What to Do ?

[mayoush.rifai 10]

Hey everyone - I have been writing here for some time now - and I have noticed that noone ever asks me anything or suggests anything when I ask them. I honestly need help - my broker company has the policy of not saying what to trade on - I respect that - of course they should not - that would be blasphemy to their profession - but you can tell me - leaving it to me to make the decision whether I want or not to follow the advise - but people do please help. The markets open in a couple of hours and I have no idea what to do - I have profitted but I have lost too. Whatever I do - I seem to have a 50/50 chance as what to do. Can someone please explain. Thank you very much all in advance.

[SIUYA 11]

most advice as to what to buy and sell is likely to be less than 50/50 or the advisor has a vested interest.

TL is more about supporting those who want to learn and develop their own system in order to make their own trading decisions through strategy discusssions, trade methods, policy discussions - its not necessarily about advice for what to buy or sell....even though this is here as well.

there are plenty of places where this advice will be available - they will usually charge you for this, but if you dont understand and have your own method then this advice is likely to be only as good as a 50/50 decision.

 

If you have specific questions or ideas about trading questions then TL is a good place to start. There is plenty here to read and absorb first.

[MightyMouse 12]

Hey everyone - I have been writing here for some time now - and I have noticed that noone ever asks me anything or suggests anything when I ask them. I honestly need help - my broker company has the policy of not saying what to trade on - I respect that - of course they should not - that would be blasphemy to their profession - but you can tell me - leaving it to me to make the decision whether I want or not to follow the advise - but people do please help. The markets open in a couple of hours and I have no idea what to do - I have profitted but I have lost too. Whatever I do - I seem to have a 50/50 chance as what to do. Can someone please explain. Thank you very much all in advance.

 

You should idle your account before you blow all your money. You are not 50/50. You are on the verge of losing all your money. It will be a good exercise for you. Parting of trading is knowing when to trade and a trader shouldn't trade if he is trading in a market that he can not take advantage of other traders. If you do not know what your are doing, then you will be taken advantage of and not the opposite. So don't trade. No trade is the best trade you can do right now.

 

Learn how to read order flow and then practice how you will enter and exit in the direction of order flow. Price doesn't have to follow anything. It does what it does.

 

You will need a plan.

 

You will need to make sure your capital is adequate for the goals and objectives of your trading plan. If you do not have enough money, you will fail.

 

It is naive to think that you need to win more than you lose to make money trading. Do not make 60/40 a goal or think that it is better than 50/50.

[wrbtrader 10]

Hey everyone - I have been writing here for some time now - and I have noticed that noone ever asks me anything or suggests anything when I ask them. I honestly need help - my broker company has the policy of not saying what to trade on - I respect that - of course they should not - that would be blasphemy to their profession - but you can tell me - leaving it to me to make the decision whether I want or not to follow the advise - but people do please help. The markets open in a couple of hours and I have no idea what to do - I have profitted but I have lost too. Whatever I do - I seem to have a 50/50 chance as what to do. Can someone please explain. Thank you very much all in advance.

 

First of all, the markets will be here tomorrow, next week, next month and next year. Simply, do not rush into any decisions just because the markets open soon and you're confused about what to do. In fact, the best decision you will make is to "stay on the sidelines" and do nothing when you don't know what to do.

 

You give no indication about what you're interested in and that may because you really don't know anything. Therefore, maybe you should just talk about the markets you're interested in trading or investing and maybe someone will post some links to something that may be useful for whatever it is you're interested in doing.

 

For example, if you're looking for investment advice or long term trading advice...

 

Barron's Top Financial Advisors - 2012 Ranking of Best Financial Advisors - Barrons.com

 

Another example, if you're looking for trading advice...

 

Collective2 - Find the best trading strategy

 

There are many other sources like the above if you know how to use Google and the above are just quick suggestions off the top of my head. Thus, I don't know if they are the best sources for looking for sources where someone tells you when to specifically buy and sell something.

[Guest nayanreza]

Many traders use indicators to determine when to enter and exit trades. Most charting software includes dozens of (different indicators) that can be displayed on the charts. Popular indicators such as the Stochastic, and MACD, are frequently discussed when traders get together. I have listened to a number of these discussions; the interesting thing is that people typically explain why they use a particular indicator by citing a number of examples of when it has worked for them.

The examples do not prove anything. It is possible to flip a coin and have it come up heads five times in a row. Few traders would observe this and then think that when you flip a coin it always comes up heads. Yet for some reason people will read an article about an Stochastic Oscillator Analyzer indicator that shows four or five examples of good trades it produced, and then they will go and risk their money trading the technique.