Day Trading & Forex Forum

jonboy123

IG index or IG markets?
no inactivity costs or fees?

Jasonw999

I found e*trade which also offer dummy accounts to practice.......any idea if it is any good?

trader_dante

I highly recommend them. Best spread betting firm out there in my opinion.

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Trading Price Action: An absolute insult to the amount of time some people have spent studying financial mathematics.

Calinor

Dante a question. I find Forex quite hard. I draw my support lines on the FTSE, and it works really well. Price reacts and I'm happy. The only time it doesn't react so well on FTSE is during lunch time, the S/R seem to a little bit 'flexible' here.

When I try to do the same on currencies, price just doesn't seem to react so well. When I look back later on in the day at the 1 hour chart, it sometimes eventually reacted, but not for quite some time after it initially hit.

So my question then is, am I just not getting the times right on forex (i.e. there are several lunchtime-type sessions)? Is forex typically something which just doesn't react so quickly at S/R lines?

Jasonw999

I have been trying to use this with Avatrade platform and getting a little succes but wondered if I have set it up ok? It doesnt have EMA only simple Averages does this matter? and what are the settings for MACD and stochastics? Also the MACD histogram doesn't change colour; should it? Is there a better platform someone can suggest for trialing this or do I just need to work on my setup? Sorry for all the questions?!
Thanks!

jonboy123

Can someone say what a genreal check list of things to do, when looking for trades?
Do you people have like a checklist: eg. what indice does company belong to, whats the EPS, whats the liquidity of trades per day, whats support/resistance etc etc.

Can you trade from simply using charts and volume histograms?

Because im just kinda all over the place at the moment.

And some sites just say N/A for alot of things like P/E and EPS, why is that?

thankyou.

Dukane

Has anybody used the Cyclone 4X trading system? Your feedback will be highly appreciated

thx
Dukane

Jasonw999

I understand your frustration as am confused by which way to start!? I read trading in the zone which seems to make a lot of sense and is about trading on technicals rather than fundamentals to answer your aother question ( using charts rather than looking at company performance eps,p/e etc) 'Rule#1'is another book I just read which is more about trading longer term (aka warren buffet style) based on fundamentals but also using some technical methods to monitor your stocks. I was confused too when companies had no p/e , eps etc but found out its because they didnt make any money!!! Hence they can have a market price/share price ( the P in p/e) but no earnings (the e in p/e)!!! and goes without saying no p/e no eps! I am looking to follow the 'Trading in the zone' formula and am studying the different charting methods available to try and find one I understand and then paper/demo trade that as per the instructions....let me know hoe you get on?!
If anyone knows the best trading platform/charts combination for a newbie that follows UK stocks ( i have seen some good ones but they seem to US focused?) I would be very happy!?
Thanks,
J