Starting out

[sophia72]

Hi,

I am planning to start trading futures of some sort, I have spent the last year studying trading in general and spot Forex, I never really got round to live trading and always worried about bucket shops etc.

I am willing to spend a year or 2 on demo in order to become consistently profitable (If I can).

A few questions are:
Which threads are the best for beginners in futures.
Is it better to stick to one instrument and master it.
Which software is the best for charting (for demoing).

Thanks for any help

S

 

[jgold310]

sign up for a paper account at Interactive Brokers. All the traders I know use IB and some use Think Or Swim. I like IB because it is cheaper but Think Or Swim has great charts.

 

[Coolio]

I'm a thinkorswim guy .. I can tell you that their papermoney platform is 100% on par with the real account. I've even run papermoney thinkorswim side by side with Infinity Futures and they were mirror images.

I like to move my stops, etc, right on the chart.

The margins are high on TOS but that sorta keeps you outta trouble .... if you don't have $7000 you have no business in the /ES anyways, for example.

As far as contracts, I'd guess four is plenty, almost too much.