Futures or FX?

Discussion in 'Trading' started by futdaz, Nov 8, 2009.

  1. futdaz

    futdaz

    Hi,

    What is easier to trade for a newbie?

    I have downloaded a futures demo but it is quite complicated to work? Are FX accounts the same or easier to work around and trade?
     
  2. download a MetaTrader 4 demo, many fx brokers provide them, Alpari New York/UK
    once you've learnt how to operate the software you can demo trade, say 3 months
    while monitoring fx forums, trying indicators and trading systems, then open a micro
    account - they start at $10 and see how you get on trading real money

    futures day trading margin is $500 per contract, minimum $2,000 to open an account
    but overnight the per contract margin increases to $3,500 so fx is good for long term
    trading since the margin doesn't increase and futures - 6E Euro fx is best for day trading

    you WILL get killed trading futures when you don't know wtf you're doing
     
  3. futdaz

    futdaz

    appreciate the advice, have you got any reccomendations for coaches out there?
     
  4. FXPimp

    FXPimp

    If you are a new trader, then i recommend fx, but do your homework and get a good currenex account. the retail platforms in fx are not very good for intraday trading. if you are a swing trader, then retail platforms are fine
     
  5. craig

    craig

    Pring on price patterns by martin pring

    Trading in the Zone by mark douglas

    The new market wizards by jack swager

    Japanese candlesticks by steve nison

    read all of these books first and apply both the Technical and Psychological side from these books.

    You will at least have a fighting chance!
     
  6. oraclewizard77

    oraclewizard77 Moderator

    Well. it also depends on your account balance. But if you are just trying to learn trading, and have a small balance, then forex is fine.

    If you have a large account balance, plan to do this for your living, then I would trade futures or stocks using a prop shop.
     
  7. futdaz

    futdaz

    Do you not need like $100k to open a currenex account?