[Soultrader]

Originally Posted by dalby »

I think the mini nikkei is a great idea. I've played around with it before, and at 1/5 the size of the SGX contract, it's MUCH more manageable for beginners.

If you have over 25k in the account, then you can daytrade the DIA as a proxy for the YM.

It's an ETF and every 100 shares = $1 per dow point, so you can trade much smaller size than the dow minis, and still get the same market exposure

the problem is that you will violate pattern daytrader regs if you daytrade it with less than 25k

DIA also has inferior fills compared to YM (at least in my experience), so if you can make your strategy(s) work on DIA, you will be well equipped for YM.

Would you happen to know any brokers besides IB that provides mini Nikkei? Thanks

[dalby]

nope. I am an IB user (also AMTD) and am in the process of signing up for TS.

I didn't realize other brokerages didn't have it

[SpearPointTrader]

I would not even think about trading for real, if I could not consistently grow a paper trading account. It's hard enough dealing with the psychological pressures of live trading, but to do so when you don't even have a functional system as well? That's nuts.

Most trading software has a simulator that is virtually the same as real trading. Master that first. THEN use real money. The psychological crap is so much easier to deal with if you have a proven system to begin with.

[pipbanker]

If I may suggest something here that would be this. DON'T DO any live trading before you can profit on demo. Consider live trading only if you are profitable for a few month.
When you move to live and gain only loses, see what was that? There could be psycho involved.
Believe me, you will have plenty of opportunities to drain your account. Dont you it while you are learning.
That is the first step. When you get over this stage then you might move to step 2.
This might take you a while ( few month or few years)
But hey, demo is cheaper

[Sandov]

Originally Posted by SpearPointTrader »

I would not even think about trading for real, if I could not consistently grow a paper trading account. It's hard enough dealing with the psychological pressures of live trading, but to do so when you don't even have a functional system as well? That's nuts.

Most trading software has a simulator that is virtually the same as real trading. Master that first. THEN use real money. The psychological crap is so much easier to deal with if you have a proven system to begin with.

I wouldnt say the "psycho crap"-. that crap can turn a profitable demo-trader to a consecutive-loser one. happened to me.

[Stiffroot]

I noticed people in here naming trading platforms for Futures like IB and more. As a beginner I have looked around at think or swim, IB and came across Kingsview. Anyone have any ideas on which platform is best for the beginner with around $10 to start on? You all seem to be much more knowledgeable than myself. Hoping to catch up....