The Best Markets For New Traders | Blog Of Chris Dunn
One of the most common questions I get is, “What is the best market to trade for someone brand new to trading?”
In this post I’m going to give you my perspective from over a decade of trading, and over 7 years of teaching other people how to trade. I don’t expect everyone to agree with me here, but if you’re new I’d take my recommendations to heart.
Why You Should NOT Start Trading Forex Or Binary Options
Many people are drawn to markets like Forex or Binary Options. In my opinion, you should steer clear of these markets completely. There’s a lot of hype around Forex, but the reality is that it’s very difficult to profit consistently. Brokers trade against their customers, governments manipulate prices, and it’s hard to get “price transparency”. Binary options are kind of like Russian Roulette with the odds stacked against you – no matter what all the marketers want you to believe!
Also, Bitcoin has been all the rage lately. We’ve seen price swings of 40% – 70%, which has attracted a lot of people to this market. Even though I’ve nailed 7 trades in a row, I would not recommend someone new to start trading Bitcoin. There are incredible risks with trading Bitcoin as I’ve laid out in this Bitcoin video series, and my bitcoin trading webinar.
For example, insolvent exchanges can take your money and run without any recourse. I’ve been begging people for months NOT to trade through Mt. Gox. In fact, right before Mt. Gox announced they were halting all withdraws, I released this video explaining the truth about Bitcoin exchanges:
Stocks & E-mini Futures: The Best Markets For New Traders
If you’re new to trading, then I’d recommend starting by trading individual stocks or e-mini futures. The mix of liquidity, volatility, and simplicity of trading makes these markets ideal for new traders. There are some pros and cons to each market as I’ve laid out in this video series.
Stocks – I love the fact that we can find at least a few stock trades every single day regardless of what the overall market is doing. Even if the S&P 500 is dead, we can find a few stocks that are making big moves. You can grab my free 60 minute stock trading blueprint here, which will show you my favorite trade setup, the types of stocks we trade, and even show you a live trading video.
E-mini Futures – If you’re looking to leverage your time and money, then e-mini futures might be right for you. In this free video series, I talk about my strategy for day trading e-minis and show you how you can trade with us everyday.
Continue reading:
The Best Markets For New Traders | Blog Of Chris Dunn
See which stocks are being affected by Social Media
