Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.
Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.
Does it mean that you are an expert just because you make a lot of profit? The amount of profit cannot be used to measure the value of a trader. Yes, you must be doing something right if you are making a frequent profit. However, that does not determine if you are an expert or not just by your profit. This is quite a common misunderstanding in the forex industry.
Making a large profit is only one side of the forex market. Majority of forex traders tend to lose most of the time after they have experienced profit. But why?
So many traders fall into a fantasy land where they make an endless amount of money at the beginning. Many beginner traders tend to gain profit at the start not knowing the importance of technical analysis of the market.
The experts on the other hand who stayed became wealthy and stayed that way, continue gaining profit, are all knowledgeable when it comes to the basics. Experts have dialed many ways to control their minds to be set right to be a trader.
Understanding of the market is a must know anyway. Expert traders wait patiently until the right opportunity comes. Opportunity comes to everyone.
What differentiates the experts and the beginners is that experts know when the opportunity has come and knows to take advantage of it. Making profit by luck is possible, and yes luck is also very important. But can you profit with luck every time?
How an expert trader is determined is not by how much the person gained, it’s about the precision and the frequency of results. Profit can’t be maintained by luck. It is maintained and is a result of precision and strategical execution. You shouldn’t worry because you’re not gaining any profit right now.
You should be building your skill sets to be a better trader by experiencing many trading situations of losses and wins. If you invest in your time to improve, your results are guaranteed to increase more frequently and will become more stable.
OEC Trader is now called Gain Trader and the Gain API now allows you to have simultaneous connection to mobile and web.
Optimus Futures www.optimusfutures.com
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
I will be posting my stock setups that I will be taking from 1:30p to 4p EST M-F. My trading is heavily influenced by Thalestrader, who has left a treasure trove of knowledge here at TL. My stock setups will target gapped stocks (S&P 500 constituents priced over $20) that consolidate and continue in the direction of the gap in the afternoon. Entries will include 123s and pullbacks to the 5 min 21 EMA. Please note I am currently on demo mode.
I believe the keys to success in trading are really just a few simple things:
Embracing the probabilistic mindset, which includes taking every valid setup regardless of how I feel about the outcome and not changing strategy based on recent results. Cutting losers quick and letting winners run. Unconditional self love and acceptance. This is probably the most important thing and the ONLY secret there is. By being ok with making mistakes, being wrong, taking losers, giving self money, one can finally learn to trade without fear. This is probably where most people take the most time to learn (10 years for me). Here we go. Blue line denotes entry, red line are my stops adjusted to as close to real time as possible.
Today: -41c, +13c, +0
Swing trading stocks for beginners starting out with only $500
There are only a few different ways to be a market speculator - which way is best for you? You would either become an intraday trader, a swing trader or position trader. Swing trading is by far the easiest and fastest way for a beginner trader to make money right away in the their new trading business.
If you do want to swing trade and only be in a position for 3-5 days or a little longer you will need to have the capital in your account to handle the overnight margin requirement of whatever your chosen instrument is to work in. CAUTION: If you are a new trader and have to use leverage to trade, you just shouldn’t trade. Stay out until you have sufficient capital to go into the market and be able to have a chance to make money.
You can also even become a position investor and trader in the beginning and keep positions for a long term time horizon. Most position investors and traders are in a position for months and sometimes years; these are the most successful consistently profitable money making investors and traders in the business. It is this type of investing and trading which over the long term makes the most amount of money.
One of the reasons this type of investing and trading is so profitable is because the expenses associated with this type of market action are low and do not add up as quickly as they do with other types of trading. Remember, it takes money to make money and also costs money to make money in the live markets, the more money you spend of fee's, commissions, and settlement costs the less money you have to build your capital account up and also build your wealth.
If you would like to be more of an investor or position trader, then you will also need to be well-funded to sustain a draw-down on a position of as much as 50 percent. Should you not have the mental wherewithal to sit through a 50 percent draw-down on any given position in your portfolio, then again I recommend just staying out of the live markets until you have the psychological makeup to do so.
I recommend picking one style of investing or trading and becoming an expert at it. Find a few instruments you like and study their price action and work in those exclusively, you do not need to work in every asset class there is, you also do not need to be in the market all the time because cash is also a position.
Once you learn your method and have it down pat, have your rule based plan composed and can stick to it you can begin swing trading with as little as $500 to start off. One method that is very easy to learn for beginner swing traders is the End of Day method which only has you looking at charts one time a day a the end of RTH and is the most stress-free and relaxed approach to investing and trading that yields less risk and much more reward potential.
Remember, you don’t need a job you need an income, right? End-of-day trading basically allows you to fit in trading around your schedule as a beginner when you are first learning how to trade and as I said, doesn't require a lot of time at your trading station. One thing is absolutely for sure in trading, and that is time equals money, and the longer term your perspective is the more money you will make. EOD trading allows you to be in the market for a longer period of time thus making you more money.
End of day trading strategies are focused mainly on using the daily time frame, it’s easy because you only need one chart set up other than a weekly or a monthly for doing MTF analysis. As a beginner it is the easiest fastest method to learn to make real money right away in the live markets doing swing trading as a beginner. If you're getting into this business to make money right away this is how to do it the fastest easiest way. Have a look at the SWING TRADING FOR BEGINNERS COURSE in the suggested reading section if you are a raw beginner with no experience and want to learn how you can get going with only $500 this course tells you how to do that and then some. Just think of it this way you can make back what this course costs in one swing trade, AND THEN SOME!
**Important** Share the knowledge you gained in this educational blog article. I would really appreciate if you share it on your social media with fellow beginner traders. Click the “Button” to add/share it to Facebook, post it on Twitter or where ever you are.
Thanks a 100 million for your help in sharing these lessons with others.
Remember: Trade smart OR JUST DON’T TRADE!
EURUSD: The pair looks to weaken further as it holds on to its downside pressure. On the upside, resistance comes in at 1.1600 level with a cut through here opening the door for more upside towards the 1.1650 level. Further up, resistance lies at the 1.1700 level where a break will expose the 1.1750 level. Conversely, support lies at the 1.1500 level where a violation will aim at the 1.1450 level. A break of here will aim at the 1.1400 level. Below here will open the door for more weakness towards the 1.1350. All in all, EURUSD faces further downside pressure
Ethereum Price Prediction: Long-term (ETH) Value Forecast – June 22 ETH/USD Long-term Trend: Ranging · Resistance Levels: $300, $320, $340 · Support Levels: $280, $260, $240 The ETH/USD pair is now in a bullish trend. In the last one month, the price of Ethereum had been trading between the levels of $220 and $280. The bulls had made several attempts to break out this range but to no avail. On June 21, the bulls broke the $280 upper price range and reached the previous high of $315 price level. The 12-day EMA and the 26-day EMA are trending northward indicating an uptrend. A trend line has been drawn to determine the duration of the bullish trend. If a bullish trend is ongoing, the candlestick will test the trend line and make an upward move to the previous highs or new highs. eETH/USD pair is still in a bullish trend. However, if price breaks the trend line and another candlestick closes on the opposite of it; the bullish trend is said to be terminated. The ETH price is expected to reach a high of $340 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research. Top of Form Source: www.bitcoinexchangeguide.com
Hi this Andy Goswami from NJ, joined this forum. Beginner in Futures trading - about 4th week into live trading. Looking for lots of mentoring, coaching. Have a day job but trying to plan to replace the inflow. Looking forward to exciting times and a new way of life. Thanks
Only one week left until this promotion expires.