It took me roughly 5 years to transition completely from scalping/day trading to longer term momo/trend trading. If it isn't for you then it's a great decision but just know it takes quite a long time.
Equities are harder. Even if you do pure TA, there is just too much to try to deal with. Futs are easier to stay focused with, easier to trade. I'm not the only one here saying this.
Edge is inversely-proportional to liquidity. Find a market with acceptable edge and liquidity. Equity markets are fish in a barrel in the small caps, but you can't hope to maintain edge when scaling. FX offer fantastic liquidity, even with obscure OTC structured product; albeit full of noise and the volatility occurs in an instant. Very difficult market to game.
The toughest part about being a retail trader I think is they(we, I) all start out not knowing what the heck they're doing. Then spend years searching and trying out methods that aren't valid. Once in a while they stumble onto a valid method and may actually discard it because they don't know what to expect from a valid method. I would imagine many quality individuals go belly up for lack of a qualified manager or boss not validating a method and defining parameters that the traders need to adhere. Once even a retail trader has defined a valid method along with trade and risk parameters and is committed then he really is a trader(pro) and will have to deal with actual trading obstacles. The difference being that the pro can make progress where as the retail trader fumbles trying this that and the other on a roller coaster of failures and successes that generally lead to a breakdown in discipline and risk control and blowout. All the best spy, good luck.
hi acerbits other than ES and CL, whats the others that you trade? also, i know its non of my biz but what sort of size range is your total portfolio cheers
If you are having discipline problems trading stocks, then they are only going to be 10 times worse if you start trading futures. I suggest that you start trading spy or dia and if you can be consistent with one of them, then switch to ES or YM.
Look at TBonds, especially options. DO NOT TRADE PORK BELLIES, LIVE CATTLE, FEEDER CATTLE, LUMBER, SUGAR....you just saved a ton with my advice! LOL. Those markets are manipulated something awful.
Start on index futures. Go carefully into YM. Don't overdo it at first. You should find it a piece of cake.