How to choose a market and/or a product ?

O

Olscream

Hey everyone,

I'm a beginner in the world of trading and I'm still learning the basics. And so, I would have a question, how do you choose a market to trade ? On which criterion ? Do you know some videos, posts or papers about it ?

I would say, even if sometimes I could have time for it, I would prefer to not spend more than 30min everyday on trading (except during a learning phase at the beginning if necessary). I'm not looking for neither for huge profits.

Thank you in advance for your help !
 
Bet on the red or black as only way of getting the highest chance of being profitable as takes years and 10,000 to 20,000 hours of screen time to learn intra-day trading.
 
Choice of market - things to consider -

Do you want to hold over-night? Over week-ends? A few hours?
What areas do you already know about? Forex? Stocks? Certain industry sectors? Commodities?
What leverage do you want / can you afford?
What have you traded so far and why did that not go so well?
Will you be trading off price charts or fundamentals or news?
Which markets have the cheapest access (spreads, commissions etc.) from the account you have?
 
I'm sure many would disagree... but almost all underlying markets trade similarly. Price action is constant. Markets go from one extreme to another.

I always thought it was nuts for people to just trade ES, or just trade AAPL.

My suggestion, learn to trade on longer time frames (shorter ones are harder).
4hr etc.

Trade small, because you will lose often.

But first, try to design an edge, TEST TEST TEST TEST.
 
Olscream said:
Hey everyone,

I'm a beginner in the world of trading and I'm still learning the basics. And so, I would have a question, how do you choose a market to trade ? On which criterion ? Do you know some videos, posts or papers about it ?

I would say, even if sometimes I could have time for it, I would prefer to not spend more than 30min everyday on trading (except during a learning phase at the beginning if necessary). I'm not looking for neither for huge profits.

Thank you in advance for your help !
More...

Just some of the criteria would be whether you want to use leverage (cash versus Futures), time frames traded and the ability to gather information from reliable sources. Try to focus on decision making in your early days as opposed to gains. Time will potentially prove that to you.
 
Olscream said:
I'm a beginner in the world of trading

I would prefer to not spend more than 30min everyday on trading
More...

You can't do nothing with 30 minutes; You might as well just be an investor or maybe a swing trader.

To greatly succeed trading, you have to be able to allocate and watch the market from open to close.
Because you never know when the opportunity will strike or open or close. -- You have to be a calm sniper, or someone on a stakeout.
 
Olscream said:
Hey everyone,

I'm a beginner in the world of trading and I'm still learning the basics. And so, I would have a question, how do you choose a market to trade ? On which criterion ? Do you know some videos, posts or papers about it ?

I would say, even if sometimes I could have time for it, I would prefer to not spend more than 30min everyday on trading (except during a learning phase at the beginning if necessary). I'm not looking for neither for huge profits.

Thank you in advance for your help !
More...

Your writeup is straightforward. You already decided you are not interested in trading.
I suggest you avoid trading as you have decided not to commit > 30 mins / day on trading.
Your personal goal of not looking for huge profit is very unappealing.
If your goal is not attractive, don't bother to try aiming for it.

do note that majority of traders can't make it.
so don't waste time and money unless
you have passion, interest, desire to trade.

When I started day trading, I spent > half of my life trading
 
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