Firstly I would say do some research.
Find out what you want to trade.
I found this thread very interesting. I would suggest you read this too (might take a week or two but definately worth it).
http://www.trade2win.com/boards/first-steps/26947-making-money-trading.html
Find out what you want to trade.
I found this thread very interesting. I would suggest you read this too (might take a week or two but definately worth it).
http://www.trade2win.com/boards/first-steps/26947-making-money-trading.html
wasp
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nine
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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.
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
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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
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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
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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.
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
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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.
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.