A complete Novice

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loweryrealty

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:clap::clap:Hi room I been pitched about 10 different memberships to learn to trade stock currencies. They all seem to be concerned with making a sale and I can't tell who is over promising and misrepresenting what they are capable of doing. I am told this the place to come to get real a life experience without being pitched. So thanks for having I am full of energy and looking to get started right away so please give me as much advice as you like I welcome all of your input.:clap::clap:
 
No need to pay any money - hunt around and all the basics are available for free. Forex is full of scams, after all, if they could really make the profits they claim they wouldn't be wasting time and energy selling systems.

Don't get ripped off! And what is 'stock currencies' anyway? You mean stocks or currencies? On the asumption you mean currency, get yourself any old Metatrader demo and practice, practice, practice. Then, trade with the smallest size possible because real money trading is very different from demo trading!

Take is slow and easy and maybe you'll get there!
 
welcome.
first advice would be to bin all those pitches you've received.

read the FAQs and Newbies sections here to start to get an understanding of what's going on, then when you're ready take a look at trader_dantes thread, captain currency's 3 ducks thread plus the stuff by rhody trader etc.
then decide what seems to suit you best - intra-day trading or longer term (hours, days, weeks ?) and what vehicle interests you or inspires you - stocks, index futures, commodity futures, currency futures, spot forex etc

meanwhile, I strongly recommend that you pick up a copy of John Carter's "Mastering the Trade". More than just technical analysis, Carter goes into depth about the characteristics of some of the vehicles I mentioned above; plus he's strong on the typical newbies' weakest area - psychology.

you can also get Carter's free daily video clip by logging onto his site at tradethemarkets.com
I'm not affiliated in any way with Carter, i just think he's great !! His videos are the best eductaion you'll ever receive on the markets, free or otherwise.

good luck, hope it helps,
r_e

(and PLEASE drop all the smileys :) )
 
I am lost not sure were iI can gain direct access without dropping a load of cash. I am not sure what questions I need to ask and I have been trying to get as much info as I can reading different adds.I would love some help.
 
Info from ads? That's going to be very biased.

Unless you can come up with the right questions, it's difficult to offer advice!
 
loweryrealty said:
I am lost not sure were iI can gain direct access without dropping a load of cash. I am not sure what questions I need to ask and I have been trying to get as much info as I can reading different adds.I would love some help.
Click to expand...

Books. Read books. I'd start with the one recommended by r_e. I've not read it personally but a book that comes with a recommendation is a much better start than reading adds for advice.
 
Okay guys, what is the min dollar amount that is needed to open an account to trade, allowing direct access to the market? I will start there and I will see were it goes after I get going. I am sure to have questions after I begin trading. I keep reading different material and I get pulled in more different directions, being introduced to more markets and more ways of trading. It is all a bit confusing. Give me the simplest market to begin with, even if it doesn't bring in big money. The more I trade the more I will learn.

Thanks in advance for all of your help
Will
 
tradestation securities is $5,000
infinity futures is $2,500
I think some of the forex houses require only $1,000 (i stand to be corrected?)

but we still don't know what you mean by "stock currencies " as per your original post.
if you can give us a better idea of what interests you, we may be able to give more specific help, but it's hard to generalise when "trading' covers a multitude of instruments - individual stocks, options on stocks, single-stock-futures, indeces, options on indeces, futures on indices, spot forex, currency futures, commodity futures (metals, Ags, energy etc)
each with their own quirks, opportunities, risks and characterstics .........
 
thanks again

Not really sure what I should trade stocks or currencies or any of the many others instruments that I have recently learned about.Not sure how to correct my original post I meant stocks or currencies. Can you share with me what you trade and how you trade it? The next question is how do I create a plan and not just roll the dice?


rathcoole_exile said:
tradestation securities is $5,000
infinity futures is $2,500
I think some of the forex houses require only $1,000 (i stand to be corrected?)

but we still don't know what you mean by "stock currencies " as per your original post.
if you can give us a better idea of what interests you, we may be able to give more specific help, but it's hard to generalise when "trading' covers a multitude of instruments - individual stocks, options on stocks, single-stock-futures, indeces, options on indeces, futures on indices, spot forex, currency futures, commodity futures (metals, Ags, energy etc)
each with their own quirks, opportunities, risks and characterstics .........
Click to expand...
 
If you're interested in spot forex read Forex Training & Education: Beginner Foreign Exchange Currency Trading all the way through.

Hell read it all the way through anyway - You'll get a lot out of it. Once you've read it, read it again and understand it completely you'll be in a better position to ask questions.

Can you share with me what you trade and how you trade it?
Click to expand...

You're effectively asking people to give away their edge there.

Asking about how best to go about creating a trading plan is the right sort of question and one people will be more willing to answer. Asking for assistance in working things out for yourself is usually much better received than just asking how to trade. You'll find good information on that in the website I linked about creating your own trading plan.

Hope that helps.
 
OK - I have moved from money rich time poor to time rich and money poor - otherwise known as redundancy. However, I have an active curious mind and some capital which I need to find a way of growing - hence my interest in trading. Quite fancy the equity market - anyone out there got some good ideas on steps to learning and what tools I should need?
 
forgive me

I am innocent with my intent. I do understand your postions . Please forgive me!

Vrothdar said:
If you're interested in spot forex read Forex Training & Education: Beginner Foreign Exchange Currency Trading all the way through.

Hell read it all the way through anyway - You'll get a lot out of it. Once you've read it, read it again and understand it completely you'll be in a better position to ask questions.



You're effectively asking people to give away their edge there.

Asking about how best to go about creating a trading plan is the right sort of question and one people will be more willing to answer. Asking for assistance in working things out for yourself is usually much better received than just asking how to trade. You'll find good information on that in the website I linked about creating your own trading plan.

Hope that helps.
Click to expand...
 
mysia said:
OK - I have moved from money rich time poor to time rich and money poor - otherwise known as redundancy. However, I have an active curious mind and some capital which I need to find a way of growing - hence my interest in trading. Quite fancy the equity market - anyone out there got some good ideas on steps to learning and what tools I should need?
Click to expand...

Redundancy+capital+futures trading+inexperience is one dangerous concoction.

Remember, two things.

1. It's a jungle out there and

2. They want your money.

Good luck and be careful

Split
 
mysia said:
OK - I have moved from money rich time poor to time rich and money poor - otherwise known as redundancy. However, I have an active curious mind and some capital which I need to find a way of growing - hence my interest in trading. Quite fancy the equity market - anyone out there got some good ideas on steps to learning and what tools I should need?
Click to expand...

1. Put your money somewhere safe
2. Study these boards
3. Practice until you are confident you and your system work
4. When ready, start small with real money
5. Constantly review your progress and re-iterate thro' 1-5 as necessary.

Good luck. :)
 
Last edited:
loweryrealty said:
:clap::clap:Hi room I been pitched about 10 different memberships to learn to trade stock currencies. They all seem to be concerned with making a sale and I can't tell who is over promising and misrepresenting what they are capable of doing. I am told this the place to come to get real a life experience without being pitched. So thanks for having I am full of energy and looking to get started right away so please give me as much advice as you like I welcome all of your input.:clap::clap:
Click to expand...

A couple of pointers

How to interpret a price chart
1.incrediblecharts.com then click free education
2. stockcharts.com then click chart school

Psychology Books/Websites
1. Mark Douglas - "Trading in the Zone" / "The Disciplined Trader"
2. Jack Schwager - The Market Wizard Books
3. brettsteenbarger.com
 
Mastering The Trade, John F Carter

I will pick up this book today and I don't know how many pages bit I will read it in all of my free time. I will let you know as soon as I have completed it. Thanks


rathcoole_exile said:
tradestation securities is $5,000
infinity futures is $2,500
I think some of the forex houses require only $1,000 (i stand to be corrected?)

but we still don't know what you mean by "stock currencies " as per your original post.
if you can give us a better idea of what interests you, we may be able to give more specific help, but it's hard to generalise when "trading' covers a multitude of instruments - individual stocks, options on stocks, single-stock-futures, indeces, options on indeces, futures on indices, spot forex, currency futures, commodity futures (metals, Ags, energy etc)
each with their own quirks, opportunities, risks and characterstics .........
Click to expand...
 
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