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If I were you, I won't trade by margin now. Doing so, will leverage your risk. I would advise you to make a diversified portfolio of "selective" stocks with the amount, buying and selling NAKED. No leverage whatsoever. If you are familiar with type orders, you can place them and keep orders open till they triggered.
By doing so, you are targeting the expected profit and limiting your losses in case the market went against you.
Good luck
That's the question I have no answer. I never thought about stock market and have no idea of which market can be more suitable for me, I just demoed on some CFD's based on French, UK, German, US shares. I can't say if it gives me some perspective on certain share markets.
And by the way there is no opportunity for citizens of Republic of Armenia to open an account in Tradestation, my country doesn't even listed in the list of countries eligible opening account in Tradestation.
Hi.
Since you "have no idea of which market"?, then I would suggest you to trade in US market? The size, the news, the volatility, the choices, the info on the internet, the published printed and non-printed materials ...etc is the largest of its kind.
Go ahead and best wishes in your learning and trading journey.
If you can't get an account with TS, Interactive Brokers would work. They offer service to Armenia; min. acct size is USD 10000. Later, you might be able to try strategy writing and backtesting using Multicharts or similar, though it's fairly expensive (about $1500 for a license). An IB account can trade almost any market you'd care to name; European markets might also suit you (ie, London, Amsterdam).
I quite agree with Robot that you want to limit risk in the beginning if your knowledge is limited. You might even try something very boring and simple and "safe" like investing in ETFs (Google "Bogleheads") and maybe adding some simple technical rules like buying only when the price is above the 200-day SMA and selling if it drops below, or using a 25pc trailing stop. Does that strategy actually work? Code it and backtest!
Also, read everything you can get your hands on. Everyone has their favorites; I'd start with "The Market Guys" and "Trade Your Way to Financial Freedom" by Van Tharp. Then keep reading until there are no books left
Thanks Robot. Your answers are helpful, but as usual they create additional questions for me. I'm using Price Action method in my trading implementing S/R levels, PPZs, Price Action bars, round numbers, sometimes Fibonacci levels and MACD indicator and trying to keep my trading as simple and logic as it's possible, for sure all this doesn't mean I'm profitable one, I just swinging between small losses and small wins, just keeping my demo account alive. So my question is, does this method of trading fits to stock markets or I have to pay attention also to the fundamental part of trading? I always try to escape fundamentals counting it as something unnecessary and often harmful to trading, I prefer more technical analysis than fundamental. Why I'm asking because you mentioned also news, published printed and non-printed materials, that makes some trouble to me honestly. )))
Multicharts... that's something new to me... I used Forex Tester to backtest my strategies on Forex markets, but that cost me less than $100 not something crazy expensive as Multicharts, now I wonder does it worth paying so much? )
Hello All, happy to have found this site, I am new to trading futures and currently use NinjaTrader 7 on my mac along with Think or Swim. My focus has been on UB/ZB and NQ primarily, I am excited about learning and swapping knowledge with the many users on this forum.
Hi all,
My name is Osbeck O'Brien
i been trading for a few years been looking for a place where i can meet other traders and learn and chat
am a Dj by night /early morning trader and IT professional in between.
i hope to have fun in here and share my experiences in trading.