Hey guys,
So I'm new to daily trading. I currently have a Roth account with Schwab that I use as a long-term investing platform and for the abundance of charts and tools they have on there (like crazy amounts). The thing is, I want to start trading more frequently and their commissions aren't exactly conducive to that. I have read through a lot of the beginner articles and stickies on here and elsewhere and I am now formulating my trading plan. So far I've narrowed my scope to Swing Trading since I don't have time at work to spend hours for the rapid buying and selling of scalping or day trading. And I already have some longs that mostly bore me. Also, I want to be able to make a structured plan (mechanical) that exits at 5% profit (too much? too little?) or 0.75% loss. I'll probably start with around $2000.
Next I need to figure out what I will trade and where. I have heard a lot about Forex being rather risky for newbs, futures being simple, and options being safe[r]. Obviously, living the US, I can't spread bet...so that's out. Most likely I will use candlestick charts to figure out 3-day averages and supply/demand breaks. I know there are a bunch of places to find Broker ratings (I get the feeling IB is too seasoned for me), but what is a really good paper trading site (free)? I have an account on updown.com that I started years ago at a friend's behest, but never really dove into it.
I hope I've covered all my bases here and am really excited to get moving (methodically, of course).