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Intro to Trading

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Hello everyone :)

 

This is my first post here. :) I am very interested in Trading and have been recently following the forums, I have several very good books and have been practicing reading charts.

 

I would like to begin sim trading, and wondered which platform would be good for beginners, is easy to navigate and learn, a good all-rounder for then continuing onto live trades please? I would like to begin with small trades as I have limited account amount at present. I will then build this up to a larger account when I begin to live trade.

 

What would be the best market as an intro to trading? ForEx?

 

I would like to begin by trying just two markets/platforms, is this wise?

 

Is Tradestation expensive to run? eSignals? I had a look at the forex OandA also.

 

At the moment I am learning from FreeFlashCharts.com which is great however I read not 100% real time.

 

Also can I ask a silly question, FreeFlashCharts.com, can I set it so that I can see the Gold Spot Price?

 

I have started to pretend to trade by keeping a notebook of chosen trades and prices.

 

Thank you kindly for any feedback and I very much appreciate your time. :)

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I opened a demo account with Oanda today and started trading AUD/USD, EUR/USD and GBP/AUD

 

:)

 

Learning by just diving in seems to be working!

 

Welcome to the TL! Oanda I think is a decent starting place(although I'm not an fx trader myself).

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Welcome to the TL! Oanda I think is a decent starting place(although I'm not an fx trader myself).

 

:) Hey there TheNegotiator, thanks for the welcome! Having a great time learning trading ForEx, may I please ask what do you trade?:)

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I opened a demo account with Oanda today and started trading AUD/USD, EUR/USD and GBP/AUD

 

:)

 

Learning by just diving in seems to be working!

 

This is really good job you did. Demo accounts helps a lot to understand basics of forex.

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Hi henry :)

 

thanks for reply, are you new to forex? I did really well last week and my confidence was growing everyday until this week, and well, I broke my rules and kept losing money so now my confidence needs restoring with a more careful approach lol! :)

 

Its great trading forex but still so much to learn, and these candlesticks in particular!

 

Does anyone have any good videos of other forex traders trading so I can see how others plan, trade and execute?

 

that would be cool! :missy:

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Hi henry :)

 

thanks for reply, are you new to forex? I did really well last week and my confidence was growing everyday until this week, and well, I broke my rules and kept losing money so now my confidence needs restoring with a more careful approach lol! :)

 

Its great trading forex but still so much to learn, and these candlesticks in particular!

 

Does anyone have any good videos of other forex traders trading so I can see how others plan, trade and execute?

 

that would be cool! :missy:

 

check this one [ame=http://www.youtube.com/watch?v=ZEWxlBi5djc&feature=feedu]Trading without indicators - YouTube[/ame]

Losses happen to everyone, but the most important thing is to know when to leave the screen and come back next day.

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Hi Vlad :)

 

Thank you for the video link! :)

 

And great advice, know when to leave the market and come back tomorrow!

 

I have kept a trading journal since day one, keeping track of trade records, emotions, reasons and outcomes. When my rules go out of the window, so do the trades. :crap:

 

The thing is, all of the information is out there, I just need more Patience, learning timeframe and discipline:doh:

 

I will keep going onwards and upwards!

 

Human beings are complex creatures, forex is teaching me a lot about my strengths and weaknesses, I used to think I was disciplined lol

 

Military discipline thats what I need!

 

I am feeling scared to go back into the trade, i must rebuild confidence! :doh:

 

Hey thanks for listening to my rant! any more live trading videos would be great! :)

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Hi Vlad

:)

Just a quick question, I've set my MACD to 20, 43, 9

 

I'm looking at 5 min and 30 min daily charts :missy:

 

Please can you comment on the settings I use?

 

Many thanks for your help! :)

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Hi Vlad

:)

Just a quick question, I've set my MACD to 20, 43, 9

 

I'm looking at 5 min and 30 min daily charts :missy:

 

Please can you comment on the settings I use?

 

Many thanks for your help! :)

 

Connect.....here is your first mismatch.

You say you need more military discipline, more confidence etc; etc;

Then you ask for a comment on the settings you are using.

 

It is not the settings.

you need more internal discipline (not military discipline) and a better understanding of how you react to the markets. Merely changing settings will not help.

 

If you wish to know the best settings to use, understand what you are trying to get from using those indicators and work out or test which numbers work best for you. Dont fall into the trap....and it is a trap of avoiding your issue by focusing on a different problem.

 

(take this as a helpful rather than critical comment :))

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:) thanks for your reply Siuya

 

I will take heed of your advice and test out the settings until I find what works best for me, I understand where you are coming from and thanks ;)

 

I think the confidence knock left me scrambling for answers, and asking other people...when in fact I just need to get back in control, test, plan and execute, making notes all along the way.:)

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this is really quite an interesting read, I will tell you why I think so...

 

The first 5 days I traded I made a lot of progress and worked with no indicators, as I said before I just jumped straight in and didnt learn or even know about indicators.

 

After reading and learning MACD and other indicators I began losing more trades, I wonder if I spent too much time looking at indicators instead of reading the chart? :helloooo:

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