Hi I'm a new member

[Iain Rice]

Hi
I'm new to this and I'm really interested in trading the morning move.
Would really appreciate any advice on where to open a trading, strategies etc
Thanks Iain

 

[Jason101]

Don't, unless you want an 80%+ chance of going down a self destructive path and loosing your money.

 

[Iain Rice]

Hi Jason thanks for your reply,I didn't expect it to be quite so neg.
Can I ask if you are a trader and does it work for you regards Iain

 

[Jason101]

A must read for all here.

http://www.financial-spread-betting.com/Losers.html

And the funny thing is the link is to a site promoting trading.

Edit: As for me it doesn't matter if I have traded for over 10 years or never traded. All that is anecdotal. And people will believe what they want. There are losers on this site who portray themselves as fantastic traders and some very good traders who are very modest and don't make much noise. We But i think the facts in the above linked article pretty much speak for themselves. Apart from the money there is also a massive time investment on trading.

 

[MNS]

Hi,

I have been trading for couple of years. Mostly day trading.
Would love to learn more about day trading and swing trading.
Thanks!
MS

 

[tracydavison]

hi and welcome

 

[tomorton]

Hi
I'm new to this and I'm really interested in trading the morning move.
Would really appreciate any advice on where to open a trading, strategies etc
Thanks Iain

Hi Iain. I tried trading morning moves some years ago but that ended badly but I am trialling trades based on the London opening again. Results so far are mixed. Part of the problem right now is that Brexit (I assume) has depressed volatility in so many markets that I would trade, particuarly stock indices and forex. Until this is resolved, early moves are failing very quickly, and secondary moves in the opposite direction lack follow-through.

I am basing decisions on the price action relative to the London 0700-0800 bar. The break-outs from this range right now are a disaster. The secondary moves opposite to the break-outs are OK but don't bother holding out for a move of 2 or 3 or 4 times the trigger bar's range, they just won't happen.

Better hunting I think after a decision on the Brexit deal is announced.

 

[TradeKing305]

I've learned the hard way that its best not to trade before 9:45. Even if you have the best hotkey setups, there is very little market data to establish trendlines and recognize patterns. Trading the 5min ORB has caused me alot of pain and heartache.