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What Is The Easiest Market To Begin Trading In?
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What Is The Easiest Market To Begin Trading In?

  #31 (permalink)
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Born2Slow View Post
I have both Market Wizards and the Livermore book.

Excellent. It is interesting to note, but I found that different traders take home different messages from the books. With Market Wizards, as my trading progressed, I would suddenly find completely new and different insights in there.

Remember, of all the Market Wizards, Minervini has the best risk-adjusted returns. However, by only using quarterly numbers the extent of the drawdowns is hidden. Nevertheless, he returned 220% p.a. from 1995 to 1999 and his drawdowns were tiny (<1% on quarterly numbers). His best year during that period was 1995 were he made 500%, so he did not benefit as much from 1999 as some other traders did during that period.

Darvas and O'Neil both provide solid trading plans that require a little bit of judgement on the taking of profits. Everything else is pretty well documented and should make following their strategies easier. If I recall correctly, Minervini did not provide such a detailed trading plan, but his book should also be recommended reading. He provides lots of other insights that in combination with O'Neil can be extremely useful.

Ultimately, even with the above, there is still room for interpretation (profit taking, position sizing, scaling in / scaling out) and you would need to develop your own method. It is crucial however that you don't alter your methods when you get frustrated. For instance, if you decide to hold for long term gains, and get a lot of trades that reverse and stop you out at break-even, it might be tempting to take profits at 15%-25%. Should you then change your method, you will become frustrated by all the big movers that you sold too soon. Either adopting a single approach and sticking with it, or scaling out of winners may work. You need to decide which suits you best.

Oh, just to mention this again. Trade as infrequently as you can. Give trades time to either get stopped out or make decent profits. It is incredibly frustrating watching the only stock in your portfolio do nothing (or go down) while the market moves up, but if you give in to that frustration, then your results will suffer. The account will churn itself to death and there will be too few winners to make up for that churn.

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  #32 (permalink)
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  #33 (permalink)
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Itchymoku View Post
None

Haha, so true. There is no "easy" in trading. It takes effort.

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  #34 (permalink)
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saber86 View Post
Focus on good moving markets, no need to trade markets that do not move.

M6E slowing moving....

ES fast moving....

What are your thoughts?

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  #35 (permalink)
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doha, qatar
 
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sharpshoota View Post
Trading forex is very much the same as trading anything else, just alot cheaper.
You can use support and ressistance , any indicator , volume .... etc..

Try a demo account from f.ex: fxcm or oanda and you will see.
Forex tester can also be used to test strategies.


If I can advice you, DO NOT TRANSACT WITH FXCM or you might end up losing hope coz they can terminate your account at will.
I have been with them and scalping like hell making 35 trades per day all doing manual trades then suddenly they terminate my account for no reasons at all.

Just like that, all your efforts, hopes and dreams was gone. worst! I dont even know if they will even refund my money.

After what they've done with me recently, I see them as CROOKS!

Beware of FXCM!

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  #36 (permalink)
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anagnam View Post
If I can advice you, DO NOT TRANSACT WITH FXCM or you might end up losing hope coz they can terminate your account at will.
I have been with them and scalping like hell making 35 trades per day all doing manual trades then suddenly they terminate my account for no reasons at all.

Just like that, all your efforts, hopes and dreams was gone. worst! I dont even know if they will even refund my money.

After what they've done with me recently, I see them as CROOKS!

Beware of FXCM!

That makes no sense. Wouldn't they want to keep your business due to your frequent activity?

Have you emailed them and gotten any response?

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  #37 (permalink)
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FXCM reviews belong in the review thread only.

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