Any advice for a starter

LucianB

Newbie
1 0
I am looking to start trading but have heard so many things from so many people dont know where to start! Any advice would be greatly appreciated.

Thanks
 

zupcon

Experienced member
1,162 322
Avoid forums at all costs, get some charts and get working
 

nine

Senior member
2,038 506
Spend enough time on the forums to find out all you can about Wyckoff. The things he talks about will give you the basis to make Zuppy's advice work for you.

If you must have any indicators (other than price and perhaps volume) then make it 1 or 2 moving averages at most as they can help you perceive trend and perceive where retracements are likely to stop.
 

Rhody Trader

Senior member
2,620 264
I am looking to start trading but have heard so many things from so many people dont know where to start! Any advice would be greatly appreciated.
Does anyone else see the irony in this inquiry? :jester:

Someone who is struggling with information overload is asking for more information from members of a forum. As we've already seen from the posts so far, that information is all over the place, probably making things worse.
 

Rhody Trader

Senior member
2,620 264
spend hours and hours on forums. It's free, and you'll learn as much as in books.
And if you invest $20 (or whatever) in a book you can save yourself loads of your valuable time and get that information in a concise format. I know my time has value. I'm not about to waste it ploughing through a forum for general information when I can get that info easier and in a better format at a nominal cost. Forums are good for very specific questions or recommendations - not for general education.
 

foredog

Experienced member
1,879 313
Choose how you intened to trade:

Short term...daytrading

Mid term

or long term ... investing

then look for a method that is suited to the time you have to trade.

If you only have 1 hour each evening it's pointless looking at really short term trading.
 

PokerBrat

Active member
197 25
Ignore most of the information you have received. Choose one simple trading system, focus all your energy on learning that system inside out. Then pratice it in a demo account. Then open a learners account that allows you to bet for 10p per point and practice it some more.

Keep a journal of every trade you make, why you entered it, why you exited it, how you felt during it, what the outcome was, what key lesson have you learned from it.

Trading is 10% system and 90% risk management/psychology, and you will only learn about your psychology by actually trading.

Keep it simple and start small.
 

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