Hi all, my first post here, and *I must confess* I'm a complete newb to trading...
I have read/studied as many books and resources as I can in the last 9 months, inlcuding forex, technical analysis (candlesticks in particular) as well as trading psychology... which I found very interesting!
I have also played a demo forex account for the last 6 months.
And that's about the extent of my trading experience.
At this stage I really don't think forex is for me. I fould it too difficult to predict (with my limited trading knowledge and skill in technical analysis) therefore by the end of each month's demo I was usually down, down, down! Gar! On paper it looked, dare I say, 'easy'... but in reality, I blew my demo account up every month. Not easy at all!
However, I am still looking to get my feet wet in some kind of trading (not forex) and was wondering if you folks could suggest a good place to go from here. A friend of mine suggested spread-betting, and ETFs, while a couple of other people have said CFD's are the way to go.
CFD's certainly seem popular, and perhaps might be what I'm looking for, but
I've noticed a few posts on here that suggest that newbs shouldn't go straight into CFD's as they are more 'difficult' to trade, so could anyone suggest the next sort of 'logical step' for me.
When I eventually enter the market for real (I'm not ready yet!) I will have $1000, so I'm looking for something that allows me: low brokerage costs, leverage, using reputable platform, ie, not MM. So, bearing that in mind, where should I go from here in terms of, what area of trading. Would studying up on CFD's be the next logical step? Or, should I avoid them and look to something else, futures? derivatives? Ahg! It's a whole new world to me!
Thanks for any input.