Sticky I'm New To TRADING - Where Do I Start?

[focusonmoney]

Can someone please respond to my above question?

Futures are better to me, but you have to have a decent size account.. Forex is good because you can start with $10 dollars.. My advice to you is to learn how the market works.. It takes time but it's very rewarding.. Take a look at this guy videos below.. He explains some good stuff. Another than that, you have to just keep studying the charts.. Learn about support and resistance..

 

[Signalcalc]

Futures are better to me, but you have to have a decent size account.. Forex is good because you can start with $10 dollars.. My advice to you is to learn how the market works.. It takes time but it's very rewarding.. Take a look at this guy videos below.. He explains some good stuff. Another than that, you have to just keep studying the charts.. Learn about support and resistance..

That'll be good weekend watching, just don't tell the wife.

 

[pennye]

Can anyone recommend a good broker for an New Zealand traders. FXCM just kicked me out of my Australian account and Halifax NZ, their White Label partner, got off to a bad start by running my stop on my third trade with them.

So if anyone has any suggestions that would be mighty helpful.

 

[Andrei100]

Hi. Also looking for a broker only from Russia there who can help?

 

[Alexander1]

Read this whole forum, maybe someone else will advise something to read

 

[Dagerban]

The best strategy is the one you make for yourself. Believe me, it'll be very profitable for you =)

 

[tipper73]

Read Good Books on Trading

How Do I find a strategy?

Read a good book such as Reminiscences of a Stock Operator or James Smith's book Zero to £1 Million My Stock Market Lessons and Techniques. Both are excellent books on trading. You can buy both for under £25 on amazon.

When you start trading, start with small bets; have fun, and remember, newspaper articles on the market are written by journalist not traders so don't pay much attention to them. When newspaper sentiment is bullish its usually time to switch direction.

 

[Fugazsy]

it does not matter how much you learn in terms of technicality or other, if you do not stick to your system or plan you will lose not only as a trader.

Sticking to your plan will give you an opportunity to go deep and understand the different facets of yourself, it will not be easy, strong emotions will come to surface but sticking to your plan and the consequences of it is the only indicator a trader is given.

How you deal with emotions is a personal matter, surely emotions cannot be controlled but they can be monitored and given space by accepting them, once accepted they still be there but they will cease to control you.

So if you start now, choose any system follow it rigidly and once you know you are able to stick to a plan (know yourself) then you can expand in any technicality or other.

 

[gerryg]

The best strategy is the one you make for yourself. Believe me, it'll be very profitable for you =)

Unfortunately its far from a fact. Majority of traders are on the losing side so you have to always prepare yourself to lose all what you have invested
The problem on the philosophical side that you risk concrete money for just opportunity to earn. And even there you are in the losing position

 

[dbphoenix]

Unfortunately its far from a fact. Majority of traders are on the losing side so you have to always prepare yourself to lose all what you have invested
The problem on the philosophical side that you risk concrete money for just opportunity to earn. And even there you are in the losing position

The majority of traders are on the losing side because (a) they have no thoroughly-tested plan or (b) they have one but don't follow it. Philosophy is not the central issue.

 

[neil]

New to trading

Forget it. Many vendors (some here)will happily take your money because it is easier to take a fools money for some "winning system" than it is for them to risk their own money trading. Get a job and save a few pennies a week. Shortly, you will have more saved than the usual lemming loses chasing dreams of trading riches.

 

[Peterdales]

I am new and looking for choosing a platform. One of my friend refereed me FPMarkets as one of the best platform in the market, with the lowest rates and effective strategies shared by the brokerage.

 

[CaiGengYang]

OK Time to get serious

Ok guys ... where do I start with my trading career ? What book to read ?

SHORT ANSWER

If you’ve just joined T2W – welcome!
First things first, if you haven’t done so already, check out this Sticky: [FAQ] I’m New to T2W – Where do I Start? That’s the starting point for ALL new members, regardless of your trading experience. It contains a list of 12 mini-FAQs which cover the basics about T2W - who’s who and what’s what etc. Once you’ve read it, you’ll have a good understanding of what a fantastic resource the site is, how to get the most from it and, hopefully, how best to contribute to it.

New to trading?
Okay, if you’re not only new to T2W, but also new to trading, then this is the FAQ for you. (If you happen to be a multi-millionaire fund manager, please read it anyway and tell us how we can improve it!) Trading is a very large subject and T2W is a very large website. You’re welcome to just follow your nose and see where it leads, or you may prefer to take a more structured route to accelerate your learning curve. If so, we have . . .

A simple 4 step plan
The Long Answer below provides a simple 4 step plan designed to give you a good insight into the world of the self taught and self funded trader working from home (known as a ‘retail’ trader). For new traders who don’t know where to start, this is the perfect introduction to the subject. Completing steps 1 to 3 will take around ten to twenty hours. At that point you will have enough information to be able to make an informed decision as to whether or not trading is for you.

100% guarantee
Yup, the 4 step plan comes with a rock solid guarantee. Once you’ve completed steps 1-3, one of two things will happen. Either you’ll be bored to tears by the whole subject or you’ll be unable to sleep at night because you’re just soooooo excited! If your rubbish bin is rapidly filling up with spent packets of Mogadon, then you’ll probably be ready to move on to step 4.

 

[Katie Choi]

SHORT ANSWER

If you’ve just joined T2W – welcome!
First things first, if you haven’t done so already, check out this Sticky: [FAQ] I’m New to T2W – Where do I Start? That’s the starting point for ALL new members, regardless of your trading experience. It contains a list of 12 mini-FAQs which cover the basics about T2W - who’s who and what’s what etc. Once you’ve read it, you’ll have a good understanding of what a fantastic resource the site is, how to get the most from it and, hopefully, how best to contribute to it.

New to trading?
Okay, if you’re not only new to T2W, but also new to trading, then this is the FAQ for you. (If you happen to be a multi-millionaire fund manager, please read it anyway and tell us how we can improve it!) Trading is a very large subject and T2W is a very large website. You’re welcome to just follow your nose and see where it leads, or you may prefer to take a more structured route to accelerate your learning curve. If so, we have . . .

A simple 4 step plan
The Long Answer below provides a simple 4 step plan designed to give you a good insight into the world of the self taught and self funded trader working from home (known as a ‘retail’ trader). For new traders who don’t know where to start, this is the perfect introduction to the subject. Completing steps 1 to 3 will take around ten to twenty hours. At that point you will have enough information to be able to make an informed decision as to whether or not trading is for you.

100% guarantee
Yup, the 4 step plan comes with a rock solid guarantee. Once you’ve completed steps 1-3, one of two things will happen. Either you’ll be bored to tears by the whole subject or you’ll be unable to sleep at night because you’re just soooooo excited! If your rubbish bin is rapidly filling up with spent packets of Mogadon, then you’ll probably be ready to move on to step 4.

Hello

 

[Tourist]

Hi All,
I would like some advice on the following questions please:

What security and instrument would you recommend for a beginner?
How much money is required to start trading or investing as a beginner?
As a retail trader or investor are the gains enough to leave employment and concentrate on been a retail investing/trading as a career?

Thanks

 

[vimal1]

Your asking in my opinion and impossible question to answer. There are way too many variables and no one can give you an answer to this but simply point you in the right direction and give you some food for thought based on your lifestyle and circumstances:

> Security depends on what you are comfortable trading. Naturally I would advise against options so stick to stocks, indices or FX as they are simpler. Also shy away from commodities as they are impacted too much by seasonal factors and apart from the core metals and oil, can be thin to trade
> Money wise....well its more about ensuring you have the right risk and money management in place. Having £1k as a pot is very small and not adequate if you are trading 0.5 lots per trade in FX. However, it may suffice if you are trading 0.01 lots. Too difficult to answer this
> Gains enough to leave work? Again, if your initial pot is south of £50k, then you need to make conservatively (but again depends on your lifestyle and circumstances), 50% gain per annum whereas if you have a pot of £200k, then 15-20% per annum would be enough to get by on ...on a basic level of living

Your question is too broad and unanswerable easily but hopefully I have given you some brief direction. Sorry!

 

[eremev]

Good afternoon.
I'm a beginner commodity trader. Tell me please, where can I find information for analysis of tools? I want to trade sugar, cocoa, coffee, cotton.

Thanks

 

[aag100]

Good afternoon.
I'm a beginner commodity trader. Tell me please, where can I find information for analysis of tools? I want to trade sugar, cocoa, coffee, cotton.

Thanks

Don't know about those but if you wanted to trade orange juice and pork bellies then I would have suggested watching Trading Places

 

[eremev]

Don't know about those but if you wanted to trade orange juice and pork bellies then I would have suggested watching Trading Places

What Trading Places can you advise?

 

[aag100]

What Trading Places can you advise?

Sorry that was my idea of a joke.
Open up a live chart of one commodity and watch that not for just hours or days or weeks but for months and even years and then think if you have learned anything from your observations to be able to place a trade.