I'd rather go with met trader.
Their business plan makes more sense.
Free education so they have an incentive,
To educate you well to earn money from you.
Trying to get into day trading properly, seeking advice, live in london....
- Thread starter dhiren patel
- Start date
I'd rather go with met trader.
Their business plan makes more sense.
Free education so they have an incentive,
To educate you well to earn money from you.
Most prop firms have terrible training programs. I'd be wary if this training is free.....their payout ratio is likely to be low.
Actually the split is fine if I remember well but the infrastructure costs are high.
So once you're employed after being trained, you better make money quick to cover them.
Here's a serious reply. Don't think this is easy. And 10K is nothing. It takes years to make money at day trading. Learning the markets, money management, self discipline, technical analysis. Best way to start is to read books on market theory and trading psychology and simulate trade or paper trade for a year. If you don't, then you'll spend a ton of money on commission from over trading and at best break even. Worse lose it all. Reason why there's so many jokers on this board is a clue to day trading market. It attracts get-rich-quick-mentality guys who think it's gambling. Most. Like 80% are losers and make zero money. Not what you wanted to hear but good luck.
Shall I understand that futures are easier to trade, that the failing rate among futures traders is less than than the proverbial 90% ?
Trading stocks?Open up a futures account and learn how to trade order flow. Spend a couple of years sim trading until you are right AT LEAST 60% of the time.
Not easier until proven otherwise.
And easier for whom? Failures are high.
Plus you cannot ask a fish to climb a tree.
Stocks, futures have similarities & peculiarities.
However abstract & general this distinction could be.
Define your preferences, conjecture, test & move forward.
He may have skills for reading order flow that you may never reach.
It make sense he advises futures since he trades from order flow.
Because futures are centralized markets VS most of stocks.
Which trade on different exchanges. However ...
You don't advise a runner to lift steal.
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No futures are not easier to trade. Why futures?
http://www.apexfutures.com/trading-tools/education/advantage-of-trading-futures/
They can be, yes. It depends from what parameters you trade, and with what trading-style and frequency. (Personally, I gained a significant advantage by switching to futures only and I definitely find them easier to trade.) It's not necessarily so for everyone, though.
I don't know about the magnitude of the figures (and there are never really any reliable sources for these figures, are there?), but I think the overall failure-rate among futures traders will actually be lower than those for traders of other instruments. I'd imagine the primary reason for that is that futures tend, overall, to attract slightly more experienced and generally "better" traders.
It's important not to make assumptions about causation. It could easily be true that the success-rates with futures are higher, overall, while also not true that any specific, individual trader is more likely to be successful with them: two different groups of people, as well as different groups of instruments, are being compared.
My personal experience is that futures are easier then forex. I traded +5 years forex fulltime before moving to futures.
But it is personal, so can be different from person to person. Prices in forex seemed to me to be manipulated and my open position was always known by the counterparty, which was in my case Prudential (Bache) Securities. I was lucky that I had a Teletrac, so could see realtime prices, and Prudential knew this so they could not manipulate a lot.
I know cases where prices were manipulated by 10 pips!!! My dentist who traded forex also but had no realtime info, came to me and ask, while watching my screen, a quote from his broker. Quote was 10 pips away from the market. When my dentist told them they were cheating, they were very silent. Dentist closed his account. At that time there was no internet so cheating was very easy.