I played the (stock) markets today, and only lost £7.50, not too shabby?

I played the (stock) markets today, and only lost £7.50, not too shabby?

I was actually down £10 right away because of a bad deal i made, so then i tried to get some of this back.

I was actually down around £13/14 at one point, but made some good money on a buy of the pound against the dollar, and sold when the pound was strong, then again with gold, meaning that i only lost £7.50 altogether. I think that this is quite good going huh? For someone who has never traded before i mean??

Did you use the school of philosophy on babypips before making your trade ?

Posted from TSR Mobile

i just used an online trading website.

Im learning trade too but unlike you, I'm taking my time (5 months, recommended) to start opening an account

Posted from TSR Mobile

I have lost £20 now altogether...

Im learning trade too but unlike you, I'm taking my time (5 months, recommended) to start opening an account

Posted from TSR Mobile

I made my money by trading forex, stocks and commodities hurt my capital really badly hence why I only trade forex now.

It's the best way to make your money, this is because unlike companies, Which are affected by factors like CEO resigning etc, majors and minors base their price solely on how many people are buying that major/minor and at what volume. A lot of people buy it, goes up. A lot of people sell it, goes down, thus allowing the more experienced to make a fair deal of money on major/minor prices as shown in that previous picture of my trades. Unless there are issues like Brexit which cause huge uncertainty leading to my unfortunate loss, but remember if Britain remained, I would have made upwards of £18,000.

However if you still want to trade stocks, maybe if you are looking to become an investment banker and want to increase job prospects, either do a "Buffet" where you learn where the company wants to be in five years, if common sense tells you it's likely to get there, and then buy the most likely, undervalued stock. However this involves extensive research into a company and needs long term investments. If your lazy, then just follow the moves Buffet makes... By reading this news. But be prepared to stay solid on the stock, even when it can fall rapidly, if it does BUY MORE!

Or have a look at the Fibonacci method, play this right and you definitely won't regret it.

BTW, been trading since I was 14 so I'd like to think I have some decent experience...




Posted from TSR Mobile

With fees of £5-10 a trade that £100 won't last long.

With fees of £5-10 a trade that £100 won't last long.

Is the Fibonacci only used to calculate support levels, so you can enter the trade there or resistance levels too?
Learning how to trade forex and a tad confused by fib

I think he's trading using CFDs (derivatives) so he's not actually purchasing the stocks themselves but "betting" on the prices and what way they will go.

Which means the fees are actually built into the spread between buy/sell that the broker offers.
Although, some brokers are NASTY pieces of work and the aftermath of Brexit revealed that, where the spreads between buy and sell prices just widened to ridiculous amounts.

I've not used CFDs myself - am I right in thinking his potential losses are unlimited?

Yes, fibonacci can be used to calculate resistance levels too.

I lost £12,000 when I thought UK would remain... Ouch....


Posted from TSR Mobile

That's a good idea, take your time. Rushing into the market can really screw you over lol. Trust me, I've learnt that from experience. I started trading with real money like only 2 months after using a demo account and within the 1st week of trading with real money, I lost about 70% of my trading capital. It took me bloody ages just to break even.

The 2 most important factors for successful trading are:

1. Discipline i.e.: sticking to a system whether it's trend following, swing trading, momentum, renko bars.......... or whatever you prefer.
Don't just go on gut instinct or because it "feels right".

2. Money management - never risk more than 1% to 2% of your total capital on any one trade. So if you've got £100, the maximum you should lose if you're wrong about a trade is between £1 - £2. Find a broker that allows you to trade using small position sizes - e.g.: FXCM allows you to trade at just 7p per point/pip.


My trading mentor said that the best indicator to work out how long it will take you to become proficient in trading is to look at how long it took you to learn to drive.

How would you identify whether it's a support or resistance?