Hi Guys,
Looks like a really nice forum here so i decided to join. I'm relatively new to investing but i have dabbled a bit in Forex and traded that for a couple of years. I do have some questions which i hope someone can answer for me so here goes.
1) How do i view live charts? I know in Forex with it being a 24 hour market you can view them pretty much anywhere but i've been struggling to find streaming candlestick charts of stocks. I went to freestockcharts dot com but for some reason i don't see the price tick like i do in forex, even though the market should be open right now (it's 9.45am UK time) I believe the market opens at 8am?
2) When trading forex in the past i have been advised to always use a risk reward ratio of 2/1 so for every $100 i was risking i'd be wanting to make $200. How would this work in stocks? For instance, if i was to buy two shares in Facebook worth $50 each (i know they're cheaper than this now but let's just go with it) for $100 i'd be risking $100 right? so for a 2/1 risk reward i'd be wanting to make $200 but wouldn't this take forever to achieve? The each share would have to go from $50 to $100 and if you're a trader/investor who only holds for lets say a couple of weeks how would you do this?
I hope the second question isn't too confusing.
3) The final question is can i bring my technical analysis studies into the stock market which i learned from Forex? I learned alot about support, candlesticks and trendlines. Do these have a decent impact on the market? I realise stocks are more fundamentally driven but let's say my fundamentals tell me to go long (ie the word on the street) and then i see a trendline break on the dailys, would this be a good idea to go long for example?
Hope someone can answer these newbie questions, i really hope stock trading is something i can do. Thanks guys
Looks like a really nice forum here so i decided to join. I'm relatively new to investing but i have dabbled a bit in Forex and traded that for a couple of years. I do have some questions which i hope someone can answer for me so here goes.
1) How do i view live charts? I know in Forex with it being a 24 hour market you can view them pretty much anywhere but i've been struggling to find streaming candlestick charts of stocks. I went to freestockcharts dot com but for some reason i don't see the price tick like i do in forex, even though the market should be open right now (it's 9.45am UK time) I believe the market opens at 8am?
2) When trading forex in the past i have been advised to always use a risk reward ratio of 2/1 so for every $100 i was risking i'd be wanting to make $200. How would this work in stocks? For instance, if i was to buy two shares in Facebook worth $50 each (i know they're cheaper than this now but let's just go with it) for $100 i'd be risking $100 right? so for a 2/1 risk reward i'd be wanting to make $200 but wouldn't this take forever to achieve? The each share would have to go from $50 to $100 and if you're a trader/investor who only holds for lets say a couple of weeks how would you do this?
I hope the second question isn't too confusing.
3) The final question is can i bring my technical analysis studies into the stock market which i learned from Forex? I learned alot about support, candlesticks and trendlines. Do these have a decent impact on the market? I realise stocks are more fundamentally driven but let's say my fundamentals tell me to go long (ie the word on the street) and then i see a trendline break on the dailys, would this be a good idea to go long for example?
Hope someone can answer these newbie questions, i really hope stock trading is something i can do. Thanks guys