Hi all I am new to trading any advice would be helpful :0)

Quantum mechanics, you mean where objects can be in multiple places at the same time Quantum Mechanics? OK FAS, you got my attention, I'm all ears.

I think we all will have to accept basic physics principles in the market, particles in motion tend to stay in motion unless acted on by another force. The price represents something that is effected by some other forces. 'For every action there is an equal and opposite reaction' (spikes) and friction (resistance), all have the same effects on the market as we see in physics. But a quantum effect?

I was thinking about the double slit experiment where electrons was fired through two openings. When they were not being directly observed, they behaved as a wave but when observed, they behaved as a particle. When I watch my accounts and the market, it behaves poorly, but when I don't watch, the market always does well. I just had to learn how to trade without watching what I'm doing. I'm close on this one....

Bob

lol

Bob...Amen...i have the same..the more time i have to spend looking at my account the more i end up overtrading..second guessing my decisions and ruin my trade plan. If you are interested in Quantum Mechanic principles in the marketplace, the concepts op Fractal Geometry may also interest you. Check 'Benoit B. Mandelbrot : The (mis) behaviour of markets' for an in depth elaboration on the subject and a very fun and elaborate piece of history about the modern school of finance staring mr. scholes, mr Black and mr Sharpe.

C

That stuff does not work is a bunch of rubbish. gartley patterns harmonics is a bunch of crap - seriously it looks awesome in back testing and hind site. but in the real world following that subjective B.S will get you a blown trading account.... a lot of our customers tried all this stuff and had the same results. and end up coming to us for help.... we used to mentor but the stuff we now do is to complex to teach to the average joe.... it would just take to long. and most people do not want to invest the time to learn the new rules to trading and are playing with pivot and fib levels, but that's so 2003 , things have changed in the last decade.....

'Check 'Benoit B. Mandelbrot : The (mis) behaviour of markets'.

I actually own a copy of that. Not the easiest read as they tried to explain math concepts without using mathematical equations.
But they manage to get the idea across.

@FAS Harmonics do seem to exist but not within the same currency pairs. The logical reason for this is the element of time. A true harmonic would happen simultaneous or very close to the main event. However, one currency pairs movements can have several harmonic occurrence in related currencies. Certainly, I have been looking for a steady harmonic but any suspected harmonics fade in and out. Not usable.

Related would be echos. That is a little more promising but also not ready for prime time.

Bob

Better if you learn Both Technical and Fundamental so you get good result

Yes, but don't do it at the same time. It's like learning algebra and geometry at the same time. you need to learn both but if you try to do it at the same time, you will get confused.

I recommend the new investor/trader start with systemic systems (a subset of fundamental systems), as it gives a good start to successful trading while laying the foundation for the other areas such as technical.

Bob

Adam85 posted:
I am new to trading and i would really like to base my trading around 'fundamentals' if anyone can help me out with learning how to read report and news correctly that would be awesome, Also am looking to make a few friends on the trading scene i can use to bounce ideas of and ask questions and so on
thanks 😄

Nice, I'm sorry not for helping you sooner. To trade with Fundamental Analysis, I think you should use vanilla option. It's extremely good and safe for trading news because your risk is limited and your potential reward is unlimited. You don't have to use stop loss when trading.

I'm from Vietnam, I primarily use price action to trade the spot currency contract on metatrader 4. When there is a big news gonna be released, I go to the bank and buy vanilla option contract. Nice to meet you. Wish this post helpful.

Hello, everyone. I am newbie here. It's so interesting topic I wanna start with my first message. I am interested in vanilla option. Never heard about that. How does it work? Is it really to get profitable trading with this option?

'Is it really to get profitable trading with this option? '

Only if 'Option' is the name of some girl that you met at the bar.
Just kidding, its just that we are mostly forex here. But yes, if you want a full time job, you can make good money in futures but all of the Wall Street Pros are trading against you on that market. However, if you think that you're that level of good, go for it.

Bob

maxim777 posted:
Hello, everyone. I am newbie here. It's so interesting topic I wanna start with my first message. I am interested in vanilla option. Never heard about that. How does it work? Is it really to get profitable trading with this option?

I think option is best for trading the news only. You can read about option contract on investopedia.com website to have a general knowledge about this trading instrument. I primarily use the cover call strategy to reduce the risk when trading spot forex.
However, the premium is a little bit high when you trade with the bank and the bank doesn't offer an instant execution system. When I find a good opportunity, I have to call to my personal manager in the bank, then, they call to the Financial Institutional Division to make a contract. The period often lasts about from 2 - 5 min. So you won't have the best price that you want. It's my experience with vietnamese bank. I don't know if there is any differences in another banking system.

Thank you.

Hi Phú,

I would recommend you to get some literature first to figure out what trading styles, markets and instruments fits your personality best. I would strongly discourage you to start trading options cold turkey. If i may recommend a few books that will aid in your quest:

* All the market wizard books by Jack Schwager: Great for getting a feel with all the different approaches. I especially like Hedge Fund Market Wizards for its contemporary relevance.

* Trade your way to Financial Freedom by Van K Tharp. Great for the psychological aspect of Trading.

* Technical Analysis by Kirkpatrick and Dahlquist. John J. Murphy's book is also very interesting, but a bit outdated.

* The Black Swan by Nassim Nicholas taleb. Not directly a trading book, but very insignfull for navigating in the uncharted domain of the unknown.

Happy reading and happy trading :-)

Hey, How about 'Robotic Investing', by Bob LLewellyn?

😄

Bob

chalieman posted:
Hi Phú,

I would recommend you to get some literature first to figure out what trading styles, markets and instruments fits your personality best. I would strongly discourage you to start trading options cold turkey. If i may recommend a few books that will aid in your quest:

* All the market wizard books by Jack Schwager: Great for getting a feel with all the different approaches. I especially like Hedge Fund Market Wizards for its contemporary relevance.

* Trade your way to Financial Freedom by Van K Tharp. Great for the psychological aspect of Trading.

* Technical Analysis by Kirkpatrick and Dahlquist. John J. Murphy's book is also very interesting, but a bit outdated.

* The Black Swan by Nassim Nicholas taleb. Not directly a trading book, but very insignfull for navigating in the uncharted domain of the unknown.

Happy reading and happy trading :-)

Thank you for your recommendation,

By the way, I'm not a newbie in option trading :)), I think you misunderstood, I just want to help the thread starter find a safe path to trade profitably.

Thank you,

vothienphu93 posted:

chalieman posted:
Hi Phú,

I would recommend you to get some literature first to figure out what trading styles, markets and instruments fits your personality best. I would strongly discourage you to start trading options cold turkey. If i may recommend a few books that will aid in your quest:

* All the market wizard books by Jack Schwager: Great for getting a feel with all the different approaches. I especially like Hedge Fund Market Wizards for its contemporary relevance.

* Trade your way to Financial Freedom by Van K Tharp. Great for the psychological aspect of Trading.

* Technical Analysis by Kirkpatrick and Dahlquist. John J. Murphy's book is also very interesting, but a bit outdated.

* The Black Swan by Nassim Nicholas taleb. Not directly a trading book, but very insignfull for navigating in the uncharted domain of the unknown.

Happy reading and happy trading :-)

Thank you for your recommendation,

By the way, I'm not a newbie in option trading :)), I think you misunderstood, I just want to help the thread starter find a safe path to trade profitably.

Thank you,

Yes i figured that after i pressed the'send'button :-) What kinda options do you trade? I have also been thinking about adding Options Trading into my repetoire once i properly master these futures..

I trade the vanilla option. I primarily buy a naked call or a naked put option to trade the news. Sometimes, I use the covered call option to reduce the risk. Thanks.

Oh... too rich for my blood, about the only way I would trade naked is to sit at my desk with no cloths on.

Bob

ForexAssistant posted:
Oh... too rich for my blood, about the only way I would trade naked is to sit at my desk with no cloths on.

Bob

Bob Lol

:-)

ForexAssistant posted:
Oh... too rich for my blood, about the only way I would trade naked is to sit at my desk with no cloths on.

Bob

Best way))
Adam welcome to forex trading club:)