Hi
As a beginner using small stakes trying my hand at swing trading, should i be selective with the races i choose or just try and trade as many races as possible ?
My goal is to not make a loss and get a feel for the markets .
My thought is,if i was to be selective this would put months on the time before i get enough trades under my belt in what you could call practice mode.
Shold i be selective ?
If you are deploying just one stratergy then i would definetly be selective, no stratergy fits all races so trying to trade them all the same way will result in lots of losses or at best breakevens which will then be followed by loss of confidence in yourself - best to find a statergys that suit market conditions and stick to that. Its much better to trade a few profitably and with confidence than all where your basically tossing a coin.
Competitive race with the markets leaders all priced between 4.0 & 6.0 tend not to be good for swings but more suited to scalping as the prices tend to see-saw up and down in turn within a few ticks range and are often difficult to read so i would leave these types alone for swings and concentrate more on uncompetiive races with a clear fav.
Competitive race with the markets leaders all priced between 4.0 & 6.0 tend not to be good for swings but more suited to scalping as the prices tend to see-saw up and down in turn within a few ticks range and are often difficult to read so i would leave these types alone for swings and concentrate more on uncompetiive races with a clear fav.