How do you select your trades and other advice please

Gordon8,
one FTSE swing trading method is based on Wilders Trend Reversal System.

The method is described in detail here: http://eurostoxx50.co.uk/cgi-bin/yab...num=1059150013

The daily stock details for the system are here: http://www.eurostoxx50.co.uk/wilder.php

Good luck!

Gordon8,

>Thanks for the advice - Sounds very sensible to me. The problem is being a woman, I feel
the need to know everything before I more than dip my toe in the water !!<

So is Helen, and thats exactly why I enjoy her recommendations.

Regards

Hittfeld

Gordon8

I swing trade over 1 to 10 days.

Mostly I draw from ftse 100 shares and particularly the top 14.

If you keep monitoring those 14 you will build up a good feel for
them and it's not too onerous. Test out whatever TA appeals
to you for your entry points and then experiment with small
stakes until you build up confidence. Then, as everyone has said,
it's all about money management.


good trading

jon

gordon8
I personally went straight into day trading... but in my case i had been reading the subject with great interest for many years previously, and this was what suited ME. You already have an idea of the way you want to trade ie medium term trends and that is a style to build around.
There are numerous ways to get into trading and if you go down the spread bet route then your style will be fine to trade this way.
However i would like to add that if you decide that you want to day trade then i would suggest skipping the SB companies and getting £3k/5k together and go with a broker as what you will loose in the spread and missed opportunities will not benefit you compared to having a tax free bet.

FTSE Beater has an excellent thread all the information on how to trade is in there and believe me you dont need a lot of fancy math indicators, the basic TA stuff is all most of the experienced traders use so dont be fooled into thinking that we are doing something different because we are not

Wishing you successful trading

Gordon 8

I have been trading for a year and so I'm not so very far from where you are but what I have learnt is:

1) Whatever system you use for determining when and how you trade keep it simple and keep to it.

2) The most important part of trading is risk and trade management, I swing trade and at any one time will have up to a dozen open positions some long some short, every one of those has a minimum risk to reward ratio of 3:1 and every one a strict stop. What this means is that I can be wrong three times out of five and still make a good profit. Also once in a trade keep to your exit plan.

3) The most important part of a trading system is yourself, before I traded I thought of myself as fairly level headed and diciplined and couldn't immagine that my emotions would overcome my common sense. I was wrong and I still find it difficult to discipline myself at times. You will be amazed at how much trading will teach you about yourself.

If you wanna trade UK stocks you did well to get Sharescope

You can make trading as simple or as complex as you like

If you look at Sharescope - inside each candle is an intra-day chart and some people can trade it while others just regard it as noise

Swing and position traders will look at intra-day to refine there entry and exit and of course if theres a quick profit to take it

But you really need to be looking at the bigger picture first and formost and your find that with Sharescope

Dont waste too much time on Indicators - a lot of people try them and bin them

Create a watch list of high volume stocks - track 50 and focus on 10

Look for support and resistance levels, and draw your own trend lines on the chart

Finally choose a SB company where the spreads are tight.

Hope this helps

Colin

This is all very encouraging! - wish I had time right now to 'play' with some of the ideas you have suggested and see which suit me best but work/paying the mortgage calls for the moment!

Just a couple of questions:

Davegos - you mentioned a minimum risk to reward ratio of 3:1. How on earth do I calculate that please?

Colin Richie - Sorry to be so thick (blame it on my parents!) but what is an SB company?

SB = Speadbetting company

I'd recommend cmc deal4free