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KandelC
Newbie
Joined: Aug 14, 2005
Posts: 30
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 Posted: Sun Aug 14, 2005 8:39 pm Post subject: Wanna Learn 2 Trade |
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Hello. . . I am a newbie here. I have had an interest for a while about learning to trade Commodities and Futures. I have read a few books and talked to a cousin who does it. Also, got ahold of Alaron and got some information from them. But I wanted to find more information for my hungry mind so that I can make a well informed decision.
I heard that Paper Trades are good to learn how to get my own system down. But I have no clue where to start on that. Any suggestions? I am willing to learn all that you throw at me.
Thanks!! |
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doc235
Newbie
Joined: Aug 14, 2005
Posts: 30
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| Posted: Mon Aug 15, 2005 7:34 pm Post subject: Re: Wanna Learn 2 Trade |
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| KandelC wrote: | Hello. . . I am a newbie here. I have had an interest for a while about learning to trade Commodities and Futures. I have read a few books and talked to a cousin who does it. Also, got ahold of Alaron and got some information from them. But I wanted to find more information for my hungry mind so that I can make a well informed decision.
I heard that Paper Trades are good to learn how to get my own system down. But I have no clue where to start on that. Any suggestions? I am willing to learn all that you throw at me.
Thanks!! |
you will hear many many people make fun of paper trading, the main reason being because you don't get the REAL effect of trading because when your trading or real you may put in a buy at say 10.95 and y time it hits the floor the price is now 12.25 and your order is missed ( this is common) so to properly papertrade you should look at the bid and ask, then count to 20 and write down the price that is on the ask and this is the price you got it at.
some say 5 seconds some say 10.
then when ready to sell again look at the bid an pick the current and then count to 10 and write down THAT prive. the difference will be your profit or loss.
now many say of you an do this on paper with 90% wins, then your ready to trade. But i feel that since 98% fail i would shoot for 98% correct then start trading.
and you will still have a learning curve to overcome with actual live trading. some stocks move slow,some will move so fast your monitor will light up like a christmas tree  |
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KandelC
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Joined: Aug 14, 2005
Posts: 30
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| Posted: Mon Aug 15, 2005 8:11 pm Post subject: |
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Thanks, doc235. I just want to learn as much as I can, the best way I can. If it means that I read everything and try the paper trading to get my own system going, then so be it. That is what I am gonna do.
I don't want the REAL effect of trading right now. I want to be able to feel secure in what I am doing so that I am not second guessing my decisions. Cause I know that if I am second guessing, then I shouldn't be doing that trade and possibly lose everything. |
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Goldking
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Joined: Aug 15, 2005
Posts: 38
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| Posted: Tue Aug 16, 2005 4:33 pm Post subject: |
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It will be good idea if you will concern some experience people before jumping in to trading
Thank you. |
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doc235
Newbie
Joined: Aug 14, 2005
Posts: 30
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| Posted: Tue Aug 16, 2005 6:43 pm Post subject: |
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| Goldking wrote: | It will be good idea if you will concern some experience people before jumping in to trading
Thank you. |
of course they would want to watch some experienced traders as they get the hang of trading and thats why the forum here i believe? so they have begun a good lesson by joining a forum that discusses trading the forex as well as has many experienced forex traders already. Some that are willing to assist newbies to the forum as well as o trading in the first place.
To just jump right in without preperation is crazy though, no matter how many experienced traders you know or watch.
there are IRC live rooms that does nothiing but trade the FX and you may want to consider one of these. I use a program to get on the IRC (internet relay chat) called Mirc from mirc.com and it has several listed already. I find that othernet is one of the better, since it is dedicated to trading of all kinds. from daytrading to investments to forex.
that is IRC.othernet.org or visit www.othernet.org and read up on them.
best place to watch live action real time trading beiing done. the chat forums are great, but are not real time. |
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KandelC
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Joined: Aug 14, 2005
Posts: 30
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| Posted: Tue Aug 16, 2005 7:29 pm Post subject: |
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Well, that's why I am asking all sorts of questions. I have no clue what to ask a real live person on the phone or face to face.
I, however, did speak to a broker from Alaron. And I can't do anything there unless I have about $3,500 to put into an account for trading when I feel ready. I can't even start paper trading unless I have that money! What's the use of me seeing if it is actually something that I have the knack for, only to realize I don't want it and yet they have my money? |
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doc235
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Joined: Aug 14, 2005
Posts: 30
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| Posted: Wed Aug 17, 2005 7:31 am Post subject: |
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| KandelC wrote: | Well, that's why I am asking all sorts of questions. I have no clue what to ask a real live person on the phone or face to face.
I, however, did speak to a broker from Alaron. And I can't do anything there unless I have about $3,500 to put into an account for trading when I feel ready. I can't even start paper trading unless I have that money! What's the use of me seeing if it is actually something that I have the knack for, only to realize I don't want it and yet they have my money? |
you can still paper trade if you can sign up for a free realtime data feed (there are some, i will look them up ad let you know). and worst case is to use yahoo's data which is 20 minute elayed but would still allow you to practice with data and work on paper trading, but 3500 is not bad (many require 25,000 to open an account with a brokerage now
but let me look around and see if i can get a good reliable sight for you that will allow free REAL TIME data feed. and i do know you can geet charts for free at bigcharts.com to practice with.
i will post later what i find on a fre data feed for you. |
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doc235
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Joined: Aug 14, 2005
Posts: 30
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| Posted: Wed Aug 17, 2005 10:11 am Post subject: |
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| KandelC wrote: | Well, that's why I am asking all sorts of questions. I have no clue what to ask a real live person on the phone or face to face.
I, however, did speak to a broker from Alaron. And I can't do anything there unless I have about $3,500 to put into an account for trading when I feel ready. I can't even start paper trading unless I have that money! What's the use of me seeing if it is actually something that I have the knack for, only to realize I don't want it and yet they have my money? |
back again i found out that my broker has demo accounts that have real time forex quotes as well as real time stock qoutes, so you should look at thier site and if your really interested then sign up for a demo.
they aRE www.MBtrading.com
manhattan beach trading out of california, i have been with them since 1998 and am on a first name basis with the owners. mostly hey oc, deposit more funds hehehe
goto thier site and check it out. good place to start
doc |
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Goldking
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Joined: Aug 15, 2005
Posts: 38
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| Posted: Wed Aug 17, 2005 5:26 pm Post subject: |
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Hello doc
Its very great! The site which has been provided by you is beneficial to every one especially to softwares developers and institutions,individual traders and brokers dealers.
Even i too want lot of information about this topic but after reffering this site i got detail information about MB trading.
thanks a lot. |
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KandelC
Newbie
Joined: Aug 14, 2005
Posts: 30
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| Posted: Wed Aug 17, 2005 10:03 pm Post subject: |
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Thanks, Doc!! I put it in my Favorites. I will look at it more in detail later tonight.
I know that $3,500 isn't too bad. But then it is bad if you are simply living from one paycheck to the next with nothing in savings or checking. At first he said $5,000 but he said we could get by with $3,500. So, I am not really complaining. Eventually we will get that money to start. But then it's best that we don't right now. Saves us from just throwing it away without knowing what we are really doing. |
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doc235
Newbie
Joined: Aug 14, 2005
Posts: 30
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| Posted: Thu Aug 18, 2005 8:05 pm Post subject: |
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| KandelC wrote: | Thanks, Doc!! I put it in my Favorites. I will look at it more in detail later tonight.
I know that $3,500 isn't too bad. But then it is bad if you are simply living from one paycheck to the next with nothing in savings or checking. At first he said $5,000 but he said we could get by with $3,500. So, I am not really complaining. Eventually we will get that money to start. But then it's best that we don't right now. Saves us from just throwing it away without knowing what we are really doing. |
and i can tell you right now that is exactly what you would be doing, throwing it away. trading is not even close to easy. many go into it thinking itis easy money, but a REAL trader does a LOT of DD (due diligence or homework) and spends a lot of time making sure they know how to do it as well as how thier software will react. and your internet connection is critical also. if your on dialup, expect problems, i have seen many blame the brokers software when in fact it is thier system that can't keep up. |
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KandelC
Newbie
Joined: Aug 14, 2005
Posts: 30
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| Posted: Fri Aug 19, 2005 4:30 pm Post subject: |
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| Oh, I plan on doing my homework before I jump in with both feet. That's the only way I plan to succeed. . . Is to do my homework and stay on top of things. |
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doc235
Newbie
Joined: Aug 14, 2005
Posts: 30
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| Posted: Fri Aug 19, 2005 6:04 pm Post subject: |
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| Goldking wrote: | Hello doc
Its very great! The site which has been provided by you is beneficial to every one especially to softwares developers and institutions,individual traders and brokers dealers.
Even i too want lot of information about this topic but after reffering this site i got detail information about MB trading.
thanks a lot. |
great, glad they where of assistance. i have been using them since 1998 myself and they are goo people. and you have to be very careful in this day an age for so many scam companies out there  |
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doc235
Newbie
Joined: Aug 14, 2005
Posts: 30
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| Posted: Fri Aug 19, 2005 6:06 pm Post subject: |
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| KandelC wrote: | | Oh, I plan on doing my homework before I jump in with both feet. That's the only way I plan to succeed. . . Is to do my homework and stay on top of things. |
there is a very nice old saying i like
if you fail to plan to succeed, then you plan to fail to succeed
i hope that makes sense. |
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KandelC
Newbie
Joined: Aug 14, 2005
Posts: 30
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| Posted: Fri Aug 19, 2005 7:02 pm Post subject: |
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Yup. Made perfect sense to me. LOL.
Just like I plan to go to school to succeed in the Rat Race we call Life and do the best I can for my daughters. However, if I remained a stay-at-home mom and a tragedy befalls me (us). . . Then I just failed to succeed as my daughter's successor.
Right? |
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