Monday, June 28, 2010

S&P500 day trading course trading on the simulator.

How To use the simulator before I trade live. I would like to mention to you about the playing phase on the simulator and the business phase of using the simulator. The playing phase on the simulator is the first few days of getting used to the buttons and seeing interesting things on the simulator. Seeing something, "trying something" or just trading on a gut feeling.  During the germination phase of trading this is when we are experimenting with out a purpose.  My recommendation to you is to limit this period to 2 to maybe 3 days. The Business part of the simulator is when you decide that you are going to make the move to trade and stop playing around. Remember Trading is a high risk business, and being your own boss, set your standard for how you show up to work. If you have to, fire yourself. Take trades on the simulator as if you are trading cash. Other wise there is no meaning. "I would not do that if it was for cash" , is an irresponsible way to trade. Stop taking those types of trades immediately. Always practice with purpose, be intent on learning more and more from your trades about how you can make money. Trading on the simulator is for you to refine your entries, see more and more nuances to get the competency of Mastery. It is your choice but I recommend to you to play with something else, not the simulator. If you are looking for fun it might be better to get an x-box. I will mention to you again, do your business plans. Quantify your trading. Always manage your risk Save your trades to review. ASK for direction when you feel lost. Be patient with your self. Remember that this is a high risk business and your first steps are to train your self to take the money when you see it and survive to make more trades.

S&P 500 day trading course

Forex day trading news EURUSD, USDJPY

Forex day trading news EURUSD, USDJPY Earlier in the morning we had the MoM retail trade figure from Japan which was weaker at -2.0% versus an expected 0.1%. Large retailers' sales were also significantly weaker at -4.0% versus an expected -2.9%. With a very light economic calender for the day, investors focus will be towards the Euro-Zone M3 reading due after European equity markets open followed by Personal income and personal spending from the US. Asian markets opened this morning in the red as the recently concluded G20 meetings fell well short of investors' expectation that the global economic recovery was gaining momentum. The weakness in investor sentiment was more reflective in the Asian equity sector, with the Nikkei down half a percent at 9689.68 and the Shanghai composite down 0.53 percent at 2538.84 at the time of writing. Some highlights from the recently concluded meetings included initiatives for banks to have higher capital requirements as leaders pressed for banks to increase their respective common equity as a percentage of their Tier 1 capital to allow a cushion in case of another shock. Although plans were in place to maintain existing stimulus measures, the recovery was still termed 'uneven and fragile.' Perhaps the markets expected more from the recently concluded meetings, but the lack of inspiration was reflective in the currency markets which were largely flat at the time of writing; USDJPY was marginally higher at 89.41 and AUDUSD was trading at 0.8753.

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