The Basics of Trading

This is a discussion on The Basics of Trading within the First Steps forums, part of the Reception category; You mean support, and also pivot points. There is always a support price, and pivt points. If a stock breaks ...

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Old Mar 2, 2011, 10:38am   #661
 
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Re: The Basics of Trading

You mean support, and also pivot points. There is always a support price, and pivt points. If a stock breaks supportit will most likey not continue its direction you anticipated. Always place a stop loss 2o cents below support price, to minimize your losses, this way you will maximize in the end your profits as well.


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Originally Posted by McMathews View Post
Hi there
Is there any formula to know the the price level is at the minimum level and it won't go beyond that point so that while buying stock our profit will be maximized.
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Old Mar 2, 2011, 10:42am   #662
 
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Re: The Basics of Trading

Definately discipline, but also patience, and no greed is allowed, otherwise tradng turns into gambling!!!

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Originally Posted by shmeeko69 View Post
You can have all the bells & whistles
in the world, but If you don't have
strong mental discipline, then you
won't succeed.

The three most important things in trading are -

Discipline Dispcipline Discipline

Mark
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Old Mar 2, 2011, 8:46pm   #663
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Re: The Basics of Trading

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Originally Posted by McMathews View Post
Hi there
Is there any formula to know the the price level is at the minimum level and it won't go beyond that point so that while buying stock our profit will be maximized.
The question seems to be -- in general -- whether there is any way to identify risk-free trades. I don't believe there is.
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Old Mar 2, 2011, 8:52pm   #664
 
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Re: The Basics of Trading

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Originally Posted by Dacamic View Post
The question seems to be -- in general -- whether there is any way to identify risk-free trades. I don't believe there is.
Very true Dacamic but that will not stop the numbnuts chasing this particular Holy Grail
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....Indicators show the past. Price Action "Indicates" the future.
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Old Mar 30, 2012, 5:23pm   #665
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Re: The Basics of Trading

Thanks this thread has helped me immensely
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Old Apr 6, 2012, 6:23am   #666
 
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Re: The Basics of Trading

i am a new member to trade2win forx forum... i tried many times for posting.. but i can not post.. what is the reason.. please explain..

Last edited by fxsusan; Apr 6, 2012 at 6:24am. Reason: letter missed
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Old Jun 7, 2015, 10:55am   #667
 
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advice

Hi,

I am getting in touch as a newcomer to trading hoping you may be able to assist me.

I so agree it is very tough for anyone starting out on there own.

I have even done a training programme and put a lot of time into it and I've still not climbed this steep mountain after 6months.

Hope you can help

Helen















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Originally Posted by jansher21 View Post
Here is my advice for any newbies.

Capital Preservation is paramount and in my opinion you need to work with successful traders to learn the craft. I know I will get flamed for this, but it is VERY difficult to learn this trade yourself.

Think of the old Japanese sword maker who would take years to teach his student the art - the student would take time, but would in the end learn and learn extremely well.

Systems : There really are no "magical" systems that you can plug in and they will make money for you. It may well be the case that there are anomalies that can be taken advantage of by certain programs - at certain times. However, sooner or later these will blow up in a spectacular fashion. Probably just when you are thinking about increasing your leverage as you have been doing so well.

So - what is the best approach for new traders ?

Here is what I suggest.

Go and find a trader, or signals provider - that has a long term verifiable trading record. This part is important - look for precise recorded entries and exits and not just someone who claims they predicted the following day's highs/lows/pivots - BUT did not issue any real trades.

When you work with successful traders, you end up not getting your account blown away. You also have time to learn the trade and then be able to go off and develop your own trading ideas.

My suggestions are : secretsoftraders.com ($5k purchase) futurescomsignals.com (free trial). If people want a more exhaustive list of what I do, please get in touch.

One thing is for sure, you CAN make money trading. This is my way of doing it, everyone has to find their own.

Good Luck !
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Old Jun 8, 2015, 6:15pm   #668
 
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I wonder if this thread could be fired up again, or a new similar one started?
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Old Jun 8, 2015, 8:30pm   #669
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I wonder if this thread could be fired up again, or a new similar one started?
The sad reality is most of these threads work in theory, but when traded in real life, it turns out to be a complete failure. The reason being is all systems made public are not backtested or even programmed to encounter "market counters" or "traps" set forth in order to attack the accounts balance. What we should be looking for is entry accuracy, and how to counter market traps for those accurate entries. That will allow us to risk more, and earn enough in the short term worth speaking about.
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Old Jun 9, 2015, 4:25am   #670
 
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Originally Posted by ScalpingRus View Post
The sad reality is most of these threads work in theory, but when traded in real life, it turns out to be a complete failure. The reason being is all systems made public are not backtested or even programmed to encounter "market counters" or "traps" set forth in order to attack the accounts balance. What we should be looking for is entry accuracy, and how to counter market traps for those accurate entries. That will allow us to risk more, and earn enough in the short term worth speaking about.

Thanks man, I wasn't looking for a system so to speak, rather just a good walk through of the basics that this thread appeared to offer.
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