Saying hello and looking for a few answers.

[ecou]

Hello, I'm new to the forum and IG.

First time as part of an online trading community. I'm in the process of training myself to be a full time day trader. I'm currently full time employed in the design and construction industry and a Dad of 2 kids. The endless unpaid overtime and unrealistic demands of clients is taking its toll and I want to change to something that fits better around family life and life in general. 

I've taken a couple of online courses, watched countless hours of chart analysis videos, read many books such as by Andrew Aziz, Dr. Elder to name a few. I've been using simulator accounts with Trading 212 and NAGA with mixed results but I'm keen to start taking it to the next level. I would be keen to have an accountability buddy or mentor to help keep things moving forward. I'm UK based in the East Midlands. I obviously don't expect people to jump at this as I've been a mentor in my current profession and I know it can be demanding but I'm not looking for something that involved, just someone with a bit more experience to bounce ideas off. 

Couple of questions, mainly for Day Traders:

1. What brokers do you use. 

2. Do you use a scanner/screener? Which one and typical settings?

3. Any books/courses do you recommend? 

 

 

 

[Caseynotes]

15 minutes ago, ecou said:

Hello, I'm new to the forum and IG.

First time as part of an online trading community. I'm in the process of training myself to be a full time day trader. I'm currently full time employed in the design and construction industry and a Dad of 2 kids. The endless unpaid overtime and unrealistic demands of clients is taking its toll and I want to change to something that fits better around family life and life in general. 

I've taken a couple of online courses, watched countless hours of chart analysis videos, read many books such as by Andrew Aziz, Dr. Elder to name a few. I've been using simulator accounts with Trading 212 and NAGA with mixed results but I'm keen to start taking it to the next level. I would be keen to have an accountability buddy or mentor to help keep things moving forward. I'm UK based in the East Midlands. I obviously don't expect people to jump at this as I've been a mentor in my current profession and I know it can be demanding but I'm not looking for something that involved, just someone with a bit more experience to bounce ideas off. 

Couple of questions, mainly for Day Traders:

1. What brokers do you use. 

2. Do you use a scanner/screener? Which one and typical settings?

3. Any books/courses do you recommend? 

 

 

 

Hi, you are free to bounce ideas around here on the forum, just start up a thread or 2 and ask away and see what happens.

Most on here will be using IG as one of their brokers and probably their main broker, they are considered safe and reliable, their business model means they are unlikely to crash though may not be the cheapest around.

You first probably want to get familiar with particular market types eg indices or FX or commodities, they are all a bit different so pick 1 and get to know it.

Same for trading strategies, first off pick 1 and get to know it. 

I wouldn't start trying to learn too much from expensive courses until perhaps you have decided on a particular track. First consider different strategies and home in on what best suits.

Don't try to go live until you have reasonable confidence of a system on demo.

I can post a couple of videos on particular examples of trade strategies that can work if applied carefully if it might help, if you already have one then tell us how it's going.

 

[MongiIG]

52 minutes ago, ecou said:

Hello, I'm new to the forum and IG.

First time as part of an online trading community. I'm in the process of training myself to be a full time day trader. I'm currently full time employed in the design and construction industry and a Dad of 2 kids. The endless unpaid overtime and unrealistic demands of clients is taking its toll and I want to change to something that fits better around family life and life in general. 

I've taken a couple of online courses, watched countless hours of chart analysis videos, read many books such as by Andrew Aziz, Dr. Elder to name a few. I've been using simulator accounts with Trading 212 and NAGA with mixed results but I'm keen to start taking it to the next level. I would be keen to have an accountability buddy or mentor to help keep things moving forward. I'm UK based in the East Midlands. I obviously don't expect people to jump at this as I've been a mentor in my current profession and I know it can be demanding but I'm not looking for something that involved, just someone with a bit more experience to bounce ideas off. 

Couple of questions, mainly for Day Traders:

1. What brokers do you use. 

2. Do you use a scanner/screener? Which one and typical settings?

3. Any books/courses do you recommend? 

 

 

 

Hi @ecou

Welcome to the IG community.

What type of trader are you? Are you a day trader yourself or Scalper, swing trader, position trader, algorithmic trader or event-driven trader ?

What markets are you mostly interested in trading, commodities, forex, shares or indices ?

If you don't mind, please share your routine when it comes to your trading analysis.

 

All the best - MongiIG

[ecou]

thanks for the replies. 

I've been taking a look at IG trading platform in DEMO and I have to say it seems to be the best I've used. NAGA and T212 were unreliable and unresponsive. 

I've been looking mainly at Bitcoin and US Crude for now due to the trading hours fitting around my normal working life. I did a bit of Forex to begin with but I'm a bit out of touch with that lately. 

I'm mainly a day trader, mainly using a reversal or breakout strategy on a 1 to 5 min timeframe using RSI, MACD, Moving Averages, VWAP and Fibonacci's as my main tools.

I'm intending to look at Swing Trading at some point as well but want to get my day trading skills developed first. 

[Caseynotes]

19 hours ago, ecou said:

thanks for the replies. 

I've been taking a look at IG trading platform in DEMO and I have to say it seems to be the best I've used. NAGA and T212 were unreliable and unresponsive. 

I've been looking mainly at Bitcoin and US Crude for now due to the trading hours fitting around my normal working life. I did a bit of Forex to begin with but I'm a bit out of touch with that lately. 

I'm mainly a day trader, mainly using a reversal or breakout strategy on a 1 to 5 min timeframe using RSI, MACD, Moving Averages, VWAP and Fibonacci's as my main tools.

I'm intending to look at Swing Trading at some point as well but want to get my day trading skills developed first. 

Ok, many find BTC difficult to trade due to the Whales and social media organised pump and dumps hitting the market without warning, commods and indicies have good volatility with less of the sudden shock waves.

Given the constraints of the full time job and looking to learn day trading consider a simulator rather than a demo platform, there are a couple of issues against it but they can speed up the learning process and do forward  testing of strategies easily. You can cover several weeks of simulated trading in a couple of hours on the weekend. Against is the outlay of a hundred dollars for the life long key and updates and you would need to learn the mt4 platform but that could be covered in a 1 hour youtube video. Worth thinking about.

[ecou]

Thanks,  first introduction to trading was via crypto so I've done OK with BTC as I'm somewhat familiar with how it moves. Thanks for the tips, I'll check out MT4.

Do you do simulated trading still to test new strategies etc? Do you use IG for this?