I’m New To TRADING – Where Do I Start?

NVP

Well-known member
Jun 21, 2004
36,089
1,752
223
west sussex, UK
fxcorrelator.com
#31
After you pick a market to trade then I advise you get active on Twitter, use a piece of software called Tweet Deck you can get it free if you search on Google. Reason Twitter is handy for new traders is that you can follow specific people who are doing the same things as yourself. For instance, if you a trading the Bund follow Bund traders, if you trade FX follow FX traders, you will see them tweet throughout the day what they are looking at and it will help you as you are watching the markets simultaneously.....you can also interact with them in a FAST manner unlike the forums.

Forums are good to an extent, you can look through these after the market closes and get links/leads to do further research but stopping short of having someone sit next to you as you trade Twitter is an excellent tool I think if you are just getting into trading and not working at a prop firm.

We are a prop firm in London and we just started a little twitter feed, feel free to follow us, we tweet throughout the day on everything and anything market related. If you click our followers/following tab you will get a good list of like minded traders that you guys can then start following and see what they are looking at during the trading day which should definitely help you get started and guide you on the correct path.

Needless to say doing the usual reading books/researching is an obvious answer but as for help during market hours twitter is the way forward for new guys.

@Futex_Live
or not......:cool:
 
#32
I am unsure of how to answer this question, but I know people who are very successful making 300% - 400% in this business. I am not lying they do exist it has to do with reading level II bid and ask orders and reading volume. If I say trading is permitted although you have to become a tactician otherwise its leaving to chance. I love this business but nature controls my game, so I have to use the source of EL 55 now. I can teach you how to use volume on the technical side but you will still need to read the fundamentals. The fundamentals are what I call the signs of the times, but remember that you should fear when others hope and vice versa.
 
Aug 27, 2013
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#33
SHORT ANSWER

If you’ve just joined T2W – welcome!
First things first, if you haven’t done so already, check out this Sticky: [FAQ] I’m New to T2W – Where do I Start? That’s the starting point for ALL new members, regardless of your trading experience. It contains a list of 12 mini-FAQs which cover the basics about T2W - who’s who and what’s what etc. Once you’ve read it, you’ll have a good understanding of what a fantastic resource the site is, how to get the most from it and, hopefully, how best to contribute to it.

New to trading?
Okay, if you’re not only new to T2W, but also new to trading, then this is the FAQ for you. (If you happen to be a multi-millionaire fund manager, please read it anyway and tell us how we can improve it!) Trading is a very large subject and T2W is a very large website. You’re welcome to just follow your nose and see where it leads, or you may prefer to take a more structured route to accelerate your learning curve. If so, we have . . .

A simple 4 step plan
The Long Answer below provides a simple 4 step plan designed to give you a good insight into the world of the self taught and self funded trader working from home (known as a ‘retail’ trader). For new traders who don’t know where to start, this is the perfect introduction to the subject. Completing steps 1 to 3 will take around ten to twenty hours. At that point you will have enough information to be able to make an informed decision as to whether or not trading is for you.

100% guarantee
Yup, the 4 step plan comes with a rock solid guarantee. Once you’ve completed steps 1-3, one of two things will happen. Either you’ll be bored to tears by the whole subject or you’ll be unable to sleep at night because you’re just soooooo excited! If your rubbish bin is rapidly filling up with spent packets of Mogadon, then you’ll probably be ready to move on to step 4.
That's good for us.

To be honest I know very little about trading myself but I will try to point out some helpful things, I have always quite liked the idea of having a go, maybe open an account, put a small amount of money on it and see what happens. I do know that if you wanted to deal in shares then you would have to put down the full amount/cost but if you used CFDs then you only need to put down a percentage of the amount/cost plus you don’t have to pay any stamp duty. I know that a couple of my friends have used a company, they have tutorials on YouTube which are quite helpful, and everything that is discussed is explained clearly and may help give you a better idea of where to start.
 
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Jul 20, 2012
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#34
i recommend open fx account, minimum as low as $200. dont play with stocks or cfd.. capital requirement too high you will easily get hurt, unless you have plenty of spare cash
 

Liquid validity

Well-known member
Sep 19, 2010
2,422
692
123
#35
The forex is the largest and most liquid market. On entering such honorary markets, you quickly get your bladder full (anxious). But this is not what you need. The market is very busting- but we must admit it could be morally unkempt so you need to be very cautious. I suggest you start with mini account and demos as well so that you understand the countenance of the market better. When choosing broker, review closely his spreads and commissions, his leverages, trading platform, software in use, payment means, customer support etc. Most especially, try investigate seriously his accountability as the forex could be funny as even regulated brokers can threaten your positions- take for example the popular business Trial Group of Morgan & Morgan, P.A. filing a class action lawsuit today against the honorable Forex Capital Markets, LLC (FXCM) (NYSE:FXCM) alleging fraud and racketeering. You could be safe and rich even with a broker not regulated- IT ALL BOILS DOWN TO CALCULATED CAUTION.
Regulation does not mean purer than the driven snow.
It means you know where the broker actually is,
you know they are less likely (but not immune from going bust).
They are less likely to disappear with your money or make it difficult to withdraw.
Thats it, still no guarantee, but safer than no regulation.
Wearing a seat belt is no guarantee you won't crash, it just reduces
the risk to you should that happen - same with regulation.

Not that I'm writing this for your benefit, its pretty clear you are
a troll, spammer in waiting or outright tard :LOL:
 

redtag12

Active member
Aug 5, 2012
153
3
28
#37
Very good advice, is though it is necessary to have a good time to read everything calmly and interpret each tip. Merchants experience is reflected in the good results.
Hi,how to trade simple, when the market rises go long.When the market falls go short.If the markets is consolidating do nothing don,t trade.There you go simple ,a bit like most of the simpltons on this forum,most of whom do not trade or are failed traders.
Margaret,go and learn the basics of the forex market and i mean the basics you need to have an understanding of that first,(belive me this is a long road)However you need an understanding of the forex market what makes it?How does price move? Why does price move? what is liquidity? what is supply and demand?What is Depth of market? how do you see who is trading what?Where are the orders.Which currency is strong this morning which is week.Fundementles and Tech anay.Thats for starters then comes experiance, and a feel for your chosen crosses.A broker .Well an ECN one that has depth of market.Or trade Futures.So Margaret a lot to learn and although the start of this post is true and simple ,oh how it is not that simple.A good website for you ,writen by a women for women primarily but of course us males use it .She,s a trader and an educator her name is Anna and her webbsite (which is extensive to say the least) is called Making Bread.Good Luck Margaret.Regards Mike.P.S if you want any advice please ask,and just to clarify there are some good traders on t2w better than i will ever be find out who they are and never be afraid to ask we all started at the begining,and the road never ends.When you have opened an account Margaret you can ask about Money Management and how it works its the MOST IMPORTANT ASPECT OF TRADING.Without it you are sunk and finished before you startMike
 
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Sep 21, 2013
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#38
Hi Everybody

Im Li Li and Im new to this site and and also new share trader/investor. Just wanted to say hello. Got to get use to this site first.
 
Sep 21, 2013
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#39
Hi

Im still new. I have been reading books about technical indicators and looking for scanning software which are not expensive or free for ASX Australia market. For eg, I could add in ADX indicator etc. Play around the indicator. Can somebody help me and advise me which software is good for ASX Australia market.
Thanks.
 

timsk

Well-known member
Mar 18, 2002
6,829
1,765
223
#40
Hi

Im still new. I have been reading books about technical indicators and looking for scanning software which are not expensive or free for ASX Australia market. For eg, I could add in ADX indicator etc. Play around the indicator. Can somebody help me and advise me which software is good for ASX Australia market.
Thanks.
Hi Li Li,
Welcome to T2W.

If you're wanting technical (TA) analysis software so you can apply TA indicators to charts, then just about anything will do as the vast majority of packages available will have a good range of standard indicators including ADX. If you choose a U.S. or European based firm, the only possible issue that you may encounter is data. Most will provide data for the main equity index, but data for individual equities within the index and other Australian markets may be a little harder to come by. Obviously, if you opt for an Australian data provider - then this shouldn't be a problem.

As for specific details about which one to opt for - check out this FAQ: Can You Recommend a Data Feed, Charting Software & Broker?
Enjoy!
Tim.
 

nunrgguy

Well-known member
Aug 10, 2004
655
118
53
#42
I'll shortcut the learning experience for you:
Step 1: Deposit money with bucketshop.
Step 2: Lose all money
Step 3: Learn some forum cr@p
Step 4: Deposit more money
Step 5: Lose all money while incurring psychological damage
Step 6: Learn more forum bu11sh1t w.r.t. discipline, money management and psychology plus a load of rubbish learned from books.
Step 7: Decide to trade full time, give up job
Step 8: Deposit all money
Step 9: Self destruct, slowly lose all self respect, wife, money, home, family
Step 10: Try to scrap enough money for food by spamming forums
 

timsk

Well-known member
Mar 18, 2002
6,829
1,765
223
#43
Step 10: Try to scrap enough money for food by spamming forums
Oh dear, are we to presume you are now at Step 10 nunrgguy?

As for learning 'forum cr@p' - I can only assume you've been on some lousy forums and haven't spent nearly enough time here on T2W! Rest assured, there is a lot of really excellent information available for free here.
:p
Tim.
 
Likes: nunrgguy

nunrgguy

Well-known member
Aug 10, 2004
655
118
53
#44
Oh dear, are we to presume you are now at Step 10 nunrgguy?

As for learning 'forum cr@p' - I can only assume you've been on some lousy forums and haven't spent nearly enough time here on T2W! Rest assured, there is a lot of really excellent information available for free here.
:p
Tim.
Sure there is Timsk, sure there is :LOL:
 
Oct 27, 2013
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#45
Forex Trading

Yeah, Forex has really changed me. I'm a man of forty yet I can now advise a man of eighty. I learnt lessons in the forex that I wouldn't learn in Cambridge university; I can even read hearts now. Forex trading has cook me into such a delicious man, such that even angels could be jealous of me.