My one liner:Sogolo said:Just wanted to introduce myself to all you experts out there. I am a newy and not ashamed to say so. Can you please pass on your one liner dos and even donts of the game. Thanks sogolo
Pay more attention to the don'ts than do's.
There's plenty of time to do, so don't.
Sogolo said:Just wanted to introduce myself to all you experts out there. I am a newy and not ashamed to say so. Can you please pass on your one liner dos and even donts of the game. Thanks sogolo
DO - Listen to the advice and experiences of people on this site.
DO - Use this wealth of info to formulate your OWN strategy that suits your characteristics, available time and other committments.
DON'T - Pay alot of money for advice or courses, most of what you will get on any course can be found for free if you ask around.
DON'T - Copy anyone elses exact methods, they won't suit you, or expect to quickly find a consistently profitable strategy, it will take time, patience and quite a few losses, if you find it at all. (I'm still trying after 4 years).
Good Luck
Dave
starspacer
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New To This Game
Sogolo
Everyone has started out having no experience and little knowledge.
In my experience, it is usually those who are not afraid to ask for help who eventually succeed. So you have taken an important first step.
One piece of humble advice I would offer is simply to read and digest the posts of the more experienced members of T2W. It will seem daunting at first, but there is some excellent advice there.
Start small, I didn't and lost big, initially.
Learn to cut your losses quickly. Never average down.
Try to develop a system that works consistently. Learn to limit your risks and maximise your profits.
Be very wary of taking stock tips from anyone. Learn to trust your judgement.
Accept that you will never be right all of the time.
I could go on but ...all of the advice you will ever need is posted somewhere on the boards.
Good luck!
Sogolo
Everyone has started out having no experience and little knowledge.
In my experience, it is usually those who are not afraid to ask for help who eventually succeed. So you have taken an important first step.
One piece of humble advice I would offer is simply to read and digest the posts of the more experienced members of T2W. It will seem daunting at first, but there is some excellent advice there.
Start small, I didn't and lost big, initially.
Learn to cut your losses quickly. Never average down.
Try to develop a system that works consistently. Learn to limit your risks and maximise your profits.
Be very wary of taking stock tips from anyone. Learn to trust your judgement.
Accept that you will never be right all of the time.
I could go on but ...all of the advice you will ever need is posted somewhere on the boards.
Good luck!
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There's a whole thread devoted to one line trading tips:
http://www.trade2win.com/boards/showthread.php?t=5191
http://www.trade2win.com/boards/showthread.php?t=5191
Sogolo,
I don't consider myself an expert by any stretch of the imagination but I have gone through (and still am going through) the same learning curve you've just started.
I started by reading "Trading for a Living" and taking out all the key advice and writing it out into my own document. I then started reading the posts from T2W and added to that document every time something interesting came up. I'm still doing that - it's a goldmine of info.
Two really useful threads were:
http://www.trade2win.com/boards/showthread.php?t=4629
by FTSE Beater - it's long but worth reading.
and
http://boards.fool.co.uk/Messages.asp?mid=6197846&bid=51108&sort=postdate
by Plastic Tortoise, this is old and VERY long but is extremely useful. There are some great posts by HelenQu and TBS from the early days.
I think writing down your strategy is a good exercise. TBS wrote the following once and I use it religiously...
For FTSE100 trading:
Monthly:
Look at all FTSE100 1 year charts.
Re-assess and filter down to top ~85 for volume and movement.
Weekly:
Look at these ~85 charts.
Mark on all Trends, Support & Resistance, Double Tops & Bottoms, Head and Shoulders, Cup and Handles, Flags and Triangles etc
Re-assess and filter down to top ~10 approaching these important levels.
Daily:
Look at these ~10 charts - get to know and love them!
Hopefully, somewhere in this set you have stocks that are capable of moving, have decent volume and are about to become tradable.
One last thing - Money and Risk Management are the most important parts of my strategy. I'm in for the long term and these allow me to stay there despite a few loosing trades.
Good luck, and keep reading.
S.
I don't consider myself an expert by any stretch of the imagination but I have gone through (and still am going through) the same learning curve you've just started.
I started by reading "Trading for a Living" and taking out all the key advice and writing it out into my own document. I then started reading the posts from T2W and added to that document every time something interesting came up. I'm still doing that - it's a goldmine of info.
Two really useful threads were:
http://www.trade2win.com/boards/showthread.php?t=4629
by FTSE Beater - it's long but worth reading.
and
http://boards.fool.co.uk/Messages.asp?mid=6197846&bid=51108&sort=postdate
by Plastic Tortoise, this is old and VERY long but is extremely useful. There are some great posts by HelenQu and TBS from the early days.
I think writing down your strategy is a good exercise. TBS wrote the following once and I use it religiously...
For FTSE100 trading:
Monthly:
Look at all FTSE100 1 year charts.
Re-assess and filter down to top ~85 for volume and movement.
Weekly:
Look at these ~85 charts.
Mark on all Trends, Support & Resistance, Double Tops & Bottoms, Head and Shoulders, Cup and Handles, Flags and Triangles etc
Re-assess and filter down to top ~10 approaching these important levels.
Daily:
Look at these ~10 charts - get to know and love them!
Hopefully, somewhere in this set you have stocks that are capable of moving, have decent volume and are about to become tradable.
One last thing - Money and Risk Management are the most important parts of my strategy. I'm in for the long term and these allow me to stay there despite a few loosing trades.
Good luck, and keep reading.
S.
prisoner66
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I am new to this site also, but not new to trading. I've been day trading for 6 years now and still here, but only by the grace of God perhaps, trading is definitely not easy.
My own personal favourite line is............."If you never lose you never learn and if you never learn you will lose it all".
Most useful advice for me has been.
Keep a trading diary............write in it every trading day, what you did, how you felt and what the market was like. Nothing extensive a few simple lines.
Pay a lot more attention to what you lose rather than what you profit. Question everything and make up you own mind.
Be honest with yourself! Look at the figures, if you make a profit was a real one after all costs? However good you feel is irrelevant if you are consistently making losses. If you are losing stop trading and evaluate why before carrying on.
My own personal favourite line is............."If you never lose you never learn and if you never learn you will lose it all".
Most useful advice for me has been.
Keep a trading diary............write in it every trading day, what you did, how you felt and what the market was like. Nothing extensive a few simple lines.
Pay a lot more attention to what you lose rather than what you profit. Question everything and make up you own mind.
Be honest with yourself! Look at the figures, if you make a profit was a real one after all costs? However good you feel is irrelevant if you are consistently making losses. If you are losing stop trading and evaluate why before carrying on.
dash riprock
Member
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Newbe Post
Hi
I am also a newbe.
I have been paper trading the nasdaq for a while trying to catch the evening move after coming home from my day job.Have been getting some consistent results lately and am looking to move up to direct access trading for real.
just glad to have joined t2win and have enjoyed reading some very informed posts.
dash riprock
Hi
I am also a newbe.
I have been paper trading the nasdaq for a while trying to catch the evening move after coming home from my day job.Have been getting some consistent results lately and am looking to move up to direct access trading for real.
just glad to have joined t2win and have enjoyed reading some very informed posts.
dash riprock
