MANUALS & CD's

badd boi

Member
52 1
Aa an newbie I would appreciate your advise
Due to personal circumstances I am unable to travel to seminars etc.
I need to gain some understanding of Trading.
Both TA theory and practice.
I am considering NEW SKILLS for the theory, and
I am considering CLICKEVENTS for the practical.

NEW SKILLS offer manuals for:
INTRODUCTION TO TECHNICAL ANALYSIS
ESSENTIAL TECHNICAL ANALYSIS
UNDERSTANDING TECHNICAL ANALYSIS
WILL YOU WIN OR LOSE
POINT & FIGURE MASTERCLASS

You can also attend the course in person.

As I cannot attend any courses I need another way
gaining practical experience from someone.

CLICKEVENTS offer CD's for :
THE BEGINNERS COURSE IN SPREAD BETTING
BEGINNERS GUIDE TO SPREAD BETTING
THE TECHINICAL TRADER
BEAT THE INDEX
PRISTINE CD's
CANDLE CHARTING
FOREX TUTORIAL
THE SWING TRADER
THE ALAN RICH COLLECTION


Can you help me decide which is the best combination.
I am interested in SPREAD BETTING to start with.
I have no experience of level II.
I have not started trading yet.
I have read numerous trading books.
If you know of other courses by mail or CD that you think
would be of help to me I would like to hear about them before commit my self.
Thanks
 

JTrader

Guest
5,741 506
Hi badd boi :)

My opinion is as follows.

if you are a complete newbie to trading and financial markets - then I would suggest that getting use of some basic book or manual etc. that will provide you with a logical introduction to and a basic awareness & understanding of the many things that you will need to become familiar with - is not a bad idea. However, if you have already read several trading books - then you probably have a basic understanding!

Be careful not to get scammed!...... I certainly would advise against spending hundreds of pounds on courses, manuals etc......... There are many opportunists within the trading arena who promise lots and probably deliver very little, and are only too happy to take the hard earned cash of an unsuspecting newcomer - often in exchange for the basic type of information which is available for free on websites like trade2win.com.

Once you have a basic awareness of financial markets, trading and the types opportunities that exist for trading, you can then look to gain more information and specialise in the areas that interest you, by doing your own research within the discussion boards on this website. You could learn all you need to know - from this website - and for free :!: :D

The wealth of resources & information available for free on the Internet is staggering.

Take your time, enjoy the learning process (which is ongoing for all traders) and treat it as a journey. Do not start active trading until you are ready to do so, and only trade with money that you can afford to lose!

Oh... and find an instrument to trade and a trading style that suits you.


All the best

jtrader
 
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badd boi

Member
52 1
Hi Jtrader,
Thanks for the sound advise.
I'll try and stick as close to it as I can.
My biggest problem is that there is so much choice.
I have a rough idea where I'm going.
But I need a more solid foundation on which to build the knowledge that I have acquired
A little knowledge is a dangerous thing - ain't that what they say!.
I find the Trade2Win Forum Guides very useful as a good starting point.
But lacking experience is a real handicap.
I don't know what works and what doesn't work in trading.
I suppose It comes down to personal choice.
I will keep reading and learning until I'm confident enough too actually trade.
But will continue to ask questions along the way.
Cheers,
Badd Boi
 

Dave1971

Active member
135 0
Hi Badd Boi

I agree with the comments of jtrader.

What and how to trade is a personal thing which no-one can really advise you on, you must research this yourself by paper trading and see what suit you best.

The mechanics of trading is different. many of the courses etc that you have quoted that are directed at beginners are padded out with basic information on how spreadbetting works, and lots of illustrative examples showing trade execution. All this is freely available on the spreadbetters websites such as Finspreads, cantor Index and Deal4Free to quote three.

Hope this is of some use.

Dave1971
 
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badd boi

Member
52 1
Hi Dave1971,
I seem to missed my notification of your reply.
Many thanks for taking the time to reply to a newbie - it is much appreciated.
It is difficult knowing which products/systems to choose as there are so many.
Hopefully I won't get scammed along the way.
Cheers!
Badd :cool:
 

justyn

Well-known member
272 0
Hi Badd,

I am a newbie myself.

I have read numerous trading books.

Why not have a go at trading without actually risking any money? Sites like tradindex.com let you trade with "virtual" money so there is no risk. You say you've read numerous books, maybe some hands on practical experience would teach you a lot more than reading more theory?

Good luck!

Justyn.
 

Uncle

Established member
671 2
Badd Boi........If you are thinking of spread betting I would suggest you bet on individual shares before you try Indices if you dont want to get wiped out swiftly.

Bet the minimum stake for starters and include a stop loss immedately after you place your bet and this will help you with your money management.

There are many posts on this Board warning against "Get Rich Quick"!!! Trading, whichever market or instrument you choose, requires dedication and persistence to succeed, and if your capital gets wiped out, you will give up and probably think why can others make money and I cant.

I have observed many who think it is a game of chance, and whilst I dont liken it to gambling; as any good poker player will tell you, timing of is of the essence whether to cash in or hold your cards to see what others play.

Be prudent in all you do, and remember the trend is your friend, be patient, await your opportunity, use a STOP LOSS on EVERY trade, and this at least should help you along the path you wish to travel.

Best wishes

John
 
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badd boi

Member
52 1
justyn said:
Hi Badd,

I am a newbie myself.



Why not have a go at trading without actually risking any money? Sites like tradindex.com let you trade with "virtual" money so there is no risk. You say you've read numerous books, maybe some hands on practical experience would teach you a lot more than reading more theory?

Good luck!

Justyn.
Thanks Justyn,
Good idea.
I'm not ready to trade real money just yet.

Has anyone tried the SB CD'S from the likes of Clickevents?
Are they any use?
Cheers
Badd
 

badd boi

Member
52 1
Uncle said:
Badd Boi........If you are thinking of spread betting I would suggest you bet on individual shares before you try Indices if you dont want to get wiped out swiftly.


Best wishes

John

Hi Uncle,
To Be truthful I had every intention of giving the indexes a ago first - my first big mistake!
I would not have known this and do not understand why it would be a bad idea.
So please feel free to expand on this John. It sounds like something every newbie should be aware of.

Uncle said:
Be prudent in all you do, and remember the trend is your friend, be patient, await your opportunity, use a STOP LOSS on EVERY trade, and this at least should help you along the path you wish to travel

Do you mean a mental Stop Loss or an actual Stop Loss whenever you place your order?
Thanks for taking time out to help us newbies John.
Badd Boi
 

Uncle

Established member
671 2
The reason I say try individual shares first is that I do not know what time you have available, and I assume you are in full time employment at the moment nd not able to watch a screen for too long at a time. The individual shares yuo will probably trade from daily charts rather than intraday and will probably move a few points at a time whereas the indexes can move more than 100 points. As for stops........I mean an actual stop!!!! Do not be tempted to hold a mental stop, for it is a known fact that you are unlikely to hit the stop, and will probably think the price will pull back. Believe me it rarely does.
Decide what your stop should be relative to the volotility of the instrument being traded and stick with it.
Taking losses - small ones of course - is all part of trading successfully!!!

As you havent jumped in to trade yet, you do appear to have some patience, which is a plus factor in trading. Paper trade first through one of the many simulaters that spread betters offer, I found Capital Spreads to be excellent as it is an exact version of the real time and works well.

Trusting the above helps.

John
 

badd boi

Member
52 1
Uncle said:
The reason I say try individual shares first is that I do not know what time you have available, and I assume you are in full time employment at the moment nd not able to watch a screen for too long at a time. The individual shares yuo will probably trade from daily charts rather than intraday and will probably move a few points at a time whereas the indexes can move more than 100 points. As for stops........I mean an actual stop!!!! Do not be tempted to hold a mental stop, for it is a known fact that you are unlikely to hit the stop, and will probably think the price will pull back. Believe me it rarely does.
Decide what your stop should be relative to the volotility of the instrument being traded and stick with it.
Taking losses - small ones of course - is all part of trading successfully!!!
Trusting the above helps.
John

How about if I told you the I could devote as much time as it requires and at any time of the day.
From what understand of what you say(and please kindly correct me if i am wrong); if have the time an am able to watch the screen. Then, the Indexes might not be a bad place to start?
I am not trying to put words into your mouth or misconstrue what you are saying.
Please don't think that for one minute, John.
It was just that I had initially considered trying the Indexes first to give me an overall feel for the thing, to see how that would work for me.
And as you point out it all depends on the amount of time you have to devote to the project.
My thinking is from what you say is:
If the Indexes can move the way you say and if i have the time to watch them. then it might not be a bad thing for me to consider.
I will gladly scrap this idea if you or anyone else can give me good reasons or thinks it too risky.
Appreciate the good advise.
Badd.
 

Uncle

Established member
671 2
Badd boi.................. then by all means dip your toe in the water............read the posts by Chartman where you will find some good info on the Dow!!!!

John
 

badd boi

Member
52 1
Uncle,
I won't be getting my feet wet for another six months, as I feel I am not prepared enough just yet.
Thanks for the advise on the Dow/Mr Charts.
Do you you or anyone happen to know of any good up to date books on trading the Indices's.
I could do with getting a good grounding on it first.
Badd
 

Uncle

Established member
671 2
Badd Boi..........You do at least sound a sensible person, and glad to hear you wish to get a good grounding before committing your cash. By the way it is Chartman i referred to regarding posts on T2W, not Mr. Charts, who I understand does one to one training..........but that is another factor for you to consider.

I would suggest you try to get a grounding in Technical Analysis first and a book I have no hesitation in recommending is "Technical Analysis of the Financial Markets" by John Murphy. Also "The way to trade" by John Piper, which deals with the psychology of trading.



Best wishes

John
 

techtrader

Member
95 2
Uncle said:
Badd Boi..........You do at least sound a sensible person, and glad to hear you wish to get a good grounding before committing your cash. By the way it is Chartman i referred to regarding posts on T2W, not Mr. Charts, who I understand does one to one training..........but that is another factor for you to consider.

I would suggest you try to get a grounding in Technical Analysis first and a book I have no hesitation in recommending is "Technical Analysis of the Financial Markets" by John Murphy. Also "The way to trade" by John Piper, which deals with the psychology of trading.



Best wishes

John

I second your choice john. Also "Trading for a living" is a good read, but before spending lots of cash on books try your local library. Here at Colchester we have dozens of trading books on their shelfs.
Good luck
its a great game to be in, As Uncle said always workout your stop loss before you trade, place it when you pull the trigger.
IMHO it is the most important rule in trading you can have.

Regards
Dave
 
 
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