Trader's Den

[TheSyndicate]

As promised, I have now officially started a trading thread. Better late than never, right?

Before I get into details about strategies and specific details I want to lay down the rules.

1) There are no stupid questions. If you have a question, ask it. Chances are, there are 20 other people with the same question.

That's it!

Let's begin.

 

[matt1164]

Cool idea

I'm an institutional sales trader and ex nasdaq market maker. Ill be following this thread. I read some of your other posts about currency trading. Is this thread about trading all asset classes or just currencies?

 

[TheSyndicate]

Before I get into specific details about trading strategies we must first look at money management and risk. Google is your friend. Do not even attempt a trade until you fully understand money management and risk. If you all want, I'll paste some helpful links. "Trading money management" in Google yields 44.2 million hits at last count.

Ok, how many of you have ever seen a trading chart that looks like this pic I uploaded? How can anyone make a decision when you have all these variables to consider? How does this happen? Well, this is the trader's equivalent of terminal cancer. You just have to start over once you see yourself get to this point.

Just like in any other business, you're going to have losses in trading. It happens, it's inevitable, deal with it. The natural reaction we have to these losses is to simply add another piece of data to [hopefully] increase the odds in our favor for the next trade/transaction. These are called indicators in the trading world and indicators are nothing more than a lagging calculation/observation of price. This is a death spiral that never ends well.

 

[TheSyndicate]

Cool idea

I'm an institutional sales trader and ex nasdaq market maker. Ill be following this thread. I read some of your other posts about currency trading. Is this thread about trading all asset classes or just currencies?

Any asset class, but mostly currencies, commodities and index futures.

 

[TheSyndicate]

I will only use live market set ups for this thread for authenticity. I will go over much more as I post live charts.

 

[Nssca]

How much Money (Minimum) to start... for those who like millions of people live pay check to pay check.