First Steps

[StueyTrader]

Hi

I am new to this forum and know NOTHING about trading, hence I need some pointers!

Could people recommend some books / articles etc which would help me begin learning about online trading.

Also what forms of trading would people recommend to a beginner? Where do people usually start?

I'm not expecting to be a trader by this time tomorrow, im sure it will take most of the week LOL but seriously right now my aim is to read as much basic theory as possible, ask tons of questions and then make an informed choice as to whether or not this is something I can really pursue.

Best wishes

 

[shadowninja]

Learn to read the dailies. Most newbies don't and want to scalp 2-3 ticks here and there. Which is no bad thing because it keeps brokers and spreadbetting companies in profit, I suppose. And check my signature.

 

[Tradekingfox]

Learn to read the dailies. Most newbies don't and want to scalp 2-3 ticks here and there. Which is no bad thing because it keeps brokers and spreadbetting companies in profit, I suppose. And check my signature.

Have to agree with Shadow.Try to learn how to read the charts first.At least thats how i start it.Iam more of (TA) guy.i base my enter/exits points based on technical analysis,so understanding how to read the chart is the most important for me.

 

[StueyTrader]

Can anyone explain physically how prices are set in realtime?

How is the increment that shares go up or down by decided?

What kind of volume of shares is required to distort the price? i.e. as soon as you sell them supply is increased enough to shift price.

How do shares go down in price? Who actually makes the decision that share prices should fall? I cant see how the trader is able to bargain for a lower price, he simply waits for the price to fall, so who is actually making the price fall?

 

[timsk]

Hi Stuey,
Welcome to T2W. Tell me, when you registered, did you receive the e-mail below?
Cheers,
Tim.

Thank you for registering at Trade2Win Forums!
We suggest you start by reading our FAQ for new T2W users:
http://www.trade2win.com/boards/trading-faq/30633-im-new-t2w-where-do-i-start.html
If you're new to trading, then be sure to read this FAQ:
http://www.trade2win.com/boards/trading-faq/30625-i-m-new-trading-where-do-i-start.html
If you've already a seasoned trader, then we'd love to hear your views
http://www.trade2win.com/section/reviews/
Finally don't forget to browse hundreds of trading articles:
http://www.trade2win.com/section/articles/
Whatever you choose, we hope you enjoy your stay!
All the best,
Trade2Win Forums

 

[StueyTrader]

I believe so.

 

[wallstreetwarrior87]

Can anyone explain physically how prices are set in realtime?

How is the increment that shares go up or down by decided?

What kind of volume of shares is required to distort the price? i.e. as soon as you sell them supply is increased enough to shift price.

How do shares go down in price? Who actually makes the decision that share prices should fall? I cant see how the trader is able to bargain for a lower price, he simply waits for the price to fall, so who is actually making the price fall?

Well for your second post, you are already showing potential to learn. Very good questions, and it does not even involve looking at a chart!

I guess you have already figured that there is no point in looking at a chart if you do not even know what you looking for:smart:

I genuinely recommend you do as much work on your own, generate your own thesis, through trial and error, before you look at books, websites, courses etc. Once you have done enough work you will be able to know what is theory and what is reality in this business.

If you read books and attend courses before doing the proper ground work, you will find it very hard to know what is true and what is rubbish. This direction will poison your mind, and hinder your progress.

This is one giant jigsaw, with many many parts, and if you continue to ask questions like the ones above you will be well on your way.

Happy hunting!

 

[timsk]

I believe so.

Hi Stuey,
Thanks for the reply.
Judging by your opening post - either you didn't follow the links or, if you did, you didn't like what you found. May I ask why you didn't follow them - or what you didn't like about them?
Thanks,
Tim.

 

[StueyTrader]

Hi Stuey,
Thanks for the reply.
Judging by your opening post - either you didn't follow the links or, if you did, you didn't like what you found. May I ask why you didn't follow them - or what you didn't like about them?
Thanks,
Tim.

Why do you say that?

 

[timsk]

I wrote them - so I know what's in 'em!

It's not a problem (well it is a problem, but it's my problem - not yours.) If you could answer the question it would be a great help to me because:
A) If you didn't follow the links - we need to do something to make them more enticing for future new members to the site. I dunno, instead of 'click here if you're new to trading', perhaps we'll go with 'click here for naked hot babes'.
B) If you did click on them and didn't read them, then presumably there's a reason? Either you didn't like them, understand them, found them boring, too long or whatever. Again, if you give me an honest answer, I can then address the problem.
Thanks for your help.
Tim.

 

[StueyTrader]

Well as it happens I am reading the links... they are long!

The initial email containing them is "unformatted" or at least appear that way in Outlook 2010 so TBH I found them after I wrote my first post. By unformatted I mean no actual hyper-links, double spacing between everything etc.

This email arrives just after the registration email, so it pops up after I logged in. Which means it shouldn't be taken for granted that it is read immediately.

As stated in my post, I dont really know much about trading, hence Im here, so I am limited in what I can say in a first post.

Part of joining a forum is to join a community of thinkers with which to communicate so my first post is as much to test the waters of response. I have joined other forums for other interests that I have and I can tell if a forum will be useful or not by the first few responses. They not only show if the general vibe of the forum is good natured and helping or not, but also give some information as to the volume of traffic the site enjoys (the friendliest forum in the world is still fairly useless if hardly anyone uses it)

On top of that there is just a general desire to say hi and get the ball rolling.

The articals, so far have been really good. Thank you for taking the time to write them.

They are long, and that is maybe a little off putting although I don't know if there is much that can be done about that; they contain a lot of good information. The reader has to therefore set aside some time to read them, but is unprepared for that the first time. So I didnt start reading them last night, rather started reading them around noon today.

Boring, no I dont think so. Hot naked babes, I'm clicking on it but it isnt doing anything.

I think new guys just want to post something on the first day and you shouldn't feel that implies that the articles are being completely ignored.

 

[timsk]

Hi Stuey,
Thanks for the comprehensive reply. I didn't know about the unformatted text - we need to address that if possible.

This site is very busy in as much as there are a lot of lurkers - but only a relatively small hard core of regular posters. That said, there's lots of good people here to help you on your way. As a general rule of thumb, you'll find more experienced people will only put themselves out to help you once it's obvious that you yourself have made - are making - an effort. As you will have discovered by now (I hope!) there's a number of comprehensive FAQs that cover the basics like what books to read etc.

Anyway - if you follow the links and complete the 4 step plan - then you should be in a position to know whether or not trading is something you want to pursue.

Thanks again for the feedback - very helpful.
Tim.

 

[TheBramble]

Stuey, there is condensed into the numerous long and boring posts on this site a veritable goldmine of useful information. Unfortunately, it’s buried within several Yottabytes of posts.

Timsk, and others, work tirelessly to extract, sift, grade, purify and present to eager newbies only the best and most useful starting places.

If you think it’s too much work to give that your initial attention then you’ll be like 95% of the others who started down that same path.

If you start asking the same questions that the others also asked without expending the relatively easy and obvious effort in researching that which has been ear-marked and laid out for you as a useful place for you to start, then you’re going to get short shrift from the rest of the community and get treated a lot less gently than you have thus far by Timsk.

Being clueless is not a crime. Being lazy is.