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Which is best market for novice?


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  #1 (permalink)
 allysius2005 
Singapore
 
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Hi All,

Just wondering if someone can share what is the best market for novice? Why?

thanks
AL

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  #3 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
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allysius2005 View Post
Hi All,

Just wondering if someone can share what is the best market for novice? Why?

thanks
AL

Please watch this:

https://nexusfi.com/webinars/jan14_2012/where_to_start_part_1/

It should explain everything and give you plenty of good info.

Mike



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  #4 (permalink)
 
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 MrYou 
NC, USA
 
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Definitely visit the link provided by Mike, but the short answer is:

The best market for the novice is the one which provides the least amount of a potential loss. This would be trading SPOT Forex using micro-lots/mini-lots.

The lowest barrier to gaining experience is going to be by setting up a SPOT Forex demo account with MBTrading (no deposit or CC info required), downloading their MBT Desktop software, NinjaTrader (see broker setup configuration info), or their MB Trading FX Metatrader 4.

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  #5 (permalink)
 
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 Bookworm 
Long Island, NY
 
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The "best" market may vary depending on the trading approach chosen. Buying pullbacks or breakouts will require a market that tends to trend while a method that relies on reversals or failed breakouts might do better with a mean reverting market.

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  #6 (permalink)
Ilikefutures
Harrisburg PA/USA
 
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First, you've got to figure out how you are going to trade, when you are going to trade, and how much capital you are going to start with.

Do yourself a favor and do some research about how REAL traders make a living at trading or have made a living at trading. Pick up these four books... Market Wizards, New Market Wizards, Stock Market Wizards and Hedge Fund Wizards, all written by Jack Schwager. These are interviews with real traders dating back to 1988. Make a note about which interviews stand out most. There are many styles of trading and markets covered in these interviews, from individual stocks to commodities, currencies and options. If there are interviews that really stand out, do some more research on those individuals, and try to pick up tidbits about how they trade.

Once you've done that, learn how to test your own trading ideas on platforms such as TradeStation, TradersStudio or similar programs.

After you have done all this, your question will be answered for you. The worst thing you can do is just start trading some market without a plan because someone told you it was a good market to trade for a novice. There are NO easy markets.

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  #7 (permalink)
 
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 lsubeano 
hollywood
 
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the freeee market

demo trade with a 5k, 10k, 25k account.....and treat it like real money (even though it is hard to do). Take trades and follow your plan, money mgmt...ect

after 6 months of profitability then trade live.....

also, if you daytrade, experiment and see which market is your style...how are stops run, when is liquidity low, when do big moves happen.....make up questions for yourself and find out the answer.

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  #8 (permalink)
canuc
Vancouver Canada
 
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how about russel 2000...to risky

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  #9 (permalink)
 
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 Fadi 
Luxembourg
 
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The equity market
Stay away from derivatives and leveraged products... They are recipes for disasters if you don't know how to trade profitably and consistently yet.

Successful people will do what unsuccessful people won't or can't do!
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  #10 (permalink)
 allysius2005 
Singapore
 
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Thank you all for your reply and sorry for late reply.

I think every trader have their own opinion and idea. I really appreciate all the reply.

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Last Updated on July 14, 2013


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