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I am currently making the transition from being mainly a breakeven trader to becoming a consistently profitable one.
Thank you to Big Mike for creating this community, I hope it will help me achieve this goal and develop as a trader. Looking forward to contributing to the community and interacting with many of you.
Hi, I'm new here as well. Good to see another trader from UK. What has your experience been so far and how do you keep the commission down? I'm learning but new to it all. Still trying to find a lower commssion broker and charting software. I've heard good things about Trendspider, TC2000 but brokers a hit and miss as fees are higher. I don't do CFD stocks, as I don't use margin and spread.
What I find difficult is to find a list of honest reviews and great traders to learn about and from. I know that many have talked about finding a mentor or learning handson on the trading floor, but for someone that wants to be a day trader and do-it-yourself in your own time, how do you go about this? I've used two days to read the thread on live trading rooms reviews and vendors and there's just so much scams out there that it dilutes the good from the bad.
I know I'm over thinking it, more akin to if you want to learn a skill, you go take an education or course, I wish there was the same in day trading stocks.
Welcome fellas
be very careful who you choose your broker to be...do some searches on here. Plenty of great info
Keep away from https://ivytrusts.com/
who are in fact in the UK...I know someone recently got scammed by them.
You will need to spend many hrs analysing price etc
There are many ways to look at things...best to find your own way and dont trade money until you have an edge.
eg positive expectancy. You will soon learn the jargon.
Very few people can find an edge and even fewer are able to trade it. Many dont recognise it if they stumble upon it and many many give up in the process.
Can you use Interactive Brokers? They have allowed international stuff for about forever. Their data feed is bad but you can use a decent feed. I run Ninja Trader with a paid data feed using them. It is a multi part sign on but it works.
I trade the ES and yes I have the MES (micro ES) set up as a base chart with the ES as the visible chart on Ninja Trader 8 and it works well. Why you very well may ask. Because the MES is 1/10th the ES but the price is the same. So a $400 risk on the Es is $40 on the MES. Makes figuring things out a lot cheaper.
Regards Al Brooks he is an advanced course in price action. Many of us here follow a gentleman from Oxford Mississippi (a college town in the deep south) who goes by "Mack". He puts out a 30 minute bar by bar review of the ES four nights a week on You Tube. He follows a simplified Al Brooks method. He has been doing this for 20 years. The videos are free. He does offer a 100 page (large font, lots of white space) PDF book for $90. It is clear Mack wants his followers to succeed. He is also clear it is hard work with no overnight success stories. Just google on PATS (Price Action Trading Systems .com) to find his You Tube videos. Search for Mack's Soap Box thread on this site for recommendations for specific videos where as he says he gets up on his soap box.
Also do watch some of FuturesTrader 71's pre-market free you tubes.
