Sticky Introduce Yourself

[tocobern]

Hello everybody I am new so here goes..

Want to serously start investing / trading, got interested when I read a book called "Rule One Investing" by Phil Town. Truely believe in his ideas.

But since then read another book called "Day Trade Online" by Christopher A. Farrell, which started me thinking along the lines of day trading. So I started some virtual trading on msn, you get £100,000 to play with. I am down to £49,000 after all my bad investing or trading.

So I don't know why I thought I could day trade for real. I have been doing day trading for real for the past three weeks. First 2 trades I did made me about £200 and then I decided to try a company call HBOS! Bad idea because I took a £1000 loss on HBOS in 1 hour. I held the shares until Monday, when news broke out that Lehmans went burst and every bank seemed to start sinking, another £800 loss for on HBOS. It was at this point I decided to find out who HBOS where! Only now do I do my research. Nobody but me can be that stupid. When it got to £2000 I pulled out! I had traded £10,000 and got out with £8000 and a bloody nose. I feel sick. Notice the mistakes?
1) Started trading when virtual trading told me I know nothing (100k to 49k in virtual trade)
2) Bought shares in a company I new nothing about - HBOS
3) Day Traders should not hold trades over night!
4) Pull out as soon as possible (don't hold thinking it will go back up)

Next week I made £600 on Barclays so my confidence was up. Went back into HBOS and made another £200. Now I felt like I was flying. Got into HBOS again and price just went down and down and down. I held over night again and got even more punished, I had not learned from ealier beating! The £800 I had made this week all gone.

I feel rubbish!

 

[GreggUK]

I have just registered so I am doing the polite thing and introducing myself as you would at a party. I live in Plymouth, England [you know the one with the dirtiest bus station in Christendom] and have been spreadbetting for about 8 years - originally indices but now mostly forex. As an initial contribution [free tip] for new traders I gave up trading anything between 3 days before the UK August Bank holiday and 2 days after the US Labor Day holiday so this year was 22nd Aug to Sept.2nd inclusive. This is not a normal trading period. Anyway hopefully this intro will end up in the right place as all those ghastly little smilies make it too scary to concentrate.

Regards,
GreggUK

 

[harry long legs]

Hello Everyone

Its great to see a forum that looks useful for once. I have been spreadbetting since the beginning of August after attending a 'traders Uninversity' course (which was great). However me being the **** that i am have deviated from the rules in an attempt to find my own path of gold. Now i am on my knees crawling back looking for the people with sense (and possibly cents!).

So having been day trading with my heart in my mouth for about 3 weeks testing my methods and losing half my original pot i humbly look for guidance and commrades in arms.

I wish you all well and if some of your wellness rubs off on me then rub my way!

Graham

 

[GreggUK]

Harry Long Legs as you can tell from my original post it sounds like you have started trading at exactly the wrong time of the year - August; and then of course the Wall Street bailouts have happened on the last 3 Sundays creating massive gaps between Friday night close and Sunday night/Monday morning opening for almost everything so that has totally screwed up indicators. Don't feel too bad because millions of traders around the world lost money last week.

Tip 1.The most reliable trading vehicle/instrument is the GBP/JPY currency pair; the price relationship to indicators is almost as smooth as a pint of Guinness in Davey Byrnes Bar in Dublin. Like the advert on UK TV "it does excatly what it says on the tin."

Tip 2. If day or short-term trading forex and indices remember that the behaviour of prices in relation to their indicators is much more reliable pre-USA opening [London time that's 1.30pm forex and 2.30pm Dow Jones. In fact I only trade midnight - noon London time. At the very least do not assume that what works midnight to noon London time will work noon- midnight; it won't.

Tip 3. If you really do have long legs check to see if you are descended from King Edward 1 [nickname Longshanks] - if you are you will probably be able to increase your trading pot substantially.

Regards,
GreggUK

 

[patong]

Hi GreggUK,

Tip 1.The most reliable trading vehicle/instrument is the GBP/JPY currency pair; the price relationship to indicators is almost as smooth as a pint of Guinness in Davey Byrnes Bar in Dublin. Like the advert on UK TV "it does excatly what it says on the tin."

Which indicators are you referring too.

I think your tips are great,

thanks alot.

 

[mehtism]

Hi
thank you

 

[tomywa]

May I introduce my self.. I am tomywa from nigeria. Been learning forex trading on my own for over a year now using northfinance ( fxpro) but it has no been easy. Ive bn losing so much can someone help me.

 

[patong]

May I introduce my self.. I am tomywa from nigeria. Been learning forex trading on my own for over a year now using northfinance ( fxpro) but it has no been easy. Ive bn losing so much can someone help me.

Do you have an entry plan? position size to account, stoploss, and exit?

if so please post and i am sure someone will give you good advice.

My advice, be honest about your plan and experience so we know where to beginn.

 

[harry long legs]

Thanks Gregg,
Its strangely satisfying to know that things are sucking for everyone else just lately, i have decided to pull my head in a little and lick my wounds until things become normalish again.

I will check out the gbp/jpy tip thanks, it has probably saved me from disemboweling an owl and forecasting the markets based on his (or hers) entrails (if anyone has tried this, oes it work?)

As for the harry long legs, i have named myself here in honour of my dog who was un over two weeks ago by the postman. He was probably more likely to be decended from edward long shanks than i was, the dog that is and not the postman who was probably decended from the devil.

graham

 

[patong]

Thanks Gregg,
Its strangely satisfying to know that things are sucking for everyone else just lately, i have decided to pull my head in a little and lick my wounds until things become normalish again.

I will check out the gbp/jpy tip thanks, it has probably saved me from disemboweling an owl and forecasting the markets based on his (or hers) entrails (if anyone has tried this, oes it work?)

As for the harry long legs, i have named myself here in honour of my dog who was un over two weeks ago by the postman. He was probably more likely to be decended from edward long shanks than i was, the dog that is and not the postman who was probably decended from the devil.

graham

The devil is the bank you are trading against and the stop hunters. The postman is the devil who delivers the bills and runs over your dog ofcourse.

 

[Vick Au]

Hallo to everyone! I'm just a generalist with a bit of knowledge in a wide range of subjects. Rather than getting stuck into trading right fromt he start, I'm more interested in the lingo of trading to be able to communicate with people in all walks of life - so one day if somebody asks me something on trading I hope to be able to be helpful and to reply intelligently. ALlthe best to everyone. Vick

 

[Atin0031]

Trying to Learn the Forex

Any advice would be welcome, I am looking for some DVD's. So far I have been recommended John Person's DVD set. All DVD suggestions are welcome.

thanks
new guy

This is a new sticky thread in the Members, Meetups & Socials forum which provides everyone an opportunity both old members and new an opportunity to introduce themselves to the community.

If you're a new member, or maybe just a lurker who hasn't yet taken the plunge, then this is as good a place as any to start. Tell us a bit about yourself, perhaps your trading history and interests, and what you hope to gain from the site.

:!: If you have any simple questions related to trading, then please refrain from asking them in this thread and instead use the First Steps forum, which is targeted specifically to newbies taking their first steps:
First Steps - T2W Day Trading & Forex Forums

 

[eggo]

i'm interested in a spread involving the S&P and the Dow. unfortunately, I'm a novice to trading and the computer.Hopefully you good people can provide some much needed guidance. thanks in advance for any helpful advice. eggo

 

[cashukid]

Hello All,
A new Forex trader, just learning who it works.
Thought this was going to be easy.-D)
Finding out there is a lot more to this than meets the eye.
Glad to be here.

 

[ngdesign]

Hello all, my name is NG i am new to this forum.
Have only around 'year and half trading experience. Hope i can learn more from you guys.

btw. Apologize my bad english, it's not my first language.

 

[RoryP]

Greetings all. Thought that I would make the effort to say hello as this looks likes a great site and I can see myself spending allot of time in these forums......

Having worked in the music industry since i graduated in 2006 I have become increasingly aware of the fact that it is one of the most over rated and underpaid industries to work in that there is. I've had a great time but things are going to change.....
I decided some time ago, before the current c crunch episode and the collapse of the IB's, that I am going to pursue a career in the Hedge Fund arena....

I'm doing a masters next year in a finance/economics/investment management related subject (depends on which b school i decide to go to).... I am 24 now and am gagging for experience and knowledge, this looks like the place to be....... also reading a s**t load of books........

 

[click2alex]

hi everyone i'm new here

i'm a new member of this forum ,a beginner forex trader, and i'm looking forward to learning from the gurus here

 

[ngdesign]

Greetings all. Thought that I would make the effort to say hello as this looks likes a great site and I can see myself spending allot of time in these forums......

Having worked in the music industry since i graduated in 2006 I have become increasingly aware of the fact that it is one of the most over rated and underpaid industries to work in that there is. I've had a great time but things are going to change.....
I decided some time ago, before the current c crunch episode and the collapse of the IB's, that I am going to pursue a career in the Hedge Fund arena....

I'm doing a masters next year in a finance/economics/investment management related subject (depends on which b school i decide to go to).... I am 24 now and am gagging for experience and knowledge, this looks like the place to be....... also reading a s**t load of books........

Same as in my industry mate.

 

[Randor]

hi there, this is my first post
looking forward to seeing what this site has to offer

 

[RoryP]

Same as in my industry mate.

Oh really mate, what industry is that? im interested......