New To Stocks With Some Questions

[aeyelifurepe]

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

[afuiwipeyib]

Hey...new as well but maybe I can throw some info out.
1. freestockcharts is live. Maybe you need to switch time frame to minutes to see movement.
2. risk/reward. Don't know much about forex but I'm guessing you weren't using 100 to make 200. Maybe using 20,000 to risk 100 to make 200 is what you were doing. the same can be done with equities using risk management...stop/loss...trailing stops etc. But no... don't expect to buy a share of GOOG and expect it to double before they cure aging. One could however buy 20,000$ worth and set an OCO (order cancels order) with a stop set at 2% loss and sell set at 4% gain. Just for example.
3. I think tech analysis is awesome. I heard someone say once "Which strategy you use is not nearly as important as having one." So maybe start with what you know and see how it goes.

It helped me a lot and saved me a ton of money to use a simulator for a few months before I got very active. My favorite was thinkorswim/paper. But I'm sure there are other good ones as well.

Maybe my reply will spark some answers from the more experienced/knowledgeable.

[afojagipugja]

Thanks for the insight, since the original post i made i have read up quite a bit on risk reward. Even though i have done a Forex course in the past i feel like i need to do a stock course maybe to brush up on some things

[AgustinKasp]

I agreed with your views. It is always good to know about all the new trends and tools; and a course is good enough to do that. You are having an option to join the online courses which didn't affect your analysis as well as time. You can find them on major search engines and compare their reliabilities.

[ahiayosakqeq]

I agree with Acstudio. Simulators are great, especially the one from thinkorswim. There's many things you can apply to stocks from FX.

Private message Blaine Tarr on this forum, ask him if he can help you get started.