I am just starting out need some advise

[FLETCHER53]

I have just started trading and i'm using a practise platform with FORTRADE. Are there any full time traders here or part time like myself.

 

[tomorton]

I think we're all one or the other.

Entry signals are not the most important element in trading, but we have to start somewhere - what entry signals are you using?

 

[FLETCHER53]

I think we're all one or the other.

Entry signals are not the most important element in trading, but we have to start somewhere - what entry signals are you using?

I am using the candlestick bars.

 

[tomorton]

Candlesticks are probably the most popular chart design, and show ample information for trading decisions. They recurrently print in patterns that are named and recognised, mostly useful as either price continuation signals or price reversal signals.

Can you be a bit more specific?

 

[gtspeed]

Very difficult to answer this, however if just starting the best advise I can give is discipline, start with the WHY before HOW to trade. Ask yourself why I want to do this and create a plan around that.

Also take a step back before placing the trade and look at why you are doing this. Also trade only once a day with one set up that works well for you, this will make you look for the best trade rather than swinging for the fences every time and over trade which will blow up your account.

After a week or so you will start to see the set ups more clearly and then in the future as you feel more confident increase

 

[FLETCHER53]

Very difficult to answer this, however if just starting the best advise I can give is discipline, start with the WHY before HOW to trade. Ask yourself why I want to do this and create a plan around that.

Also take a step back before placing the trade and look at why you are doing this. Also trade only once a day with one set up that works well for you, this will make you look for the best trade rather than swinging for the fences every time and over trade which will blow up your account.

After a week or so you will start to see the set ups more clearly and then in the future as you feel more confident increase

Cheers I have just gone live and won my first trade it may be only 71p but it's a start.

 

[mpups]

Cheers I have just gone live and won my first trade... 71p

get in lad!

 

[NVP]

Cheers I have just gone live and won my first trade it may be only 71p but it's a start.

you are already more successful than 95% of all traders .....keep it up

N

 

[FLETCHER53]

get in lad!

Cheers it a start hopefully things can only go one way.:cheesy:

 

[FLETCHER53]

you are already more successful than 95% of all traders .....keep it up

N

Thanks it's start. :clap:

 

[FLETCHER53]

Hi Fleetcher53..welcome aboard in T2W..If need an advice you has came on the right place here..

Thanks, how do I spot signals for a bullish or bearish trends as i keep on getting it wrong.

 

[JsnSolomon]

I'd look for some professional to tutor me. You can learn on your own of course, but it will be slower and more expensive.

 

[tomorton]

Thanks, how do I spot signals for a bullish or bearish trends as i keep on getting it wrong.

First you have to have a definition of the trend, secondly hopefully a way to gauge which of 5 or 6 trends available would be the best one for your strategy for you to get into, and the least important issue is thirdly the signal. What is important about the TA surrounding the entry signal is where it tells you to get out in the event of a losing trade.

Moving averages are handy for trend definition and assessment - its about all they are good for. If its a really strong trend (according to your strategy and trend assessment parameters, not just price momentum) many sorts of entry signals will do, though entering an uptrend at a high or a downtrend at a low would probably be a poor example to follow. A bad signal is a late one, so that probably cuts out MA crossovers.

Stop-loss level should be the earliest point where price now has a greater probability of going the wrong way rather than in the direction of your trade.

 

[FLETCHER53]

First you have to have a definition of the trend, secondly hopefully a way to gauge which of 5 or 6 trends available would be the best one for your strategy for you to get into, and the least important issue is thirdly the signal. What is important about the TA surrounding the entry signal is where it tells you to get out in the event of a losing trade.

Moving averages are handy for trend definition and assessment - its about all they are good for. If its a really strong trend (according to your strategy and trend assessment parameters, not just price momentum) many sorts of entry signals will do, though entering an uptrend at a high or a downtrend at a low would probably be a poor example to follow. A bad signal is a late one, so that probably cuts out MA crossovers.

Stop-loss level should be the earliest point where price now has a greater probability of going the wrong way rather than in the direction of your trade.

Thank you.

 

[tokyojoe]

I have just started trading and i'm using a practise platform with FORTRADE. Are there any full time traders here or part time like myself.

Hello mate, I tend to stay off these forums these days, the endless ping pong matches do my nut in.

At the end of the day you are seeking a fade, all day every day.

Avoid traps, when ensnared (& you will get ensnared) get out at a reasonable new offer point, if no new price offered & you are sucked into a personal hell, then lesson learned.

New chapter.

Good luck.

 

[FLETCHER53]

Hello mate, I tend to stay off these forums these days, the endless ping pong matches do my nut in.

At the end of the day you are seeking a fade, all day every day.

Avoid traps, when ensnared (& you will get ensnared) get out at a reasonable new offer point, if no new price offered & you are sucked into a personal hell, then lesson learned.

New chapter.

Good luck.

Thanks what is a fade?

 

[tokyojoe]

Thanks what is a fade?

The Fade of a move, it's just a term used to describe seeking value.

Nobody, I & mean nobody (especially retail i.e you & I) know true value, but we get to know price behaviour, cycles, etc over time.

Some people are part time without getting to know price behaviour, they don't need to, they are long term, they buy at x & sell at y, set a stop, simple, others day trade, they need to learn price behaviour, they need to learn to trade the fade of a move intraday, it is very dangerous, it is very risky, especially if you leverage (which with your 70+p win I can see you may need to ring someone )

Anyway, goodluck, you'll work it out.

 

[FLETCHER53]

The Fade of a move, it's just a term used to describe seeking value.

Nobody, I & mean nobody (especially retail i.e you & I) know true value, but we get to know price behaviour, cycles, etc over time.

Some people are part time without getting to know price behaviour, they don't need to, they are long term, they buy at x & sell at y, set a stop, simple, others day trade, they need to learn price behaviour, they need to learn to trade the fade of a move intraday, it is very dangerous, it is very risky, especially if you leverage (which with your 70+p win I can see you may need to ring someone )

Anyway, goodluck, you'll work it out.

Thanks appreciated

 

[divyanshisharma]

Learn by your own and in case faces doubts, get a guidance from a trader.

 

[hatemypips]

Learn by your own and in case faces doubts, get a guidance from a trader.

Where to find a good trader who is not interest in your money and can supply you with valuable advices.