my first day of trading

[pboyles]

I must say you have done something quite incredible, you've managed to get everyone on T2W to agree on something.

 

[newtrader28]

which is what?

 

[Mr. Charts]

"Everyone" on t2w agreeing to something is as likely as Christmas Day being moved by a UKIP government next week.
But, nt28, some of the people who have posted are experienced traders who have offered their advice for your benefit. By posting here you have invited opinions and possibly advice, but you certainly don't have to do what anyone says or accept any advice. However it is well meaning and because your perception is one of unmitigated negativity you shouldn't get too riled. A good trader controls his/her emotions or at least doesn't let them interfere with decision making - and that is one of the hardest parts of trading. As a poster on this board the same emotional toughness is needed
Perhaps consider that your period of live trading is too short and the number of trades statistically insignificant to be able to draw any conclusions.
Maybe think about what positive advice has been proffered and weigh it carefully. Some of it has come from very experienced traders and it's always useful to try and learn from other people's trials and errors as well as your own.
I won't say good luck because that only has a slight effect on trading, but learn fast, think hard and prosper and I wish you well.
Richard

 

[Vasco da Banana]

i have no idea what you are on about, i signed up early this morning, and posted the trades i have completed. i only started trading yesterday, hence the name new trader and 28 because its my age.

if im such a car crash how much have you made today? how much did you use to make it? how many trades? and how long have you been trading?

Seeing as you ask, about 15 years. Today I've been otherwise engaged, but with half an hour to kill before the US close I made two SB trades, resulting in a stonking get-rich-slow profit of £2.60. By your standards that's obviously pathetic, but while these trades didn't quite 'work', they were reasoned, rational and involved only a minimal risk, not a potential blown account, so ending up more or less at breakeven is a perfectly good result. Tomorrow is another day, if you engage your brain.

 

[newtrader28]

Richard,

Thanks for your reply, i would like to say to everyone, that i do not think ive been negative against anything anyone has said or the against advice people have offered,

I havent been indifferent to what people have said, im going to incorporate those strategies and ideas when i have reached a specific financial goal (if i even make it there).

Like i said i truly have no trading experience, well only on eve online, http://www.eve-markets.net/
there are actaully ALOT of items, and i did become a multi billionaire from it but anyway i have no experience, i am a newbie.

i haven't once said i am some super trader who is going to make a shedload and this way blah blah all i have done is said about the few trades i have completed.

cheers
Jamie

 

[Liquid validity]

lulz

 

[barjon]

i'm not relying on luck at all, i think alot and look at the market before i buy.ie whats happened today,yesterday,last few weeks etc.

yes i may invest high although this means that the market only has to move up a few pips and i can make a decent profit, i am not greedy,i watch the price and if it goes into green and i can net a few hundred or more i will take it and find the next thing to trade and repeat the same process.

imo it could be perceived as less risky cuz im involved in less trades to make my profit, or more risky because of the investment amount, all depends on which side of the coin you prefer to look at things from.

and pboyles a positive outlook can work wonders lmao

I wasn't talking about your luck in terms of your analysis or the making of a couple of hundred here and there.

Your luck has been that when some of those trades went thousands against you that they just didn't keep on going until you were wiped out. You can have all the confidence in the world that it will come back but one day it won't until it's too late.

The trouble with this strategy is that it works time and time again until that one time - and you only need the one - when it doesn't. For the moment you are only postponing the evil day and even if you are the best analyst on the planet you are going to get it wrong one day don't you think?

 

[newtrader28]

Barjon, I agree with you completly,you seem to know exactly how i am operating, but i am nearly there in achieving my goal. 48-72 hours and i could be there based over the last two days trading.

i never "invest" more than 9k euro on any of my deals and often "invest" less like 3-4k.
if i place a deal, i have generally not taken on a second one, i try to trade one item at a time.

so, tonights stats until now as i have no open positions except 1 v small one for an experiment.

this afternoon i gave my profits as iirc 1300 euro.

tonights description. 2 trades

trade 1: 9k invest - duration sta-fin 3h 10 mins.
514.97 euro profit. - invested then realised i shouldnt have,so got out at a profit,the index went down and never recovered.

trade 2: 3,785k invest - duration sta-fin 4hrs. 2,179 euro profit. loved this trade! :clap: went a bit higher but i was happy to cash out on the side of caution.

SO.

yesterdays profit. 1700 euro

Todays profit. 4000 euro.

total profit over 2 days 5700 euros

i have no beer left and i need to get up in under 6hr so until tommorow everyone :cheesy:

cheers

Jamie

 

[newtrader28]

ok so i now have another open position, i will let you know in about 7-8 hours if i have closed this position for a profit,

until then,happy trading.

 

[Vasco da Banana]

ok so i now have another open position, i will let you know in about 7-8 hours if i have closed this position for a profit,

until then,happy trading.

Will you tell us if it makes a loss?

 

[newtrader28]

Will you tell us if it makes a loss?

of course I will.

position still open, let the trading day begin :cheesy:

 

[Hoggums]

** Grabs the popcorn **

I think this has the makings of a classic.

 

[Hate2Lose]

Hi everyone,

so today was my first day trading,i only used the concept buy low and sell a little higher.

i have read about only betting a small % of your equity however i used 90% of mine today in 2 seperate trades.

1st trade: 45 minute duration, 9k investment, 10.1k after trade

2nd trade: 25 minute duration, 6k invest 567 profit. Could have been 1400 profit if i didn't get excited and had waited another 5 mins.

so i made 1667 euros today, is this considered good or am i playing fast and loose with the capital?

at one point i did go to -2970 on trade 1 but i wasn't worried i knew it would go up and after i sold both trades their values increased so i was being careful and not greedy.

could you expect to trade this way successfully?

im looking forward to hearing your opinions as in very new to trading.

Hi mate,

Sounds like you are off to a good start but I’d try not to get too excited or complacent after one day. You will have days where everything you do goes against you and things can get nerve racking i.e do you sit it out or do you cut your losses early. Are you trading physical shares or on leverage? This will also come into the equation.

Everybody has their own rules and style of trading and yours has worked for you so far and I do hope it continues for you, but just have an exit strategy in the back of your mind as things don’t always go to plan.

Good luck

 

[mike.]

Hi Jamie, I think you are going about it the right way, consider it as lesson number one, watch how the market eats you up, when you blow your account in the next two weeks which may I say is on the generous side , come back for lesson number two and read Tims first steps. have you ever heard of demo accounts ? My advice would be check them out.

 

[Pat494]

Sorry I haven't the time to read all thru your thread but do you ever call a trade as you put it on or just tell us how many thousand euros you made after the event ?

 

[Pat494]

ok so i now have another open position, i will let you know in about 7-8 hours if i have closed this position for a profit,

until then,happy trading.

You forgot to mention what the trade was exactly ?
You aren't going to impress anyone with this.

 

[Vasco da Banana]

You forgot to mention what the trade was exactly ?
You aren't going to impress anyone with this.

He probably went long on YM about five years ago.

 

[Pat494]

He probably went long on YM about five years ago.

 

[newtrader28]

@ pat494 why would i call a trade as i put it on? im more concerned with watching the market..

im not trying to impress anyone, just thought id add it on as i said i was finished trading for the day then changed my mind.

so,

1 position closed today
EUR/JPY
4k euros for 800,000.
opened at 131.39
closed at 131.66

profit 1640.22 euro

will update if anything changes

 

[neil]

Ace Trader

@ pat494 why would i call a trade as i put it on? im more concerned with watching the market..

im not trying to impress anyone, just thought id add it on as i said i was finished trading for the day then changed my mind.

so,

1 position closed today
EUR/JPY
4k euros for 800,000.
opened at 131.39
closed at 131.66

profit 1640.22 euro

will update if anything changes

Walter Mitty is now a newtrader28