The 'puzzle' nature of trading is part of the truth I'm sure. There has to be more satisfaction from even a successful enterprise (trading or any other) than just the money. This is even more true when the enterprise is demanding and difficult and actually generates financial loss.
Some successful traders actually say that the money isn't the thing, it just helps them keep score.
Scrappy, i have said before that trading is easy, and i believe it is. But i have to admit i do not trade for a living so i suppose i have a psychological safety net ( my job ). Saying this, the money i am using to trade with is my hard earned money and i dont want to lose it. Someday though i would like to trade for a living.
I can tell you why 'unsuccessful' traders are on this site.
I do not consider myself unsuccessful as I do not consider myself a trader yet, even though I have been 'dabbling' for approx 18 months.
It has taken me all this time just to find instruments that I am at ease with and have only just started real trading them, bit of a roller-coaster at the moment, but I will give it time.
However, from my point of view, the main reasons I use this site is for the completely unbiased advice you get, no matter how basic the question, nor are newbies made to feel stupid, something which can happen easily on other sites.
I have asked questions ranging from technicalities to absolute total trading basics and have always had a courteous, understandable and constructive reply.
I would urge all newbies to ask their questions and not be afraid to look silly.
well put orchard i am new to the trading arena and i felt i could ask any queastion om this forum.I am looking to trade from home but am kinda unsure on the right software i dont want to be blinded by science lol.I want to trade the ftse uk stocks and nyse i would appreciate any advice on monthly charges etc .
First of all, good luck with trading.
Secondly I am really not the right person to ask about trading software. I only use Sharescope who only do the British market, the rest of my info comes from the SB companies and the odd freebie chart. Unfortunately they are not usually real time.
I have now decided I am doing currencies with a dabble in gold when the time seems right.
I'm sure you will get plenty of answers, but perhaps your questions would be better directed to the beginners board.
software for charting is real easy to choose since you get what you pay for me - so if you are starting out - try and just get a 30 day trial on the most expensive one you can find, and then find out every nook and cranny in it for those 30 days
then you will be able to evaluate all the other suppliers - maybe have a few more free trials etc
UK charting companies seem to not be very good from what i have seen and not reliable from what i have heard - so that may inch you toward US companies
It's not so much the charting software that's unreliable- more the data feed supplier.... You'd have to go a long way to beat Sierra for intraday/ short term, but NOT EOD. Cheap too. Will do both USA and UK.
i'll agree with you on sierra chartman very convenient is sierra !!( use tradestation too though ,but tried em all ( just about in my time)!! but as for succsessfull traders , the only rule is to be succsessfull, the details? who cares!!!