Where do I start?

[the hare]

Blowing up your trade account is not a stage in your development that any real trader would recommend, unless you are a MORON....

In principal, I'm 100% in agreement. I dont even recall blowing a demo, although since I've stopped trading now for the year, I might just see if I can do that next week

Its beyond insanity suggesting that you have a pop, lose a couple of grand, top up the account and do it all over again.

I dont necessarily agree that youd have to be a MORON to offer that advice, very far from it. That "advice" is most definately in the interest of bucket shop brokers and SB firms, and their parasitic IB's. Lets not forget that the parasites who gain from punters losses include vendors and forum owners. Sadly thats why such appallingly bad "advice" is posted, promoted and tolerated at so called "trading forums" who claim to have the interests of punters at heart. They dont.

The people offering and promoting that advice are not morons, they are no different to any other trader, just smart enough to understand that the easiest way they can make a buck out of this game is to screw those a little dumber than themselves (which thankfully is will be the majority of their readership). Its hypocritical beyond belief, but that doesnt make them morons. I think they are pretty smart really.

 

[Bint_Crusher]

In principal, I'm 100% in agreement. I dont even recall blowing a demo, although since I've stopped trading now for the year, I might just see if I can do that next week

Its beyond insanity suggesting that you have a pop, lose a couple of grand, top up the account and do it all over again.

I dont necessarily agree that youd have to be a MORON to offer that advice, very far from it. That "advice" is most definately in the interest of bucket shop brokers and SB firms, and their parasitic IB's. Lets not forget that the parasites who gain from punters losses include vendors and forum owners. Sadly thats why such appallingly bad "advice" is posted, promoted and tolerated at so called "trading forums" who claim to have the interests of punters at heart. They dont.

The people offering and promoting that advice are not morons, they are no different to any other trader, just smart enough to understand that the easiest way they can make a buck out of this game is to screw those a little dumber than themselves (which thankfully is will be the majority of their readership). Its hypocritical beyond belief, but that doesnt make them morons. I think they are pretty smart really.

Thanks for the support hare, iamnev has already tried to have me kicked off this site because he knows the game is up, I will relentlessly pursue him to ensure he is exposed as a bucket store. sometimes I wonder about the number of newbies on the site, almost as if its a testing ground. My responses are consistent albeit somewhat abrasive a bit like my trading in many respects.:smart::smart::smart::smart::smart:whistling:whistling

 

[timsk]

. . .Sadly thats why such appallingly bad "advice" is posted, promoted and tolerated at so called "trading forums" who claim to have the interests of punters at heart. They dont.

Wrong - they do.
As a member of staff on this particular forum, I most certainly have the interests of fellow members - especially newbies - at heart. I do my level best to ensure that any official output in the form or Stickies and FAQs etc. will help members achieve their trading goals rather than hinder them. To that end - as I've said 100 times before - if there's info' in any of them that is incorrect, unclear or misleading - please bring it to my attention and I will amend it. That way, you can do your bit to ensure that all the official content is of the highest possible calibre. That you haven't (thus far), leaves me to conclude that you think the official content is the best it can be; thanks for the vote of confidence!

On the other hand, if the "appallingly bad advice" you're referring to is on the main boards, then this is a different matter entirely. As you're well aware, anyone can post their views - so long as they abide by the site guidelines. Inevitably, some views may fall into said category in your opinion. In that case, all you need do is explain what's wrong with the post concerned, propose a better alternative and then subscribers to the thread can decide for themselves which view makes the most sense to them. That's the way that democratic and free forums like T2W work!


Tim.

 

[fayalac]

In principal, I'm 100% in agreement. I dont even recall blowing a demo, although since I've stopped trading now for the year, I might just see if I can do that next week

Its beyond insanity suggesting that you have a pop, lose a couple of grand, top up the account and do it all over again.

I dont necessarily agree that youd have to be a MORON to offer that advice, very far from it. That "advice" is most definately in the interest of bucket shop brokers and SB firms, and their parasitic IB's. Lets not forget that the parasites who gain from punters losses include vendors and forum owners. Sadly thats why such appallingly bad "advice" is posted, promoted and tolerated at so called "trading forums" who claim to have the interests of punters at heart. They dont.

The people offering and promoting that advice are not morons, they are no different to any other trader, just smart enough to understand that the easiest way they can make a buck out of this game is to screw those a little dumber than themselves (which thankfully is will be the majority of their readership). Its hypocritical beyond belief, but that doesnt make them morons. I think they are pretty smart really.

Bad advice?, to blow up a demo account instead your pocket?. I agree, theres no need to be moron to blow up an account, but also i think, specially for newbies, it will be better to trade with demo accounts instad real money. What is the problem with that?

 

[Bint_Crusher]

Wrong - they do.
As a member of staff on this particular forum, I most certainly have the interests of fellow members - especially newbies - at heart. I do my level best to ensure that any official output in the form or Stickies and FAQs etc. will help members achieve their trading goals rather than hinder them. To that end - as I've said 100 times before - if there's info' in any of them that is incorrect, unclear or misleading - please bring it to my attention and I will amend it. That way, you can do your bit to ensure that all the official content is of the highest possible calibre. That you haven't (thus far), leaves me to conclude that you think the official content is the best it can be; thanks for the vote of confidence!

On the other hand, if the "appallingly bad advice" you're referring to is on the main boards, then this is a different matter entirely. As you're well aware, anyone can post their views - so long as they abide by the site guidelines. Inevitably, some views may fall into said category in your opinion. In that case, all you need do is explain what's wrong with the post concerned, propose a better alternative and then subscribers to the thread can decide for themselves which view makes the most sense to them. That's the way that democratic and free forums like T2W work!


Tim.

Paper Trade,
Save Up A Couple Of Grand --- This has to be money that you don't need, so don't use your rent/mortgage/holiday/christmas present or any other necessary cash.
When Your Paper Trading Is Going Well Try Trading For Real - It will allow you to feel all of the emotions that trading can give you. Highs, Lows Boredom, Excitment, Stress, Relief. You get the picture.

---
You'll probably lose that couple of grand
---

If You Fancy Trying Again
---
Stop Reading Bulletin Boards, they are full of people trying to distract you, give you crap advice. Do your own research, find someone that you can visit face to face and watch them trade.

Paper Trade Again for a few months and try and simulate , formulate and execute trades.

---
Save Up A Couple Of Grand
---

Don't trade this money until you have got some proper tuition on money management. You need to learn how not to lose the money that you have just saved.

This is where I am at. I am learning how to keep my money for as long as possible.

Read New Stock Market Wizards, it's a great insight into guys that have made millions if not billions. How they coped with large losses and how they feel when they enter trades on a regular basis.

---
Tim-
If you can show me where the above advice is principally sound then I promise to buy you a beer at the next social event.
Setting yourself up for a fall tells you nothing about risk management, it simply tells you what a MORON you are. And yes when I started trading and did not sti ck to my plan I used to write myself an email telling myself what a stupid ****ing **** I was and WHY. I then printed it out and pinned up for in front of my desk for all to see. It did not take too many episodes of that to force me to focus on my plan and follow it. Forget this brain dead notion that you need to lose money in the markets to learn, you verily verily verily do ****ing NOT.
Forget this brain dead notion that you need to lose money in the markets to learn, you verily verily verily do ****ing NOT.
Forget this brain dead notion that you need to lose money in the markets to learn, you verily verily verily do ****ing NOT.
Just a point Tim.whistlingwhistling:whistling

 

[iamnev]

Whatever you do ignore the advice from this BRAIN DEAD MONG. Learn how to make sure you do not lose your money and take profits where you can. This PILLOCK says you will probably lose your first stake of £2000, WTF??????? If your trade account was £200,000 would you be prepared to lose that? There is absolutely no difference.
All the TA books and courses will not teach you how to trade. You can be up to your ears in indicaters and strategies but at the end of the day it is good risk management that acts as the key to success. Blowing up your trade account is not a stage in your development that any real trader would recommend, unless you are a MORON like iamnev who probably has never traded in his life.

Mrs Bint Crusher
As a person of your standing on this forum, why do you insist on being so abusive.

There is a massive difference between blowing £200k and £2k , the fact that a new trader is highly likely to blow up an account I think I gave good advice. Why save up £10k, £15k or £50k only to get a bad run, lose a load of money that probably took years to gain and be scared off the market for good.

All the negativity on this forum from people like Bint is emotional. These people probably trade with emotion still. They have probably bought the next best thing out of a box only to find that the market conditions have changed and have bought last years next big thing.

I agree with most posters on here that a demo account is the best way to practice entering trades etc. Plus I agree that you don't need to know everything there is about indicators and strategies. It is not the methods that are hard to teach or learn it's the mental stress that occurs when you are in a position which is going against you.

You don't get those emotions with monopoly money, you do with real money.

The new market wizards is a great book about great traders. People who trade millions and billions rather than pence and nuggets. Those traders have learnt not to get married to a trade, they have an entry plan and an exit plan. They have a plan for if they need to scale into the position. Newbie traders don't have any of that. You get that with experience.

Another book I am reading now is "Trading in the Zone", by Mark Douglas. It's all about getting your Head right.

Like I said, in my first post. Don't listen 100% to the people on these boards, especially if they revert solely to abusing other posters. Do some research into how to prepare mentally for what emotional roller coasters you are about to ride as a new trader, as it is your head that can keep you in a losing trade and your head that can make you trigger happy rather than patient.

I have nothing to sell, I am not a bucket shop and I rarely frequent shops with buckets. I have a blog which gives you an idea of how crap I am at trading which is why I point you towards the two books I wish I had read at the beginning of this year. Maybe I would be £2k better off for spending £40 :|

And to Mrs Bint, yes I did try and get you booted off this forum as sending me abusive personal messages is really unnecessary. You can google me, come around my house and say it to my face. Like a real person would if you really felt that way.

 

[Bint_Crusher]

for nev the spotter, looks like you agree with me then.

 

[iamnev]

for nev the spotter, looks like you agree with me then.

I'll never agree with anything you have to write or say as you are foul.

 

[timsk]

Tim-
If you can show me where the above advice is principally sound then I promise to buy you a beer at the next social event. . .

Hi B_C,
Sorry if I'm being slow on the uptake here, but I'm afraid I don't see any connection between your post and mine - which specifically relates to points made by 'the hare' in his last post. If the "above advice" that you refer to can be found in any official T2W output - please see the 1st para of my last post. If it can be found anywhere else - please see the 2nd para of my last post. Between them, I think they cover pretty much cover everything!
Cheers,
Tim.

 

[Bint_Crusher]

I'll never agree with anything you have to write or say as you are foul.

Another one bites the dust. Your miserable loss, not mine.

 

[CortneyWilliams]

Hi all,

I am really new to trading and have zero knowledge about it. I just want to hear from someone who had started from nothing but gradually built up a portfolio. What's the first step, what books should I read, what techniques should I learn?

Thanks in advance

Frank

Hi frank,

Nice to meet you. People here are nice so, don't hesitate to leave a message here if you have any questions. Hope to hear from you soon..

Happy Trading.

 

[Bint_Crusher]

Hi frank,

Nice to meet you. People here are nice so, don't hesitate to leave a message here if you have any questions. Hope to hear from you soon..

Happy Trading.

Not sure if I agree with you cortney, I think a lot of people on here are a bit nasty, certainly they are so to me.
For frank, LEARN TO TRADE, Learn what really moves the markets, as far as books go check "The wealth of nations" Adam Smith; "Trading in the zone" Martin Douglas; then BE REALISTIC. If you start with £1000, do you really imagine that you can get say a 200% return on that in any year?
Watch this series on youtube: This will show you how to act and how not to react.
http://www.youtube.com/watchv=68cciZYNqn0
Consider what assets you want to trade bearing in mind that any leveraged product carries the greatest risk. Whatever you do don't treat trading as a fun easy game, treat it as a business.
If you can come back to me with the answer to the first Question "What really moves the maarkets"? Then whats more you'll be a MAN my son.:smart::smart::smart::smart::smart::smart::smart::smart::smart:
:idea::idea:

 

[jpadventure]

Hi all,

I am really new to trading and have zero knowledge about it. I just want to hear from someone who had started from nothing but gradually built up a portfolio. What's the first step, what books should I read, what techniques should I learn?

Thanks in advance

Frank

Demo trade daily, see what works for others and try it for yourself. Trade one clearly written strategy on one security.

Design your own strategy because it's a personal thing, we can't trade other people's strategies.

If you enjoy it, continue.
The hard part is rewiring your brain, Mark Douglas, Van Tharp, Brett Steenbarger are good authors on psychology.

 

[Bint_Crusher]

Consider your answer to my last post Frank, but time will not run out if you haven't worked it out yet.

 

[jchalmers3]

Get an account at a reputable broker like IB or Optionsxpress which is what I use. Start with ten grand and trade futures. Start by following the ES, TF and NQ. Start with one contract at a time. Learn all you can about supply and demand levels and mark them on your charts. Add the 50 and 200 day EMAs and parabolic SAR for a visual cue. Use MACD and Stochastics for divergence and cross overs. Stock settings on Macd and 10,3, 3 on Stoch. You are looking for two kinds of signals. TCOs and Confirmations. TCOs are Trend change origins..aka bottoms or tops. Confirms are higher lows in an uptrend or lower highs in a downtrend. The signal either is or is not what it appears to be...let the market tell you. It will either turn out to be what it appears or it won't. If for example you have a potential bottom, with a nice distance to the 50 EMA (what I call a cushion)and the price action starts to roll over but fails and puts in a nice bullish engulfing candle then you may have a buy. If it rolls over and breaks the recent low and the next demand level is ten points down, then you may have a sell. The factors you want to study to make this determination are: Is price at Supply or Demand? Is there divergence on the oscillators? Has price recently broken the nearest EMA or Zone? Is there a cushion to nearest average or Zone? If it looks good then enter. The nature of the game is this: You will never know with absolute certainty if any given signal will or will not work...the best you can do is stack the odds heavily in your favor, cut any losses off immediately and let the market tell you when to get out. This maximizes profit potential and minimizes risk. I use one minute candles for pinpoint accuracy and they expose the most clues if you know what you are doing. Put in as much screen time as you can while following the above...given enough time...trading will actually become easy.

 

[Blackthorn]

Agree with Natureboy. The post (quote) above is a classic example of a scammer. I wonder however, where did the starter of the thread go? Did he duped us all, by starting a thread just to keep the traffic on this forum going... :rolleyes Oh well.

Gotta reign in here, does anyone else feel like punching binary trader in the eyeball. Fair play n all for trying to make a few quids but are people really duped by this? Im brand new to trading myself (3months or so) and even I in my capacity as a newbie can see that that this is obvious self proclamation!! The more I read the more I realise that trading is all about personal endurance, similar to any sport or scientific field. It is my most humble opinion that those who succeed are those who work the hardest, those who absorb the most information and make their decisions based on the information that is presented before them and not on the personal opinions. Jesse Livermore said that the markets are NEVER wrong, it is only the opinions of the market that are wrong!!
:clap:

 

[Blackthorn]

Gotta reign in here, does anyone else feel like punching binary trader in the eyeball. Fair play n all for trying to make a few quids but are people really duped by this? Im brand new to trading myself (3months or so) and even I in my capacity as a newbie can see that that this is obvious self proclamation!! The more I read the more I realise that trading is all about personal endurance, similar to any sport or scientific field. It is my most humble opinion that those who succeed are those who work the hardest, those who absorb the most information and make their decisions based on the information that is presented before them and not on the personal opinions. Jesse Livermore said that the markets are NEVER wrong, it is only the opinions of the market that are wrong!!
:clap:

lol this was ment as a reply to Stirf!!

 

[Bint_Crusher]

Gotta reign in here, does anyone else feel like punching binary trader in the eyeball. Fair play n all for trying to make a few quids but are people really duped by this? Im brand new to trading myself (3months or so) and even I in my capacity as a newbie can see that that this is obvious self proclamation!! The more I read the more I realise that trading is all about personal endurance, similar to any sport or scientific field. It is my most humble opinion that those who succeed are those who work the hardest, those who absorb the most information and make their decisions based on the information that is presented before them and not on the personal opinions. Jesse Livermore said that the markets are NEVER wrong, it is only the opinions of the market that are wrong!!
:clap:

You mean that you BELIEVE that Traders can ever be Wrong? WTF?
whistling:whistling

 

[fayalac]

Gotta reign in here, does anyone else feel like punching binary trader in the eyeball. Fair play n all for trying to make a few quids but are people really duped by this? Im brand new to trading myself (3months or so) and even I in my capacity as a newbie can see that that this is obvious self proclamation!! The more I read the more I realise that trading is all about personal endurance, similar to any sport or scientific field. It is my most humble opinion that those who succeed are those who work the hardest, those who absorb the most information and make their decisions based on the information that is presented before them and not on the personal opinions. Jesse Livermore said that the markets are NEVER wrong, it is only the opinions of the market that are wrong!!
:clap:

I understand you still have a lot to learn.
Markets can be wrong..., time will tell you.
Good luck.

 

[fayalac]

Hi all,

I'm a newbie in this forum and a newbie in Forex too. I can find a lot of informations in the internet about forex. How can you trade day by day? After a few hours I totally off... Very hard work! What do you do to fill your body's energy?

I found something interesting here: FX World Freedom
The page said I will get a free copy of the product if I ask something. It's a good deal for me.
So what do you do to fill your body's energy? How do you relax or... whatever.


Thanks

Fx Freedom?..., and they need you to answer that question?, dont waste your time. They will promise to make you as rich as you have neve dreamed in a couple of nights, you will be paying some bucks for a useless material or a brainless program, agt the end you will be loosing not only time and money, also your confidence.
I guess you better study and learn as much as you can, there are plenty of material around and always keep in mind, !) the trend is your friend and ) dont use real money until you have developed and forward tested your trading method.