New Trader needing help where to start

Dawi03

Newbie
7 0
Hi guys,

I am interested in doing some trading but I dont know where to start. I found this site after a search for Trading forums. I have around 5-8k on hand to start my trading as I am from Australia and have opened an ETrade account. I will open anything else that I need to.

Anyway I was wondering where I can start researching this area or if there is someone that can point me to a thread on where to start. I like the idea of day trading and/or short timeframe trades maybe 1-2 weeks. I dont mind Forex trading either.

What is your opinion on BetOnMarkets? is this any good for an Australian Trader?

Is there any particular trading software I could look at to give me chart info etc that is for the Novice Trader?

I have read up on some companies like Global Markets Australia sending me trades, but they wanted $10k for this, I am not going to give anyone my money, I would rather lose the 10k and learn a lesson than give it to someone else for me to lose and not get educated.

Any help would much be appreciated if you can point me in the right direction.

thanks
Jarrad
 

Dawi03

Newbie
7 0
Thanks mate,

If Betonmarkets isnt the way to go, what other sites are there that are equivalent?

My plan, is a rough one, but to start with a bankroll of say $5000, and risk 1% each trade I do, with a stop gap if possible so lets say bet or trade to win $50, this minimises the risk for me. I am not sure if this is smart or not but at least it will give me a long term view instead of risking it all.

As I said it is rough but this is because I havent had much guidance yet about what to do. If someone could help it would be much appreciated.
 
Last edited by a moderator:

thepom

Member
91 4
Thanks mate,

If Betonmarkets isnt the way to go, what other sites are there that are equivalent?

My plan, is a rough one, but to start with a bankroll of say $5000, and risk 1% each trade I do, with a stop gap if possible so lets say bet or trade to win $50, this minimises the risk for me. I am not sure if this is smart or not but at least it will give me a long term view instead of risking it all.

As I said it is rough but this is because I havent had much guidance yet about what to do. If someone could help it would be much appreciated.
Check out Zulutrade.com. Also do a search here on Trade2win for zulutrade threads

Then open a zulutrade DEMO account for 3 months.

Then trade small.

Then trade bigger.

Then trade like a champion "Master of the Universe" trader.

Then go bust.

Then start again.
 

Dawi03

Newbie
7 0
Check out Zulutrade.com. Also do a search here on Trade2win for zulutrade threads

Then open a zulutrade DEMO account for 3 months.

Then trade small.

Then trade bigger.

Then trade like a champion "Master of the Universe" trader.

Then go bust.

Then start again.


Whats so good about Zulu trade? I am looking at doing some Binary trading as this is quick and easy too. Is Zulu Trade aussie friendly?
 

pboyles

Legendary member
8,072 1,301
Thanks mate,

If Betonmarkets isnt the way to go, what other sites are there that are equivalent?

My plan, is a rough one, but to start with a bankroll of say $5000, and risk 1% each trade I do, with a stop gap if possible so lets say bet or trade to win $50, this minimises the risk for me. I am not sure if this is smart or not but at least it will give me a long term view instead of risking it all.

As I said it is rough but this is because I havent had much guidance yet about what to do. If someone could help it would be much appreciated.
Jarrad

Do not believe any of the crap you are being told. None of these signal providers are any use. The vast majority of them are scammers. Take your money out of that trading account and put it in the bank. Don't even attempt to trade until you know what you are doing. Stay well clear of people like Stone, they are only here to sell crap to people like you.
 

Dawi03

Newbie
7 0
Jarrad

Do not believe any of the crap you are being told. None of these signal providers are any use. The vast majority of them are scammers. Take your money out of that trading account and put it in the bank. Don't even attempt to trade until you know what you are doing. Stay well clear of people like Stone, they are only here to sell crap to people like you.

I am not listening to any of it, I have done my own research, the only way to know what I am doing is by someone showing me or pointing me in the right direction. With all due respect, mate if you can point me to a website that is free or give me some tips on where to look it would be much appreciated, dont just tell me to not trade and put my money in a bank as this is no help to me at all. Dont worry I wont be paying anything for anyones trades as this is pointless to my education
 

justtrader

Well-known member
470 71
Only posting here as I do not have anything else to do.
First let me point you in the the direction of babypips, great site for learning the basics
everything on there is free.
Pay particular attention to price action.
Trade a small account keep an eye on the points you take rather than the actual amount.
Aim for 20-40 points a day and consistancy,
On another thread someone pointed out that you are successful when trading becomes boring.
this is very true.
Join us on the live thread some of the posters explain why they have taken trades there.
 

pboyles

Legendary member
8,072 1,301
I am not listening to any of it, I have done my own research, the only way to know what I am doing is by someone showing me or pointing me in the right direction. With all due respect, mate if you can point me to a website that is free or give me some tips on where to look it would be much appreciated, dont just tell me to not trade and put my money in a bank as this is no help to me at all. Dont worry I wont be paying anything for anyones trades as this is pointless to my education
Actually it's a great help to you and will save you about $10,000.
 

timsk

Legendary member
7,087 1,880
Any help would much be appreciated if you can point me in the right direction.
Hi Dawi03,
Welcome to T2W.

I'm always surprised by some of the replies given to new members like your good self who post asking for advice on where to start. Having found a site that's FREE, that's been going for 10 years, with loads of resources and many experienced traders - the first thing you're told is to go to another site! Very, very, odd! There's everything you need right here to get up to speed on all the basics and be in a position to answer all of the key questions about what to trade, what timeframe and what broker etc. etc.

Start with the first two links in my signature and follow your nose from there. There's a self guided trail that's easy to follow. No cost, no one telling you to do this or not to do that, just basic information which will help you find your own way. One thing worth mentioning though - it will take a lot of hard work; there are no short cuts.
Enjoy!
Tim.
 

justtrader

Well-known member
470 71
Hi Dawi03,
Welcome to T2W.

I'm always surprised by some of the replies given to new members like your good self who post asking for advice on where to start. Having found a site that's FREE, that's been going for 10 years, with loads of resources and many experienced traders - the first thing you're told is to go to another site! Very, very, odd! There's everything you need right here to get up to speed on all the basics and be in a position to answer all of the key questions about what to trade, what timeframe and what broker etc. etc.

Start with the first two links in my signature and follow your nose from there. There's a self guided trail that's easy to follow. No cost, no one telling you to do this or not to do that, just basic information which will help you find your own way. One thing worth mentioning though - it will take a lot of hard work; there are no short cuts.
Enjoy!
Tim.
With all due respect Tim,
There is no site better than babypips for learning the basics
I will also add, yes there are great resources on this site as well!
 

the hare

Senior member
2,949 1,283
Having found a site that's FREE, that's been going for 10 years, with loads of resources and many experienced traders - the first thing you're told is to go to another site! Very, very, odd!
Tim.
Not odd at all !

You are correct that much of the knowledge required is available at t2w but it takes some digging to find it, and of course, most won't recognize fact from fiction even when thy find it.

The main reason people recommend baby pips is that they've dumbed down their educational resources to such an extent that practically anyone on the planet can understand the nonsense written over there. Spending a couple of years reading posts at t2w takes work, browsing second rate "educational" material at baby pips is just easier, and equally effective in the short term. Most people are looking for an easy way out

You already know this stuff and so do baby pips, it's just that they took action and are now reaping the benefits.
 

Aesop20

Member
51 1
Well even if it is dumbed down... BabyPips School seems to work for a lot of people, i'd suggest doing that but also sticking on the forum here and learning a thing or two from people.. but like any forum you have to sift for the gold :)
 

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