The Basics of Trading

This is a discussion on The Basics of Trading within the First Steps forums, part of the Reception category; That's totally flawed, as you have the cross over between the closing of the Asian market & the opening of ...

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Old Jul 16, 2009, 6:30pm   #611
 
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That's totally flawed, as you have the cross over between the closing of the Asian market & the opening of the UK market & also you have the initial gapping effect at 8.00am UK time. So I would never ever trade the markets on opening, as it gives you a false reading, If anything I would trade from 9.00am - 12.00 - 12.30pm & get out before the US people come on board ! This for me would be the quickest way to the poor house to trade openings & I'll stick to Futures trading, were I'm most comfortable at.

Mark
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Old Jul 28, 2009, 10:52am   #612
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Hi pretty good analysis at the start of this thread, been trading for a number of years now and got a random call from a company called forex live room offering me some free trial for thier live room, at first didnt want to take it because i thought to myself why do i need to take advise from other people but found the live room to be most useful and as most serious traders know there is no right or wrong way of trading its all about finding the right style. would defo recommend you have a look worst case is you get a free trial and make some money out the buggers
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Old Jul 28, 2009, 12:03pm   #613
 
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There are still a few genuine companies around, who want to help you with your trading & to make some profit ! In the end it's better to learn for yourself, as they might not be about tomorrow to help you & nothing can replace the feeling of satisfaction, when your trading improves & you find a methodology which best suits your personality.

Mark
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Old Aug 3, 2009, 12:00pm   #614
 
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Wink Forex Education

Originally Posted by ghous
Look at these posts...

james16 Chart Thread @ Forex Factory

james16 Chart Thread - Page 2475 @ Forex Factory

james16 Chart Thread @ Forex Factory

Jaroo makes good informative posts

Continuing education for those willing to make the effort.
Good luck and enjoy
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Old Aug 11, 2009, 9:02pm   #615
 
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I cant see the graphs :S
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Old Aug 15, 2009, 7:20am   #616
 
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Paul and FTSE, Thank you both for your posts. I never traded real money in my life. Funny thing is you both seems to think that people might laugh at what you say. Truth is, it is after 1 am here in Canada and even though I am half asleep, I am not going to bed till I read what you guys are saying because it is quite educational...shorten version of my blah blah blah, is to keep posting and thank you very much...I am on page one of the tread, dont know how far I will get tonight.
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Old Aug 15, 2009, 11:37pm   #617
 
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Quote:
Originally Posted by Marshmellow View Post
I cant see the graphs :S
I have no problem - must be your system etc ?
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Old Aug 16, 2009, 9:26am   #618
 
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Originally Posted by neil View Post
I have no problem - must be your system etc ?
I believe mr mellow maybe commenting on this thread in general, many of the charts are missing because they were hosted off site, and are no longer available.

we have had some success at restoration up to post 60 using web caches and archives, but thereafter has been a bit of a fail, it would appear the web spiders got fed up at that point and went home.

so if any kind soul has this thread saved and would like to assist in the threads restoration, please get in contact
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Old Aug 20, 2009, 3:28am   #619
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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 !


Quote:
Originally Posted by Lightning McQueen View Post
I believe mr mellow maybe commenting on this thread in general, many of the charts are missing because they were hosted off site, and are no longer available.

we have had some success at restoration up to post 60 using web caches and archives, but thereafter has been a bit of a fail, it would appear the web spiders got fed up at that point and went home.

so if any kind soul has this thread saved and would like to assist in the threads restoration, please get in contact
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Old Aug 21, 2009, 1:35pm   #620
 
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Thanx alot for posting i get few ideas form this
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