Hi I am new to trading and want to take it real slow, develope a system, money management skills etc.
I want to trade futures (for the leverage - I know it is higher risk).
I was thinking of a small account, say £10k, with single trades of max £2k with stops in place to limit loss to £200 per trade.
I want to allow for a number of loss trades and yet protect my equity to stay in the game.
I intend to follow trends, trading at a rate of roughly one trade a week, the position end of swing trading rather than the day trading end. I have time to put into trading.
So
1. Can anyone recommend any futues markets (taking into account volatility, typically trending markets, price fluctuations which won't kick me out etc.) that might work well with my set-up? I had been thinking about the mini S&P 500? I will review any comments you make and decide
2. Do you know where I can get free historical data for those markets? (To historically test my eventual trading strategy - which i will then start paper trading)
Thanks in advance for any advice anyone can give me on any elements of my plan.
I want to trade futures (for the leverage - I know it is higher risk).
I was thinking of a small account, say £10k, with single trades of max £2k with stops in place to limit loss to £200 per trade.
I want to allow for a number of loss trades and yet protect my equity to stay in the game.
I intend to follow trends, trading at a rate of roughly one trade a week, the position end of swing trading rather than the day trading end. I have time to put into trading.
So
1. Can anyone recommend any futues markets (taking into account volatility, typically trending markets, price fluctuations which won't kick me out etc.) that might work well with my set-up? I had been thinking about the mini S&P 500? I will review any comments you make and decide
2. Do you know where I can get free historical data for those markets? (To historically test my eventual trading strategy - which i will then start paper trading)
Thanks in advance for any advice anyone can give me on any elements of my plan.