Dow trading

[mjhh]

Hello,

I would like to day trade the dow future, small amounts at first and then move on from there.

Can anyone recommend a site for trading small amounts of dow futures, I would spreadbet but find the spread is too big, whereas the futures spread is a lot smaller.

Also can anyone recommend a site for free up to the second dow charts.

Thanks for your help

Max

 

[schoe]

Hello,

I would like to day trade the dow future, small amounts at first and then move on from there.

Can anyone recommend a site for trading small amounts of dow futures, I would spreadbet but find the spread is too big, whereas the futures spread is a lot smaller.

Also can anyone recommend a site for free up to the second dow charts.

Thanks for your help

Max

Hi Max, Try www.interactivebrokers.co.uk to trade the mini Dow . (YM)

You can use their basic charts or if you have an sb account use them, deal4free's are quite good.

If you want YM Charts then buy Sierra Charts for a small fee and use the interacitve brokers feed for free.

Hope this helps.

 

[FTSE in mouth]

Hi Max

Some might say trading futures from the off for a novice may be very risky but if you are determined to do it and it fits your risk profile then go for it.

Trade the YM on the CBOT @ $5 per tick ISTR. The DJ future is available @ $10 per tick for the more adventurous as well . It's a great way to get exposure. IB want a minimum of £1450 but be sure to check the IMR and Maintenance etc etc. To be comfortable I would start with £10k 'cos if you can't afford that to start with in a futures account then you should stick to Spreadbetting. Proper capitalisation enables you to make better decisions and gives you time to breathe and learn. Start 1 lot at a time while you get your routine, strategy and execution in place.

Good luck!

FIM

 

[fudgestain]

..then you should stick to Spreadbetting. Proper capitalisation enables you to make better decisions and gives you time to breathe and learn. Start 1 lot at a time while you get your routine, strategy and execution in place.
FIM

Inclined to agree with you FiM. Spreadbetting at a 4 point spread on the Dow is very manageable with very low margin requirement for a beginner.

Knowing what you are doing is pretty much absent in noobies and learning is much more important.

 

[mjhh]

OK thanks for all your replies, I've got quite a lot of experience trading but I see more potential in daytrading, so I'll check out that site thanks.