Ask ANY trading related question!

[Deepti]

Hi,
How to prepare our most recommended stocks to trade over befor we actually start off with day trading.
Please tell me the factors need to consider before preparing our stocks for day trading.

Regards
Deepti

 

[bernoneill]

I've traded with FXCM back in 2005, the platform was OK quite reliable, free news feed was hilariously ****, and obviously the price action is only as good as the next SB firm. If you have the cash i would go for IB. I don't trade spot FX anymore, but i recently opened an IB account, and saw the FX platform which is pretty awesome - as close to interbank rates as you will get, and half pip movements on most major pairs. The customer services of both are ****. If you're trading news events or just scalping i'd go for IB because the price action through their system is more liquid, and it gives you more options in executing an order. But the platform might move a bit jerkily, because they've weighed it down with so many other functions and views which you won't need to deal with if you trade spot FX. Definately worth checking out out other vendors though, steer clear of SBs like CMC.
Hope that helps.

Thanks. I appreciate your help. I am very tempted to go with IB as you suggest. Only problem is the $2.5/pip rate. I want to keep my risk low as well as start with a small fund amount until I get my feet wet. Even with 4 trade lots (4 simultaneous trades on 4 different currencies) at 100p (based on ATR to avoid easy stop out) risk each means $1000 risk, which to keep total "at any one time" funds risk at max of 8% risk means: $12500 account size, right? One message I get clearly from research is "you must have good Risk Management .. oh, ... and perhaps, a methodology, but definitely RM".
I might try a smaller account with FXCM or CMSFX and then once I know what I am doing move over to IB with a larger pot. Thanks.

 

[bernoneill]

Here's a question, which I'm sure has been debated before and has many threads but I'll try for a nice simple and clean answer. I've narrowed down my software selection to Metastock FX w/data OR Tradestation /w data.

Question, (for a beginner and to grow with) which is the better choice?

Thanks for your time.

Hi,
I am a newbie, so I am afraid I can help much. However, you have done some research and I was curious if you looked into Gecko software? I have heard Metastock and Advaced Get are quite good. I was trying to get more info on Gecko TrackNTrade Forex which is perhaps a less expensive alternative. In any event, I am curious what responses you get from experienced traders. Good luck!

 

[Woodrox]

Fibonacci Retracements

Can someone direct me to an area in here where i can read up on Fibonacci retracements..... I am finding that big intraday moves are hitttin the 38 % 50% and 62%.

I am specificaaly interested if anything can be inferred from a the different retracemtn levels... i.e. IN ANR today retraced the 81.78 to 88 move today (June 3 2008), 38 %, recovered then , broke down at the 3% line exactly at 1:30 with the general market(LEH blamed, me thinks part of the commodity unraveling, cite Pualsen, Bernanke and Soros comments).

The gap open represented roughly the 50% line on upmove.....could 88 +/- been predicted????

I Telechart, the Fibo drawing line includes a 25% retracement also.... at the breakdown at 86.24 which was the 38% retracement of the original up move the stick fell from 86.34 to 82 ish and reatraced roughhly 62% after a little hesitation at the 25% and the 50% lines.

Thanks
Woodrox in New England

 

[barjon]

Can someone direct me to an area in here where i can read up on Fibonacci retracements..... I am finding that big intraday moves are hitttin the 38 % 50% and 62%.

I am specificaaly interested if anything can be inferred from a the different retracemtn levels... i.e. IN ANR today retraced the 81.78 to 88 move today (June 3 2008), 38 %, recovered then , broke down at the 3% line exactly at 1:30 with the general market(LEH blamed, me thinks part of the commodity unraveling, cite Pualsen, Bernanke and Soros comments).

The gap open represented roughly the 50% line on upmove.....could 88 +/- been predicted????

I Telechart, the Fibo drawing line includes a 25% retracement also.... at the breakdown at 86.24 which was the 38% retracement of the original up move the stick fell from 86.34 to 82 ish and reatraced roughhly 62% after a little hesitation at the 25% and the 50% lines.

Thanks
Woodrox in New England

hi woodrox

There's a few decent threads in the archives - search for fibonacci threads - here's one http://www.trade2win.com/boards/fibonacci/3185-fibonacci-retracements.html?highlight=fibonacci and several articles (go to articles and search fibonacci).

cheers

jon

 

[greenuns]

hi guys
since this is a flame freezone, here I go
how do you know if the drop in price is a pullback? after a rally

i know it's very basic but it's hurting my trades. I always end up selling just before the pullback then I'm not sure if it's a pullback or what and get smacked around during the consolidation end up losing quite a bit of profit...

thanks for the time and help guys

 

[Woodrox]

hi woodrox

There's a few decent threads in the archives - search for fibonacci threads - here's one http://www.trade2win.com/boards/fibonacci/3185-fibonacci-retracements.html?highlight=fibonacci and several articles (go to articles and search fibonacci).

cheers

jon

Thanks Barjon

 

[BharatA]

Looking for a mentor....

Want to start in trading, and feel that like learning any other professional discipline, require professional training and mentorship.

Can anyone recommend a genuine trader out there who teaches and mentors with strategies that work?

Anyone heard of Nick McDonald and Precision Trader?

 

[tjanos2000]

Hi

I am new to Trade2win and this is my very first post.

I have been using CMC Market's Prorealtime platform. Unfortunately, CMS neither provide volume or tick-volume which is a shame.

I am wondering if any of you have got this problem and maybe a solution as what else we can use instead of volume. I understand that (tick)volume and price are two(three) separate entities and an indicator based on price cannot take the place of volume but still I am looking for something like the poor man's volume if any.

Regards
Janos

 

[jonj]

can somebody please explain why after the non farms release today the usd dropped accross the board,oil rose gold rose and yat the usd/cad pair never moved !!not even a flicker.??

 

[legin]

Any knowledge about a company known as GSL ?

Has any one out there any experience or knowldege of a London based software selling group known as GSL Investments. I have chance to 'buy the software' at an introductary rate of £4K. It is based on analytical work at the end of the days trading and gives simple recommendations for the next day etc. I just need to know of anyone who has utilised the software product..is it profitable and easy to use etc etc ?

 

[cjonez]

Introduction to trading the DOW?

Hi all,

I am interested in trading the DOW with a spread betting company, on trades that would last maybe 1 - 2 days (not intraday)

Could anyone help me find some info on when to trade, or more realistically, when NOT to trade. i.e when the markets first open (over here capital spreads opens at 7:01 am but then the ACTUAL market in NY opens at 2:30pm GMT, so are there 2 dodgy times when the market can fluctuate a bit. Also whether any news items make the market fluctuate wildly? Just the general idiosyncrasies of the market.
I have chosen this against the FOREX as that seems to be a bit volatile for a newbie.

I have tried to find some articles on here but can't seem to locate them.

Thanks for any help

Carl

 

[cjonez]

Has any one out there any experience or knowldege of a London based software selling group known as GSL Investments. I have chance to 'buy the software' at an introductory rate of £4K. It is based on analytical work at the end of the days trading and gives simple recommendations for the next day etc. I just need to know of anyone who has utilized the software product..is it profitable and easy to use etc etc ?

From what i know, buying software at any price is a bad idea and 4k seems outrageous. The markets are driven by emotional human beings. Software is just too detached from what is really going on. You would need to understand the markets to decipher whether the software was giving you the correct information or not.
From what i have learnt (i am still a newbie admittedly) by trading and losing money with other people at the helm, is that there is just no substitute for learning the markets yourself.
There are several good and simple systems on here. Look for 3 ducks and also trader_dantes posts. And everything on here is free!

Hope this helps

Carl

 

[SSINGH]

Hi all

is anyone using vantage point software to predict points to buy and sell ???

 

[grantx]

Legin,

Don't touch it. If it's that good, why are they selling software and not trading?

As Carl says, there's plenty on here which will show you how to trade. And it won't cost anything, never mind £4k (are they jokers, or what?).

Grant.

 

[rahman]

I am currently learning forex trading and i bought a mac computer i have searched but most of the trading platforms i come across is largely PC-based. Is there a trading platform for the MAC OS X leopard?

 

[omotade]

hi everyone,
iam new to trading.
has anyone ever tested asystem's waves _autotrendlines?
please help in its application

 

[omotade]

but my question has not been answered

 

[ww3361]

Futures Trading And Fx Risk?!

Hi,

I'm in the process of transferring from spreadbetting to futures trading.

Primarialy, I would like to trade the mini Dow Jones. Basically, I would just like to know from other British Dow Jones traders; as to how one mitigates Forex GBP:USD risk? Unless I've completely missed something and you don't need to hedge against FX risk.

Many thanks!!

 

[Crap Buddist]

Are assets small bottoms?

Thank you very little.