Introduce Yourself Here - Don't Be Shy!!

[Mysticforex 13]

Winbig,

 

Great! If you have a few ideas you're thinking about don't be afraid to run them by us.

The same goes for questions, don't be afraid to ask.

[grr 10]

Good Morning to all Seniors,

I am new to Technical Analysis and want to learn and improve knowledge in Trading.

 

Thanks & Regards,

Raja.

[TheNegotiator 13]

Hi Raja,

 

Welcome to TL! We have lots of info for you and some really experienced helpful traders.

[erasmus 10]

Hello all fin investors,

I'm Erasmus, a new FX trader,started about 6 months back, have lost a couple of dollars, and have decided to halt and learn more regarding the integrity of the market. It gave me joy when i saw this site cos i believe that with the wealth of knowledge found in this forum, i will have a way forward in a positive direction.

 

many tanx.

[Mysticforex 13]

Hi Erasmus Welcome!

Get active, participate, ask questions. That's the best way to get the most from the Forums.

[iwshares 10]

Hi all

 

I've been following economics and investing in mutual funds for the last two years. Since Jan 2011 I've been a bit more hands on. I used fundamental analysis to set up a (hopefully) High Yield Portfolio of UK equities. This has led me down the path to Technical Analysis and trading.

 

I am very interested in trading Forex as I like the way slippage is handled. However as I am still very much in the learning stage I am doing a lot of reading of books, journals and e-information. I don't yet know exactly what I will trade and over what time period. I'm currently hunting for the right backtesting software for me to start testing trading systems while also doing some paper trading and chart analysis.

 

If anyone can recommend an OSX based backtesting programme I would be delighted to know as I'd rather not use bootcamp etc.

 

When not researching trading I run my own business, often outside, so I'm not always staring at a screen!

[TheNegotiator 13]

Hi iwshares,

 

Welcome to TL. I'm sure you'll gain a great deal from the website. I can't help on the backtesting software, but if you take a look at the Automated Trading forum Automated Trading - Traders Laboratory - Professional Traders Community I am sure there will be someone willing to help you.

[$5DAW 10]

I am very interested in trading Forex as I like the way slippage is handled.

 

When not researching trading I run my own business, often outside, so I'm not always staring at a screen!

 

To all newcomers to the Laboratory, welcome :ciao:

I'm not trying to single you out iwshares, but I did wonder what you meant by your slippage statement above. Also, your statement, "I'm not always staring at a screen," triggered my interest. Mostly in regards to the time frame you may choose.

 

Seems like a lot of new traders are attracted to the FX markets, maybe it's the advertising or the notion of a 24 hour market. Whatever it is that draws people to the FX markets, it works. I just wanted to wave a flag of caution to the newcomers. These are tough markets and the moves can be violent, and they can come at any moment, with little or no warning. Most traders know this, and IMO, protecting your capital at all times with stops is highly recommended.

 

I trade FX, and if I was to enlighten a newcomer, I would say, "do your homework." These are global markets, they follow the sun around the Earth, so to speak. As an example of homework, knowing when the opening and closing bell rings on each major trading floor around the world is good information to know. As a matter of fact, knowing when different countries reset their clocks for, Summer Time / Daylight Saving Time is also important (this weekend?). The currency markets can make huge moves on news, it's your job to be aware (as best you can) of all these global release dates/times, and as I said, always have your capital protected from breaking news/rumors when you have an open position.

 

I can only post my opinion, but I've found that arming myself with information, knowledge and an understanding of the under currents of the FX market as a whole, and most importantly the currencies I trade allows me to be a better trader. Furthermore, my best intra-day system fails dreadfully if left (turned on) in the market 24 hours. But, if I turn it on and turn it off at specific times within that 24 hr period the results are a bit more rewarding.

 

Willie Sutton (bank robber) is famous for his answer to the question why he robbed banks by saying, "because that's where the money is."

 

To close I'll paraphrase and say, If you want to make money trading FX, "trade when the money is."

[TheNegotiator 13]

$5DAW I have a question for you on this. If a noob wants to trade FX, would you say a good starting point could be spread betting(outside US) or perhaps even the micro futures now on the CME? I think there are mini FX accounts right?

[nagarjunach 10]

Hello Everyone,

 

I am new to this forum and want to get to know like minded people. I am a new trader who is learning trading tips and first hand experience on trading live prices. I have been following a site for quite sometime which is able to offer me all these qualities. I thought members of this forum could also know about it. The advantage with this site is that there is no fees, easy to understand and trade, they give play money and u can basically practice on it to how long u want to. I have been a play money trader since about 3 months, and may be sometime in the future will be going in for real money trading.

 

Please wish me luck, and yes don't forget to check out the site, I particularly like the daily market talk section.

 

Cheers,

Nagarjuna.

Edited March 24, 2011 by TheNegotiator

[TheNegotiator 13]

Hi nagarjunach,

 

Hopefully you can get benefit and enjoyment from our site and our members. Remember to post as well though so others will hopefully benefit from you, after all we are a community forum first and foremost.

[$5DAW 10]

If a noob wants to trade FX, would you say a good starting point could be spread betting(outside US) or perhaps even the micro futures now on the CME? I think there are mini FX accounts right?

 

Is this a trick question, it's like suggesting the best brand of beer to drink. We could debate dozens of different labels, Fosters, Bud, Dos Equis and Kingfisher, and when all is said and done, we might overwhelmingly agree, cold beer is best, no matter the Brewmaster.

 

Liquidity and volatility are, IMO, the most important elements of a good trade-able market. Depending on a traders style or method of trading, liquidity and volatility can effect one's results to a greater or lesser degree.

[TheNegotiator 13]

Is this a trick question, it's like suggesting the best brand of beer to drink. We could debate dozens of different labels, Fosters, Bud, Dos Equis and Kingfisher, and when all is said and done, we might overwhelmingly agree, cold beer is best, no matter the Brewmaster.

 

Liquidity and volatility are, IMO, the most important elements of a good trade-able market. Depending on a traders style or method of trading, liquidity and volatility can effect one's results to a greater or lesser degree.

 

Er, no $5DAW it is not a trick question. For a noob who wants to start trading forex products, I believe it is a valid consideration. Of course if you are scalping, liquidity becomes much more relevant, but to start to learning how to trade, conservation of capital is a key aspect of survival. Products like the contracts I mentioned offer a smaller capital risk per contract.

[Mysticforex 13]

@TheNegtotiator.

 

Yes, CME does offer mini Forex Futures, I haven't looked into them yet.

 

@$5daw

 

I like that, "Trade When the Money is".

As for your choice of Beers, Hmm... :puke:

[PiptopiaX 10]

Liquidity and volatility are, IMO, the most important elements of a good trade-able market. Depending on a traders style or method of trading, liquidity and volatility can effect one's results to a greater or lesser degree.

 

 

All the Liquidity and volatility in the world are not going to help someone if they don't know how to trade.

[Mysticforex 13]

Welcome nagarjunach!

 

If there's anything you don't understand, ASK!

[$5DAW 10]

All the Liquidity and volatility in the world are not going to help someone if they don't know how to trade.

 

 

Agreed, I would suggest take the time to learn the ins and outs from the safety of the sidelines, maybe build a mechanical system before putting money, any money at risk.

 

I think of it like trying to build a boat, while swimming in the water. If you have build it in the water, then yes, find shallow water (mini contracts).

[walkerelt001 10]

good to be here .have a nice day

[shortbus 10]

Hello. I joined because I am interested in trading... getting rich and stuff. You know the usual.

 

Ha.

 

Anyway, hello world. I am going to lurk and ask questions along the way.

 

I have never done any trades and my eyes usually blur when I see the market pages of the paper.

 

Any tips, pointers and direction would be great.

 

My first reaction to my wanting to get involved was to open a sharebuilder account or etrade. Is this the right thing to do?

[selvan1964 10]

Dear stanlyd(Moderator and other members of TL,

 

Good evening and Cheers to everybody. Thanks.

[Keithlouiselle 10]

My name is Keith; I have been trading Equities for 14 years; FX for 5 years; and am now just restarting Futures; Have experienced a bad month of March in FX; Is this because of the volatility or is it just me; I am strictly a technical trader;

[TheNegotiator 13]

Hi Selvan & Keith,

 

I hope you enjoy yourself here at TL and benefit from our forums. If you are involved in either directly answering questions or asking them, remember it helps others too!

 

As for your bad month Keith, well sometimes that does happen as I am sure you are well aware. There is a great psychology thread here though if you are interested:-

 

http://www.traderslaboratory.com/forums/f37/your-mama-doesnt-trade-so-wise-9278.html

[Mysticforex 13]

My name is Keith; I have been trading Equities for 14 years; FX for 5 years; and am now just restarting Futures; Have experienced a bad month of March in FX; Is this because of the volatility or is it just me; I am strictly a technical trader;

 

 

Hi Keith,

 

Speaking just for myself, I happen to like volatility. For me, March is turning out quite nicely.

Not rubbing it in, we all have good months and bad months. I am sure you have a couple of good months just waiting for you.

[deerhunting 10]

Hello all , I am also new to TL. I have been involved with the markets since 07 in one way or another. Last year I started day trading the es , with so,so success. Some days are winners ,and some days are losers its the learning curve. I am still smoothing out my strategy on the es trading time frames. I have found some great learning tools already. Great to meet everybody.

[TimRacette 11]

Hello all , I am also new to TL. I have been involved with the markets since 07 in one way or another. Last year I started day trading the es , with so,so success. Some days are winners ,and some days are losers its the learning curve. I am still smoothing out my strategy on the es trading time frames. I have found some great learning tools already. Great to meet everybody.

 

Awesome deerhunting, I also began in 07. For me, the "light bulb" moment trading futures was when I began to scale out of my trades. For instance, on the ES I take half my position off at 2ticks and on the Euro at 4 pips. This made my profit curve skyrocket.

 

Scaling out does two things, for one it reduces your risk on a trade, I use a 6 tick stop on the ES so taking half off at +2 dramatically reduces my exposure thus allowing me to hang on to the trade and letting it go to it's target.

 

The second thing it does is build that emotional capital. The larger time frame you trade the less trades you will have and the less frequent winners you will have. By scaling out I can take many entry's during the day (usually about 3-5 on the ES and 4-8 on the Euro) and even if the trade doesn't hit my final target I can get that first target hit of +2ES +4Euro and produce a winning trade (by moving my stop as the trade moves in my favor).

 

That was my light bulb moment. If I could go back and instruct myself how to do it over again I would say begin with one contract to learn how the market works and get comfortable placing trades, and then move to multiple contracts and use the reduced risk method of scaling out. Glad to have you in the forum.