Introducing

[Panos.]

Hello people,

I am just introducing myself as I recently joined the forum. I am originally from Greece, finished an MSc in Economics in the UK and just taking my first steps in trading. I've been job-seeking to no avail for the past 2 months and, trading for a living is something that becomes increasingly relevant in my case. I am hoping that I can take advantage of the fact that I reside in London and possibly gain some experience, but for now it is T2W and trading books reading time to get up to speed :smart:

I am also going to be visiting the World MoneyShow this week, so if anyone wants to network - meet up, just drop me a message.

 

[Lord Flasheart]

Hello people,

I am just introducing myself as I recently joined the forum. I am originally from Greece, finished an MSc in Economics in the UK and just taking my first steps in trading. I've been job-seeking to no avail for the past 2 months and, trading for a living is something that becomes increasingly relevant in my case. I am hoping that I can take advantage of the fact that I reside in London and possibly gain some experience, but for now it is T2W and trading books reading time to get up to speed :smart:

I am also going to be visiting the World MoneyShow this week, so if anyone wants to network - meet up, just drop me a message.

good luck and welcome

 

[Joseff]

Hello people,

I am just introducing myself as I recently joined the forum. I am originally from Greece, finished an MSc in Economics in the UK and just taking my first steps in trading. I've been job-seeking to no avail for the past 2 months and, trading for a living is something that becomes increasingly relevant in my case. I am hoping that I can take advantage of the fact that I reside in London and possibly gain some experience, but for now it is T2W and trading books reading time to get up to speed :smart:

I am also going to be visiting the World MoneyShow this week, so if anyone wants to network - meet up, just drop me a message.

Welcome to the forum!

 

[Stirf]

Let me just copy/paste what I wrote to some other newbies in the business tonight.

Friday evening and I'm behind the computer... Can it get any worse? Nevertheless it's for a good cause. Trying to keep the poor sheep away from the wolves (vendors). I can only tell you about futures since I trade forex myself, but I think trading stocks, options or whatever product wont be much different.

You can have a degree in gardening, jigsawing, physics or economics it doesn't matter. What does matter is:"do you have the mental strength that it takes to be a day trader"? If you think you do, try to find info on volume in combination with price movement. What moves the market? Volume does! Not a MACD, stochastics or any of the other crap! Read more about it in the attachment.

Concerning "teachers" in this business. Would you work at a company (client support, administration) that teaches others how to make money day trading? No, you would buy their course and start making thousands of dollars from the comfort of your own home. Then why do people work there? Because the, sometimes thousands of dollars courses teach you nothing but crap. They know it and that's why they stick to the 9 till 5 job for the monthly insult.

You should consider yourself lucky that I read your post. Why? Because in general people that make money trading trade! People that don't kill time on a forum. I started realizing this when I was structuraly making money. Put yourself in my shoes... Would you be hanging out here if you were making money? And I don't mean enough money to buy you a soda. No you wouldn't.

I'm not here to discuss, that would be a waste of my time. I make money, PERIOD. You can take from the info what you like.

You got one hell of a bumpy road ahead of you, but the biggest bump; VENDORS you should be able to avoid with my advice.

I wish you lots of fun and you can thank me later!

Besides that I can recommend the 2005 Rioja "Marques de Riscal Reserva"! I'm gonna get me another refill of that!

 

[Panos.]

This is wonderful Stirf, I am willing to welcome all viewpoints at this phase in order to start making my own conclusions. What is killing me the most is exactly the fact that it won't be until long that I'll know if I am cut for this business or not. And hopefully I will be realistic enough about my skills and take a solid decision.

Now, regarding the attachment I am pretty confused. I understand, and everybody should, that no single indicator can predict a process that follows a relative random walk but there is such thing as percentage of explanation right? Like the R squared in econometrics. What I mean by this is that in certain cases a properly implemented Technical Analysis could predict a reasonable percentage of the movement and a skilful trader should be able to detect that percentage and modify his risk (stake). I mean it SHOULD beat just shooting long and short positions from the hip right?

Don't get me wrong of course, I am a total newbie but I would love a discussion on it if you have the time

Thank you for contributing in any case and thanks to Joseff and Flasheart for the warm welcome

 

[Stirf]

Since you´re a complete newbie as I was once I forgive you for not reading my post clearly... Quote from you:"I mean it SHOULD beat just shooting long and short positions from the hip right?" Quote from my post:"try to find info on volume in combination with price movement". Taking price movement and volume into account beats shooting from the hip. One extra remark since I haven´t finished my glass of Marques. take a look at a random candlestickchart. What do you see as soon as volume increases? Yep, direction. How long this direction will last... No one knows, but often it is enough to get you a reasonable amount of pips. That´s better than a price that is just wobbling around which is the case when there is lack of volume.

My glass is empty so you´re on your own now!