Where do I start?

This is a discussion on Where do I start? within the First Steps forums, part of the Reception category; Originally Posted by nwqwhf13 Hi all, I am really new to trading and have zero knowledge about it. I just ...

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Old Nov 29, 2011, 9:14am   #31
Joined Jul 2011
Re: Where do I start?

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Originally Posted by nwqwhf13 View Post
Hi all,

I am really new to trading and have zero knowledge about it. I just want to hear from someone who had started from nothing but gradually built up a portfolio. What's the first step, what books should I read, what techniques should I learn?

Thanks in advance

Frank
Hi frank,

Nice to meet you. People here are nice so, don't hesitate to leave a message here if you have any questions. Hope to hear from you soon..

Happy Trading.
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Old Nov 29, 2011, 12:34pm   #32
 
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Re: Where do I start?

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Originally Posted by CortneyWilliams View Post
Hi frank,

Nice to meet you. People here are nice so, don't hesitate to leave a message here if you have any questions. Hope to hear from you soon..

Happy Trading.
Not sure if I agree with you cortney, I think a lot of people on here are a bit nasty, certainly they are so to me.
For frank, LEARN TO TRADE, Learn what really moves the markets, as far as books go check "The wealth of nations" Adam Smith; "Trading in the zone" Martin Douglas; then BE REALISTIC. If you start with £1000, do you really imagine that you can get say a 200% return on that in any year?
Watch this series on youtube: This will show you how to act and how not to react.
http://www.youtube.com/watchv=68cciZYNqn0
Consider what assets you want to trade bearing in mind that any leveraged product carries the greatest risk. Whatever you do don't treat trading as a fun easy game, treat it as a business.
If you can come back to me with the answer to the first Question "What really moves the maarkets"? Then whats more you'll be a MAN my son.:sma rt:
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Old Dec 2, 2011, 9:35am   #33
Joined Jun 2011
Re: Where do I start?

Quote:
Originally Posted by nwqwhf13 View Post
Hi all,

I am really new to trading and have zero knowledge about it. I just want to hear from someone who had started from nothing but gradually built up a portfolio. What's the first step, what books should I read, what techniques should I learn?

Thanks in advance

Frank
Demo trade daily, see what works for others and try it for yourself. Trade one clearly written strategy on one security.

Design your own strategy because it's a personal thing, we can't trade other people's strategies.

If you enjoy it, continue.
The hard part is rewiring your brain, Mark Douglas, Van Tharp, Brett Steenbarger are good authors on psychology.
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Old Dec 5, 2011, 10:15am   #34
 
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Re: Where do I start?

Consider your answer to my last post Frank, but time will not run out if you haven't worked it out yet.
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Old Dec 6, 2011, 4:15am   #35
 
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Re: Where do I start?

Get an account at a reputable broker like IB or Optionsxpress which is what I use. Start with ten grand and trade futures. Start by following the ES, TF and NQ. Start with one contract at a time. Learn all you can about supply and demand levels and mark them on your charts. Add the 50 and 200 day EMAs and parabolic SAR for a visual cue. Use MACD and Stochastics for divergence and cross overs. Stock settings on Macd and 10,3, 3 on Stoch. You are looking for two kinds of signals. TCOs and Confirmations. TCOs are Trend change origins..aka bottoms or tops. Confirms are higher lows in an uptrend or lower highs in a downtrend. The signal either is or is not what it appears to be...let the market tell you. It will either turn out to be what it appears or it won't. If for example you have a potential bottom, with a nice distance to the 50 EMA (what I call a cushion)and the price action starts to roll over but fails and puts in a nice bullish engulfing candle then you may have a buy. If it rolls over and breaks the recent low and the next demand level is ten points down, then you may have a sell. The factors you want to study to make this determination are: Is price at Supply or Demand? Is there divergence on the oscillators? Has price recently broken the nearest EMA or Zone? Is there a cushion to nearest average or Zone? If it looks good then enter. The nature of the game is this: You will never know with absolute certainty if any given signal will or will not work...the best you can do is stack the odds heavily in your favor, cut any losses off immediately and let the market tell you when to get out. This maximizes profit potential and minimizes risk. I use one minute candles for pinpoint accuracy and they expose the most clues if you know what you are doing. Put in as much screen time as you can while following the above...given enough time...trading will actually become easy.
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Old Jan 7, 2012, 2:43am   #36
 
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Re: Where do I start?

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Originally Posted by Stirf View Post
Agree with Natureboy. The post (quote) above is a classic example of a scammer. I wonder however, where did the starter of the thread go? Did he duped us all, by starting a thread just to keep the traffic on this forum going... :rolleyes Oh well.
Gotta reign in here, does anyone else feel like punching binary trader in the eyeball. Fair play n all for trying to make a few quids but are people really duped by this? Im brand new to trading myself (3months or so) and even I in my capacity as a newbie can see that that this is obvious self proclamation!! The more I read the more I realise that trading is all about personal endurance, similar to any sport or scientific field. It is my most humble opinion that those who succeed are those who work the hardest, those who absorb the most information and make their decisions based on the information that is presented before them and not on the personal opinions. Jesse Livermore said that the markets are NEVER wrong, it is only the opinions of the market that are wrong!!
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Old Jan 7, 2012, 2:47am   #37
 
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Re: Where do I start?

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Originally Posted by Blackthorn View Post
Gotta reign in here, does anyone else feel like punching binary trader in the eyeball. Fair play n all for trying to make a few quids but are people really duped by this? Im brand new to trading myself (3months or so) and even I in my capacity as a newbie can see that that this is obvious self proclamation!! The more I read the more I realise that trading is all about personal endurance, similar to any sport or scientific field. It is my most humble opinion that those who succeed are those who work the hardest, those who absorb the most information and make their decisions based on the information that is presented before them and not on the personal opinions. Jesse Livermore said that the markets are NEVER wrong, it is only the opinions of the market that are wrong!!
lol this was ment as a reply to Stirf!!
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Old Jan 7, 2012, 11:04am   #38
 
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Re: Where do I start?

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Originally Posted by Blackthorn View Post
Gotta reign in here, does anyone else feel like punching binary trader in the eyeball. Fair play n all for trying to make a few quids but are people really duped by this? Im brand new to trading myself (3months or so) and even I in my capacity as a newbie can see that that this is obvious self proclamation!! The more I read the more I realise that trading is all about personal endurance, similar to any sport or scientific field. It is my most humble opinion that those who succeed are those who work the hardest, those who absorb the most information and make their decisions based on the information that is presented before them and not on the personal opinions. Jesse Livermore said that the markets are NEVER wrong, it is only the opinions of the market that are wrong!!
You mean that you BELIEVE that Traders can ever be Wrong? WTF?
:whis tling
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Old Jan 7, 2012, 7:30pm   #39
 
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Thumbs down Re: Where do I start?

Quote:
Originally Posted by Blackthorn View Post
Gotta reign in here, does anyone else feel like punching binary trader in the eyeball. Fair play n all for trying to make a few quids but are people really duped by this? Im brand new to trading myself (3months or so) and even I in my capacity as a newbie can see that that this is obvious self proclamation!! The more I read the more I realise that trading is all about personal endurance, similar to any sport or scientific field. It is my most humble opinion that those who succeed are those who work the hardest, those who absorb the most information and make their decisions based on the information that is presented before them and not on the personal opinions. Jesse Livermore said that the markets are NEVER wrong, it is only the opinions of the market that are wrong!!
I understand you still have a lot to learn.
Markets can be wrong..., time will tell you.
Good luck.
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Old Jan 8, 2012, 5:18pm   #40
 
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Cool Re: Where do I start?

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Originally Posted by js838659 View Post
Hi all,

I'm a newbie in this forum and a newbie in Forex too. I can find a lot of informations in the internet about forex. How can you trade day by day? After a few hours I totally off... Very hard work! What do you do to fill your body's energy?

I found something interesting here: FX World Freedom
The page said I will get a free copy of the product if I ask something. It's a good deal for me.
So what do you do to fill your body's energy? How do you relax or... whatever.


Thanks
Fx Freedom?..., and they need you to answer that question?, dont waste your time. They will promise to make you as rich as you have neve dreamed in a couple of nights, you will be paying some bucks for a useless material or a brainless program, agt the end you will be loosing not only time and money, also your confidence.
I guess you better study and learn as much as you can, there are plenty of material around and always keep in mind, !) the trend is your friend and ) dont use real money until you have developed and forward tested your trading method.
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