Next Step...?

[Ashley Henry]

Hi,

I am fairly new to spread betting.

I have all the basic knowledge which can be found in beginners books, I know about stop losses, Guaranteed stop losses, spreads, how I am paid, leverage, how to place a bet, how to cash out. My question is what do I do next, I have an account with finspreads and have dabbled in a few bets and ended up in profit, but there was not much strategy to it, more like a gamble to be honest, based on which was i thought it was going to go.

Now do I need to learn how do read charts, or just research companies which I will be betting on or anything else.

I await your help

Thanks

Ashley Henry

 

[Jimmy Lulz]

Demo trade and keep records and notes as you begin to develop a method.

 

[Ashley Henry]

Thanks, keeping notes of what exactly and how do I create a method?

 

[Jimmy Lulz]

Thanks, keeping notes of what exactly and how do I create a method?

Where to start?

Research concepts like support and resistance and price action (there is stuff on here, forex factory etc), and start applying them ON DEMO. As you do this, you'll begin to see patterns emerging, things will catch your eye etc. If you are serious you are looking at thousands of hours of work.

Good luck.

 

[Ashley Henry]

I am not trading Forex, Is there any books you can recommend on the subject of Support and resistance and technical analysis?

 

[Jimmy Lulz]

I am not trading Forex, Is there any books you can recommend on the subject of Support and resistance and technical analysis?

Doesn't matter, forex factory isn't about forex. Good books? Reminiscences of a Stock Operator and How to trade in Stocks.

 

[Ashley Henry]

could you please post the link to the forex factory please, i put it in the search box and could not locate....

 

[Jimmy Lulz]

could you please post the link to the forex factory please, i put it in the search box and could not locate....

Not sure if that's allowed - it's a bit cheeky posting a link to another site. There are lots of good threads on here - do some searching.

If you want forex factory as well, put it into google, it's the first site that comes up.

 

[Ashley Henry]

sorry i thought the forex factory was located on this site, i.e. somebody had written it....

 

[Brock Landers]

Post removed because intended recipient proved to be a snotty little sh!t

 

[Ashley Henry]

did you take the time to write the above all by yourself??^^^^^

 

[Brock Landers]

I am masturbating to pornography on another screen as well. Multi-taskin'.

 

[Ashley Henry]

I really appreciated Jimmys help as he actually read what i posted, responded and actually gave me useful ideas and sources of information, you on the other hand have just copied and pasted some random stuff that had nothing to do with what I asked....I've seen you other posts on other threads, you are an idiot.

 

[Jimmy Lulz]

did you take the time to write the above all by yourself??^^^^^

Yeah he did but it's old. He posts it on flamboyanthomosexualtrader.com all the time when he's trying to impress new members.

Actually, in all seriousness that post has got a lot of good stuff in it. It gels quite well with the second book I recommended.

The approach outlined above is an excellent way to start - in fact, in terms of method, you really don't need a great deal more than that.

 

[Jimmy Lulz]

I really appreciated Jimmys help as he actually read what i posted, responded and actually gave me useful ideas and sources of information, you on the other hand have just copied and pasted some random stuff that had nothing to do with what I asked....I've seen you other posts on other threads, you are an idiot.

Don't be hasty, it's a seriously good post. It's well worth following his advice.

 

[Brock Landers]

I really appreciated Jimmys help as he actually read what i posted, responded and actually gave me useful ideas and sources of information, you on the other hand have just copied and pasted some random stuff that had nothing to do with what I asked....I've seen you other posts on other threads, you are an idiot.

southpaw-lulz

:cheesy:

 

[Benji871]

I am not trading Forex, Is there any books you can recommend on the subject of Support and resistance and technical analysis?

Good books:

Author: Jesse Livermore:

Reminiscences of a stock operator. (The story of Jesse Livermore).

How to trade in stocks (Jesse livermore and how he did it).

These books are not about technical analysis but are good books non the less. Jesse livermore operated up to 1940 and made millions in 1929. He does however mention pivot points and some form of support and resistance in his writing through observation.


Author: John Murphy:

Technical Analysis of the Financial Markets (NOT THE STUDY GUIDE). - Bit expensive but goes through everything like support and resistance, trend following, some indicators, price and volume etc. Its quight a big book. It has been called the bible of technical analysis and in my opinion best information book about technical analysis that i have had the pleasure of reading. I would recomend this one if you only had to purchase one.

Visual Investor - How to spot market trends (new edition 2010/11?). - Helps with technical analysis such as support and resistance, how to drawn trend lines correctly etc - the examples are recent as of 2011.

These books from John Murphy are technical analysis.


Author: Steve Nison.

Japanise candlestick charting techniques. - Book about charts in the candlestick form which i find good information and display form in interpreting price action data.

This book is a form of technical analysis to do with predicting price movements using a certain chart (candlesticks) which is available with most if not all spreadbetting companies.


Author: Jack D Schwager.

Market Wizard
The new Market Wizards
Stock Market Wizards

The Market Wizard books are trading books about how successful traders it is a book of interviews through questions and answers. Technically it is not technical analysis - but has a lot of useful insights.


These books i have found to be very good for me personally and if you decide to read them i hope they help you also.

 

[Ashley Henry]

Thank you, I have just ordered Technical Analysis of the Financial Markets, so will be looking forward to learning the all elements of TA.

 

[Brock Landers]

Are you just going to ignore the advice I gave you?

 

[the_coumiester]

I am masturbating to pornography on another screen as well. Multi-taskin'.

Ah for the love of god, man. LOL