Hi there just wondering who you use to trade leveraged stocks/commoditys and even FX? What has your experience been like with this company and even if you have seen cases of stop loss hunting with market makers? Another question is who uses charting programs and what is the cost? E.G i know Profitsource is around $500 a year
From good people who are willing to share. Metastock does not have an annual fee. Truth is, I don't use Metastock much anymore. The charting facilities provided by IG markets is sufficient enough for my needs now.
Don't have time to trade intraday. I trade using the daily and 4 hourly (weekly for the big picture). For examples, see here: http://forums.silverstackers.com/topic-27970-silver-charting-and-silver-ta-chat.html and here: http://forums.silverstackers.com/topic-28957-gold-charting-and-gold-ta-chat.html
Cheers for that Also last question sorry but where did you learn your trading method from? or whats is called E.G Gann, Elliot wave, Fib
Initially learned from a very good mentor, then developed my methods through countless hours of research, self tutorial, self-awareness (psychology), and some novice mistakes (tutorial fees?). I don't use Elliot Wave or Gann, and rarely Fib. Mostly trade consolidation breakouts for better risk:reward and pay-offs.
Our son got involved in the 'Safety in the Market' thing. LOVED charts, thought they were fool proof! Would not listen. Turned $37,000 into 37c in about 4 years. OC
A lot of people tend to focus on the "charts" and the "in the market" as a winning formula, and forget about the important "safety" bit. But, tell him not to despair, a lot are getting the same sort of results with phys, and apparently that's a good thing, because it means they can stack more.
Lucky he is on just short of $200,000 a year, he can afford a hard lesson. Hope he does not need a second lesson. OC
I use http://www.tradestation.com/ for futures and charting and you can use them for FX, their charts are second to none, in my opinion. Plus you can add more useful non-correlated indicators that use trade size and volume instead of the more usual indicators, RSI, MACD, etc, etc, all of which are simply price based. The FX platform is free, the futures platform is $100/month but if you do 10 round turn contracts is free. A lot of people use TS simply for their charting requirements and use another broker to route their orders. I also use Options Express for options and stock trading. Clunky as hell but does the job. Stop hunting is common in futures, and it isn't hard to spot where amateur traders will place their stops.
