I began by blindly buying and selling penny shares through Natwest stock brokers. When i realised this was far to expensive and the commision charge would instantly wipe any profits that could be made, i looked for cheaper alternatives. I am now spread trading using mainly Tradefair, Finspreads, and for CDF's i use PLU S500. I continue to work on systems that are a hell of alot more profitable than buying the actual shares themselves. As a 3rd year undergraduate student at The University of Salford studying Business with Economics BCs i have a vast knowledge of the macroeconomic factors which, according to the media, are the cause of pricing behaviour. I am not a firm beleiver of this. The academics version of Efficient Markets, Random Walk, and that price cannot be forecasted by previous behaviour is too 'old school' and i beleive is being taken over and undermined by Behavioural Finance and Mass Market Psychology. These are which underly the methodology of Techinical analysis and completely undermines Fundamental Analysis.
Spread Trading, Mixed Martial Arts
- Real Name
- Daniel Lummis
- Student at The University of Salford
- United Kingdom
- Trading Experience
- More than 5 Years
- Trading Work Status
- Preferred Trading Style
- Position Trader
- Preferred Trading Methodology
- Technical Analysis
- Preferred Market Regions
- Preferred Markets
- Preferred Trading Instruments
- Preferred Forex Currencies
- Preferred Trading Software (A-O)
- Preferred Spreadbetting Brokers
- Favorite Trading Books
- Anything by Martin J Pring. His technical analysis books are brilliant.... Also New Market Wizards is well worth a read!
- Favorite Trading Tip
- Motto: The trend is your friend, untill it ends.. Use your knowledge, be vigilant, and get out before it hurts!
Tips: Follow the simple things like trend lines, support, resistance, and round numbers... Simple but highly underestimated.
Dont bother with the short run (day or less) focus on daily price charts, 4 hour time frame at the very least, everything else is irrelevant noise caused by main stream media.
Dont chase your losses this results in INEVIDABLE further losses. Trust me on this one from experience.
Control your emotions, stick to the plan, if it doesent work... Leave it and wait for your next GENUINE signal.
Manage your risk, be risk averse, do not exceed the levels you have set yourself.
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