What market do you intend to trade?

[shirkan]

I was asked about this " what market do you intend to trade?"

I do not know what, since i am still learning.

As for a newbie like me? What can you suggest.

 

[vettelsfinger]

Hi Shirkan,

I am also a newbie trader and if I read between the lines, I suffered from the same problem as you when I first started out. I find there is a lot of choice out there with brokers, promotions and crucially assets to trade. My approach was to see what I wanted from my trading and also where my interests lie and finally I picked an asset that was best suited to me.

So if you want to trade in the day and/or try to make your trading targets quickly, I would suggest a market that has good volatility for the hours you plan to trade, EUR/USD or Dow/FTSE. If you are in for long term gains and your strategy is building value then focus on Single Equities or Bonds. Blue Chip companies if traded correctly can be more long term focused.

Secondly, you should match the market that you choose to your interests or timezone. This way it is easier to relate and understand what is going on, and crucially how it impacts your trade. My example is that I have an interest in global current affairs, so the EUR/USD is often driven by economic data from the ECB or Federal Reserve, my interest makes it easier to understand what is driving the markets (although making a trading strategy around that is another matter). I would be clueless if it came to Japanese politics so that rules out the Yen pairings.

In terms of equities it could be helpful to follow this advice too. If you have an interest in Aviation for example maybe Aviation stocks and the markets that they reside within are the ones for you.

I hope that this helps, it is a simple approach but one that could enhance your chances of success and crucially learning from mistakes!

Thanks
Tom

 

[timsk]

I was asked about this " what market do you intend to trade?"

I do not know what, since i am still learning.

As for a newbie like me? What can you suggest.

Hi shirkan,
I have a challenge for you . . .
Post a question or a new thread that doesn't ask one of the basic questions covered comprehensively in this list of 20 frequently asked questions about trading: Trading FAQs

The one that addresses this thread topic is number 11. If having read the FAQ, you have subsequent questions or don't understand something, by all means post specific queries and members will do their best to help you.
Tim.

 

[shirkan]

Hi Shirkan,

I am also a newbie trader and if I read between the lines, I suffered from the same problem as you when I first started out. I find there is a lot of choice out there with brokers, promotions and crucially assets to trade. My approach was to see what I wanted from my trading and also where my interests lie and finally I picked an asset that was best suited to me.

So if you want to trade in the day and/or try to make your trading targets quickly, I would suggest a market that has good volatility for the hours you plan to trade, EUR/USD or Dow/FTSE. If you are in for long term gains and your strategy is building value then focus on Single Equities or Bonds. Blue Chip companies if traded correctly can be more long term focused.

Secondly, you should match the market that you choose to your interests or timezone. This way it is easier to relate and understand what is going on, and crucially how it impacts your trade. My example is that I have an interest in global current affairs, so the EUR/USD is often driven by economic data from the ECB or Federal Reserve, my interest makes it easier to understand what is driving the markets (although making a trading strategy around that is another matter). I would be clueless if it came to Japanese politics so that rules out the Yen pairings.

In terms of equities it could be helpful to follow this advice too. If you have an interest in Aviation for example maybe Aviation stocks and the markets that they reside within are the ones for you.

I hope that this helps, it is a simple approach but one that could enhance your chances of success and crucially learning from mistakes!

Thanks
Tom

Truelly I have been bugged out yeah talking about understanding traded currencies. I was like having an headache remebering everything. maybe because of my eagerness to learn. I've also read trading sessions and there are a lot of suggestions when to trade each day. Since you have mentioned EUR/USD .. i will have to get deep idea with this currency trading.

 

[shirkan]

Hi shirkan,
I have a challenge for you . . .
Post a question or a new thread that doesn't ask one of the basic questions covered comprehensively in this list of 20 frequently asked questions about trading: Trading FAQs

The one that addresses this thread topic is number 11. If having read the FAQ, you have subsequent questions or don't understand something, by all means post specific queries and members will do their best to help you.
Tim.

My ideas was I can jump off in any trading hours whenever i want to. Apparently upon reading stuffs about trading sessions, The idea implied was to trade according to what seems to be easy for me. Did I get the story of what trading sessions is? or I am just too shallow about how I understood it.?

 

[timsk]

Did I get the story of what trading sessions is? or I am just too shallow about how I understood it.?

Hi shirkan,
Sorry, but I'm afraid I don't understand what you're asking here?
Tim.

 

[Shakone]

I specifically like trading in the USD/EUR majors. I also have a flair for precious stones trading; so I could go offshore. There, I realise that not all of them are scams; some just prefer the jurisdiction and investor welcoming atmosphere offshore. For one thing the entry requirements onshore can be suffocating especially the FIFO, no hedging or scalping restrictions that are supposed to protect the trader from losses. This is why many of us could be going offshore; even their transparency is getting preferable to those licensed. I am getting bored of the class actions and sanctions we hear regularly onshore; even licensed brokers could be very suspicious.

If I lived in Nigeria, I'd go offshore too.

 

[robertofx]

My ideas was I can jump off in any trading hours whenever i want to. Apparently upon reading stuffs about trading sessions, The idea implied was to trade according to what seems to be easy for me. Did I get the story of what trading sessions is? or I am just too shallow about how I understood it.?

London, London and US overlap are the best time to trade with adequate liquidity & trend

 

[shirkan]

Hi shirkan,
Sorry, but I'm afraid I don't understand what you're asking here?
Tim.

I was asking to myself if i have understood the idea thru what i have read. Or maybe I have but not the whole story of the reading content.

 

[shirkan]

what does this even mean?

as I can see, he is just explaining what this forum should be. I am a newbie and I kept on asking because i thought veterans would answer but some just a little bit pointed me to quit and change my plans rather than learn to trade.,