[sevensa]

Originally Posted by Gulam »

Get the RIGHT education and focus on risk managment, thats they key!

How would you define "right" education?

[Gulam]

Originally Posted by sevensa »

How would you define "right" education?

Please look into: read on dominate cycles period by Ehler and his book Rocket Science for traders, risk management, i.e correct position sizing, diversification in to different stocks (if your trading stocks), i.e basket trading. If your trading stocks, there is a definite edge then trading futures which was staring in my face until somoene told me.

I have been trading a long time but not with the correct education. I have learnt from a nice person Iraj, that trading is all about risk management.

[edabreu]

Originally Posted by vikkktor »

Hello everyone,

I've studied a lot about day trading and I'm about to really commence day trading.
I would love to receive general tips on how to accelerate my learning curve.

Also, I have some specific questions:

Please, does anyone know links to sites where I can obtain:
- templates of trader's journal, dairy, evaluation forms or sheet etc.
- free historic data (yearly, monthly, weekly, hourly) for equities, futures and other markets
- free real time market data (NOT delayed)
- free important market data (eg GDP growth, unemployment rate, VIX, open interest, 52 weekly highs/low) all available at the same website
- free open source software that can be used or adapted in analyzing the financial markets.

I realize I may seem ridiculous wanting to have everything free but every penny I save is a penny I can use as capital for trading.

Thank you

A great way to journal your progress is to also journal the success rate of your strategies and trade setups, and even the time of day that you trade so you can recognize any patterns that may have an impact on when you trade a strategy. A great journal, very inexpensive, is here: Your Trading Journal - it is very robust so you can detail almost every aspect of your approach - including your developing (or deteriorating) mental state.

[gethim]

Originally Posted by vikkktor »

Hello everyone,

I've studied a lot about day trading and I'm about to really commence day trading.
I would love to receive general tips on how to accelerate my learning curve.

Also, I have some specific questions:

Please, does anyone know links to sites where I can obtain:
- templates of trader's journal, dairy, evaluation forms or sheet etc.
- free historic data (yearly, monthly, weekly, hourly) for equities, futures and other markets
- free real time market data (NOT delayed)
- free important market data (eg GDP growth, unemployment rate, VIX, open interest, 52 weekly highs/low) all available at the same website
- free open source software that can be used or adapted in analyzing the financial markets.

I realize I may seem ridiculous wanting to have everything free but every penny I save is a penny I can use as capital for trading.

Thank you

FINVIZ.com - Stock Screener will be the best to explore markets

[robertm]

Nifty site, at least for the tech of nothing else.

[edabreu]

This little setup is based on range bars. Depending on the instrument, set the range to something that is within your risk tolerance. I use 7R on the CL, and 5R or 6R on the ES, and 7R on the TF and YM. Think in terms of a price bracket, and what you are looking for is a slammed door on a price bracket run. So look for a series of top closes (range bars can only close at one end of the range or the other), and then a hard bottom close (adjust for shorts).
Remember - only at key S&R, never in middle space. You can use a trading band like a keltner set to about 4.5 deviation.
Merry Christmas, and good luck in 2010.

[vikkktor]

Thanks for the info.

[vikkktor]

Thanks for sharing.
Happy Holidays.