of volatility you feel comfortable with.