I hear you on the spreading myself too thin and not picking something and focusing on it. You are completely correct, my intention was more to get a vague idea of the different choices out there so I could get a feel for what I am most comfortable with. I do have a habit of getting sidetracked in my research.
I also agree with you opinion on services and trade rooms, but I know so little the Options service was by way of an introduction. I'm not so stupid that I will throw money away - they have a full money back deal which they actual seem to honour (and I even made money on the conversion )
So I flounder around trying not to get too distracted by all the shiny choices, while developing understanding enough about them to know if they are where I want to concentrate. I do keep gravitating back to swing trading, though I have nothing as far as methodologies or systems yet.
I too am very interested in Al Brooks and his work, but I will miss the webinar as the next two weeks are very busy work wise for me. I will watch the recording in the evening.
Good luck with the 5 min plan - let me know how it goes
If you like options then stick to them. There is a youtube clip of a mature age lady who made millions trading options. Nothing wrong with anything, just maybe hone in on the one you like the most perhaps for now.
Don't worry about methodologies too much at this stage. There is no right or wrong way, you will slowly find your feet like we all do.
As long as we don't go broke before that is the only concern to have, the rest is all good. Enjoy
Its a fickle little bastard...but i guess it you watched it for long enough you could pick up some things to play with. I just can't watch it, like i said it doesn't move for quite a while them boom! The entire depth is swept and off it goes...No hints either...
I'd be really careful trading CFDs on indexs intraday. They can play all kinds of games, they're just a bucket shop after all. In my experience its better to use CFDs to enable you to trade End Of Day on Indices/FX/Stocks etc. Stocks with CFDs are pretty good EOD as they allow you to short the ASX equities, which can be limited with the real thing.
Generally futures trading should be the most cost effective commission wise, CFDs are robbing you of that with the spread.
I spent 8 years swing trading ASX and US Equities. I spent the better part of the last 2 years putting in screen time on several different markets trying to find one that suited my time zone and personality. Then you need to watch the market until you start to see the same patterns over and over again and i don't mean triangles and flags.
Swing trading is much easier, less stress and easier for us in Asia to manage. I don't think i'll attempt to trade futures live intra-day until a.) i try a combine with TST using T4 or b.) we move back to the Northern hemisphere and i can trade during normal market hours.
And i should add that my biggest failures in this game so far have come from switching and swapping around before i gave the math time to prove itself. Once you decide on something, stick with it for 1000 trades and if you've validated it, then the math has to prove it sooner or later.
what is up with that? is it because the Nikkei moves around like that or is NKD not being arbitraged in real time. seems to be ~30-40 contract depth a few levels above and below the bid/ask. but then it just jumps. any ideas why it does it? does the Nikkei do that?
I hear you brother.
That surely must be most traders poison down the road of ruin. Yeah I'm done with CFD's and broker driven forex too. In fact I pulled my money and am back in the world of demo and micro trading. Mirus futures is next but I'm not in a hurry.
Swing trading I found very difficult to manage around the clock too. There are no easy choices that lead to easy success that blossom to equity builders. I have been marginally profitable in the past two years overall but not much better then bank deposit interest and in a total loss if you added in man hours spent.
No wonder 10 years at it becomes a common number amongst the successful.
At least now I have taught myself how to go about putting together a plan, but yeah keeping with it is another issue
Well keep with it. Even though i'm back to swing trading i keep the markets open during the day and continue to watch the DOMs. I'll have another go again in the fall....Good luck. If i see anything worth while on the NK i'll post it.