Essentials Of 'First Steps'

timsk · Feb 14, 2013, 5:40am

Hi knocklyonbohs,
Welcome to the site.

Quote:

Originally Posted by knocklyonbohs

If I wish to trade indices live on a daily basis which time frame on TA charts is it best to set at.

If you mean you wish to open and close trades on an intra-day basis, then most traders tend to use timeframes of an hour or less. However, this is a generalisation and there's no particular time frame that's better than any other. Some traders prefer to dispense with time based charts altogether and, if they use charts at all, prefer to use non-time based charts such as Point & Figure or Renko. For more info' about charts, timeframes and TA, check out this Sticky: Essentials Of Technical Analysis

Quote:

Originally Posted by knocklyonbohs

Also is the M A breaking the trend line a good criteria to work on. I using the word trend line as in the line showing stock price movement.

No one can answer this for you. Your results will tell you if the idea has merit or not. Look at your success and profit ratios and work out whether or not you have a positive expectancy. If you have, you're in business. If you haven't, you will need to figure out why not and make any necessary adjustments which may (or may not) include the use of MAs breaking trendlines. If you're unfamiliar with any of these terms - they are all explianed in detail in this Sticky: Essentials Of 'Risk & Money Management'

Quote:

Originally Posted by knocklyonbohs

Am I mad considering trading indices with only demo account experience. I have been trading dax,cac,ftsi,dow and done quite well with above strategy. Seems a very basic strategy but maybe I lucky.

There's nothing wrong with 'basic' - most experienced traders advise keeping things as simple and as straightforward as possible. If what you're doing works for you - stick with it and don't worry about what other people think. If you get stuck, you can always ask for help from fellow T2W members. There's a good recent example of the sort of feedback you can expect in this thread: Stuck

Tim.

Johm Mill · Mar 1, 2013, 6:25am

You guys have done a great job.
It is very necessary to have a good plan before trading in forex market. One should always trade smartly, by not risking too much and trading in a limit.
Hope to get more form you soon.

Yes above mentioned steps are the necessary steps for a forex trader while beginning the trading in forex market. One should make a good strategy before trading in the market.

richarda47 · Apr 8, 2013, 10:14am

Quote:

Originally Posted by timsk

Welcome to the Essentials of First Steps Sticky. ‘Essentials’ Stickies are threads that are ‘stuck’ to the top of a forum index. They contain information about the forum you’re in that is of critical or ongoing value - hence the ‘Essentials’ name. If there’s anything missing from this Sticky that you hoped or expected to find, please contact timsk, T2W Content Manager and, if at all possible, it will be added.

What is the First Steps Forum? - See Post #2
This ‘Essentials’ Sticky, plus the ‘Best Threads in the First Steps Forum’ Sticky and the Trading FAQ sub-forum are the places for new traders to immerse themselves for an introduction to the subject of trading the financial markets. Specifically, this Sticky is divided up into three main sections, of which the ‘What is the First Steps Forum?’ is the most important. The other two – outlined next - will make more sense if you’ve read this one first!

T2W First Steps Tips & Tools - See Post #3
This section of the Sticky aims to offer members a practical overview of this vast subject with a FAQ section which covers the basics from ‘What do I Need to get Started?’ to ‘Where do I Go from Here?’. There’s also a glossary of terms, as well as an overview of popular mechanisms for trading the markets including Spread Betting and Contracts for Difference (CFDs).

Other Resources on T2W & Beyond - See Post #4
Beyond the First Steps forum, the next best resource for new and aspiring traders is the Articles section of T2W, which can be accessed via the ‘Articles’ tab mid way along the red menu bar at the top of the page. There are lots of excellent contributions, including an entire section devoted to beginners, also entitled ‘First Steps’, which is located under the sub-heading ‘Getting Started’ in the Topics panel on the left hand side of the page. Besides the Articles section, we’ve also highlighted a handful of books, videos and other websites with quality information.

Hi Tim,

Having traded with many companies over the past 7 years, would it be pertinent at all to advise new and existing traders of some of the pitfalls of spreadbetting, as some of these companies employ tactics that hinder traders. It would be helpful to educate them (particularly newbies) to overcome some of these pitfalls? If not here, could you please suggest where it would be appropriate to do so. Thank you, Richard

timsk · Apr 8, 2013, 1:29pm

Quote:

Originally Posted by richarda47

Hi Tim,

Having traded with many companies over the past 7 years, would it be pertinent at all to advise new and existing traders of some of the pitfalls of spreadbetting, as some of these companies employ tactics that hinder traders. It would be helpful to educate them (particularly newbies) to overcome some of these pitfalls? If not here, could you please suggest where it would be appropriate to do so. Thank you, Richard

Hi Richard,
Welcome to the forum.

The short answer is 'yes'! The more we can do to educate and inform our members about the perils and pitfalls of trading - regardless of whether they trade via direct market access or a spread bet broker - the better. Some of the tactics that SB firms allegedly employ to hinder traders have been discussed at length on numerous threads. Less common is discussion offering practical steps to help traders overcome said tactics (other than not using SB firms). So, if you'd care to start a thread offering your insights - that would be great! As and when I get around to writing the Essentials of Spread Betting & CFDs Sticky, rest assured this topic will form a substantial part of the main post. In the meantime, if you do a search and find a quality thread that encapsulates the main issues, bring it to my attention and I'll add it to the Best Threads in the Spread Betting & CFDs Forum Sticky.

Thanks for your post.
Tim.

Cole Hann · Apr 10, 2013, 5:17pm

when i ceased to view my markets as adversarial ,when i stopped fearing the trade as something apart from me rather than a- part of me, when i stopped trying to be right rather than reactionary...hand over fist

neil · Apr 11, 2013, 10:17am

Quote:

Originally Posted by Cole Hann

when i ceased to view my markets as adversarial ,when i stopped fearing the trade as something apart from me rather than a- part of me, when i stopped trying to be right rather than reactionary...hand over fist

Could you be less cryptic and simply get to the point ?

forexjesus · Apr 24, 2013, 5:02pm

Hello everyone I hope to be a very active poster here and a valuable contributor.

robbert · Apr 25, 2013, 5:30am

Quote:

Originally Posted by forexjesus

Hello everyone I hope to be a very active poster here and a valuable contributor.

and how exactly are you trading friend?manual or auto or copying signals?

Mar 1, 2013, 6:25am	#42
Johm Mill New Member Member Since Jan 2013 1 Posts	Re: Essentials Of 'First Steps' You guys have done a great job. It is very necessary to have a good plan before trading in forex market. One should always trade smartly, by not risking too much and trading in a limit. Hope to get more form you soon. Yes above mentioned steps are the necessary steps for a forex trader while beginning the trading in forex market. One should make a good strategy before trading in the market. Last edited by timsk; Mar 4, 2013 at 8:23am. Reason: Merging posts

Apr 10, 2013, 5:17pm	#45
Cole Hann Banned Member Since Apr 2013 24 Posts	Re: Essentials Of 'First Steps' when i ceased to view my markets as adversarial ,when i stopped fearing the trade as something apart from me rather than a- part of me, when i stopped trying to be right rather than reactionary...hand over fist

Apr 24, 2013, 5:02pm	#47
forexjesus New Member Member Since Apr 2013 1 Posts	Re: Essentials Of 'First Steps' Hello everyone I hope to be a very active poster here and a valuable contributor.

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