Feeling defeated before even starting!

[counter_violent]

Not my intention Tim - I am a very experienced chartist and my only concern was for someone who has the intention of trading live to be aware that swing trading is a hit and miss starting point. Definitely not a vendor!
Templates are good only if you, the trader, can understand the indicators and generally the fewer the better.
Yes, it is how you trade, but there needs to be understanding of what you are seeing as well as a specific method - I was always a scalper in the direction of the trend.
My eyes will differ from your eyes when it comes to a template - but I can post my chart indicators if there is any interest.
TEAMTRADER

Have you ever had an involvement with Richard Branson?

 

[TEAMTRADER]

Have you ever had an involvement with Richard Branson?

Strange question - not me but one of my colleagues did many years ago.
TEAMTRADER

 

[timsk]

Hi TEAMTRADER,

Not my intention Tim - I am a very experienced chartist and my only concern was for someone who has the intention of trading live to be aware that swing trading is a hit and miss starting point. Definitely not a vendor!.

Fair enough. That said, with the experience and knowledge that you claim to have - combined with an offer to provide a novice with info' privately via PM - you'll understand why some subscribers to the thread may have a raised eyebrow (or two).

Templates are good only if you, the trader, can understand the indicators and generally the fewer the better..

My point exactly. So I hope you'll be explaining what you use and why!

Yes, it is how you trade, but there needs to be understanding of what you are seeing as well as a specific method - I was always a scalper in the direction of the trend.

Agreed - and I'm sure an outline of your approach - given your experience and implied success - would be of interest to everyone.

My eyes will differ from your eyes when it comes to a template - but I can post my chart indicators if there is any interest.

There's interest - that's what T2W is for - go for it!
Tim.

 

[Cornishpatriot]

I'm ok for now teamtrader but thanks for the help. (Don't want to drown myself before I can swim.) Enjoy that PASTY! oggy oggy oggy.


I am in the midst of creating a business plan and have learned a tremendous amount today alone. It's starting to become an addiction though as I am starting to dream about the stock market in my sleep!

 

[counter_violent]

Strange question - not me but one of my colleagues did many years ago.
TEAMTRADER

Blimy, what are the odds of that?

I'm with Tim on this. Your template and trading methodology might be a good topic for a dedicated thread.

 

[Fugazsy]

Patterns repeats all the time, and the trader needs to learn how to create an edge based on those constant repetitions.

In Forex I would not suggest trading a TF less than 30-60m.

Try to specialize in all market conditions: trend, range and trend reversals.

 

[TEAMTRADER]

Blimy, what are the odds of that?

I'm with Tim on this. Your template and trading methodology might be a good topic for a dedicated thread.

Tried and failed to get a new thread going - over 90 minutes of wasted time. Perhaps it has a time guard on the typing and downloading?
It refers me to administrator all the time.
Your submission could not be processed because a security token was invalid.

If this occurred unexpectedly, please inform the administrator and describe the action you performed before you received this error.


TEAMTRADER

 

[Trader333]

Are you with TallTalk as they are preventing all sorts of web activities since their customers are being constantly attacked by scammers ? They will block any site where security certificates are not up to date and this can affect something like starting a new thread here. You could try (as a test) using a different browser and just set up the thread title and if that works then add content later. That way you wont waste your time as that should only take minutes.

 

[TEAMTRADER]

Are you with TallTalk as they are preventing all sorts of web activities since their customers are being constantly attacked by scammers ? They will block any site where security certificates are not up to date and this can affect something like starting a new thread here. You could try (as a test) using a different browser and just set up the thread title and if that works then add content later. That way you wont waste your time as that should only take minutes.

Yes, I will try again but it takes me a long time to download etc arthritis is kicking in! Got lucky as I had saved the text so just needed to download - hopefully will be successful in 2 minutes as a new thread.
Is that Paul (333)?
TEAMTRADER

 

[Cornishpatriot]

thanks for all the help so far guys.

I now have a new question.

What is a typical trading day like?

This is what I am trying to do:

1) Wake up watch the latest news, see what events happened over night.
2) Check how the Asian markets fared in the current day before looking at how the DOW/S&P fared.
3) Look at the sectors to see which is performing the best over the current week/month
4) Analysis the FTSE sector I plan to look for the stocks, e.g FTSE350/AIM
5) Focus on the stocks in those sectors looking for technical signals, MACD, RSI, etc.

Any other things that I should be doing to become a great trader?

 

[foroom lluzers]

Trading is easy , but psychology is 80% of success .Read articles by top psychologists and listen to their webinars.Technicals is only 10 % of trading , this only real traders will be able to confirm.

 

[piphoe]

Trading is easy , but psychology is 80% of success .Read articles by top psychologists and listen to their webinars.Technicals is only 10 % of trading , this only real traders will be able to confirm.

thats only 90% whats other 10%? Luck?

 

[foroom lluzers]

thats only 90% whats other 10%? Luck?

Body condition tired , hungry , sleep , awake etc

 

[TEAMTRADER]

thanks for all the help so far guys.

I now have a new question.

What is a typical trading day like?

This is what I am trying to do:

1) Wake up watch the latest news, see what events happened over night.
2) Check how the Asian markets fared in the current day before looking at how the DOW/S&P fared.
3) Look at the sectors to see which is performing the best over the current week/month
4) Analysis the FTSE sector I plan to look for the stocks, e.g FTSE350/AIM
5) Focus on the stocks in those sectors looking for technical signals, MACD, RSI, etc.

Any other things that I should be doing to become a great trader?

CornishPatriot,
Hope this helps -
Add to your first task - "and see what events are current today".
I have twice tried to download free software for Fx News Alert for you on this subject and failed because it is too large. It is software provided to me by a pro trader that he uses to check on announcements.
PM me if you want it sent via email. You can also get the information via forexfactory.com/calendar and this too is free and important.
Add to your 5th task - technical signals should always include stochastics.
Final suggestion is to study 'weekend and overnight gaps' as stocks often suffer from Market Makers manipulations.
Was in Penzance last week - fabulous!
TEAMTRADER

 

[foroom lluzers]

The subject is far more detailed and beyond the knowledge of most posters , the superior knowledge is obtained by listening to many webinars and reading articles /books by top trading psychologists and other non trading psychologists .These psychologists are Rande Howell , Dr Br Steenbarger , Dr Van tharp , Mark Douglas , Dr Andrew Menaker and a few others .The knowledge of the subject of psychology of these psychologists is way superior to the discussions by non psychologists on forums.These PSYCHOLOGISTS give a far superior understanding of the differences between professionals and amateurs .

The main differences are
1) Trading mindsets 80 % is pychology and 20 % the method .Professionals understand trading psychology
2)Professional's Methods incorporate psychology
3)Professional's Methods have an edge

Professionals trade because they have a trade , amateurs trade because they have to trade , when there is no trade.Professionals are very patient.

 

[tomorton]

Agreeing with foroom lluzers. Traders who lose their accounts are beaten by themselves, not the market. And as some of the writings mentioned demonstrate, some losing traders unconsciously sabotaged their own efforts.

 

[hewhodareswins]

I've been trading for over 20 years and the one piece of advice I can give to a new trader is - don't be afraid of the markets. That does not mean go crazy and fill your boots before I am attacked by everyone on here, but after all these years of trading, I realized that all my systems in the past would have worked tremendously if only I had the balls to stick with them and put my money where my mouth is. So no, that is exactly what I do, I am not afraid of the markets - I trade equities all day long, generally FTSE100 ones. The stock market has been around for over a hundred years and isn't gonna disappear down the plug hole the minute I place my trade and once I learned to take my own advice I started earning some great money. I always keep one great saying in my mind (so much so that I registered the domain name!) - HE WHO DARES...WINS

 

[Pat494]

HE WHO DARES...WINS

That's Dell boy's signature phrase isn't it ? oh and the SAS.

 

[hewhodareswins]

That's Dell boy's signature phrase isn't it ? oh and the SAS.

It sure is! I'm an OFAH freak!