Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
Mik
No problem at all. I just hope you found it all informative
Best
NB
No problem at all. I just hope you found it all informative
Best
NB
Evening trading US shares
- Thread starter Mr. Charts
- Start date
- Watchers 80
andrewmooton
Active member
- Messages
- 192
- Likes
- 1
I was just wondering if there are similar rules to opening a direct access account as the six months experience rule with opening a CMC or FXCM account.
It seems like if I want to get into forex then i'm being forced to start out with spread bets which seems a bit silly.
It seems like if I want to get into forex then i'm being forced to start out with spread bets which seems a bit silly.
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
business planning
It isn't silly when you cant trade and you blow £20k and want to blame someone but yourself for being an idiot.
No-one with any sense drives a car without first learning
No-one can fly a plane without being first show and trainded to be proficient to fly it took centuries to "figure it out"
And we were all shown how cross the road carefully when i was a child with the green cross code.
You wouldn't start a business without first researching your market, writing a business plan, cash flow, projection having loss procedures, emergency provisions for the times when you dont make money so why do people think that all these rules dont apply to them when they first start out trading is absolutely absurd.
If you dont have experience, get some that means paper trading and understanding the business environment you are entering.
If you cant wait then do what everyone else does and lie on your application and then you can start crying about how much money you have lost, and why? Because you haven't got a clue as to what you were doing.
Most business's fail with in the first 3-6 month because they dont follow a prov-en business model that has worked for centuries... plan plan plan.
Even more business's fail within the firs 3 years because of a lack of sufficient planning
You can shave my nuts and call me silly if these aren't similar figures as when a trader starts out because the alleged 85% failure rate 10% break even and 5% winners isn't because of something to do with a business plan or lack thereof.
If you are having problems with opening a spreadbet account with a measly £1000 you are really going to have trouble opening a direct access account to trade the nasdaq.
When you are starting out a trading account is the last thing you want to open otherwise you may as well take your money and go to the casino.
Most people starting a business will focus on the thing s that are easy.. thinking of a name, business cards, bank account, job title, dream about all the money that you are going to make. But its all bolox if you haven't thought about what you business is.
Learn about what you are doing before you do it... you used to be a teacher and surely you learnt about your subject before you actually taught people? and that took you years, dont think that this wont be either.
All this is meant to be realistic. Shocking and hurtful this may appear to some but I'm not some darren winters trying blow you off for a £3,000 seminar and tell you that "this time next year your going to be a millionaire"
When Ive spoken and coached people ive had one to many people ask me my secret recently. The secret is there is no secret.
Two final words Business plan
Kind Regards
Newtron Bomb
It isn't silly when you cant trade and you blow £20k and want to blame someone but yourself for being an idiot.
No-one with any sense drives a car without first learning
No-one can fly a plane without being first show and trainded to be proficient to fly it took centuries to "figure it out"
And we were all shown how cross the road carefully when i was a child with the green cross code.
You wouldn't start a business without first researching your market, writing a business plan, cash flow, projection having loss procedures, emergency provisions for the times when you dont make money so why do people think that all these rules dont apply to them when they first start out trading is absolutely absurd.
If you dont have experience, get some that means paper trading and understanding the business environment you are entering.
If you cant wait then do what everyone else does and lie on your application and then you can start crying about how much money you have lost, and why? Because you haven't got a clue as to what you were doing.
Most business's fail with in the first 3-6 month because they dont follow a prov-en business model that has worked for centuries... plan plan plan.
Even more business's fail within the firs 3 years because of a lack of sufficient planning
You can shave my nuts and call me silly if these aren't similar figures as when a trader starts out because the alleged 85% failure rate 10% break even and 5% winners isn't because of something to do with a business plan or lack thereof.
If you are having problems with opening a spreadbet account with a measly £1000 you are really going to have trouble opening a direct access account to trade the nasdaq.
When you are starting out a trading account is the last thing you want to open otherwise you may as well take your money and go to the casino.
Most people starting a business will focus on the thing s that are easy.. thinking of a name, business cards, bank account, job title, dream about all the money that you are going to make. But its all bolox if you haven't thought about what you business is.
Learn about what you are doing before you do it... you used to be a teacher and surely you learnt about your subject before you actually taught people? and that took you years, dont think that this wont be either.
All this is meant to be realistic. Shocking and hurtful this may appear to some but I'm not some darren winters trying blow you off for a £3,000 seminar and tell you that "this time next year your going to be a millionaire"
When Ive spoken and coached people ive had one to many people ask me my secret recently. The secret is there is no secret.
Two final words Business plan
Kind Regards
Newtron Bomb
andrewmooton
Active member
- Messages
- 192
- Likes
- 1
Thankyou for your reply NB.
But the point of my post was to say that if it wasnt for spreadbetting, and I wanted to open an FX account then it would be pretty hard to get one opened since you need six months previous experience to get one opened and you can get experience without an account.
I'm not just trying to jump right in at the deep end but to get started you do indeed need an account.
Thats all.
But the point of my post was to say that if it wasnt for spreadbetting, and I wanted to open an FX account then it would be pretty hard to get one opened since you need six months previous experience to get one opened and you can get experience without an account.
I'm not just trying to jump right in at the deep end but to get started you do indeed need an account.
Thats all.
tradesmart
Experienced member
- Messages
- 1,286
- Likes
- 22
NB – post #23 – one of the best that I’ve seen……..
The very best of advice to all would-be traders…….
It is a business with many pitfalls for the unwary…..
Great Stuff
Regards
The very best of advice to all would-be traders…….
It is a business with many pitfalls for the unwary…..
Great Stuff
Regards
It's that money burning a hole in your pocket thing... bin there, did that, and yes, lost my shirt, even after blowing £1600 on a manning course. Andrew says he wants to go on a course..... Here's the deal. Put the course money in an SB account to play with. It will ( should) last a lot longer than the course memories. Save the other pot for later. Spend all your time going through the endless good posts on this BB. Teat the money as if it's your last chance. Chances are, that by the time you've blown it, you will have learnt 10 time what you would on any course.
What courses out there teach you how to deal with Fear and Greed? etc.etc.
What courses out there teach you how to deal with Fear and Greed? etc.etc.
Hello,
I've been following the thread and was reading with interest about the IB/CFD debate. Can you get a direct access CFD account with Level 2 for NASDAQ? I'm guessing if you could, then the spreads would be wider than the standard bid/ask or do you just pay higher commissions? I'm just thinking for people with limited funds it provide an effective way to scalp the NASDAQ.
Would be most grateful if anyone could provide some clarity on this or post any advice.
Cheers
Mikey K
I've been following the thread and was reading with interest about the IB/CFD debate. Can you get a direct access CFD account with Level 2 for NASDAQ? I'm guessing if you could, then the spreads would be wider than the standard bid/ask or do you just pay higher commissions? I'm just thinking for people with limited funds it provide an effective way to scalp the NASDAQ.
Would be most grateful if anyone could provide some clarity on this or post any advice.
Cheers
Mikey K
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
CFD's can provide excellent opportunities for trading nasdaq stocks. commissions are higher than DA spreads have been similar but this will change from company to company D4F, for example, is a yo yo game between spreads and prices during volatile times. Whereas IG effectively places the trade trade for you within the market and gives you a CFD price based on that direct transaction they have taken on your behalf. Alternatively trade single stock futures, no PDT rule
The ultimate answer is do some research into the products available to trade and understand what you are doing.
Regards
NB
The ultimate answer is do some research into the products available to trade and understand what you are doing.
Regards
NB
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
If ppl dont want to use CFD's and cant trade DA due to lack of funds then this is an often overlooked alternative.
On the whole if ppl cant afford to trade nasdaq then they shouldnt and stop complaining about it.
They should also look at what they are doing not just the trade set ups but also the vehicle that they choose to trade with. If an individual doesnt understand what is available or how to use them you are just creating more obstacles.
Kind Regards
NB
On the whole if ppl cant afford to trade nasdaq then they shouldnt and stop complaining about it.
They should also look at what they are doing not just the trade set ups but also the vehicle that they choose to trade with. If an individual doesnt understand what is available or how to use them you are just creating more obstacles.
Kind Regards
NB
Nasdaq CFD's
I have not heard of these - which brokerage trades them please?
Russell
I have not heard of these - which brokerage trades them please?
Russell
Newtron Bomb said:True, but it can be done successfully. I have traded nadsaq stocks since september with CFD's very profitably. Not as profitable or as efficent as i would have done with DA but i'm still taking the cream.
NB
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
D4F
IG
Mann/GNI
To name a few, check out the reviews section on the site and there will be a more detailed list for you
NB
IG
Mann/GNI
To name a few, check out the reviews section on the site and there will be a more detailed list for you
NB
rdstagg said:
dod
Member
- Messages
- 96
- Likes
- 2
Trading Nasdaq shares in the early UK evening is an approach I would like to look into. Can anyone suggest a suitable (composite) platform?
I currently (trading Dax, early mornings) use SierraChart with the IB feed.
To trade Nasdaq shares, I could use IB; but to chart anything intraday, IB wouldn't be much use since their data doesn't 'backfill', so far as I know. Also, I've heard their Level 2 is poor.
Does anyone have any views on a reasonably priced platform that would provide 'good' Level 2, T&S, and real time (also short term historical) data and charting for Nasdaq shares?
Cheers,
Dod
I currently (trading Dax, early mornings) use SierraChart with the IB feed.
To trade Nasdaq shares, I could use IB; but to chart anything intraday, IB wouldn't be much use since their data doesn't 'backfill', so far as I know. Also, I've heard their Level 2 is poor.
Does anyone have any views on a reasonably priced platform that would provide 'good' Level 2, T&S, and real time (also short term historical) data and charting for Nasdaq shares?
Cheers,
Dod
Trader333
Moderator
- Messages
- 8,753
- Likes
- 1,026
www.quotetracker.com with the IQ datafeed (link on the Quotetracker site). Price wise is unbeatable in my view.
Paul
Paul
The Beyonder
Active member
- Messages
- 123
- Likes
- 5
Hi Dod
You can still use IB as a feed but have a separate feed for the backfill, eg. Money.net or Prophet.net.
I think they're only about $20pm, but go via the link on the QT page rather than directly
You can still use IB as a feed but have a separate feed for the backfill, eg. Money.net or Prophet.net.
I think they're only about $20pm, but go via the link on the QT page rather than directly
