Best Thread The Basics of Trading

[eagleswings]

I am quite new to trading.

Is there a thread on how to navigate charting packages???

I have found this thread extremely informative but I need even more elementary help on how to naviagate charting packages.

I registered for free on ADVFN so I could use the links in this thread.

My ADVFN chart looks like this:


I cannot find on the ADVFN page how to make the display the same as the one in the link on this thread which is the preferred display:


The preferred display was a link to the stock in post 30.
When I'm logged in it gives the current information on the stock so it is not because that post was 5 years old.

They both are displays of today's results.
Yes, I know mine is a different stock. My point is that the display of the chart is configured differently. How do I configure mine to look the same as the post 30 chart example? Mine lacks information that the preferred has.
The chart I get when I click on basic charts is a different display all together.
I'm perplexed.

Can anyone help?

Thank you.

 

[eagleswings]

Let's Follow AAL for the next year

Since this thread is for beginners like me,
Let's take the first chart of AAL from post 2 and following it for a year.
http://www.trade2win.com/boards/21511-post2.html

For each chart posted:
Draw support and resistance lines
Draw the trend line

Risk Profile
What is your:
Entry price
Target
Stop-loss
Risk/Reward Ratio

Today's chart
View attachment aal candlestick.bmp

 

[eagleswings]

T2W Day Trading & Forex Community

This is the essence of this thread in article format with the charts used at the beginning of the thread.

Happy Trading all!

 

[eagleswings]

I've been following AAL for the last week to get a feel for the psychological factors as well as the Support/Resistance, Risk/Reward ratio and candlesticks.

I suggest that all novices perform this exercise. It was my version of FTSEbeater's article 3.
T2W Day Trading & Forex Community

It's a shame I didn't trade it.
Here are my thoughts on the week's action
View attachment AAL 10253108.bmp

First question:
Where does one draw the trendline to its best most accurate direction?

First analysis 26Oct08

Possible risk profile
target 1800
enter 1182
stop 1095

Reward points 619
Risk 87
R/R 7.1 : 1

support test at 1100
resistance test at 1800
resistance test at 1610 4.9:1 (another possible profile)

support could become resistance as well so

I'm going to wait and see what happens tomorrow to see if the bump up continues.

27Oct08

Change 6.0
Change 0.5%
Current 1188.0
Current bid 1186.0
Offer 1188.0
High 1207.0
Low 1082.0
Open1160.0
Volume 7,467,201

It's moved up in price since Friday.

Had I entered the trade today, I would have been stopped out.
I am waiting

2nd Question:
How do I quantify a stop "just under the support line" that keeps me from being caught in the freeze out?

3rd Question:
What will be the rule for trailing stops?


28Oct08
Change -42.0
Change -3.5%
Current 1158.0
Bid 1157.0
Offer 1158.0
High 1277.0
Low 1138.0
Open 1264.0
Volume 13,162,076

So far so good the low ended at a higher price. Entered at 1188.
Stop at 1095.


29Oct08
Change 195.0
Change 16.6%
Current 1370.0
Bid 1369.0
Offer 1371.0
High 1376.0
Low 1234.0
Open 1244.0
Volume 11,234,064

It's still moving upwards.

I am going to continue with my original target as this is an exercise of mental learning.
I will move the stop up to 1170.

30Oct08

Change 62.0
Change .5%
Current 1442.0
Bid 1442.0
Offer 1444.0
High 1508.0
Low 1402.0
Open 1480.0
Volume 8,882,053

I will still see how it fairs to the 1600 resistance, I would put a stop at 1242. I need to continue my training on candlestick indicators.

31Oct08

Change 107.0
Change 7.4%
Current 1549.0
Bid 1548.0
Offer 1550.0
High 1551.0
Low 1379.0
Open 1425.0
Volume 6,283,855

This would be the place where an exit strategy comes into effect:

5th Question:
What is my exit strategy?


If I was trading this I would exit at this point as I've made my % profit and I've been in the trade for 4 days.
but as this is a learning experience, I will continue to watch it until the reversal to see if it hits the 1800 resistance of my original target.
I would place a stop at 1375.

3Nov08
Move my stop up to 1551.

 

[Hall_Marked]

hi guys!
newbie here from sunny kettering hoping to get in the trading game. I am finding this most interesting... just deciding the right time to take the plunge. I would welcome any advice from you seasoned hands. By the way is it possible to get diary of all companies dates for going ex dividened??
cheers all

tim

 

[UKtradergirl]

hi guys!
newbie here from sunny kettering hoping to get in the trading game. I am finding this most interesting... just deciding the right time to take the plunge. I would welcome any advice from you seasoned hands. By the way is it possible to get diary of all companies dates for going ex dividened??
cheers all

tim

Some ex-dividend dates here for free (click on 'dividend dates'): UK Stock Challenge

I'm not sure how accurate they are as i don't use this in my trading. If you do a search in google there will be links to lots of places where you can pay to receive the data (more accurate and reliable than the above website i imagine).

 

[jeffsmith]

Friends i have joined this forum to help newbie's and solve their problems and share my experience between them. For their comfort i have written some articles you can go through this URL and read them.

Forex Snapshots

 

[Pound foolish]

Advfn

Hi,

I have been having fun with this site since registering this afternoon.
Free stock prices, quotes, stock charts, market news and streaming real-time stock quotes.

I have edited the monitor to show the stocks I am watching. Are the prices live or delayed?

This is much better than the self-trade watchlist I was using.

 

[fraser777]

hi

i am trying to learn some basics and was so happy to find your thread but i cannot open the pictures of the charts
i know its a lot to ask, but would it be very inconvenient to email me this?
thank you
beatrice

 

[barjon]

i am trying to learn some basics and was so happy to find your thread but i cannot open the pictures of the charts
i know its a lot to ask, but would it be very inconvenient to email me this?
thank you
beatrice

hi, this is a very old thread that seems to have got corrupted. There are two articles relating to it that cover the general principles etc T2W Day Trading & Forex Community - heres the first one.

jon

 

[GZ.koizora]

hi ya

currently i am still learning on this thing. But there is one question in my head ... How do u know when the chart will goes down or up ? depends on ?

is it like every tiny candlestick u have to buy and sell ?

i am quite noob here if u guys don't mind to teach me

 

[ragpijin]

hi ya

currently i am still learning on this thing. But there is one question in my head ... How do u know when the chart will goes down or up ? depends on ?

is it like every tiny candlestick u have to buy and sell ?

i am quite noob here if u guys don't mind to teach me

Hi there, i have posted a Video on youtube explaining how to work out market direction each day, hope it helps you out.

Here is the link YouTube - Daily Direction 7th January 2009 (London Session)

 

[ragpijin]

By the way if any of you guys have any questions post them here and ill record a video to answer them, so that its clear and easy to understand for you all!

 

[ragpijin]

Hi guys just thought id update you with a couple of videos that i think explain the concept of good trading a little clearer this example was recorded on friday 9 th January....before the london session and then i reviewd the action at the market close..... hope it helps!

First Video Prior to the london session:

YouTube - Determining market direction each day



and here is the follow up after the market closed:

YouTube - Follow up to the daily Direction on the 9th January Video

 

[Hunter08]

Advice to all newbie's here. There is no rush to trade. The only rush is to learn. .

That's a quote that Nial Fuller says on his price action forex website.

Once stated in one of his Videos, he suggested to all, that the best position is to be out of the market, and to just keep waiting for the perfect setups. Traders make money on under 50% of their trades, and If we wait long enough, very high risk reward trades do set up perfectly.

Just my 2 cents.
hunter

 

[forexsys1]

That's a quote that Nial Fuller says on his price action forex website.

Once stated in one of his Videos, he suggested to all, that the best position is to be out of the market, and to just keep waiting for the perfect setups. Traders make money on under 50% of their trades, and If we wait long enough, very high risk reward trades do set up perfectly.

Just my 2 cents.
hunter

Interesting proposition, thanks. But how much waiting will be long enough? How to define it?

 

[Dacamic]

... how much waiting will be long enough? How to define it?

The bases are loaded in the bottom of the ninth in a tie baseball game, and the pitcher -- who has been struggling with his off-speed and breaking stuff -- is behind the batter with a 3-0 count. That's a high-probability setup for a fastball in the heart of the strike zone, but we wouldn't know that unless we understood baseball and had been watching at least a portion of that game. Furthermore, the set-up described for baseball is meaningful only within that setting; thus, it would not be very useful in soccer or curling.

In similar fashion, high risk-reward trades need to be defined within the context of each trader's method or system. For example, one trader might see a dip to the 55-day MA as a great buying opportunity when the broad equity market is in an uptrend, yet a person focusing on fundamentals might have only a vague awareness about moving averages. In other words , you should define "high risk-reward" and learn to identify corresponding setups in a way that is relevant and understandable to you.

In regard to "how much waiting will be long enough", a batter cannot create the fastball scenario described above, rather he needs to wait for it to arrive, and then be able to recognize it and know what to do with it when it does arrive.

 

[Gilbey]

Hello Nial

That's a quote that Nial Fuller says on his price action forex website.

Once stated in one of his Videos, he suggested to all, that the best position is to be out of the market, and to just keep waiting for the perfect setups. Traders make money on under 50% of their trades, and If we wait long enough, very high risk reward trades do set up perfectly.

Just my 2 cents.
hunter

Pretty obvious by all of your posts that you are Nial Fuller, not to say your site is not good because it is good, bloody good infact.
If a newbie were to come across your site and absorb all the free info there before buying a half dozen or more useless ebooks then they would be truly fortunate.

 

[lancehibner]

According to stock trading theory you cannot be a winner in every trade but your average return has to be positive and the risk of your trading method has to be minimal.Winning stock trading strategies must be investors strategies. This is the only way to win. The classic stock market axioms are not valid for short-term trading. Read some books to know more about selecting the best trading strategies.

 

[neil]

Aspects of share buying/selling campaigns

Found this thread

Traders Laboratory

Click on the PDF file.

(You might have to register but it's free)

Gives some insight into a traders mind.:smart: