Before when I mainly day traded all the time, I had very little energy to do much in commodity spreads. But now I have others day trading for me, I spend all my time working on spread trading and loving it. Now granted, like anything, if you don't understand what you are trading, you can lose even more than straight positions. But the margins are like Bone said very cheap and profit to margin is very nice for those starting out. And like any other instrument, got to backtest 10-20-30 years of data for swing to long term trading.
Thanks, that's good advice! Also, thanks to everyone else, that was good advice from the other people who posted!
As you honestly admitted, you are still honing your trading skills. Believe me, being honest about yourself is much more important than the size of the staring account. Some people have already suggested that you do paper trading, backtesting, etc. before starting again. I completely agree with them. Today, paper trading has become much easier and, moreover, it could already give you some reward. Have you contemplated the possibility to start a simulated account on resources like Collective2? (www.collective2.com). They have some quirks, but usually they do a good job at simulating a trading environment. As I said, if your system does well you could already raise some money from subscribers within the first few months and then, if it really works, you could quit leaving everyone in despair!
As you honestly admitted, you are still honing your trading skills. Believe me, being honest about yourself is much more important than the size of the starting account. Some people have already suggested that you do paper trading, backtesting, etc. before starting again. I completely agree with them. Today, paper trading has become much easier and, moreover, it could already give you some reward. Have you contemplated the possibility to start a simulated account on resources like Collective2? (www.collective2.com). They have some quirks, but usually they do a good job at simulating a trading environment. As I said, if your system does well you could already raise some money from subscribers within the first few months and then, if it really works, you could quit leaving everyone in despair!
$10K would be like a dream portfolio for a small trader like me. I would really consider this very much seriously and make money which is very much sufficient for me with this kind of capital money.
Although this amount is not possible for me to accumulate but I can manage such amount and even bigger amounts. I have done some good in my 2 years and now I can manage funds.
If someone didn't land a job right after college, then continued years of unemployment. Unrepayable student loans puts someone at negative worth to start. Just trying to repay that loan would be damn near impossible, let alone trying to save 10K.
Thanks, I will try that too! That really seems like a neat system and has its opportunities too. I hadn't heard of that before, but I am interested in it. I agree too that paper trading and backtesting are good tools too!
Apparently you never met my ex wife, she was remarkably adept at spending every dollar that I brought home...magically 18 months after I divorced her, I had about $35k in my savings account.