Hello guys, i am new here and to trading :)

[savisaar2]

Hey fellow traders. I am new to trading online i have been looking at a few brokers to who i will pick to use.
One broker at xtrade.com has suggested that i invest in Indices but additionally they suggest to invest more money into my account. I only have like $250 USD since i require that investment for training, they told me there is no risk to investing 1-5000+ on German30. I am a little confused...to me if i invest so much without an idea, only by their suggestion i could lose the entire lot?
Any advice will be greatly appreciated .
Thanks
Alex

 

[timsk]

Hey fellow traders. I am new to trading online i have been looking at a few brokers to who i will pick to use.
One broker at xtrade.com has suggested that i invest in Indices but additionally they suggest to invest more money into my account. I only have like $250 USD since i require that investment for training, they told me there is no risk to investing 1-5000+ on German30. I am a little confused...to me if i invest so much without an idea, only by their suggestion i could lose the entire lot?
Any advice will be greatly appreciated .
Thanks
Alex

Hi Alex,
Welcome to T2W.

If a broker - or anyone for that matter - tells you there's no risk to trading (especially the Dax), then there's only one thing for you to do: walk away. Correction: run as fast as you can. Your prospective 'broker' is almost certainly a scam. Your gut instinct is 100% correct, you could - and probably will - lose the lot. Under no circumstances give these people a single cent of your money.
Tim.

 

[savisaar2]

Thanks for you reply.

Hi Alex,
Welcome to T2W.

If a broker - or anyone for that matter - tells you there's no risk to trading (especially the Dax), then there's only one thing for you to do: walk away. Correction: run as fast as you can. Your prospective 'broker' is almost certainly a scam. Your gut instinct is 100% correct, you could - and probably will - lose the lot. Under no circumstances give these people a single cent of your money.
Tim.

Okay thanks for letting me know. As a new trader what would you suggest would be the better market to start into? I am still learning how to know where to enter and get out. It's a little hard to decide when to do it haha.
Thanks
Alex

 

[tomorton]

When you identify a suitable market (and I'm not the one to name that for you), paper trade it until you know you will make money. Don't put money in to find out IF you can make a profit: put money in when you know you WILL.

 

[savisaar2]

When you identify a suitable market (and I'm not the one to name that for you), paper trade it until you know you will make money. Don't put money in to find out IF you can make a profit: put money in when you know you WILL.

Yeah i have been doing a couple demo's here and there. Currently like the platform of 2 that i found. One has no demo but looks good, the other i am trialing out.

What is a better way of trading for a new person? Day trading or swing trading? I guess if you do swing you can have a better idea of the way the market is going, eg less volatile?

 

[timsk]

Okay thanks for letting me know. As a new trader what would you suggest would be the better market to start into? I am still learning how to know where to enter and get out. It's a little hard to decide when to do it haha.
Thanks
Alex

Hi Alex,
The market isn't the issue here - it's who you place your money with. If you hand it over to criminals, you're not going to see it again, regardless of your choice of market or strategy employed to trade it.

Check out the links in the welcome e-mail you received when you joined and follow Tom's sage advice. Test your ideas on a demo account and only switch to using real money when you've proved to yourself that your methodology works consistently well over time and under a variety of market conditions, e.g. trending and range bound.
Tim.

 

[Anon1]

Hey fellow traders. I am new to trading online i have been looking at a few brokers to who i will pick to use.
One broker at xtrade.com has suggested that i invest in Indices but additionally they suggest to invest more money into my account. I only have like $250 USD since i require that investment for training, they told me there is no risk to investing 1-5000+ on German30. I am a little confused...to me if i invest so much without an idea, only by their suggestion i could lose the entire lot?
Any advice will be greatly appreciated .
Thanks
Alex

Hi Savisaar,

I think Timsk has pretty much covered 'starting out' important points here and his words of great advice should be taken into account and adhered to.

To add if I may: Choose a reputable broker but before you consider even doing so. Get more in to the knowledge of the trading industry - you would be wise to spend much time over many weeks or months and in the process will mean finding a trader after this time, a lot easier than when you are starting out. choosing a market and trading style will also be easier.
Imagine if you will, wanting to build a car so you go out to source an engine before you even have any idea on a blueprint for the vehicle. A crap analogy but an analogy nonetheless.

Have fun and welcome to the mad, bad and crazy world of trading.

All the best,
Anon

 

[tomorton]

Yeah i have been doing a couple demo's here and there. Currently like the platform of 2 that i found. One has no demo but looks good, the other i am trialing out.

What is a better way of trading for a new person? Day trading or swing trading? I guess if you do swing you can have a better idea of the way the market is going, eg less volatile?

Swing trading takes less fast reactions, more obvious TA signals, longer time available to recognise a trade setting up. Daytrading demands the most skill of all trading styles, but its seductive as it seems like you can just jump in and buy / sell - don't do this.

 

[savisaar2]

Trying to Decide...

I am in a tough area of decision. I was thinking of trying out trading with forex, but when i had a look at one broker its like a minimum investment of 10000USD? I mean i dont have a huge some of money i am only looking to invest perhaps 2000 USD and see how i go.

So i had a look around and i found out about Binary Options. But with further research i found out its just a major way of losing money.

I am currently learning how to use BB with my MT5 charting software, does anyone have a good broker they are with? Also what would be the smallest investment you need to be able to start in trading forex? I believe forex might be a better start for me?

Forex/indices/stocks i dont know which one will be easier to learn while starting int the market. Sure trading is a skill that you must learn i understand that point, but i would rather understand what i am doing before i place a trade. And there are many brokers who come with a account manager who teaches you but i dont just want to follow some random guy telling me what to do.

What do you suggest. Any resources, brokers etc will be great knowledge for me.

 

[timsk]

Hi Alex,
I've merged your second thread with this one as it's essentially a continuation of the same theme. Just one thread per topic please.

I am in a tough area of decision. I was thinking of trying out trading with forex, but when i had a look at one broker its like a minimum investment of 10000USD? I mean i dont have a huge some of money i am only looking to invest perhaps 2000 USD and see how i go.

There are lots of brokers around that you can open an account with £2k. Check out the ones listed in our reviews section: brokers. When choosing one, think carefully about the points raised in this post.

So i had a look around and i found out about Binary Options. But with further research i found out its just a major way of losing money.

Probably a wise move. The basic proposition with binary options is that for every £10.00 you give them, they'll give you around £7.00 in return.

I am currently learning how to use BB with my MT5 charting software, does anyone have a good broker they are with? Also what would be the smallest investment you need to be able to start in trading forex? I believe forex might be a better start for me?

See my first answer.

Forex/indices/stocks i dont know which one will be easier to learn while starting int the market. Sure trading is a skill that you must learn i understand that point, but i would rather understand what i am doing before i place a trade. And there are many brokers who come with a account manager who teaches you but i dont just want to follow some random guy telling me what to do.

It's vital you understand what you're doing before you trade with real money. If you don't, you'll lose it all. IMO, you're right to want to learn to trade for yourself rather than putting your faith in someone else. So, take your time, don't be too impatient to trade and have fun with a demo account. If you're struggling to decide which market to choose, check out this FAQ: Which Should I trade - Stocks, Futures or Forex etc.?

Lastly, did you read the welcome e-mail and click on the links?
Tim.

 

[ammybenj]

Hi Alex,
Welcome to T2W.

If a broker - or anyone for that matter - tells you there's no risk to trading (especially the Dax), then there's only one thing for you to do: walk away. Correction: run as fast as you can. Your prospective 'broker' is almost certainly a scam. Your gut instinct is 100% correct, you could - and probably will - lose the lot. Under no circumstances give these people a single cent of your money.
Tim.

You can check my posts, I was searching for the basic info to start with. I am really very impressed to see your clear and to the point Answer of Alex's question. Thanks to both of you.
I am looking for more info on different topics. Soon I'll come with one more right question.

Thanks

 

[SurtiTrader]

Hello, glad to meet you. I wish you all the best for your future. Choose wisely and gain proper knowledge about Forex before starting to trade.