Hello

[rosewood fox]

Hello all,just to introduce myself.My name is Mike i reside in Luton Bedfordshire.I,m two years into Trading, thats courses and reasearch, plus trading and i,m still not that good.I,m looking for intrday traders who live around my area whom i can swop ideas with and generaly chit chat about the markets.I only trade the FSTE100,and Gold ,bit safer i think than the American Markets.
Regards Mike..

 

[rosewood fox]

Hi Rachael,Chat away anytime.Do you Trade?

 

[timsk]

I only trade the FSTE100,and Gold ,bit safer i think than the American Markets.

Hi Mike,
I don't live anywhere near you I'm afraid, although I am a good deal closer to you than Rachael appears to be! I'm interested to know why you think the U.K. market is safer than the U.S.? I take the opposite view and day trade U.S. stocks for the following reasons:
1. Greater variety and selection of instruments to trade.
2. Generally better spreads.
3. No stamp duty.
4. Greater liquidity for fast, easy fills at the price you want.
5. Greater volatility which gives a trader a bigger target to aim at.
The list above gives the U.S. the edge over the U.K. IMO and, in this respect, makes it 'safer' to trade than the U.K. market (stocks).
Tim.

 

[rosewood fox]

Hi Tim,well the reasons you give for trading the US Market are all valid for you,for me the markets are too liquid, huge volumes ,large movements all a bit to much for me at the moment.i just think for me it,s feeels safer here where the movements are not quite so large,having said that i,m always willing to listen and learn.I,m onlt about 7 months into trading and i spent some time taking a course and paper trading i,ll be honest i,m still rubbish i look for reasons not to trade which is o.k. but i think i take it to extrems and dont trade when i should.What i really need is a day with a really good trader does,nt have to be a pro just a damm good trader.Thats one of the reasons i,m on here just to see if there are any Traders here in Luton for chats and look at stocks etc.
Tim thanks for the time you took to reply i appreciate the effort
Regards Mike.

 

[rosewood fox]

Tim,who do you use to trade and how do you trade ie CFD,s Sread betting Futures etc??

 

[timsk]

Hi Mike,
I sort of see where you're coming from in so far as volatility is a double edged sword. If you don't treat it with huge respect - and I mean HUGE - it'll tear you to shreds and wipe out your account in next to no time. Even so, there are lots of slow, steady moving U.S. stocks that offer lots of opportunity. I wouldn't dream of trading the likes of AAPL, GOOG or RIMM until I've got loads more experience and a much larger account. Anyway, to answer your question, I have a direct access account with Interactive Brokers and use eSignal for charting. For historic reasons, I also have ShareScope Plus, but I don't really use it much now and can't really justify the expense of it - so it may have to go. But I like the software a lot and the support is way better than anyone else I've dealt with. Nice company with very helpful staff and ideal for someone in your shoes who wants to trade the U.K. market, although I can't vouch for their intra day data as I've never used it.
Cheers,
Tim.

 

[rosewood fox]

Thanks for your insight Tim,stay in touch.
Regards Mike..

 

[Avais Chaudhri]

Hi Tim and Rosewood, I'm in Luton too! I've recently started Day Trading on the FTSE 100, (not much success yet!), would love to get in touch and discuss trading experiences...
My skype is avais0007,

Ciao...