Ask ANY trading related question!

[drfc147]

qarma technology

Hello,
I have a question. I am just a simple soul who has no shares to my name, although I have watched my Father spout doom and gloom about his portfolio over the years..! I have been contacted by a company called Clayvard Ltd (London) who I guess most of you know, trying to get me to invest as a private equity client anything up to £50k for an almost ready for the market opportunity in something called Karma. It is some fabulous market prediction programme. Should I walk away or does it merit some looking into.Karma Technology - Atlanta I.T. Consulting and Computer Management
Dave😕

This new sticky thread is targeted to all new members and existing members who are making their first posts.

In this thread, feel free to ask ANY question relating to trading, however simple you think it is. Our forum advisors and more senior members will be happy to answer them for you! :smart:

:!: If you think your question requires more than a quick reply, it's best to create a new thread in the appropriate forum, so that a discussion about it can develop.

 

[pg146]

Hi All
New to buying shares and new to this site.
Any ideas what sites can provide me with FREE realtime FTSE share prices?
thanks

 

[pg146]

Opps - guess that was a silly question

 

[timsk]

Should I walk away or does it merit some looking into.

Hi drfc147,
Welcome to T2W,
The name doesn't ring any bells with me - either good or bad. That said, companies that tout for business in the way that you imply are often 'boiler room' scams designed to part you from your money. I'm not saying that this is one of those - it probably isn't - nonetheless, be very, VERY careful and do extensive research before parting with any money. Here's a link to a thread devoted to the scams - some of which are very sophisticated and highly plausible - even to supposedly market savvy enthusiasts like us lot:
http://www.trade2win.com/boards/brokerages/14154-boiler-room-scams.html?highlight=boiler+room
caveat emptor etc. . .
Tim.

 

[timsk]

Opps - guess that was a silly question

HI pg146 and welcome,
The question is perfectly reasonable, but it has been asked 100 times before which is why there's a 'Trading FAQ' devoted to it. Here's the link:
http://www.trade2win.com/boards/tra...ing-free-charts-technical-analysis-tools.html
Enjoy!
- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Anyone new to the site that isn't sure where to start (it is BIG!), scroll to the bottom of the page. There you will see two headings in blue type:
New To Site?
and
Need Help?
There's a link to 'Trading FAQs' there and a host of other useful stuff that'll tell you 99% of what you need to know.
Tim.

 

[mahla]

Hi everyone, fairly new to this site and I have been trading and working out my system for under twelve months. I have a question regarding spread betting companies, I have read about them having the ability to run a stop loss or chase a stop loss??? not sure what the phrase is. This allows them to stop out bets and so making them money. I can see how this is possible as they will have all the betting information at their finger tips, but is this true or a myth.

 

[new_trader]

but is this true or a myth.

Depends on how often your STOPS get hit.

 

[mahla]

Depends on how often your STOPS get hit.

Well my stops do get hit occasionally but i did not think too much in to this ( as this is part of trading) until I read on this forum about this practise, thought about it and realised this could happen. It is more likely a conspiracy thoery but I thought I would ask the question

 

[RobinR]

How low is the pound going to drop against the dollar? Any predictions?

 

[mastroiani]

Hi, I was very dumb to forget that markets close on Fridays (you can guess I'm a newbie) and i kept my position open and trading at FXCM closed leaving me -110 pips on a Mini account (around 110 dollars) on EUR/USD at 1.26804. Market seem to be going down more as i checked another broker's chart that was still open and closed at 1.25960.

What's going to happen by the time they open up on Sunday? If the market opens higher or lower?

Thanks a lot

 

[UKtradergirl]

Hi, I was very dumb to forget that markets close on Fridays (you can guess I'm a newbie) and i kept my position open and trading at FXCM closed leaving me -110 pips on a Mini account (around 110 dollars) on EUR/USD at 1.26804. Market seem to be going down more as i checked another broker's chart that was still open and closed at 1.25960.

What's going to happen by the time they open up on Sunday? If the market opens higher or lower?

Thanks a lot

Oh dear. You are in trouble if it keeps going down. Did you put a stop loss on your position? If not, then you will just keep on losing money as long as the market is going against you (and depending on the policy on your account, they could close the position if your balance runs out or let it run into negative numbers a certain extent and make you pay up the remainder- thankfully most firms will close the position if your account reaches 0.00).

Why did you let it go 110 pips against you in the first place??? It seems a long way to let a trade run without closing out anyway.

Think of any money you lose as a business expense- a lesson- perhaps an expensive one but make sure you learn from it, so you get your money's worth! (i.e. next time don't let trades run against you so far, and if you are not willing to hold a position over the weekend be very aware of what time of day/week it is).

 

[UKtradergirl]

Well my stops do get hit occasionally but i did not think too much in to this ( as this is part of trading) until I read on this forum about this practise, thought about it and realised this could happen. It is more likely a conspiracy thoery but I thought I would ask the question

Stop hunting by spreadbetting companies is a load of rubbish and a myth. Especially if you are only betting small amounts... say, £50 a point or less. Even on larger positions of say £100 a point or more, they make so much money in the spread they have no desire to chase your stops.

Also, if you are betting say £1 or £2 a point or so, do you think they would really pay someone to sit there and manipulate the market quotes against you on purpose?

A lot of the time the market itself does a very good job of hunting people's stops. Not SB companies.

I think some people feel stop hunted sometimes because they do not take into account when placing their stops that you have to include the spread also. e.g. you could get stopped out if your stop is at 100, even though the market only reached 98, because of the spread.

 

[mastroiani]

hi. Thanks a lot for your reply. Yes indeed an expensive lesson for me. I was sitting in front of computer all day and left right near the closing for a few minutes. I usually place manual stops. When I came back it was too lAte 🙂. I will follow a strict rule from now on. Only trade 3 hours in the morning and of course put stops. No trading on Fridays!

But hey what if I'm lucky and the price starts going up. What's going to happen then? What of it opens higher then when it closed ?

 

[fantastic4]

Welcome shalmaliabarki! Great question!

You'll have to spend quite a bit of time learning the different one, and finding which ones, if any, are for you. There is an indicator section on this website, and investopedia.com has a plethora of info as well. Good luck, hope it helps.

 

[mastroiani]

also aren't markets closed over the weekend why would the price be moving anyway?

 

[UKtradergirl]

hi. Thanks a lot for your reply. Yes indeed an expensive lesson for me. I was sitting in front of computer all day and left right near the closing for a few minutes. I usually place manual stops. When I came back it was too lAte 🙂. I will follow a strict rule from now on. Only trade 3 hours in the morning and of course put stops. No trading on Fridays!

But hey what if I'm lucky and the price starts going up. What's going to happen then? What of it opens higher then when it closed ?

Well if the price goes up then you will gain of course (unless the system stops your trade out at a loss, then you will lose).

Good luck

 

[UKtradergirl]

also aren't markets closed over the weekend why would the price be moving anyway?

Forex is actually 24/7 and does not close on weekends. However, forex brokers do close at the weekend. 🙂

 

[swetaj]

Hi,
I am new in US.Would like to know how and where should i open my stocks trading account.

Thanks

 

[UKtradergirl]

Hi,
I am new in US.Would like to know how and where should i open my stocks trading account.

Thanks

At a stockbrokers? I don't know about in the US but here in the UK you can purchase stocks through your bank stockbroker service. Try asking your bank. Otherwise, just do a google search for stockbrokers.

After a quick search on google i did find this very useful information for you:

Guide to America's Top Stockbrokers

They actually have a list on there of some good stockbroker websites to look at.

 

[montmorencyt2w]

Candle Patterns - Do they actually work?

Do many people find that candle patterns actually work in practice, or are they just a load of superstitious, eastern-mysticism hooey?

Or if not the latter, can be made to look like they "work", with a lot of post-hoc rationalisation or hindsight, but could not actually predict night following day.

To those about to reply "yes, but not in isolation", what other tools, in combination with candle patterns, have you personally found to be effective, and which candle patterns are the most effective.

I have to say that I am sceptical, but I am happy to learn from your experience.