Opinions please.............???

A

ADONAI1ST

All,

What instrument do you recommend and why? i.e. ETF's, Futures, options, to trade?

I have limited experience and cash, look to grow an account over time and supplement my income in retirement, or retire early.

I understand that there are risks no matter which way you choose to trade, I guess my question is which is the safest most consistent money maker IYO?
 
With limited cash I would go with ETF's and use a longer holding time frame. Pick trades from the Weekly, daily, and hourly charts and reduce your trading to 2 trades max per week. Once you cross $25-50k than you can work your way into futures.
 
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So you don't recommend Options at all. My only experience is with them(limited), I opened a paper account about a year ago and made a few trades, learned a lot but have since forgot most. Now I'm looking at all ways to trade, and I noticed some on here saying ETF's and futures, which you recommend. I'll do the research on those 2 and see where it leads. Thanks!
 
comagnum said:
With limited cash I would go with ETF's and use a longer holding time frame. Pick trades from the Weekly, daily, and hourly charts and reduce your trading to 2 trades max per week. Once you cross $25-50k than you can work your way into futures.
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Is IB still the cheapest broker? Which do you recommend for those with little cash?
 
Trading ETFs gives you a higher chance of succeeding and gives you the skills you need before applying leverage with futures, options, or forex. IB is fine, I use them as one of my brokers.
 
ADONAI1ST said:
All,

What instrument do you recommend and why? i.e. ETF's, Futures, options, to trade?

I have limited experience and cash, look to grow an account over time and supplement my income in retirement, or retire early.

I understand that there are risks no matter which way you choose to trade, I guess my question is which is the safest most consistent money maker IYO?
More...

I would focus on Futures, but don't do any real trading until your are ready. Ready, would be understand the contract, risks and find your edge, then start very small.

These are some benefits:

-More trading hours to choose from
-Better tax treatment
-Better Leverage without a large account
-No DT rule
 
Trading futures with little cash and no experience will put you at a major disadvantage - you probably will not last more than a few hours or days max. Your odds of making it are mathematically nearly impossible. Many successful futures traders started out on equities/ETFs to gain the experience needed to make a go of trading futures.
 
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comagnum said:
Trading futures with little cash and no experience will put you at a major disadvantage - you probably will not last more than a few hours or days max. Your odds of making it are mathematically nearly impossible. Most successful futures traders started out on equities/ETFs to gain the experience you need to get into futures.
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I think I understand where you're coming from. Another question.

What Software do you use for ETF's? If I remember correctly I was going to use TOS for research and then place trades on IB to save money. Is this completely different since its not options...........
 
ADONAI1ST said:
All,

What instrument do you recommend and why? i.e. ETF's, Futures, options, to trade?

I have limited experience and cash, look to grow an account over time and supplement my income in retirement, or retire early.

I understand that there are risks no matter which way you choose to trade, I guess my question is which is the safest most consistent money maker IYO?
More...

Hello ADONAI1ST,

I like day trading future cause by the end of the day I know if I made or lost money.

Futures are more centralized and not bother by company earnings and so forth.

I prefer trading NQ, CL, and ES.
 
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