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[align=center]http://www.karmabanque.com/[/align]
[align=left]Its brilliant, combining an anti capitalist flavor to the highs and lows of the stock market... these guys are boycotting companies and making money off the fall in their stocks. Surprised its legal and hasn't been closed down yet, seems to be working... I think the latest one is Coke. [/align]

Lol. Yeah. I'm still laughing. Its the concept man its ace. Coke is way too large really even if thousands stopped drinking the stuff it'd need to last considering how little they'd drink normally.

Guess part of it is to 'screw up' big companies but if they took aim at smaller ones maybe they could kick up a few bulls and bears here and there.

Haven't had the time to check them out really, they need promoting... more members.

What are you trading on at the moment Le Moore? I'm supposed to be studying all this but I've been busy recently... would be cool to hear a success story or two from a seasoned pro.

Hardly a seasoned pro.

I trade Dow and FTSE futures indices and individual FTSE100 stocks. Recently for the first time traded a Bull/Bear fixed odd currency trade on GBP/Japanese and EUR/Swedish Kroner on the say so of a respected traders subscription service. They both won which was good as i havent much knowledge around currency.

Looking for new markets though. Bacsically i'll trade anything short term if the chart looks good.

Would you reccomend taking a course in Options?

To be honest what attracts me to it is that you can be anywhere with the internet and still trade but I'm not sure about it for quite a few reasons, might just be me being lazy or me being a rebel and thus being self defeating, happens quite a bit.

Was hoping you were a pro, noticed you mention a few trading sites in another topic. What do you think of it in general? If I was tostart upI'd think about starting a trading group and teaching other people about it. A friend of my moms does that and is doing well. All options though, not stock.

I'm 'with' these guys;

http://www.optionetics.com/

http://www.optionsxpress.com/

Sorry to ask so much but what do you think of those programs you can get? Thats the way I'd go after learning about it.

Rebel-Lion wrote:

@Le Moore ah you dat..GWan...Join the club..But what I can't understand is how come you have not already familiarised yourself with fundamental analysis and working out P/E ratios and reading company balance sheets etc..

You one of these brave cats who just jump in and take it from there...Understand your reliance on daily forcasts and charting etc but you need to focus on the basics as well.

I agree though investing is a wicked tool for a number of reasons in weakening your reliance on others and increasing your own wealth or security blanket...Every astute black person should be doing it and made mandatory.

Peace.

FB

I think quite a few of us are picking up on it... my moms friend is great she only does business with other black people there are some people on Ligali who waffle on about it quite a bit as well. Definatly worth joining one of those trading groups with a good portfolio...are you into it at allFB?

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Programs- do you mean trading software which predict movements?. If it is ive never used one and think the majority of them are suspcious.

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Yeah those things, I like the sound of them, some are quite good and can be expencive. I'd at least give them a try, to be honest I've got the course books in my room but I haven't touched them yetbeentoo busy to take it in and get to grips with it.The programs appeal to my snazzy side, nothing beats having a mini laptop and trading on an over ground train or on holiday its got that freedom factor, other businesses would involve being around a certain type of people I'm not sure I like.

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Matching up your own readings to the program is a good one as well, not that I know much about it all.

I like the sound of short term trading... ?Day trading? Nothing wrong with holding stocks in a few companies though I guess .lol. I'm a bit, ''street'' in mentality, looking to rake it in asap and spend the rest of my days on a beach with a laptop pressing buttons. Decided a long time ago that the best way for me to get what I want is to be self employed like my pops so I've been looking into Options trading (stock market is too scary) and Import and Export which is something I've alays wanted to get into... You know those mini bikes flying around Estates in London???... I had the drop on those AGES ago, trust me. Me and a Turkish 'friend'were all over the mini bikes industry well before the mini replicas were hyped but we caught onto these Mini Harley davidsons....

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Real ones though, that ones not the right model...

[align=left]As well as the mini replicas and these other mini custom versions they've got in the US... oddcool looking minibikes but I was too young really that and he tried to rip me off I could get the bikes in cheaper than he could but he had me on transport cause he owned a moving company. Bstard. Was even offered sole distributorship of a certain make but thats dodgy stuff with custom bikes. [/align]
[align=left]How long did it take for you to pick up Futures trading? Guess you can never stop learing really but the fundamentals? [/align]
[align=left]Do you think its worth getting into like FB said?[/align]
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@ Sir Fred yes you're right, its an area to know. Its one of those things i keep meaning to do but haven’t got round to as of yet. Made a start recently by reading a book on Warren Buffet's strategies and i swear although i like investing, that book was so boring it could have made reading an entiretelephone directory sound appealing.

The way i see it Sir Fred is that you if you can break your investments down into different sections then you have a stronger portfolio. For example, hundreds of people are saying that they will no longer invest in a pension. The recent bad press and poor fund performances, have lead them to conclude, that its no longer a viable option to use as an investment vehicle for retirement. Instead they say they will buy a property, rent it out, and use this as an investment for their retirement. That’s fine, but a much better strategy in my opinion is to have both investments. The property market, although very assured, is not a guaranteed investment as we know from the property crashes in the late eighties/early nineties. So if there was a repeat of this crash just before your retirement you would still have a pension propping up your portfolio. This is just one basic reason amongst many, why spreading your risk is a good idea. The old 'eggs in one basket' cliché is one of my favourites, hence Spread Trading and 'Buying and Holding' can only strengthen my position amongst my total stock market exposure.

@ Rebel Lion, in the share trading game there are all sorts of people/companies who will appeal to our GREEDY natures and kid us that there is an easy way to success.

Amongst the many frauds i would hazard a guess that some are reliable even if not 100% so. I looked into one called Omnitrader as i respect the originators style of trading and have developed my technical analysis originally from him.

http://www.nirv.com/omnitrader.asp

Be honest they are not always the easiest things to operate without a demo of some sort so bear that mind if you spend a lot of money on one. The manuals are not always that self explanatory. (Or maybe thats just me not being that techy when dealing with software).

I dont consider my style as day trading. I sometimes hold a position for several weeks although rarely longer. What i particularly love about spread trading is that i can sell short, make profit from a company or index when it is losing value.

How long did it take for you to pick up Futures trading? Guess you can never stop learing really but the fundamentals

I got involved in the Dot Com boom when everyone and their dogs were investing. I had an early hard lesson though as i had big gains followed quickly by loses 3 times aslarge. Wiped out every last dime to rass. So i kinda took a step back and paper traded for the followingfew years because a, i needed to learn and b, had no cash. Im still not a pro but (*blowson trumpet*) im profitable throughout the year which i know few can genuinely claim.

I have been watching the DOW Jones every day now for the last 7 years. I know how its moves. I can hear its movements. I can feel its movements.

Its probably not the best market to trade as there are markets with more defined trends out there. However its the DADDY amongst markets and i love it and am addicted to it.

This website is fantastic in learning how to trade this beast.

http://www.signalwatch.com/markets/markets-dow.asp

I dont actually trade it that often but have developed a style which recognises when the risk/verses reward is too inviting to pass.

Check out my most recent trade. (*polishes trumpet*)


Dow Daily Chart




I trade off of Support and Resistance lines. The above is a DOW JONES graph. (DJ is Americas top 30 companies represented as one index., like one overall average share price for them.) Where the purple line is marked is where the DOW Jones has been supported over the last few months, ie at around 10,700. This is the point investors come in and buy. You can see this as the graph troughs twice at this point and then rises. Now for some strange reason, which i find fascinating, markets do trend to a pattern over a short to medium term which you can can study and familiarise yourself with.

This support line which is at 10,700 happens to be an extremely powerful support line as it was not broken even some 7/8 months back which you can see in this following graph taken on larger timescale.

Dow Weekly Chart



Look where the bottom Purple line is? You can now see the two points which were expanded in the first graph (shorter timeframe), but also the same point (10,700)where the market was supported months before as well. This is now telling us that this is a strong/ significant point in the market, where shares are considered to cheap to drop anymore. Markets are typical. For example an electricalstore may have a TV setrange on sale but sales are slow. It then drops the price and continues to until the public decide "thats cheap enough" and the sets fly off the shelves. The TV sets hit their support levels at the price people were prepared to pay. Same thing.

Anyway how can you convert this knowledge to cash is the question? Well if you identify a good Support/Resistance line then your risk/reward becomes easy. For example with this trade. When the DOW approached 10,700 for the 3RD TIME i already had a pre order in with http://www.finspreads.comto buy the DOW. Now if the market doesnt behave then your risk is minimal as you know if it drops through 10,700 significantly then it has broken support and highly probable to now start on a new trend, that being downwards in this example. So therefore you can place your limit order (the most you're willing to lose) at around 10,650. Thats a risk of 50 points maximum. If you're trading at £1 per point thats risk of £50 maximum at £10 per point risk of £500 maximum. However looked what actually happened on this trade and what was probable to happen. (must take other factors into account which ill cover shortly).

Go back to the 1st graph and you will seethat from the point of the DOW hitting the support (10700) at the most recent time (mid July) until now, the market has rallied to the 11,380 mark. thats some 680 points. I managed to bag 300 points out of this baby thats £300 profit if you trade at £1 per point or £3000 if you trade £10 per point and so on. That was achieved in around 1 and half weeks.

Now i always confirm the support lines by always lookingat the 'Points and Figures' charts of the DOW. The 'Point and Figures' charts record true movements and cut out all the congestion you see in theconventional graphs i posted above. Take a look at the DOW P& F graph for the same period we're discussing.






The O marks downward movement and the X mark upward rallies. You can see that the support was confirmed at 10700 at the beginning of the year marked at 06. This is a very strong support line and should the market approach it again i will trade it again. The beauty of such lines is that if the market touches 10650 you can see it hasnt reached this point in over 6 mths therefore the chances are the market has turned and begun a new trend. Remember my limit order was at 10650 so a 50 pointloss. i would then start trading downwards from about 10,600 and the likelihood and probabilities say i would return that loss 3 fold on the new downward trend.

So thats my style of trading based all around charting. Goes in into more depth than this as there are other indicators and other chart patterns to consider but generally i do tend to stick to using support and resistance lines.

Rebel you're fishing for a good direction, i would say just learn as much as possible for as cheap as you can intially.Decide where you interests lie first then read, and go on free and inexpensive beginner courses. Then develop YOUR OWN style. Cant stress this enough as to many people are looking for magial formulas and they arent any. Once you do this expand upon this knowledge and venture out but maintain the foundation you originally developed. Paper trade for a long period, min 6 mths. This means simulate trading without actually doing it, before you do it for real. Even if you get a winning formula you need to start small as trading on paper and trading in the real market are two different things. Stress and pressure can make you make all sorts of wrong decesions, you need to learn how to cope. Learn about money management. Ie the best way to spread say £1000. Its better to trade that 10 times with £100 trades than to risk with two £500 trades perhaps. And above all stick to the golden rule. ONLY TRADE WITH CASH YOU CAN AFFORD TO LOSE. If you dont again emotions are likely to force you to not holding your nerve when you should etc.Learn how to cut your loses early but let you winning trades ride. Again a big lessonyou need to learn. Most traders do many losing trades but makeenough profit from theirwinning ones to compensate and make the whole experience more than worth while. Always trade with limit orders, ( an order will auto kick in to cut your losses at a certain point) therefore knowing a maximum amount you are prepared to lose.

Sounds like you got an eye for buying good stock such as the bikes. Makes sense. Sure there'll be plenty more opportunities coming your waythough. Eventually no doubt you'll go with your instincts and take up the challenge. Entrepaneurs always do.