Concordhok
04-08-2016,
Hello all and thanks in advance!
Brief : I am wanting turn a very small $2000 account into I viable trading lifestyle and eventually quit my job.
History : about 8 years ago I went to one of those massive hype seminars that last 3 days and its basically multiple training vendors selling you their courses. I went a bit silly and spent all my savings and then some on a few of them, forex, eminis and trading CFDs on US Stocks (Im in Australia) I took out a loan of 20k and turned that into 60k in 2008, then the massive drop in the market wiped me out when I tried to "win it back". I realised then my gambling personality had kicked in and I withdrew the remaining 10k and walked away from trading.
Now I'm back.
The residual from such an experience is the education it provided me. I am older and wiser, I have lifetime Ninja software, and a stronger desire to learn again. My day job is working in Mining Industry on rotating 24 hr roster working 13 hr shifts which impacts which markets I can trade and when.
Advice sought : I have been watching the major indicies as a friend has been trading them, (mainly ASX200, DAX, FTSE, Nikkei, DOW and S&P500) and using CFDs as leverage on them. Treating myself as a Newbie as I have so much to learn and refresh, is this a good start? Should I choose a couple and focus on those or covering all is ok? I have found over the last couple months they are very volatile in price movement at the shorter time frames. Which time frames should I concentrate on? Or would range or tick be better to learn with?
Im on NinjaTrader and learning the software again. I don't want to get into indicators, but see many people talking about market volume analysis tools like Gomi indicators. reading into it has me way confused but I see the upside. Any advice on which tools I should focus on? I have wasted the past 4 weeks looking at different indicators and strategies only to realise that price action is King and I really want to narrow my focus now. So thats where I'm kind of hoping you guys can chip in and offer some advice on where I should be at .
Im watching all the videos I can in the Elite section here. Reading as many threads as I can. I am so glad I spent the coin here and not another course. What an amazing community @Big Mike has brought together.
Many Thanks and if there is any experienced traders who would be open to mentor me, exchange PMs/emails or even Skype now and again, and provide some extra personal assistance/feedback, ensure Im on right track, that would also be much appreciated too. However I will be active in the forums too so you will all get a chance to pull me up!
Brief : I am wanting turn a very small $2000 account into I viable trading lifestyle and eventually quit my job.
History : about 8 years ago I went to one of those massive hype seminars that last 3 days and its basically multiple training vendors selling you their courses. I went a bit silly and spent all my savings and then some on a few of them, forex, eminis and trading CFDs on US Stocks (Im in Australia) I took out a loan of 20k and turned that into 60k in 2008, then the massive drop in the market wiped me out when I tried to "win it back". I realised then my gambling personality had kicked in and I withdrew the remaining 10k and walked away from trading.
Now I'm back.
The residual from such an experience is the education it provided me. I am older and wiser, I have lifetime Ninja software, and a stronger desire to learn again. My day job is working in Mining Industry on rotating 24 hr roster working 13 hr shifts which impacts which markets I can trade and when.
Advice sought : I have been watching the major indicies as a friend has been trading them, (mainly ASX200, DAX, FTSE, Nikkei, DOW and S&P500) and using CFDs as leverage on them. Treating myself as a Newbie as I have so much to learn and refresh, is this a good start? Should I choose a couple and focus on those or covering all is ok? I have found over the last couple months they are very volatile in price movement at the shorter time frames. Which time frames should I concentrate on? Or would range or tick be better to learn with?
Im on NinjaTrader and learning the software again. I don't want to get into indicators, but see many people talking about market volume analysis tools like Gomi indicators. reading into it has me way confused but I see the upside. Any advice on which tools I should focus on? I have wasted the past 4 weeks looking at different indicators and strategies only to realise that price action is King and I really want to narrow my focus now. So thats where I'm kind of hoping you guys can chip in and offer some advice on where I should be at .
Im watching all the videos I can in the Elite section here. Reading as many threads as I can. I am so glad I spent the coin here and not another course. What an amazing community @Big Mike has brought together.
Many Thanks and if there is any experienced traders who would be open to mentor me, exchange PMs/emails or even Skype now and again, and provide some extra personal assistance/feedback, ensure Im on right track, that would also be much appreciated too. However I will be active in the forums too so you will all get a chance to pull me up!