- Joined
- 29 January 2018
- Posts
- 2
- Reactions
- 0
Hello all my name is Phillip, I'm from sunny Brisbane and this is my first post on the forum, getting to the subject at hand I'm seeking advice to get started in the markets.
I opened a margin paper trading account with the uk based brokerage trade212, their platform is browser based and seems quite good, I learned the basics such as how to calculate spread and margin, I read terminology surrounding limit orders, stop losses and risk management and I decided to learn all these fundamental aspects first to establish a firm foundation before I ventured into the part that actually indicated where to buy/sell and open my positions in the market, a.k.a. Technical analysis (CHARTING)
So I want to day trade, I want to get in on the fast action and make money learning how to trade fast I don't wish to sit around all day investing, anyway I opened a tick chart and zoomed in and noticed that to even find the patterns and breakouts described in technical analysis one has to wait quite some time for these patterns to manifest, not really fast day trading if you ask me.. that's when I discovered the depth of market/order board and read that proprietary traders use them to trade, I have a gut feeling that learning to trade from a DOM order board may be the style of trading I seek to learn.
This leaves me with three things I need advice on particularly, I need a good platform/brokerage with a good DOM order board to trade on, I want a margin account that enables live paper trading on real markets, perhaps I should look into software, I would want something that is free.
Secondly where should I start with learning how to trade from the DOM order board and where can I find good information around it?
Thirdly, I don't wish to day trade for a company my (whole) life but perhaps to learn I should try and get an internship with a proprietary trading firm? what are the pros and cons of this and do you think it's really required for a guy who can devote his full time and mind to learning for himself?
Thank you
I opened a margin paper trading account with the uk based brokerage trade212, their platform is browser based and seems quite good, I learned the basics such as how to calculate spread and margin, I read terminology surrounding limit orders, stop losses and risk management and I decided to learn all these fundamental aspects first to establish a firm foundation before I ventured into the part that actually indicated where to buy/sell and open my positions in the market, a.k.a. Technical analysis (CHARTING)
So I want to day trade, I want to get in on the fast action and make money learning how to trade fast I don't wish to sit around all day investing, anyway I opened a tick chart and zoomed in and noticed that to even find the patterns and breakouts described in technical analysis one has to wait quite some time for these patterns to manifest, not really fast day trading if you ask me.. that's when I discovered the depth of market/order board and read that proprietary traders use them to trade, I have a gut feeling that learning to trade from a DOM order board may be the style of trading I seek to learn.
This leaves me with three things I need advice on particularly, I need a good platform/brokerage with a good DOM order board to trade on, I want a margin account that enables live paper trading on real markets, perhaps I should look into software, I would want something that is free.
Secondly where should I start with learning how to trade from the DOM order board and where can I find good information around it?
Thirdly, I don't wish to day trade for a company my (whole) life but perhaps to learn I should try and get an internship with a proprietary trading firm? what are the pros and cons of this and do you think it's really required for a guy who can devote his full time and mind to learning for himself?
Thank you
