Newbie - Ftse & Dow – Day Trading

[OlympicBlue]

Hello

I have been ‘paper trading’ the index’s above using live feed charts and charting tools provided by ADVFN’s site - with all small degree of success (shhh! don’t want to tempt fate) .

Naturally, I now want to translate this into actual trading and I am looking at Spread Betting in order to capitalise on the movement that I identify and back accordingly.

I will probably end up using IG Index for the spread betting, trading platform etc. as they have a very useful introductory ‘trade-sense’ programme that will allow me to start very small should I wish to do this (from 10p point) .

If anyone uses Spread Betting to ‘trade’ the FTSE and DOW, I would very much welcome any advice and input that you may be able to give about your methods, experiences, or the spread betting firms that you use.

Many Thanks.

 

[fakhar]

Hello

I have been ‘paper trading’ the index’s above using live feed charts and charting tools provided by ADVFN’s site - with all small degree of success (shhh! don’t want to tempt fate) .

Naturally, I now want to translate this into actual trading and I am looking at Spread Betting in order to capitalise on the movement that I identify and back accordingly.

I will probably end up using IG Index for the spread betting, trading platform etc. as they have a very useful introductory ‘trade-sense’ programme that will allow me to start very small should I wish to do this (from 10p point) .

If anyone uses Spread Betting to ‘trade’ the FTSE and DOW, I would very much welcome any advice and input that you may be able to give about your methods, experiences, or the spread betting firms that you use.

Many Thanks.

Nobody gives you his method.you have to search yourself.i dont do spread but do trading in Dow and NQ.

 

[timsk]

Nobody gives you his method.you have to search yourself.

OlympicBlue,
The first part of fakhar's comment (quoted) is completely wrong. Lots of members explain in precise detail their trading strategies. Check out this thread re. the FTSE:
http://www.trade2win.com/boards/uk-indices/28003-swingin-ftse-2008-a.html
There is a bias towards Marc Rivalland's swing trading approach. Barjon explains how he trades the index in his Knowledge Lab article. (Click on 'Articles' 3rd in from the left at the top of the page and search 'barjon')
This thread relates to the ES, but it ought to work on the DOW just as well:
http://www.trade2win.com/boards/day-trading-scalping/40616-here-way-i-daytrade-emini-ym.html
There are loads of other strategies documented in detail which could be applied to the indices of your choice. The second part of Fakhar's comment is less black and white in that while there are many members who have explained their approach in great detail, it doesn't necessarily follow that you (or anyone else) can start trading their system and make money with it from the get go. That's a very different matter altogether and one that frustrates many - or even most - traders. Finding, reading and understanding another trader's profitable system is easy; using it oneself to make consistent profits is often anything but.
Tim.

 

[OlympicBlue]

OlympicBlue,
The first part of fakhar's comment (quoted) is completely wrong. Lots of members explain in precise detail their trading strategies. Check out this thread re. the FTSE:
http://www.trade2win.com/boards/uk-indices/28003-swingin-ftse-2008-a.html
There is a bias towards Marc Rivalland's swing trading approach. Barjon explains how he trades the index in his Knowledge Lab article. (Click on 'Articles' 3rd in from the left at the top of the page and search 'barjon')
This thread relates to the ES, but it ought to work on the DOW just as well:
http://www.trade2win.com/boards/day-trading-scalping/40616-here-way-i-daytrade-emini-ym.html
There are loads of other strategies documented in detail which could be applied to the indices of your choice. The second part of Fakhar's comment is less black and white in that while there are many members who have explained their approach in great detail, it doesn't necessarily follow that you (or anyone else) can start trading their system and make money with it from the get go. That's a very different matter altogether and one that frustrates many - or even most - traders. Finding, reading and understanding another trader's profitable system is easy; using it oneself to make consistent profits is often anything but.
Tim.

Tim,

Thanks so much for the guidance.

Since my original post, I have looked at various threads on this site - so I fully understand and appreciate your comments.

I will look forward to reading the threads you have provided with interest.

Letting me have a direct link is great and helps a lot as there is so much information on this site.

Much appreciated!
.

 

[new_trader]

I think what fakhar means is that any method which is given away freely and easily is a method not worth having in the first place.

I completely and utterly agree.

 

[OlympicBlue]

I think what fakhar means is that any method which is given away freely and easily is a method not worth having in the first place.

Whilst it does no harm to be vigilant, surely you cannot make a judgement that just because something maybe given freely - it will be of no use?

 

[fakhar]

I think what fakhar means is that any method which is given away freely and easily is a method not worth having in the first place.

I completely and utterly agree.

Thank you my friend for explaining my views. Thats what i wanted to say.

 

[joeking323]

Even free stuff can have its uses.

I depends on what you can take from it.

sometimes all it takes is a shift in the angle your looking at the problem from - another perspective.

 

[Lord Flasheart]

I cant beleive some of the posts in this thread.Most of what is good is freely available and often on this site.I know very few traders who have paid for the holy grail and received it.I strongly recommend not using mentors unless they have a provable record.
i.e accounts or live trading.This site and many papers are filled systems and mentors who exploit new traders. OLYMPIC do not part with cash unless you are absolutely sure.There are many free trading sessions available.

 

[OlympicBlue]

I cant beleive some of the posts in this thread.Most of what is good is freely available and often on this site.I know very few traders who have paid for the holy grail and received it.I strongly recommend not using mentors unless they have a provable record.
i.e accounts or live trading.This site and many papers are filled systems and mentors who exploit new traders. OLYMPIC do not part with cash unless you are absolutely sure.There are many free trading sessions available.

Julian,

Thanks for pointing this out.

I will be trialling some SB demo accounts shortly and won’t be parting with any money to do this.

Similarly, I intend to trial an independent and designated platform to run along side, but unlike the SB account, after a month this would be chargeable. But hopefully by that time I'll no whether it has been an advantage to me or not. I know some people on this site swear by them.

As for paying out any other monies I assume your referring to advice, from a broker or other advisory service?