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Thread: Taking the Next step after you Have a trading plan

  1. #1
    G'day all I have got a trading platform and program I am pleased to trade (based on chart patterns triangles double tops etc) However before I trade live I would love to know where I could learn about brokers prerequisites, and the way they work. By way of instance things like how to calculate margin requirements that neet to maintain you account with various leverages and calculating how many pips a transaction can proceed against you before your up for a margin call, and items like margin, free margin and margin levels, rollover fees, things like that. I am hoping this sentence is understandable, since you can probably tell I am still learning about that side of FX.

    Thanks for your help
    Bret.

  2. #2

  3. #3
    Thank you for your suggestion liquid4x, however I am already familliar with the money management side from reading Van Tharps trade your way to financial freedom. Cristian this is the sort of thing im talking about but I was searching for a more step by step explanation if you understand what I mean.

    I guess what im realy later and think others would also wish to know is the REALITY part of trading Foreign Exchange. Like understanding that you may be going to be charged for holding a position for more than a day from the interest differential of the two currencies your trading, and taking this into account and insuring it may fit in your trading plan with no true pain. And knowing that you have margin requirements that you need to take into consideration before determining where to put your stops etc.. All of the things which you ought to know if you realy beging trading.

    Enjoy the rest of the information on where to find out about this stuff in a little more detail.

    Thanks
    Bret.

  4. #4
    Quote Originally Posted by ;
    Thank you for your proposal liquid4x, nevertheless I am already familliar with all the cash management side from reading Van Tharps exchange your way to financial freedom. Cristian that is the type of thing im talking about but I was looking for a more step by step explanation if you know what I mean.

    I suppose what im realy after and believe others would also wish to be aware of is the REALITY component of trading Foreign Exchange. Like understanding that you might be likely to be charged for holding a position for longer than a day from the interest differential of the two currencies your trading, and taking this into account and insuring it can fit in your trading egy without being a real pain. And knowing that you have margin requirements that you must take into account before determining where to put your stops etc.. All of the things which you should be aware of when you realy beging trading.

    Enjoy the rest of the information on where to find out about the stuff in a little more detail.

    Due
    Bret.
    How about trying to demo commerce?
    I think that it's the closest... if not the best. .

    Regards,
    East

  5. #5
    Hi East, I have been demoing for a while today and realy simply dont understand 100% all of the stuff regarding margin percentages, swap charges etc.. I guess I will just check with the brokers and possibly the other investment sites such as Investopedia. Thank you again.

    Bret.

  6. #6
    Reading a cash management book may be a good idea

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