Intro to Trading

[Connect 10]

Hello everyone

 

This is my first post here. I am very interested in Trading and have been recently following the forums, I have several very good books and have been practicing reading charts.

 

I would like to begin sim trading, and wondered which platform would be good for beginners, is easy to navigate and learn, a good all-rounder for then continuing onto live trades please? I would like to begin with small trades as I have limited account amount at present. I will then build this up to a larger account when I begin to live trade.

 

What would be the best market as an intro to trading? ForEx?

 

I would like to begin by trying just two markets/platforms, is this wise?

 

Is Tradestation expensive to run? eSignals? I had a look at the forex OandA also.

 

At the moment I am learning from FreeFlashCharts.com which is great however I read not 100% real time.

 

Also can I ask a silly question, FreeFlashCharts.com, can I set it so that I can see the Gold Spot Price?

 

I have started to pretend to trade by keeping a notebook of chosen trades and prices.

 

Thank you kindly for any feedback and I very much appreciate your time.

[Connect 10]

I opened a demo account with Oanda today and started trading AUD/USD, EUR/USD and GBP/AUD

 

 

Learning by just diving in seems to be working!

[TheNegotiator 13]

I opened a demo account with Oanda today and started trading AUD/USD, EUR/USD and GBP/AUD

 

 

Learning by just diving in seems to be working!

 

Welcome to the TL! Oanda I think is a decent starting place(although I'm not an fx trader myself).

[Connect 10]

Welcome to the TL! Oanda I think is a decent starting place(although I'm not an fx trader myself).

 

Hey there TheNegotiator, thanks for the welcome! Having a great time learning trading ForEx, may I please ask what do you trade?

[TheNegotiator 13]

Hey there TheNegotiator, thanks for the welcome! Having a great time learning trading ForEx, may I please ask what do you trade?

 

I day trade futures.

[henryduncan12 10]

I opened a demo account with Oanda today and started trading AUD/USD, EUR/USD and GBP/AUD

 

 

Learning by just diving in seems to be working!

 

This is really good job you did. Demo accounts helps a lot to understand basics of forex.

[Connect 10]

Hi henry

 

thanks for reply, are you new to forex? I did really well last week and my confidence was growing everyday until this week, and well, I broke my rules and kept losing money so now my confidence needs restoring with a more careful approach lol!

 

Its great trading forex but still so much to learn, and these candlesticks in particular!

 

Does anyone have any good videos of other forex traders trading so I can see how others plan, trade and execute?

 

that would be cool! :missy:

[pipbanker 10]

Hi henry

 

thanks for reply, are you new to forex? I did really well last week and my confidence was growing everyday until this week, and well, I broke my rules and kept losing money so now my confidence needs restoring with a more careful approach lol!

 

Its great trading forex but still so much to learn, and these candlesticks in particular!

 

Does anyone have any good videos of other forex traders trading so I can see how others plan, trade and execute?

 

that would be cool! :missy:

 

check this one [ame=http://www.youtube.com/watch?v=ZEWxlBi5djc&feature=feedu]Trading without indicators - YouTube[/ame]

Losses happen to everyone, but the most important thing is to know when to leave the screen and come back next day.

[Connect 10]

Hi Vlad

 

Thank you for the video link!

 

And great advice, know when to leave the market and come back tomorrow!

 

I have kept a trading journal since day one, keeping track of trade records, emotions, reasons and outcomes. When my rules go out of the window, so do the trades. :crap:

 

The thing is, all of the information is out there, I just need more Patience, learning timeframe and discipline:doh:

 

I will keep going onwards and upwards!

 

Human beings are complex creatures, forex is teaching me a lot about my strengths and weaknesses, I used to think I was disciplined lol

 

Military discipline thats what I need!

 

I am feeling scared to go back into the trade, i must rebuild confidence! :doh:

 

Hey thanks for listening to my rant! any more live trading videos would be great!

[pipbanker 10]

no problem

make sure you get your confidence on demo.

dont do any live before you call yourself disciplined.

it is not about clicking the buttons

[Connect 10]

Hi Vlad

Just a quick question, I've set my MACD to 20, 43, 9

 

I'm looking at 5 min and 30 min daily charts :missy:

 

Please can you comment on the settings I use?

 

Many thanks for your help!

[SIUYA 11]

Hi Vlad

Just a quick question, I've set my MACD to 20, 43, 9

 

I'm looking at 5 min and 30 min daily charts :missy:

 

Please can you comment on the settings I use?

 

Many thanks for your help!

 

Connect.....here is your first mismatch.

You say you need more military discipline, more confidence etc; etc;

Then you ask for a comment on the settings you are using.

 

It is not the settings.

you need more internal discipline (not military discipline) and a better understanding of how you react to the markets. Merely changing settings will not help.

 

If you wish to know the best settings to use, understand what you are trying to get from using those indicators and work out or test which numbers work best for you. Dont fall into the trap....and it is a trap of avoiding your issue by focusing on a different problem.

 

(take this as a helpful rather than critical comment )

[Connect 10]

thanks for your reply Siuya

 

I will take heed of your advice and test out the settings until I find what works best for me, I understand where you are coming from and thanks

 

I think the confidence knock left me scrambling for answers, and asking other people...when in fact I just need to get back in control, test, plan and execute, making notes all along the way.

[pipbanker 10]

mate, I don't use indicators, so I cant help you. There was time when I did you them and I failed miserably. I think the sooner you get rid off them the faster you will get to where you want.

[Connect 10]

hey Vlad

 

thanks for your comments, so you just trade by 'the seat of your pants'? so to speak?

 

:missy: back to the market to test out a few things!

[pipbanker 10]

no, I use simple stuff that people usually underestimate

I got strict rules that I adhere. I dont look at the charts if I dont have time to trade. I dont care what is going on there.

here is a great article about indicators. I would strongly recommend to any struggling trader.

 

The Truth About MA---Why I hate MA Crossing

[Connect 10]

this is really quite an interesting read, I will tell you why I think so...

 

The first 5 days I traded I made a lot of progress and worked with no indicators, as I said before I just jumped straight in and didnt learn or even know about indicators.

 

After reading and learning MACD and other indicators I began losing more trades, I wonder if I spent too much time looking at indicators instead of reading the chart? :helloooo:

[tradingwolves 10]

Connect, what kind of signaling are you looking for there are a few sites that i can provide to you...