Where do I start?

[arthur.leat]

Hi Guys,

Although I'm long in the tooth and have been an investor for some years using fundamentals analysis, I've yet to dip my toe in investing using TA. When I look around this and similar websites and see the vast array of information, tools, and discussion available, I'm left wondering where to start.

I'd be glad of any tips:?:

 

[lloydbee]

How are you even surviving these days with Fundamentals, they have not worked for a while now.
and I hope you don't 'Buy and Hold' because it's not a strategy!

Start with Virtual trading, grab an indicator or two and look for repetitive results or actions. Decide on trading time-frame and just get started, nothing beats Virtual trading a live or current market. Keep notes on your thoughts and trade details on paper or better yet on your charts.

Trading isn't hard, keeping the money is! Psychology matters, have fun with it, but know and treat it like a business.

 

[arthur.leat]

How are you even surviving these days with Fundamentals, they have not worked for a while now.
and I hope you don't 'Buy and Hold' because it's not a strategy!

Start with Virtual trading, grab an indicator or two and look for repetitive results or actions. Decide on trading time-frame and just get started, nothing beats Virtual trading a live or current market. Keep notes on your thoughts and trade details on paper or better yet on your charts.

Trading isn't hard, keeping the money is! Psychology matters, have fun with it, but know and treat it like a business.

Thanks for the advice, lloydbee. The answer to your question must be "Barely", but I'm trying to do better; that's why I'm here.

I had already decided to paper-trade for awhile to try my ideas out.

Can you recommend any books for aspiring traders?

Thanks again,

Art

 

[lloydbee]

Hi Art,
as an option trader I have read possibly very few books compared to other traders out there and I definitely could not point out a single must read book, it would depend on what you trade as to what to read.
I am not big on reading, I am big on 'doing' instead. So regardless of whether you trade shares, options, cfd's or any other form for me the important thing is to virtual trade especially to me knowing that you already come with some trading experience.

What do you plan on trading/virtually?

Lloyd

 

[ELLI0TT]

Hi Guys,

Although I'm long in the tooth and have been an investor for some years using fundamentals analysis, I've yet to dip my toe in investing using TA. When I look around this and similar websites and see the vast array of information, tools, and discussion available, I'm left wondering where to start.

I'd be glad of any tips:?:

Hi Arthur,

First of all don't risk your money using T.A until you have a method...and fully understand it. That could be trend following, Elliott Wave or any of the hundreds of options available. Reading is always a good start and the internet holds some good (and bad) information. You can contact me with a private message if you'd like to discuss more. I'd be happy to provide some suggestions.

 

[adnounce2005]

Interactive Options - sometimes the grass really is greener

 

[lloydbee]

Reading is always a good start and the internet holds some good (and bad) information.

...and that is where time is wasted for the new trader, they have no idea what is good information to read and what is not.

I've no idea what is with the adnounce2005 post but it wasn't me unless that was meant to be a question about where to start?

 

[ELLI0TT]

...and that is where time is wasted for the new trader, they have no idea what is good information to read and what is not.

I've no idea what is with the adnounce2005 post but it wasn't me unless that was meant to be a question about where to start?

Well there is one thing for certain beginners don't want to be thrown in at the deep end with Options.

Probably good to start off with basic trend following techniques and learn the more technical aspects later...if they want to that is. Complex strategies don't increase profits!!

 

[timsk]

. . . I'm left wondering where to start. I'd be glad of any tips:?:

Hi Arthur,
Welcome to T2W.

When you registered, you should have received a welcome e-mail with some links in it - specifically either or both of the first two in my signature. These threads are written precisely with you in mind - so start by devouring those and following the links they contain.
Enjoy!

Tim.

 

[lloydbee]

Well there is one thing for certain beginners don't want to be thrown in at the deep end with Options.

Probably good to start off with basic trend following techniques and learn the more technical aspects later...if they want to that is. Complex strategies don't increase profits!!

Firstly, Arthur has some trading experience...
Secondly, he hasn't even mentioned 'what' tools he plans on trading with so for all we know it could still be shares just that he wants to change from Fundamental to Technical in his trades.
Thirdly, you say beginners don't want to be thrown in the deep end with Options! what are you basing this on? there is nothing wrong with a beginner starting off in Options, they are not that scary and can be kept very simple.

 

[ELLI0TT]

Firstly, Arthur has some trading experience...
Secondly, he hasn't even mentioned 'what' tools he plans on trading with so for all we know it could still be shares just that he wants to change from Fundamental to Technical in his trades.
Thirdly, you say beginners don't want to be thrown in the deep end with Options! what are you basing this on? there is nothing wrong with a beginner starting off in Options, they are not that scary and can be kept very simple.

Just had a quick look at your website. Are you licenced by ASIC to give financial advice? I can't see it anywhere on your site.

 

[lloydbee]

Just had a quick look at your website. Are you licenced by ASIC to give financial advice? I can't see it anywhere on your site.

Maybe you should save this for a PM or start a new thread and we can talk about this publicly rather than hijacking someones thread!

No thanks. I am not really that interested.

Just as I thought, so maybe save the trying to be clever in public for somewhere else and lets keep this an informative thread for Arthur.

 

[ELLI0TT]

Maybe you should save this for a PM or start a new thread and we can talk about this publicly rather than hijacking someones thread!

No thanks. I am not really that interested.

You are correct the thread should be kept intact. As in giving beginners some direction in regard to what path may suit them. And where to find suitable material to learn from.

 

[ELLI0TT]

maybe save the trying to be clever in public for somewhere else .

Arthur or anybody else should know that advice cannot be given unless you are licenced by Asic to do so (Australia). It was a simple question to you asking whether you were...especially as you say you are a mentor.

 

[lloydbee]

Arthur or anybody else should know that advice cannot be given unless you are licenced by Asic to do so (Australia). It was a simple question to you asking whether you were...especially as you say you are a mentor.

This has no relevance here, nobody asked or was given financial advice!

 

[arthur.leat]

Hi Arthur,
Welcome to T2W.

When you registered, you should have received a welcome e-mail with some links in it - specifically either or both of the first two in my signature. These threads are written precisely with you in mind - so start by devouring those and following the links they contain.
Enjoy!

Tim.

Thanks for your guidance, Tim, I'm sure the articles will be a great help

 

[arthur.leat]

Hi Art,
as an option trader I have read possibly very few books compared to other traders out there and I definitely could not point out a single must read book, it would depend on what you trade as to what to read.
I am not big on reading, I am big on 'doing' instead. So regardless of whether you trade shares, options, cfd's or any other form for me the important thing is to virtual trade especially to me knowing that you already come with some trading experience.

What do you plan on trading/virtually?

Lloyd

Hi Lloyd,

Thanks for your letter.

I should probably be better off from my investment activities if I were more like you, but I must confess to being a lifelong bookworm and, as I'm coming up to seventy-four, this ain't likely to change.

I'm now reading Richard Smitten's "How to Trade Like Jesse Livermore". Smitten outlines in some detail the principles that Livermore followed in trading that enabled him to amass (and lose, because he didn't always stick strictly to his methods) several huge fortunes. Livermore recommended that, to be successful, a trader should not cast his nets too wide, should concentrate on the market movers, and focus on a narrow field. With this in mind, I'm considering looking at FTSE 100 companies, but this may change by the time I've finished Smitten's book.

Over the years, from time to time , I've looked at options, but they strike me as being a b it scary and too rich for my blood.

Kind regards,

Art

 

[Enzzo]

focus on a narrow field.

Hi Art,
Gold piece of advice right there from Mr. Livermore....
Specially if you are starting to see "the technical side" of this business, really helps in my opinion, to focus on one or a little number of markets out there and really get to know them from tail to head, as every particular instrument has its own "personality" and "character"....

about starting to trade technically, there are many people here in T2W, with their own threads, or valuable posts, that are really great traders and can help you on this matter....
For me, starting in the right direction is very important, as it is gonna save you a lot of time and hard times....so I would recommend you to look for the "less is more" approach, meaning, the less indicators, and complicate stuff, and the more real understanding of the markets themselves, how they usually move, what make them move in a certain way (technically speaking of course, as you already know about fundamentals) the better....
Cheers,
Enzzo

 

[timsk]

I should probably be better off from my investment activities if I were more like you, but I must confess to being a lifelong bookworm and, as I'm coming up to seventy-four, this ain't likely to change.

. . .With this in mind, I'm considering looking at FTSE 100 companies, but this may change by the time I've finished Smitten's book.

Hi Arthur,
Given your age, background and interests, I imagine you'll want to focus on a swing or position trading strategy? If this is the case, here's a book you might like to add to your reading list: Marc Rivalland on Swing Trading by Marc Rivalland
T2W's very own barjon is a devotee and bases his trading around the principles outlined in Rivalland's book. You can get a flavour of what they're about in this Article: Simple Swing Trading
Jon's a delightful bloke and I'm sure he'd be very happy to help you if you felt this approach suited you.
Tim.

 

[arthur.leat]

Hi Art,
Gold piece of advice right there from Mr. Livermore....
Specially if you are starting to see "the technical side" of this business, really helps in my opinion, to focus on one or a little number of markets out there and really get to know them from tail to head, as every particular instrument has its own "personality" and "character"....

about starting to trade technically, there are many people here in T2W, with their own threads, or valuable posts, that are really great traders and can help you on this matter....
For me, starting in the right direction is very important, as it is gonna save you a lot of time and hard times....so I would recommend you to look for the "less is more" approach, meaning, the less indicators, and complicate stuff, and the more real understanding of the markets themselves, how they usually move, what make them move in a certain way (technically speaking of course, as you already know about fundamentals) the better....
Cheers,
Enzzo

Hi Enzzo,

I'm looking forward to reading the threads and posts on T2W, and am sure I will learn much from them.

The "less is more" approach (or KISS, keep it simple, Stupid!) is one I try to follow in many areas of study, but it's very easy to get bogged down in too much detail.

I appreciate your advice, Enzzo,

Kind regards,

Art