Beginner question - please recommend a market

With $5K I reckon cryptocurrencies or spot fx with no or very little leverage is your best option.
 
MGC (Micro-Gold). Best one to work with. It has other advantages as well, such as seeing how your broker handles orders in thin markets. Because if they get you fills in THAT one to your satisfaction, then the major markets will be order-fill gravy.
 
Overnight said:
MGC (Micro-Gold). Best one to work with. It has other advantages as well, such as seeing how your broker handles orders in thin markets. Because if they get you fills in THAT one to your satisfaction, then the major markets will be order-fill gravy.
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Your broker does not find you depth and liquidity. They just route your order to the market place
 
java said:
if you are like me when I started out you have already googled it
If you are in slovakia any market you trade is going to be foreign so why not go with the best, cme, that last thing made in America, get some while they last, wouldn't be at all surprised to wake up someday and read they have moved to Slovakia.
Es is the S&P mini traded on the CME
YM is the Dow jones traded on the cbot, but they are now both cme, so you go long one and short the other based on all your analysis, and it is very cheap, they give you a margin break, you can put it on for peanuts and because of the different values it creates a Micro S&P which is just about right for a careful lucky undercaptalized trader on margin, but you will still need to find a broker who's minimum you can meet to open an account. Better idea is to simply trade in cash until you have built up a more sizable account. And for that any stock or etf is a vehicle anybody can trade but you will need to hold long enough to avoid PDT.
You do have google right?
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Haha I did google it briefly but I didn't make much sense of it and couldn't spend too much time researching it at the time, so thank you for your answer. I will consider what you have recommended.
 
5k is enough for futures if you are disciplined and a good trader. Likely being you are new you are neither unfortunetly. Mind your risk, avoid the emotional trading and big losses. Good luck .
 
ajo123 said:
Greetings,

I am sorry if this has been posted before, I did use the search function but did not find a thread that would answer my questions.

I would like to get into trading but I am under-capitalized. My budget will be <5k.

My plan is not to trade with real money any time soon, I want to spend the upcoming months learning all I can while trading on sims.

I have already started learning TA/price action which I would like to use as a basis of my trading.

However, I cannot determine what market and strategy would be best suited for someone with such a small budget but good analytical skills and tight risk management. I am looking for small, incremental gains, not a high risk/high reward scenario where I can blow my account in one day if things go wrong.

What do you folks recommend? I am based in Slovakia, Europe if it matters.

Thank you very much in advance :)
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What kind of (sim) trading do you want to do? Sitting in front of your computer while the market is open? Or swing trading, where you stay multiple days/weeks in a position? And you don't need to be in front of the computer all the time?
If you want to trade while the market is open I would advise you to use a market which is in your own time zone. If you, being in Slovakia, decides to go for USA markets you need to be in front of your screen during the evening and night. It would be more convenient if you choose a European market in that case.
 
HobbyTrading said:
What kind of (sim) trading do you want to do? Sitting in front of your computer while the market is open? Or swing trading, where you stay multiple days/weeks in a position? And you don't need to be in front of the computer all the time?
If you want to trade while the market is open I would advise you to use a market which is in your own time zone. If you, being in Slovakia, decides to go for USA markets you need to be in front of your screen during the evening and night. It would be more convenient if you choose a European market in that case.
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Well, I wouldn't mind either to be honest. My work is pretty flexible so I can trade for a couple of hours during the day if need be. What's more important is being able to trade on a budget and make it a learning process.

As far as sims go, I have downloaded NinjaTrader for futures and have an account on HTMW for stocks, but I will probably switch to TradingView.
 
ajo123 said:
Greetings,

I am sorry if this has been posted before, I did use the search function but did not find a thread that would answer my questions.

I would like to get into trading but I am under-capitalized. My budget will be <5k.

My plan is not to trade with real money any time soon, I want to spend the upcoming months learning all I can while trading on sims.

I have already started learning TA/price action which I would like to use as a basis of my trading.

However, I cannot determine what market and strategy would be best suited for someone with such a small budget but good analytical skills and tight risk management. I am looking for small, incremental gains, not a high risk/high reward scenario where I can blow my account in one day if things go wrong.

What do you folks recommend? I am based in Slovakia, Europe if it matters.

Thank you very much in advance :)
More...

I would suggest that you start off with the stock market in your Slovakia. Stocks are easier and there is home ground advantage.
 
algofy said:
5k is enough for futures if you are disciplined and a good trader. Likely being you are new you are neither unfortunetly. Mind your risk, avoid the emotional trading and big losses. Good luck .
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Fair enough. I played online poker for a while so I have developed a bit of emotional resilience and some risk management :)
 
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