Iím New To TRADING Ė Where Do I Start?

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Old Oct 28, 2017, 1:01pm   #196
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Hello,I am new from this forum please help me to join it,Thanks.
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Old Oct 29, 2017, 4:12pm   #197
 
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Originally Posted by rakhi123 View Post
Hello,I am new from this forum please help me to join it,Thanks.
Hello and welcome to the forum!
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"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

Count de Money number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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Old Nov 9, 2017, 8:11pm   #198
 
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are you still trading ?.is there a way you can mentor me to trade please?. i am at cross road and I would like this to work.


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Originally Posted by jansher21 View Post
Guys,

Having been through this and eventually made it through to being profitable, I really would say that the best way to learn how to trade - is to find a successful mentor.

For me, this was finding a very good signals service - which gave profitable signals while I was learning the skills associated with trading .. from the providers.

Do not pay for trading courses, unfortunately they are only designed to make money for those selling them. If the author is that good, then they should be able to list their recent trades for you.

Vince Stanzione is a very good example, of someone who pretends to be a really good guy who actually trades. It's all crap - he trades a little bit, if you ask him for his precise entries and exits ... "I don't release such information". Vince though, does make alot of money from some very slick marketing. Don't be sucked into it like I was !!!

As above, I would really urge people not to pay $1k for any course - they are all recycled versions of the same thing.

Best of luck to you all.
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Originally Posted by jansher21 View Post
I would really suggest taking a step back from some of the detail mentioned above. Not wishing to take anything away from the relevance or correctness of the advice - I would say that a beginner needs a guiding hand and mentor.

This may attract flaming, but I would suggest that you do not pay money for courses as pretty much everything is regenerated from a bunch of similar themes - all of these are available on the internet in various places for free.

Find someone who is demonstrably a good trader, that means find someone actually making money from trading - and not making money charging you for courses/"special consultation time".

How do you judge this :

1) - Look at their track record, have they been trading profitably for longer than 2 years. Even better - have then been trading profitably for longer than 5 years.

2) - What are their results. Check this, by looking for precise trades - entries and exits.

Anyone not able to show this - does not fit the bill

3) - Look for people managing significant account sizes, preferably > $10m - but this isn't always as important as the (1) and (2) - although after 5 years of trading well most are trading larger sized accounts.

If anyone is trying to help you, they need to know what they are talking about themselves first.

In my humble opinion : In trading, you can talk about whatever you want - but in the end it's cold hard cash that we are here to earn.

As will all of my posts, people can get in touch with me if they want to know how I do it.

Take care and good luck guys,
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Old Feb 8, 2018, 7:40pm   #199
 
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Hello! I'm a new guy here. Just want to know: can I start forex trading with some $50? Or do I need to deposit more money?
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Old Feb 12, 2018, 10:00am   #200
 
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Originally Posted by sageon View Post
are you still trading ?.is there a way you can mentor me to trade please?. i am at cross road and I would like this to work.
Here are "5 Successful Short-Term Trading Rules

1) The odds are in your favor when you trade with the major trend.
2) Always trade using stops. Never cancel a stop.(Keep in mind that
STOPS don't always work)

3) Plan your trade and trade your plan.
4) Never try to pick tops or bottoms, the market may surprise you.
5) Go with the flow. Donít fight the markets.
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Thanks! The following members like this post: Quantt
Old Feb 12, 2018, 11:49am   #201
 
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Originally Posted by Penny Picks View Post
Here are "5 Successful Short-Term Trading Rules

1) The odds are in your favor when you trade with the major trend.
2) Always trade using stops. Never cancel a stop.(Keep in mind that
STOPS don't always work)

3) Plan your trade and trade your plan.
4) Never try to pick tops or bottoms, the market may surprise you.
5) Go with the flow. Donít fight the markets.
Oh, wise words! Thank you.
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Old Feb 12, 2018, 4:11pm   #202
 
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Originally Posted by Luckiest Luke View Post
Oh, wise words! Thank you.
Just an explanation of why S/L doesn't always work. This applies to a lot of the other markets as well
1.Commodities
2.FX
3. The energy markets.

This started out as a pretty good 'Penny Trade' but as with a lot of things there might be some "Walking Dead" hiding in the closet.

I could have bailed, or at least saved some of the investment. Oh well. It might just come back when the trader of traders smiles down on a dumb trade plan.
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Old Feb 14, 2018, 4:13pm   #203
 
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Strategy by SMB Capital for the US stock market

For those who start trading in the stock market, i recommend this review of day trading course. This course was created by the company SMB Capital. This is a detailed review of the strategy for the US stock market: tradinglab.tech/en/
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Old Feb 15, 2018, 5:52am   #204
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Thanks for the detailed response
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Old Mar 6, 2018, 8:06am   #205
 
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Do you have any books that you could recommend for a first time trader?
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Old Mar 6, 2018, 2:55pm   #206
 
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Originally Posted by AlexCZ View Post
For those who start trading in the stock market, i recommend this review of day trading course. This course was created by the company SMB Capital. This is a detailed review of the strategy for the US stock market: tradinglab.tech/en/
I would avoid this company based on number of negative reviews:

"...Or SMB trading, which suckers in college age kids from campuses and sells them on the dream of becoming a prop trader and making their parents proud, only to market a several thousand dollar trading course that is tailor made to sell to naive parents. Most of these kids have no idea what they are getting into and drop out within a few weeks. Once again, avoid any prop trading firms that have a ďpay to playĒ policy..."

https://www.tradingschools.org/propr...ng-firms-2015/
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

Count de Money number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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Old Mar 6, 2018, 3:25pm   #207
 
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Great Information!
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Old Mar 28, 2018, 10:12am   #208
 
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Originally Posted by T2W Bot View Post
SHORT ANSWER

If you’ve just joined T2W – welcome!
First things first, if you haven’t done so already, check out this Sticky: [FAQ] I’m New to T2W – Where do I Start? That’s the starting point for ALL new members, regardless of your trading experience. It contains a list of 12 mini-FAQs which cover the basics about T2W - who’s who and what’s what etc. Once you’ve read it, you’ll have a good understanding of what a fantastic resource the site is, how to get the most from it and, hopefully, how best to contribute to it.

New to trading?
Okay, if you’re not only new to T2W, but also new to trading, then this is the FAQ for you. (If you happen to be a multi-millionaire fund manager, please read it anyway and tell us how we can improve it!) Trading is a very large subject and T2W is a very large website. You’re welcome to just follow your nose and see where it leads, or you may prefer to take a more structured route to accelerate your learning curve. If so, we have . . .

A simple 4 step plan
The Long Answer below provides a simple 4 step plan designed to give you a good insight into the world of the self taught and self funded trader working from home (known as a ‘retail’ trader). For new traders who don’t know where to start, this is the perfect introduction to the subject. Completing steps 1 to 3 will take around ten to twenty hours. At that point you will have enough information to be able to make an informed decision as to whether or not trading is for you.

100% guarantee
Yup, the 4 step plan comes with a rock solid guarantee. Once you’ve completed steps 1-3, one of two things will happen. Either you’ll be bored to tears by the whole subject or you’ll be unable to sleep at night because you’re just soooooo excited! If your rubbish bin is rapidly filling up with spent packets of Mogadon, then you’ll probably be ready to move on to step 4.

Use FXCM as your Broker and use their TradeStation charts.

A Simple Moving Average Trading System which I have used for many years.


SMA 3x13X39 = Profit
I want to address a question commonly asked by those who are computer phobic, techno confused and Internet allergic, "What is a good simple system to follow, to get in and out of markets?".
Most people are comfortable with the herd. Such good folk is most comfortable with a trend following system. I am ill at ease in a pack and downright anxious when everybody and his dog are comfortable saying the same thing. I am, therefore, drawn to oscillators to anticipate the end of popular perception. Oscillators also give an insight into the cyclical nature of markets. Being obsessed with market structure and somewhat compulsive in my quest for efficiency my ways are not 'comfortable' for many. So to get back to basics for those not able or willing to devote the time to market study that I do here is a way to handle your market study and trading decisions.
Remember the numbers 3 x 13 x 39 = Profit
Simple daily moving averages of 3,13 and 39 can keep you in and out of markets fairly efficiently and profitably, (in any time frame actually). I will show you how.
Some basic principles to hang on to are:
∑ The market moves in long (secular) trends which may last years, e.g. the present equity bull market dates from 1982.
∑ Intermediate trends lasting many months, even a couple of years or so.
∑ Short term trends lasting weeks or months.
∑ Trade intermediate trends in either direction.
∑ Trade short-term trends only in the direction of the intermediate trend.
Proxies:
∑ 3 Day MA - a proxy for price
∑ 13 Day MA - a proxy for the short term trend (a moving trend line)
∑ 39 Day MA - a proxy for the intermediate trend (a moving trend line)
∑ 40 weeks, 200 day MA - a proxy for the secular trend (a moving Trendline)
The Basics of MAs
MAs lag market reversals at tops and bottoms, the larger the MA the longer the lag period, the shorter the MA the shorter the lag but the more frequent the whipsaws. MAs work well when markets trend but get frequently whipsawed when they are in a range.
Therefore, trade trends with the MAs but do not trade ranges using MAs. Just stand aside and be patient until a new trend emerges.
The intermediate trend is in the direction of the 39 MA which acts like a moving trend line. If the 39 MA is pointing up then the intermediate trend is up, if down the trend is down. If the 39 MA is horizontal the market is in a range, from which a trend will, sooner or later, emerge.
Simple Trading Rules
1. When the 39 MA is moving up buy when the 3 MA crosses up over the 13 MA. and/or when the 3 MA crosses above the 39 MA. When the 13 MA crosses above the 39 MA consider adding to your long position. Exit and stand aside when the 3 crosses back below the 13 MA.
2. When the 39 MA is moving down sell short when the 3 MA crosses below the 13 MA. and/or when the 3 MA crosses below the 39 MA. When the 13 MA crosses below the 39 MA consider adding to your short position. Exit and stand aside when the 3 MA crosses back up over the 13 MA.
3. Only initiate trades in the opposite direction of the intermediate trend when the 3 MA crosses above or below the 39 MA, preferably after the 39 MA has already changed direction.
4. This 3:13 MA crossover will keep you trading in the trend with only a small lag and on the sidelines during corrections. The lag only becomes more substantial at reversals of the intermediate trend (a 3:39 crossover), a small price to pay at these uncertain times of trend transition.


Aids to Interpretation
∑ When the 3:13 crossovers occur at some distance from the 39 MA then you are 'likely' dealing with a short-term correction (even though it can be substantial) to the 39 MA.
∑ If the 3:13 & 39 MAs are close and converging before crossing over you are 'likely' dealing with an intermediate (or significant) correction of the trend or reversal.
∑ 'Likely' means probably not 'you can bet the farm on it' surety. There is no sure thing just as there is absolutely no free lunch.
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Last edited by Trader333; Mar 28, 2018 at 1:49pm.
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Old Mar 28, 2018, 2:29pm   #209
 
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Originally Posted by philhackett View Post
Use FXCM as your Broker and use their TradeStation charts.

A Simple Moving Average Trading System which I have used for many years.
Very interesting, how many years you have been using / back testing it and what are the average yearly returns? Thanks!
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

Count de Money number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
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Old Mar 28, 2018, 4:18pm   #210
 
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Awesome thread. Thank you .
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