Hi
I'm very interested in position trading. My starting capital is about £30000. I recently read Come Into My Trading Room - Elder, and if I stick to the 2%/6% rule, my trading size will be £600/trade.
I'm not immediately concerned with profit size, I'm much rather interested in spending the first several months perfecting the identification of winning trades rather than making big money from them. But are the odds stacked against me with a trading size of £600? What I want to avoid is the situation where I correctly identify winning trades, but because of the trade size, I still lose money, or make next to nothing.
With this in mind, I'd like some opinions on my options to starting out. I'm from the UK and am/was decided on trading individual FTSE100 stocks. Is this sensible? With my trading size, would I be better off starting out with individual stocks or should I be looking to trade something else? Should I trade UK FTSE(100/350) stocks, or would I be better off on the DOW?
I'd also be very grateful if anyone could point me in the direction of a couple of stocks that are good candidates for my trading size that I can then study for a while.
Thanks in advance for any help.
I'm very interested in position trading. My starting capital is about £30000. I recently read Come Into My Trading Room - Elder, and if I stick to the 2%/6% rule, my trading size will be £600/trade.
I'm not immediately concerned with profit size, I'm much rather interested in spending the first several months perfecting the identification of winning trades rather than making big money from them. But are the odds stacked against me with a trading size of £600? What I want to avoid is the situation where I correctly identify winning trades, but because of the trade size, I still lose money, or make next to nothing.
With this in mind, I'd like some opinions on my options to starting out. I'm from the UK and am/was decided on trading individual FTSE100 stocks. Is this sensible? With my trading size, would I be better off starting out with individual stocks or should I be looking to trade something else? Should I trade UK FTSE(100/350) stocks, or would I be better off on the DOW?
I'd also be very grateful if anyone could point me in the direction of a couple of stocks that are good candidates for my trading size that I can then study for a while.
Thanks in advance for any help.
