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ONLINE TRADING (INCLUDING SPREAD) ACCOUNTS - All Queries Here Please

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Comments

  • #92
    Noel 006
    Closed Accounts Posts: 29 ✭Noel 006


    knockostia - I understand where you are coming from and well done on making money today. Of course macro economic factors push markets around, however I'm talking about entries, exits and stop losses. If you are basing your trades purely on macro/fundamentals then where do you place these. I too am short oil (cl not brent) on the futures, however I wouldn't even think of entering short at these levels. It's like selling your house today, could it/will it go lower? probably yes, but why wait for such a big drop before you sell? Your profit potential is diminishing and your risk is way up!


  • #93
    waken
    Registered Users, Registered Users 2 Posts: 33 ✭waken


    knocokstasia
    I agree with Noel, spreadbetting on fundamentals only may not be a great strategy for the long term. Have you tried looking at the technicals ie recent support and resistance levels, trend lines, open and close levels etc. also if you are spreadbetting you need to have a good money management system in place for risk/reward ratios.
    Its always great to have a big win but losses are inevitable at some time and you want to make sure they dont wipe out your account

    Waken


  • #94
    knockostia
    Closed Accounts Posts: 63 ✭✭knockostia


    I take a daily approach. Looking at what I expect oil to do each day then trading around it. Maybe just opening positions for 10, 20 or 2 minutes.

    I started with 1,000 now have 1,306 after one day.

    If i see myself losing 200, without any significant upswing i would close my position.

    I don't see how my account can get cleaned if I am constanly monitoring it.

    Oil tends to go up and down a lot,and is a little predictable with peaks and troughs.

    How can my account be cleaned out?


  • #95
    Noel 006
    Closed Accounts Posts: 29 ✭Noel 006


    Without knowing all the details I am going to make some assumptions so feel free to correct me if I am wrong. 30% return on your account in one day is excellent, however, in a previous post you said you made €200 on one trade. Your last post you said if you see yourself loosing €200 you will get out. To me that is a 1:1 risk to reward ratio. If you are risking €200 on a trade you should be looking for at least €600 reward. A proper r/r ratio is a basic rule in trading! Also you risked €200 on a €1000 account. That's 20% on one trade, five in a row ( which can easily happen even to good traders ) and your gone! Anyway, best of luck with it!


  • #96
    waken
    Registered Users, Registered Users 2 Posts: 33 ✭waken


    Came across this site today called "myfxbook". Its a site that allows you to compare your forex strategy results with others. Has anyone used this site, I was wondering if it's kosher or dodgy.

    Waken


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  • #97
    knockostia
    Closed Accounts Posts: 63 ✭✭knockostia


    knockostia wrote: »
    In relation to spread betting.

    If opening a short position on brent crude to fall this morning-afternoon.

    Who in their right mind would be acting as counterparty?????????

    Is oil a good commodity to spread bet on?

    Its quite volatile

    but if one maintains a postion on what one expects to happen on opening--based on macroeconomic/industry specific factors then one should be able to exit on upswing and sit tight on down swings


    I don't think it will be long before its under $100 a barrel

    its been plummeting todAy



    oil is now trading @ 99.62


  • #98
    m7 golf
    Closed Accounts Posts: 6 ✭m7 golf


    Hello All,

    I can see from the threads here that most of you are very experienced traders. I'd appreciate if some of you would take the time to give me some advise.

    I am considering getting started in trading (zero knowledge) and I'm investigating as to whether to do a course or not with the IIFT (http://www.iift.ie/) formerly known as Wolfgang.
    The Course is 'Diploma in financial trading'

    Here's where I'm at:

    - Is it possible to make a living out of financial trading i.e make 3k to 5k per mth?
    - If so, How much capital do I need to have such an income?
    - How many mths/yrs of experience would it take to get to this level?
    - How much time per day would be required - and what are the key times during the day that I would need to be trading?
    - Has anyone done this course or one similar and if so how are you getting on since i.e making money/broke?

    As you can see I really am starting from 'zero' in terms of knowledge. I would be interested in learning how to trade and doing it full time if I can make a living from it, but I'm not interested in spending a few thousand to learn about something that ends up being a 'little/no earner'.

    I have a young family and will be made redundant from my current job in 1 to 1.5 yrs and want to start planning for the future. If I could make a living trading from home it would be great as I would also be able to spend more time with my family but my key concern is that this trading will be a waste of money and time rather than a way of living and that I might be better of focusing on something else!!

    I'd really appreciate any advise !! Thanks!!!


  • #99
    Maps2011
    Registered Users, Registered Users 2 Posts: 75 ✭✭Maps2011


    Hi guys,

    Straight to point: How to minimise TD Waterhouse share trading charges.


  • #100
    theone
    Registered Users, Registered Users 2 Posts: 362 ✭✭theone


    m7 golf wrote: »
    Hello All,

    I can see from the threads here that most of you are very experienced traders. I'd appreciate if

    some of you would take the time to give me some advise.

    I am considering getting started in trading (zero knowledge) and I'm investigating as to whether

    to do a course or not with the IIFT (http://www.iift.ie/) formerly known as Wolfgang.
    The Course is 'Diploma in financial trading'

    Here's where I'm at:

    - Is it possible to make a living out of financial trading i.e make 3k to 5k per mth?
    - If so, How much capital do I need to have such an income?
    - How many mths/yrs of experience would it take to get to this level?
    - How much time per day would be required - and what are the key times during the day that I would need to be trading?
    - Has anyone done this course or one similar and if so how are you getting on since i.e making

    money/broke?

    As you can see I really am starting from 'zero' in terms of knowledge. I would be interested in

    learning how to trade and doing it full time if I can make a living from it, but I'm not interested in spending a few thousand to learn about something that ends up being a 'little/no earner'.

    I have a young family and will be made redundant from my current job in 1 to 1.5 yrs and want to start planning for the future. If I could make a living trading from home it would be great as I would also be able to spend more time with my family but my key concern is that this trading will be a waste of money and time rather than a way of living and that I might be better of focusing on something else!!

    I'd really appreciate any advise !! Thanks!!!

    I'm like yourself I'm only starting as well but I'm a little bit further on then yourself.

    I opened a live a/c a month ago my initial stake was small so I started off with spreadtrading.Open a live a/c asap with money you don't mind losing you learn an awful lot more from a live a/c than a demo one.I did a good bit of reading before I started, learn about stop losses,risk reward ratios etc. (money management is key)
    - Is it possible to make a living out of financial trading i.e make 3k to 5k per mth?
    - If so, How much capital do I need to have such an income?
    Of course it's possible but then again everything is :)
    It depends what sort of lifestyle you want a conservative estimate would be 5k a month.

    - How many mths/yrs of experience would it take to get to this level?

    Thats a hard question to answer for myself I pick up things quickly and I'm a very ambitous person,my expectations might be different to yours.I can't answer it for you it depends on your own personality and drive another key area is psychology(how you deal with losing runs etc) one key thing is when a trade goes against you it's your fault and nobody else's.

    - How much time per day would be required - and what are the key times during the day that I would need to be trading?

    Depends on what your trading and what suits your lifestyle.Forex fits in great with me as london is the main market and their time is the same as ours,but that suits me it mightn't suit yourself ,trading is such a huge area no matter how smart you think you are the market is always one step ahead, it's very important to have an edge(like a casino).I don't think scalping(form of day trading) is for you,I don't think you want to be glued to a screen all day especially with a young family.

    - Has anyone done this course or one similar and if so how are you getting on since i.e making money/broke?

    not one for course's theres allot of sharks out there that will only be too happy to take your money. I did one course but it specialised in forex so drop me a pm and I'll send you the address(don't want to be banned for advertising :)
    I'll send you a link to some of the books I read,forums I frequent as well if you want them.
    There forex biased but the principles can be applied across the board.


  • #101
    Aran Galactico
    Closed Accounts Posts: 10 ✭Aran Galactico


    Looking to purchase a number of shares and have my eye on a couple of companies on the NYSE and the FTSE. My question is, is it possible to set up an online account that I can buy shares on both these platforms? From what I can see, Scottrade/eTrade etc are focused on US stocks whereby Sharewatch and a few others look at UK/Ireland? Would I need to set up two accounts to buy Kerry Group and 3M stock for instance?

    As a side, can someone tell me the main dfference to buying the same shares on the FTSE and the ISE, i.e Kenmare Resources are at two different prices on each exchange? Is their an advantage/disadvantage to buying on one over another?

    Thanks


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  • #102
    langball_larry
    Registered Users, Registered Users 2 Posts: 2 ✭langball_larry


    I would advise not going to IIFT - they do not practice what they preach - if you want to do the evening course and not the day course

    just read the blog there and you will see that Peter Brown is just like anyone in the herd - he is permanently wrong


  • #103
    manojkumar
    Closed Accounts Posts: 1 ✭manojkumar


    Hi All,

    I am not interested in trading, but would like to make a one time investment in BOI shares for a long time like 10 years. So, I do not really need a trading account with annual fees and all the hidden charges.

    Also, I do not want to get a paper certificate as they charge about 100 EUR for that.
    Can you guys suggest the best way to invest without the annual fee/100 EUR cost.


  • #104
    p72
    Registered Users, Registered Users 2 Posts: 8 ✭p72


    Is using Computershare for online dealing expensive and difficult, or is it a safe option for small time dealing?


  • #105
    betonit
    Registered Users, Registered Users 2 Posts: 526 ✭✭✭betonit


    whats the difference between a spreadbetting account and an account with a broker where you buy and sell the spread using leverage?


  • #106
    Icepick
    Registered Users, Registered Users 2 Posts: 2,456 ✭✭✭Icepick


    So which are the best online trading websites?

    Also, if you have an account on a US website, how do you avoid being taxed by IRS?


  • #107
    Appmatters
    Closed Accounts Posts: 1 ✭Appmatters


    Hi there,
    Has anyone ever heard of Keith Jones 'The Lazy Day Trader'?
    This works with optionbit and binary options in currency trading/

    Has anyone tried it? I would love to get some lowdown on whether to give it a go or not.
    Thanks


  • #108
    meagherphilip
    Closed Accounts Posts: 6 ✭meagherphilip


    Has anyone had a go of Intrade.com. They are a company that is very offers a predictive market. I like the site, but find that there aren't enough people on it. You can trade shares on who is going to win the US Presidential election. I read about them in Bloomberg Businessweek.

    The nice thing about it is that it is an Irish company. They trade in dollars as they're main customer base is in the US, and an account is only €4.99 a month. I have traded on the FTSE and the DJIA closing higher or lower then it's open, and with reasonable success.

    I was in contact with the company to ask them about offering more trades such as FOREX or specific stocks, but they said that they don't have the volume outside of the US to justify those trades. I would love to see more people using the site.


  • #109
    Bovriladdict
    Closed Accounts Posts: 14 ✭Bovriladdict


    One difference between spreadbetting and using a stockbroker to trade shares is the tax implication. There are also other fees built into the stockbroking model. Depends on what your interest is really. You could wreck your head about all the options to get into the markets but the main focus should be that you are approaching trading in a professional manner rather than taking a punt which is bound to fail in the long term.


  • #110
    freeze4real
    Registered Users, Registered Users 2 Posts: 2,540 ✭✭✭freeze4real


    Has anybody use IG markets ?

    A UK based broker. Shares, FX , options binary etc.


  • #111
    onestep
    Registered Users, Registered Users 2 Posts: 3 ✭onestep


    I would advise not going to IIFT - they do not practice what they preach - if you want to do the evening course and not the day course

    just read the blog there and you will see that Peter Brown is just like anyone in the herd - he is permanently wrong



    I feel compelled to reply to the above post, I completed the advanced trading course in sept 11{more about this in a later post}and was sitting near to Peter when the ECB announced the 1st LTRO ,almost immediately the euro started to rise against the dollar and naturally myself and my fellow novice traders tried to jump on the move but were told to desist by Peter, he said that the LTRO was bearish for the euro and the initial spike up in the currency was a false move to catch out the amateurs and take out stops. And right enough within 30 seconds the move reversed and the currency fell violently.He then advised us all to sell, which we duly did and made a nice profit.
    The reason i tell this story is to show that Peter is not a herd follower. he is not permanently wrong but neither is he permanently right but when he is wrong he admits it and get,s the hell out of there.
    I doubt the above poster has done the course because if he/she did they wouldn,t post comments like this


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  • #112
    Captain Bligh
    Closed Accounts Posts: 21 ✭Captain Bligh


    hi

    i have a question that has been buging me with about 2 years!

    im interested in on line tradign with about 10 years on and off. havent done any yet, still reading technical analysis books etc on and off.

    my question which is only very basic to those that are in the know

    if your chart is set to 15 min say on candle stick vol. that candle shows the high low open close. but say you switch to the 3 minute chart you see the same. now swithc to 1 min the same.

    how is the one min open closed high low arrived at. is the 15 minute candle connected to the 1 minute connected to the 3 min. simply put how is there an open etc at 1 3 5min 1 day etc etc

    if trading on the 15 min chart is the one, three, five emptying your account unknow to you.

    finally for any candle stick what is the high low open close reffering to. how did it happen (i know what high low open close means!) what humans made it happen.

    as you can see this is why it would be very dangerous for me to trade on line!!! books can only answer so much and as they are written by someone in the know(supposed to be) they often skip the really really simple stuff.

    Also im looking for a mentor/group in the south. im on my own at the minute and its like doing your college exam study on your own. get bogged down in stupid stuff and important stuff is ignored

    thanks in advance


  • #113
    Xios
    Registered Users, Registered Users 2 Posts: 2,073 ✭✭✭Xios


    Hey guys, i'm going to have €2000 at the end of the summer, i can afford to lose it. I was looking to try my chances in the penny stocks.

    Assuming i go ahead with penny stocks, what are good trading platforms to use from ireland? Currently i have 2 bank accounts in ireland, one with AIB and one wih Permanent TSB (could be relevant).

    Is there a list of the platforms i can use from this country?
    http://www.globalreachmarkets.ie/ This is the first one i found, what are the important details i'll be looking for in a trading platform, such as fees or reliability. I would however like a platform that offers virtual money, so i can become familiar with it over the summer before putting in real cash.

    I will be studying the subject over the summer and testing out a bunch of standard techniques.


  • #114
    Xios
    Registered Users, Registered Users 2 Posts: 2,073 ✭✭✭Xios


    Nevermind, did a search on the forum.

    Here is a thread if anyone is asking the same question. link

    I would suggest avoiding the low post accounts, they look sketchy. FXCM seems legit to me.


  • #115
    TaxPro
    Registered Users, Registered Users 2 Posts: 33 ✭TaxPro


    There's a potential upcoming rights issue for a plc which I own shares in through DeGiro. If the rights issue is approved by shareholders, does anyone know how to exercise your rights as a shareholder? Do I receive communication of my options from DeGiro?


  • #116
    Snake Plisken
    Registered Users, Registered Users 2 Posts: 13,970 ✭✭✭✭Snake Plisken


    Hope this is the right thread. I have a US Computershare account and I am just updating my banking details. When I select Ireland it automatically selects Euros as the currency. Should I leave it in Dollars and take my banks Exchange rate (Ulster bank) or let Computershare use their exchange rate? Just looking for advice.


  • #117
    JMMCapital
    Registered Users, Registered Users 2 Posts: 373 ✭✭JMMCapital


    Which is the best current broker around for options trading? IB?


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