Iím New To TRADING Ė Where Do I Start?

This is a discussion on Iím New To TRADING Ė Where Do I Start? within the First Steps forums, part of the Reception category; Originally Posted by T2W Bot SHORT ANSWER If youíve just joined T2W Ė welcome! First things first, if you havenít ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Aug 27, 2013, 11:40am   #33
Joined Aug 2013
Quote:
Originally Posted by T2W Bot View Post
SHORT ANSWER

If youíve just joined T2W Ė welcome!
First things first, if you havenít done so already, check out this Sticky: [FAQ] Iím New to T2W Ė Where do I Start? Thatís 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 - whoís who and whatís what etc. Once youíve read it, youíll 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 youíre 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. Youíre 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 Ďretailí trader). For new traders who donít 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 youíve completed steps 1-3, one of two things will happen. Either youíll be bored to tears by the whole subject or youíll be unable to sleep at night because youíre just soooooo excited! If your rubbish bin is rapidly filling up with spent packets of Mogadon, then youíll probably be ready to move on to step 4.
That's good for us.

To be honest I know very little about trading myself but I will try to point out some helpful things, I have always quite liked the idea of having a go, maybe open an account, put a small amount of money on it and see what happens. I do know that if you wanted to deal in shares then you would have to put down the full amount/cost but if you used CFDs then you only need to put down a percentage of the amount/cost plus you donít have to pay any stamp duty. I know that a couple of my friends have used a company, they have tutorials on YouTube which are quite helpful, and everything that is discussed is explained clearly and may help give you a better idea of where to start.

Last edited by timsk; Aug 27, 2013 at 1:29pm.
lucas_king is offline   Reply With Quote
Old Aug 28, 2013, 5:12am   #34
Joined Jul 2012
i recommend open fx account, minimum as low as $200. dont play with stocks or cfd.. capital requirement too high you will easily get hurt, unless you have plenty of spare cash
cointoss is offline   Reply With Quote
Old Sep 11, 2013, 10:19am   #35
Joined Sep 2010
Quote:
Originally Posted by Mightypen View Post
The forex is the largest and most liquid market. On entering such honorary markets, you quickly get your bladder full (anxious). But this is not what you need. The market is very busting- but we must admit it could be morally unkempt so you need to be very cautious. I suggest you start with mini account and demos as well so that you understand the countenance of the market better. When choosing broker, review closely his spreads and commissions, his leverages, trading platform, software in use, payment means, customer support etc. Most especially, try investigate seriously his accountability as the forex could be funny as even regulated brokers can threaten your positions- take for example the popular business Trial Group of Morgan & Morgan, P.A. filing a class action lawsuit today against the honorable Forex Capital Markets, LLC (FXCM) (NYSE:FXCM) alleging fraud and racketeering. You could be safe and rich even with a broker not regulated- IT ALL BOILS DOWN TO CALCULATED CAUTION.
Regulation does not mean purer than the driven snow.
It means you know where the broker actually is,
you know they are less likely (but not immune from going bust).
They are less likely to disappear with your money or make it difficult to withdraw.
Thats it, still no guarantee, but safer than no regulation.
Wearing a seat belt is no guarantee you won't crash, it just reduces
the risk to you should that happen - same with regulation.

Not that I'm writing this for your benefit, its pretty clear you are
a troll, spammer in waiting or outright tard
Liquid validity is offline   Reply With Quote
Old Sep 18, 2013, 11:58pm   #36
Joined Jul 2010
Quote:
Originally Posted by neil View Post
Oh ffs, where do these people come from !!!
hes not wrong.you have to control your emotions.
aag100 is offline   Reply With Quote
Old Sep 21, 2013, 7:56am   #37
Joined Aug 2012
Quote:
Originally Posted by MargaretLekker View Post
Very good advice, is though it is necessary to have a good time to read everything calmly and interpret each tip. Merchants experience is reflected in the good results.
Hi,how to trade simple, when the market rises go long.When the market falls go short.If the markets is consolidating do nothing don,t trade.There you go simple ,a bit like most of the simpltons on this forum,most of whom do not trade or are failed traders.
Margaret,go and learn the basics of the forex market and i mean the basics you need to have an understanding of that first,(belive me this is a long road)However you need an understanding of the forex market what makes it?How does price move? Why does price move? what is liquidity? what is supply and demand?What is Depth of market? how do you see who is trading what?Where are the orders.Which currency is strong this morning which is week.Fundementles and Tech anay.Thats for starters then comes experiance, and a feel for your chosen crosses.A broker .Well an ECN one that has depth of market.Or trade Futures.So Margaret a lot to learn and although the start of this post is true and simple ,oh how it is not that simple.A good website for you ,writen by a women for women primarily but of course us males use it .She,s a trader and an educator her name is Anna and her webbsite (which is extensive to say the least) is called Making Bread.Good Luck Margaret.Regards Mike.P.S if you want any advice please ask,and just to clarify there are some good traders on t2w better than i will ever be find out who they are and never be afraid to ask we all started at the begining,and the road never ends.When you have opened an account Margaret you can ask about Money Management and how it works its the MOST IMPORTANT ASPECT OF TRADING.Without it you are sunk and finished before you startMike

Last edited by redtag12; Sep 21, 2013 at 8:05am. Reason: added
redtag12 is offline   Reply With Quote
Old Sep 21, 2013, 2:01pm   #38
 
2 Posts
Joined Sep 2013
Hi Everybody

Im Li Li and Im new to this site and and also new share trader/investor. Just wanted to say hello. Got to get use to this site first.
Li Li is offline   Reply With Quote
Old Sep 25, 2013, 6:07am   #39
 
2 Posts
Joined Sep 2013
Hi

Im still new. I have been reading books about technical indicators and looking for scanning software which are not expensive or free for ASX Australia market. For eg, I could add in ADX indicator etc. Play around the indicator. Can somebody help me and advise me which software is good for ASX Australia market.
Thanks.
Li Li is offline   Reply With Quote
Old Sep 25, 2013, 8:29am   #40
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Quote:
Originally Posted by Li Li View Post
Hi

Im still new. I have been reading books about technical indicators and looking for scanning software which are not expensive or free for ASX Australia market. For eg, I could add in ADX indicator etc. Play around the indicator. Can somebody help me and advise me which software is good for ASX Australia market.
Thanks.
Hi Li Li,
Welcome to T2W.

If you're wanting technical (TA) analysis software so you can apply TA indicators to charts, then just about anything will do as the vast majority of packages available will have a good range of standard indicators including ADX. If you choose a U.S. or European based firm, the only possible issue that you may encounter is data. Most will provide data for the main equity index, but data for individual equities within the index and other Australian markets may be a little harder to come by. Obviously, if you opt for an Australian data provider - then this shouldn't be a problem.

As for specific details about which one to opt for - check out this FAQ: Can You Recommend a Data Feed, Charting Software & Broker?
Enjoy!
Tim.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING Ė Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
I want to start trading! liorules First Steps 27 Jul 1, 2013 1:49am
When did you start trading? Rhody Trader First Steps 14 Jun 26, 2012 5:12pm
How do I start trading? daytraderme First Steps 2 Apr 14, 2011 9:22am
Help to start trading ES ipoppy Futures & Options 2 Dec 14, 2010 8:37pm
I want to start trading panduga First Steps 4 Nov 21, 2010 8:47pm

Currently Active Users Viewing This Thread: 2 (0 members and 2 guests)