Hope someone can offer some very basic help for a complete newbie, sorry to bore the rest of you, but you guys could save me some time. Recently become interested in Futures intraday trading. Have traded odd stocks in the past, now want to learn how to day trade. Have started papertrading with cfd footsie, read Angell and Elder books, CBOT site etc, to name a few and generally doing my homework first. Want to get involved with minis first. Couple of questions: (If a similar thread has been posted, can someone please redirect me, ta.) 1) After reading threads here, i am considering signing up to IB and papertrading with Tradestation, would these be a good start? 2) Trading mentorship. Would this save time and are there any useful contacts in uk? 3) What would be the most relevant sites or books to learn and avoid the pitfalls? I intend to continue homework and papertrading for a good while yet and any other helpful tips would be appreciated. many thanks
WELL THOSE TWO BOOKS HELPED ME "MASTERING FUTURES TRADING" BY BO YODER "TECHNICAL TRADING TATICS"BY JOHN L.PERSON THE AUTHORS' TECHNIQUES ARE VERY DIFFERENT OF EACH OTHER. BUT I THINK IT WILL BE A GOOD EYE OPENER TO HOW TO TRADE FUTURES. BUT YOU HAVE TO MAKE YOUR OWN RESEARCH, THAT 'S THE MOST IMPORTANT PART. GOOD LUCK !!
Search the forum threads for newbie/begining help, etc. I just recently posted responses to very similar threads and don't want to re-type everything. Search for post by me if you want, I certainly do no everything, there are alot more senior people on this forum. Rember this though, don' t even think about risking your real cash until you can make money on a simulator real time for atleast 2 weeks. Good luck and take it slow, there is plenty of time/trades to lose your money on
In regard to your question #1, unless your're going to test automation of your strategy (assuming you already have one and u have programming knowledge), you really don't need tradestation.. IB has papertrading features and if you need separate charting software there are many other vendors that offer realtime data for e-minis for half or quarter the TS price..