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Hello brownsfan019;
>>1) What are you planning to trade? Stocks, options, futures, forex?
Right now I'm leaning toward Stocks with high volume, high volatility. So I will be looking at a program to pick those most active at the open.
>>2) How are you planning to trade? A few trades per day or many more?
That will be based on how fast I learn to be profitable. 1-2/day to start with tight stops.
>>3) What style of trading will you be using? With trend, against trend, pivots, market profile, candles, etc. etc.
I don't know how to answer this question. With trend or against trend sounds too long for me; pivots maybe; market profile not sure; candles yes for charts. Lets say if it looks like its headed up or down I'm in for a quick 1/4 point or more, long or short. I would like to base support for direction with pre-trade chart formations or a platform if its available. All I am aware of right now is Level 2 but don't know if that will be as effective as say something newer.
Thanks for helping; Billy |
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Billy,
I think you'll find much of the info here on TL geared towards Futures and Forex. Not that you can't use the info here, but some of your specific questions may be better answered elsewhere. For example, I'm not sure what's a good stock trading platform b/c I haven't actively traded stocks for quite a while.
With that being said, you are headed in the 'normal' path - many start with stocks b/c that's easy, you'll then want more bang for your buck and look at options and then one day you'll see futures and/or forex as a way to get some great leverage.
So take a look around and see what interests you and start building from there. There's plenty of FREE information all over the internet, so I would just see what catches your attention and then go from there before shelling out major bucks. What you are looking for is something that grabs your attention and you say - yeah, I could see myself trading like that. You either want to hop on the trend of the day and ride it or you want to find when the trend may be ending and look to catch the reversal. In the end, trades are either with the trend or against it. Of course, how you define trend is subjective.
Good luck and be ready to spend some serious time getting your trading biz in place.