new/info

hi everyone,
i'm new here and would like to ask few questions if that's ok
as u will see from my questions my knowledge is a bit limited so appologises for that
many thanks in advance

*how many of u actually trade at home full time ?
*how many of u trade for a firm ?
*can u make a profit of £100/day easily (when trading at home)?
*do u know if it is possible to visit the london stock exchange ?
*what is the difference between trader & stockbroker ?
*what is the name/profession of the guys u normally see shouting on tv or newspaper ?
*for those dealing at home what software do u use ? is it expensive ?

thank you so much

coyotmo said:

hi everyone,
i'm new here and would like to ask few questions if that's ok
as u will see from my questions my knowledge is a bit limited so appologises for that
many thanks in advance

*how many of u actually trade at home full time ? Dunno
*how many of u trade for a firm ? Not many, some of us do
*can u make a profit of £100/day easily (when trading at home)? Very easily, once you know how to trade but that is the hard part, after that why not £10,000?
*do u know if it is possible to visit the London stock exchange ?ring them
*what is the difference between trader & stockbroker ?Stockbrokers are middlemen, they just do what they are told by traders/clients
*what is the name/profession of the guys u normally see shouting on tv or newspaper ?traders who work in open outcry pits
*for those dealing at home what software do u use ? is it expensive ?as expensive/as cheap as you want it to be, for those not spread betting i know interactive brokers are a popular choice

thank you so much

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Im a kind dude

coyotmo said:

hi everyone,
i'm new here and would like to ask few questions if that's ok
as u will see from my questions my knowledge is a bit limited so appologises for that
many thanks in advance

*how many of u actually trade at home full time ?
*how many of u trade for a firm ?
*can u make a profit of £100/day easily (when trading at home)?
*do u know if it is possible to visit the london stock exchange ?
*what is the difference between trader & stockbroker ?
*what is the name/profession of the guys u normally see shouting on tv or newspaper ?
*for those dealing at home what software do u use ? is it expensive ?

thank you so much

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Funny how people always ask how much you can make, but never how much you can lose.

Well, it's a lot. Just wanted to let you know there's a high element of risk if you want to become a daytrader.

Ofcourse black-star is right, but that £100/day all depends on what you're putting at stake. As you're new to this site, explore things around a bit, study and read some books and don't put real money on the line before you (a) know what you're doing (b) know that what you're doing will lead to profits (c) know how much money you can lose.

SSSHH Fire walker, a healthy n00b flow will allow for steady injection of easy money into the markets. Seriously though everything fire walker said is true and should be adhered to...

Scale up, I say. If you can make on average £5 a day, then in time you can make silly money. But why risk whatever it takes to make £5000 a day when one can't generate a regular income of £5?

The more I think about it, the more I am convinced that demo accounts are the way forward. Once you have a system that works, then you open up a small account with real money, but until you find a system that works why waste real money. It's hard enough trying to find a system that you are comfortable with without having to lose your hard earned savings. I wish I'd spent more time messing about on a demo rather than taking my real money to the market.

black-star said:

SSSHH Fire walker, a healthy n00b flow will allow for steady injection of easy money into the markets. Seriously though everything fire walker said is true and should be adhered to...

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well... almost everything

coyotmo said:

*how many of u actually trade at home full time ?
*how many of u trade for a firm ?

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last count, there were 81,720 members of this forum site.
how many are you expecting to respond, and if you don't receive 100%, how much significance, statistically, can you place on the responses from those who do reply ?

coyotmo said:

*can u make a profit of £100/day easily (when trading at home)?

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famous old saying:
"how can you end up with $10,000 trading the markets"
"start with $100,000"

rathcoole_exile said:

famous old saying:
"how can you end up with $10,000 trading the markets"
"start with $100,000"

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Hmm, will adjust that for use in future when referring to honourable grandfather: "Honourable grandfather, he say, to have $10,000 account from stock market, start with $100,000." This will go alongside my routine "Honourable grandfather, he say, if chain still swinging, seat is warm." and "Honourable grandfather, he say, man who go to bed with itchy bum wake up with smelly finger."

Think I'm rambling a bit, there.

shadowninja said:

Hmm, will adjust that for use in future when referring to honourable grandfather: "Honourable grandfather, he say, to have $10,000 account from stock market, start with $100,000." This will go alongside my routine "Honourable grandfather, he say, if chain still swinging, seat is warm." and "Honourable grandfather, he say, man who go to bed with itchy bum wake up with smelly finger."

Think I'm rambling a bit, there.

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brother, your Rambles make a lot more sense than some of the stuff on these boards

What makes me smile though is that most of the 'newbies' that are asking questions of late don't appear to have done much homework. They mostly joined in January if you have also seen the pattern. There's a wealth of information on this site (as well as others if I'm allowed to say that :cheesy but these people want direct answers without doing any work for themselves. I lurked for ages and read bucket loads before even daring to make myself look silly with a question!

If they really are new traders, then they will get their butts right royally kicked if they can't even answer these type of questions before entering into this dangerous world of trading.

I used to send PM's to newbies that asked this stuff before, giving them help and advice on where I got all of my information, now I just think they need to get grafting a bit themselves before I will try to assist.

Priceman said:

What makes me smile though is that most of the 'newbies' that are asking questions of late don't appear to have done much homework. They mostly joined in January if you have also seen the pattern.

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I wonder if Sharky has stats but each time I look at the front page, the number of members seem to increase much quicker than in the past.

Also, I've read in the paper yesterday that some of the major national online book-shops in my country have noted a never-before increase in the selling of financial books. Says something, doesn't it?

Says something, doesn't it?

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Yup... Bear market! :cheesy:

Priceman said:

If they really are new traders, then they will get their butts right royally kicked if they can't even answer these type of questions before entering into this dangerous world of trading.

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Agree.
There's a common myth amongst those who've never seriously traded, that all you have to do is "know what to buy", do it and sitback & wait for the profits to roll in. [I expect this may be the case for a small number of most expert traders but lesser mortals like me have to work at it]

People in the workplace were always asking me for "tips" if they knew I traded [I soon learnt to shut up] as if that was all there was to it. How little they know.............

Trading is like any complex subject: until you've studied a primer and are at least familiar with the basics, then there's not a lot of point in asking - because you won't understand the answers anyway.

Although to be fair to any n00bs Dont be put off by what everybody says-trading is pretty simple, buy it when its going to go up, and sell it when its going to go down

Deadly serious though tips to save another n00b post ever again, here is some of my (opinion) advice which i think are just a few of the things you should learn before you try taking money from the pockets of traders who have more leverage than you thought was legal, and more importantly, more experience.

Read at least 2 or 3 books on trading psychology

Understand technical analysis and the psychology of why it works, read some technical analysis's books for this as well

Get a simulator while you save up money for your first of probably many trading accounts

Trade only one product to start until you can make a lot of money trading it, every wonder why most pros who make millions don't dabble in any market which they fancy

Understand macro economics, only two or three trading specific books and a few months of FT's is good enough to have a basic grasp of what is going on

If you are not prepared to do much/ any of the above ask yourself if you are serious about making serious money the markets, or if you want to part time dabble with your spread betting company for some fun/a thrill. I think the the reason 90%+ traders don't make money in the markets is because 50% of them want the latter. It appears from half the threads on here that you guys seem to know much less that you should. I vote that Admins delete all crap posts (questions which have been answered 100x before)