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Introduce yourself here!

  #7641 (permalink)
 
Captain One Lot's Avatar
 Captain One Lot 
MADISON WI USA
 
Experience: Beginner
Platform: TradeStation
Trading: Emini
Posts: 1 since Aug 2017
Thanks Given: 175
Thanks Received: 0

I have been trading since 2012. I seek consistency and profitability. I am learning success is very deeply rooted in trading psychology. I am grateful for Big Mike and the members of this forum. You saved me $2,000 today with a course review. Looking forward to becoming self sufficient. Thanks again!

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  #7642 (permalink)
wallstreetluigi
jersey city new jersey
 
Posts: 6 since Aug 2017
Thanks Given: 0
Thanks Received: 0

support and resistanc all u need, for get all that fancy smancy gabagge

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  #7643 (permalink)
Robot
Dubai, United Arab Emirates
 
Posts: 25 since Mar 2017
Thanks Given: 23
Thanks Received: 15



facevalue View Post
Hi there!

I trade 9 years. Tried all instruments but finally stopped on futures. Currently trade synthetic spreads. Also have some automated strategies that help me sleep more.

Happy to be here and join the community!

Dear Facevalue,
Welcome on board. I'm looking to hear and share experience with you and other members. Could you please tell us more about what's you favourite trading platform, strategy, money management approach, do you have automated trading system..etc.
Good luck
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  #7644 (permalink)
Tinwoodman
Yerevan, Armenia
 
Posts: 12 since Aug 2017
Thanks Given: 12
Thanks Received: 2


Robot View Post
Dear Tinwoodman,
A trading plan usually combined all and more what you mentioned above. You'll find a lot of examples on the internet on Trading Plans. Some are so brief and other are more detailed.
Trading with leverage will "leverage" your risk too. Big Win and Big Loss probability at the same time. Since you are in learning mood, I would prefer to forget leverage and make small wins, small loses and keep in the game. I recommend to use actual account, not a demo one, to take things seriously. Irrespective of how much your win or loss, as long as you are still in the game, The main benefit is LEARNING WITH PRACTICE. You may read hundreds of books on GOLF, for example, and play another hundred games "virtually" but that won't make you a good player. You need to go to the field, if you take it seriously, and start practice playing. Right?
Stock Trading is easier than FOREX, options and Futures..etc. It's Buy and sell with no time frame constrain. What to buy, when to buy and to sell, how much ...etc that's what you need to learn!
Many Brokers are available. If you are dealing with US market, then I would recommend to have an account with US brokers. Interactive Brokers, Tradestation are examples of them. I love tradestation platform but they are not the only one. You need to search for the most appropriate broker (service, fees, platform features, Customer Support ...etc) that suits you to select. Do your homework for the above to make a wise decision and best wishes for you.
Bye

Dear Robot
Thanks for your advice, it's really helpful to me. But I have one concern about stock trading, especially in US markets. The issue is actually I don't have enough time for intraday trading, so I can only day trade and as I know if you are keeping your position open from one day to another overnight I mean, you must have $25.000 account in your deposit. Is it true?
Best regards,
Tinwoodman

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  #7645 (permalink)
 shevek 
Bangkok, Thailand
 
Experience: Intermediate
Platform: TradeStation
Trading: JY, CL, SF, GC, EC
Posts: 5 since Feb 2017
Thanks Given: 28
Thanks Received: 5

If you are doing futures, I would recommend at least trying TradeStation. I am not sure about margin requirements of $25,000 for overnight (I don't think this is true) but by writing and automating a strategy you may find you are able to day trade where you thought you couldn't.

In my own experience, as a trader who has still found regular profits elusive, I would also say that writing and backtesting your strategy are essential. In my first, losing forays into day trading around ten years ago, I now know that I didn't have a strategy with an edge and so I was always doomed to fail. Learning EasyLanguage is, so far, the best thing I've ever done for my trading and longer-term investing. (Of course you can write strategies in other languages, but EL seems by far the easiest, and TS's home study course in it is quick and easy to follow).

On TS, you may find that micro contracts like MGC (Gold) and M6E (Euro) allow you to trade live, even with daily bars, with manageable risk.




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  #7646 (permalink)
Robot
Dubai, United Arab Emirates
 
Posts: 25 since Mar 2017
Thanks Given: 23
Thanks Received: 15


Tinwoodman View Post
Dear Robot
Thanks for your advice, it's really helpful to me. But I have one concern about stock trading, especially in US markets. The issue is actually I don't have enough time for intraday trading, so I can only day trade and as I know if you are keeping your position open from one day to another overnight I mean, you must have $25.000 account in your deposit. Is it true?
Best regards,
Tinwoodman

Dear Tinwoodman,
$25,000 is a lot of money to begin with and I won't recommend you to do so even. As I advised you earlier, please search and compare services of different brokerage companies that accept international customer applications. First, look at which market/s are you more familiar with? I'm more familiar with American markets while others may be the British or German markets! That's where you need to start. If you know more about the European companies in UK or Germany and how they perform, how they publish their news ...etc, then that's your market.
Second, search brokerage companies relating to that market and serving international customers. On the internet, you'll get a lot of info and you can review and compare before taking a decision. Average account open for international customer in the American market is US$ 10,000 in the beginning and there are others accept even $5,000 or less!!
After opening account, the value of your equities is considered in your "over-all" account value. Don't worry, big companies like Interactive Brokers and Tradestation are friendly with customers and open minded. However, you may find others are more suitable for your needs and individual requirements. Please search before taking decision.
I would recommend you not to fund your new account with more than $10,000 in a big brokerage company to secure your funded account and getting a reliable service.
Good Luck.
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  #7647 (permalink)
 shevek 
Bangkok, Thailand
 
Experience: Intermediate
Platform: TradeStation
Trading: JY, CL, SF, GC, EC
Posts: 5 since Feb 2017
Thanks Given: 28
Thanks Received: 5

By the way, if you try TS and want to try trading micros, don't take their new $5 per trade option. Pay the platform fees and you will get $1.20 per contract per side.


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  #7648 (permalink)
 shevek 
Bangkok, Thailand
 
Experience: Intermediate
Platform: TradeStation
Trading: JY, CL, SF, GC, EC
Posts: 5 since Feb 2017
Thanks Given: 28
Thanks Received: 5

Oh, and I see now about the margin. For stocks you need $25k in the account if you are opening and closing positions in the same day. If you hold them overnight or longer you can have less, ie $5,000 minimum on TS.


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  #7649 (permalink)
Tinwoodman
Yerevan, Armenia
 
Posts: 12 since Aug 2017
Thanks Given: 12
Thanks Received: 2


shevek View Post
Oh, and I see now about the margin. For stocks you need $25k in the account if you are opening and closing positions in the same day. If you hold them overnight or longer you can have less, ie $5,000 minimum on TS.

That's my concern about stock trading. How can I know when price hits my stop loss or take profit, during the same day or may be a weak after? So, anyway I need that $25K on my account.

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  #7650 (permalink)
Robot
Dubai, United Arab Emirates
 
Posts: 25 since Mar 2017
Thanks Given: 23
Thanks Received: 15



shevek View Post
If you are doing futures, I would recommend at least trying TradeStation. I am not sure about margin requirements of $25,000 for overnight (I don't think this is true) but by writing and automating a strategy you may find you are able to day trade where you thought you couldn't.

In my own experience, as a trader who has still found regular profits elusive, I would also say that writing and backtesting your strategy are essential. In my first, losing forays into day trading around ten years ago, I now know that I didn't have a strategy with an edge and so I was always doomed to fail. Learning EasyLanguage is, so far, the best thing I've ever done for my trading and longer-term investing. (Of course you can write strategies in other languages, but EL seems by far the easiest, and TS's home study course in it is quick and easy to follow).

On TS, you may find that micro contracts like MGC (Gold) and M6E (Euro) allow you to trade live, even with daily bars, with manageable risk.




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Dear Shevek,
Tinwoodman is in "Learning" mood and I am advising him to lower risk of big losses by avoiding trading futures and options, or even "leveraging" his trades by margin trading. "Naked" stock trading would give him a chance to repeat small wins and losses but to kept in the game. The main benefit is to keep actual learning without losing his shirt. He needs to learn alot about equities, technical analysis, strategies, discipline, ORDER TYPES ...etc before taking higher risk!
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Thanx

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