Paddle around for a while !
go.for.it said:
I'm drowning in threads for and back all the way.
I have some SIMPLE questions about trading. (feel a bit small at this site)
Have around $1.000/£500 and want to start trading.
And wonder if there could be any "easy" answear to my questions.
Where should I open account?
What should I trade? (have a good feel on SB and CFD)
Any good suggest?
BR
Frank
Frank
I would start with reading through the article on trading templates and attempting to fill it in:
http://www.trade2win.com/knowledge/articles/general_articles/trading-plan-template/?r
This might help you start to answer questions such as what should I trade.
Then read some technical analysis documentation to get an idea of the basics. Try for example:
- Come into my trading room - Dr Alexander Elder
- Technical analysis of the financial markets - John J Murphy
(both should be available on Amazon)
- look at the book store on this site
or if you can't wait to order
- technical analysis for dummies is readily available in high street shops
Then look at free charts readily available on the net e.g.
http://www.advfn.com/
Try applying the knowledge learnt from the books to these and get to understand how price moves, what patterns occur and so on.
Look for brokers who provide free demo accounts where you can then apply the technical analysis to the instruments you have chosen to trade using your trading plan.
This will provide you with further insight into how those particular markets work, how the actual trading platform works for that broker and enable you to start comparing brokers.
All this will help you refine over and over again your trading plan, your choices of instruments and your strategy.
Then move onto real accounts with small lots and low margins. The spreadbetting forum on this site has more on this.
The main concern I have, however, is your first sentence : I'm drowning in threads for and back all the way. You must not jump in at the deep end, but must spend lots of time in the paddling pool first ! If you are overwhelmed by the threads then you will be equally overwhelmed by the market, especially trading on margin.
So take your time and good trading
Charlton