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singsi
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Day Trading

Postby singsi » Thu, 19 May 2011 10:39 am

Anyone currently day trading from home, either FX, CFDs, Spread betting?

Looking to get into this, any practical help and advice would be most welcome.

Thanks
Simon

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JR8
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Re: Day Trading

Postby JR8 » Thu, 19 May 2011 10:56 am

singsi wrote:Anyone currently day trading from home, either FX, CFDs, Spread betting?

Looking to get into this, any practical help and advice would be most welcome.

Thanks
Simon


If you were qualified to trade such products you wouldn't be here asking. So, best advice I can offer is not to do it.

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Re: Day Trading

Postby singsi » Thu, 19 May 2011 11:03 am

JR8 wrote:
singsi wrote:Anyone currently day trading from home, either FX, CFDs, Spread betting?

Looking to get into this, any practical help and advice would be most welcome.

Thanks
Simon


If you were qualified to trade such products you wouldn't be here asking. So, best advice I can offer is not to do it.


Thanks for the advice JR8, i have more than enough knowledge of the industry, just looking for more practical info on the trade from home aspect, e.g. platforms, free analysis, singapore or HK online acc etc. Thanks

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Postby beppi » Thu, 19 May 2011 11:04 am

I recommend you visit one of the new casinos instead - it's the same gambling but more fun and has a social component, since there are others doing the same, not just your computer at home!

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Re: Day Trading

Postby JR8 » Thu, 19 May 2011 11:21 am

singsi wrote:
JR8 wrote:
singsi wrote:Anyone currently day trading from home, either FX, CFDs, Spread betting?

Looking to get into this, any practical help and advice would be most welcome.

Thanks
Simon


If you were qualified to trade such products you wouldn't be here asking. So, best advice I can offer is not to do it.


Thanks for the advice JR8, i have more than enough knowledge of the industry, just looking for more practical info on the trade from home aspect, e.g. platforms, free analysis, singapore or HK online acc etc. Thanks


Might I ask which banks you've worked for in a trading capacity?

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Postby BillyB » Thu, 19 May 2011 11:55 am

Learn the underlying asset classes first before you venture into derivs or you're on a one way road to an empty pocket.

For platforms, have a look at e-signal, ninja trader, multicharts. Personally, I've used ninja trader for the majority of my day trading in the past and its got a good blotter, you can link your data feeds from other platforms into it i.e. Interactive brokers, and you'll find most of the basic charting stuff you need bundled with the platform.

And whatever you do, don't buy a book or go to a seminar that promises to make you a trading millionaire in 6 months!! It's complete bollocks!!

Have plenty of cash in reserve and weigh up if you are going to do this to make a living, and, if so, whether you can outperform a fixed-income product offering a 6-8% return.

Good luck though. It's a good time to day trade with all the swings across most asset classes at the moment.

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Postby JR8 » Thu, 19 May 2011 12:13 pm

The OPs question tells you they have no idea what they're getting into...

Sorry to be so candid, but I think it is for the best.

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Postby BillyB » Thu, 19 May 2011 1:58 pm

He can download some of the platforms and have a play with a virtual account to test the water.

But I agree with what you are saying. Personally, I never made sod all day trading and would avoid it like the plague unless you have a particular preference for studying charts and trends and the technicals. Far too many black swans over recent times for my liking that will shit all over you and wipe out any gains....

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Postby JR8 » Thu, 19 May 2011 3:26 pm

BillyB wrote:He can download some of the platforms and have a play with a virtual account to test the water.

But I agree with what you are saying. Personally, I never made sod all day trading and would avoid it like the plague unless you have a particular preference for studying charts and trends and the technicals. Far too many black swans over recent times for my liking that will shit all over you and wipe out any gains....


My technical analysis today is that it only takes one black swan to poo all over your flock of white ones.

Yeah 'play' with a day trading account, why not it's fun. But I'd still say for those who talk big but know little they're simply predictable lambs to the slaughter in such markets.

One of my best wife's best friends in SG teaches options trading classes. The most info I have ever managed to extract from her is that yes, she teaches options trading (and I got that with a hostile look). Don't know if this is because she is SGn and I was taking her beyond the safe conversational territory of food and shopping, or because she knows I was a spit and sawdust trader who can spot her hot-house bullshit being sold to mug-punters for S$10k a shot from 20 nautical miles.
'Do it or do not do it: You will regret both' - Kierkegaard

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Postby BillyB » Thu, 19 May 2011 4:03 pm

JR8 wrote:
BillyB wrote:He can download some of the platforms and have a play with a virtual account to test the water.

But I agree with what you are saying. Personally, I never made sod all day trading and would avoid it like the plague unless you have a particular preference for studying charts and trends and the technicals. Far too many black swans over recent times for my liking that will shit all over you and wipe out any gains....


My technical analysis today is that it only takes one black swan to poo all over your flock of white ones.

Yeah 'play' with a day trading account, why not it's fun. But I'd still say for those who talk big but know little they're simply predictable lambs to the slaughter in such markets.

One of my best wife's best friends in SG teaches options trading classes. The most info I have ever managed to extract from her is that yes, she teaches options trading (and I got that with a hostile look). Don't know if this is because she is SGn and I was taking her beyond the safe conversational territory of food and shopping, or because she knows I was a spit and sawdust trader who can spot her hot-house bullshit being sold to mug-punters for S$10k a shot from 20 nautical miles.


Ha ha!! Good money if you can get it. I hope for her pupils sake she used to work in the markets and isn't teaching parrot style from an 'options for dummies' book :x

There are far too many firms, internet brokers included, trying to cash in on the F&O's market, who knowdamn well that people will always be suckered in by the fact you can leverage on margin. They should make people using their platforms sit a basic online test before you can trade, rather than just banging some disclaimer small print at the bottom of the page.

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Postby JR8 » Thu, 19 May 2011 4:12 pm

No, she never worked in finance. Period.

She has trained as a trainer, popping out these miracle courses. Does that make you feel queezy, it does me...
'Do it or do not do it: You will regret both' - Kierkegaard

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Postby BillyB » Thu, 19 May 2011 4:26 pm

JR8 wrote:No, she never worked in finance. Period.

She has trained as a trainer, popping out these miracle courses. Does that make you feel queezy, it does me...


The blind leading the blind. Unfortunately, it's how the world is going in order to make a quick buck.

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Postby beppi » Thu, 19 May 2011 4:56 pm

I am also into Day Trading.
Last week, I was able to trade Monday in for Friday. I never liked Mondays, so having another Friday instead sounded like a good deal. However, I noticed that a lot of Friday's appeal comes from having two off-days right after, which were unfortunately not part of the deal. So now I'm looking for two more Saturdays or Sundays (doesn't matter which, public holidays also can). I am willing to give three weekdays (Tue.-Thu.) for just two off-days, so it's a opportunity for people who never have enough time.
Please PM me, any reasonable offer is welcome!

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Postby Mr Tan » Tue, 31 May 2011 1:28 pm

Oanda.sg , Fxopen (for mini account only). both are mt4 supported. hope this helps, ignore those who cant make it in the trading environment . trading is boring and requires more handwork than a norm business.

i'll share with u 2 secrets:

1)courses that tells u to rely on indicators are all BS.

2) pssss. babypips are free (same as those 10k-20k courses are teaching u and it gets u no where). babypips.com

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Postby Grumpy77 » Tue, 31 May 2011 7:23 pm

I traded full-time on my own acct for 7 years, in that time I did not meet one person that started up day-trading and survived more than a year. And I was involved in many groups online and via training sessions over that time.

In the long run I made a bit, but was undercapitalised and ended up degrading my trading acct by having to live off it.

If you don't have at least 200k, and that is the absolute minimum in my opinion, you WILL NOT MAKE IT!!!!! Starting with less will mean you'll have to gear up and the afore mentioned swans of all colours will quack your account. Having more than 200k will likely also mean failure but at least it will only be due to lack of discipline and not a lack of funds.

Better to donate your money to charity now and then just get another job, at least that way you'll have a warm and fuzzy feeling about the losses. End result will be the same.

Cheers,


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