I appreciate that the general issue of NQ vs. YM is discussed in some other threads. I have a specifically oriented question relating to a comparison between the two, and would be very grateful for any input in response to it from anyone who's traded both, so I decided (rightly or wrongly?) to start a new thread to invite opinions about a specific issue.
My question:
Given the background information below, should I be looking at NQ or YM, and why: what are the relative pros and cons of each, given my objective as explained below?
The background information:
I've almost never traded futures. I have quite long experience of trading spot forex intraday, mostly from M5 and M10 charts, often trading about 4-6 times per day, scaling three lots in and out, typically in pursuit of about 15-35 pips. I make some of my living from this. All my trading is oriented toward risk management rather than profit maximization. I don't use any indicators and I don't know much about volume. Don't laugh too much, but a few people have told me that this sort of trading might in principle be quite suitable for index futures trading, and I can envisage potential advantages, if it is.
I'm mostly retired and want to experiment with this a little. I don't really like or value demo trading much, but can afford to start learning and experimenting with smallish position sizes on a real account. I'm potentially attracted to YM and NQ (rather than to ES or TF), mostly because they trade at only $5 per tick per contract. Which should I be starting off on?