beginners questions

[daniil]

Hi everybody!
i am very happy i found this forum and the Pirates
i still have some questions:

1. my time is GMT+10, so for me better to start with BUYZONE for tokyo open JPY, for london open GBP, right? it will be 00:30 at my side to make AAPL juice...
2.i can use any of the quoting software (NT,TS,eSig,Ninja) - the only i need is to plot some horizontal lines for BUYZONE, right?
3. what software do you recommend now? NeoTicker?
4. why i must plot 2 lines at .0003 and .0004 for BUYZONE? why there will be not enough to plot .0003 line only and trade when price crosses it?
5. immidiately after market open i must place limit order in BUYZONE/SELLZONE depending of hour candle/minute candle, right? i suppose the price action can be fast enough to place limit order at the time price in BUYSELL zone.

Hope you PIRATES will help me
P.S. what time in GMT terms do the paltak 2% club starts?

BRGDS, Dan

[daniil]

in addition:

-must i enter the position with limit order and close it manually after reaching 5 pips or

-is it better to use limit+TTO order with 5 pips profit? and ??pips SL?

BRGDS,
Dan

[scalperT]

I don't trade forex, just AAPL for now. I personally wait until the price actually touches the buy or sell zone before placing any limit order, otherwise you will be filled before the buy zone on a limit order, placed at the open. If you are able to use stop orders, you can place them at the open I suppose, if that is what you prefer to do.

As for the two lines representing the buy zone, I always wondered about that myself. I really only use the first zone line.

Unless the set up comes up through the buy zone, or down through the sell zone, I don't take the trade. I don't take trades in the middle of the buy zone, only trades blasting through the first lines, long or short.

Perhaps someone else knows what the second zone line represents?

Every answer you might want is here, you just have to use the "search" function. Don't know about the second line though. I just use it as Avery said to use it. It works fine.

[daniil]

tjmxx! sorry i do not know your real name.

i understand that i can find everything here, but...

1. what platform to choose for newbie? NT? that question is because i see the posts like todays' Belgium Pissing Boy about TS

2. i am afraid that even focusing on one instrument only (AAPL, cable...) the newbie maybe not fast enough to pull the trigger with limit order. and Avery says he uses limit orders..., mental stops...
so for the newbie is it better to begin with STOP+TTO orders? i understand that i can miss some millipips but i will be fast enough for the first time trades.

BRGDS, Dan

[Patch]

Hi Dan

Welcome to Kreslick.com

Your daughter is beautiful and has a wonderful smile. What is her name?

You question about platform is a really good one. Speaking of Apple, years ago I researched computers and decided by far, apple was the superior product, though the business world uses PCs with a lousy operation system, Windows 3.1 back then. But if I needed help and questions answered, lots of people were familiar with Microsoft products.

TS has a lot of faults, is not the best platform, if you have read the treads, they do a lot of really p*** you off stuff, but a ton of people here on Kreslik and TRO ust TS in spite of everything, go figure. I would say see what TRO says, join the statue guy, and many others, and hook up with TS. Sometimes it means TradeStation, and sometimes other things.

My understanding is the NeoTicker is a fabulous trading package. It is not particularly newbie friendly. If you want to trade, go with TS. Make money trading, and move gradually over to NeoTicker.

Patch the Pirate
In VA

[scalperT]

Dan,

You can use almost any direct access platform. Even a very basic one will allow you to plot lines for the buy zone. I do not use Tradestation and I don't see why anyone who scalps would pay $8.00 per 1000 shares. I pay about $3.00 per 1000, but that's just me.

I do not use Neoticker and don't know anyone who does. I am not a programmer, so unless TRO adopts Neoticker and writes all the code, I don't see why I would. I would never figure it out. Nor do I want to. I trade and do not have time for poindexter pursuits.

I guess with Tradestation, if you make the required amount of monthly trades, you get the charting platform for free, so perhaps it all evens out. I pay for my charting, but have very low commissions.

I would use limit orders just like TRO stated, that is what I do. Things do move very fast at the open. I wait for the opening price, see which way it is moving, and immediately fill in my level II order box with my limit order. When the price hits the zone, I just hit buy.

Perhaps just start with 100 shares untill you can consistently make money.
Avery lists plenty of other cows besides AAPL, some of which move a bit slower. You can always trade these. Hope that helps.

Tom

[Ztrader]

daniil

Most newbies start with QuoteTracker or whatever your broker gives you -- price is free

Many users here have NT because they found themselves butting their head on software that limits them. I come from eSignal, many are from TradeStation. I gave up on eSignal fixing drifting indicators on Renko charts - 4 year old problem that they are very aware of. There are other problems also.

NT has the most powerful and flexible control over the indicators you chart. I have very complicated charts - ask Patch or eudamonia. NT is very fast. eSignal add-on's would have cost me more than what NT cost, and then I would have been stuck with eSignal as the exclusive datafeed.

I don't trade forex, so can't answer your trading questions.
Hope this helps.

[daniil]

Hi Patch! Hi everyone else who answers my stupid questions
Her name is Katya, something like Kate in english

So you recommend me to start with AAPL juicing not with forex
But there are still 2 problems for me to start with shares:

1. i must milk the cows not in the morning but 00:30 evening, and i do not want to take this job home like Avery said
so i can catch fx Tokyo open at 10:00 my time and London open at 18:00

2. i do not want to invest more than us$1000 (maybe to start with 500 only) for the new business for me. if it seems OK that i consistently earn my 5 bucks per deal i can invest more. But i will not invest more until i learn how to trade real. of cource i understand that i must demo trade before my real money will be online.

appreciate your advices and BRGDS,
Dan

[scalperT]

Hi Dan,

I am not recommending AAPL to start, that is just what I personally trade. On that budget, it would not be possible anway. I can't help you with Forex, but from what I have read here, the "Trillion Dollar" plan would be better for that budget.

[Patch]

Hey Dan

I learned in first grade (my wife is the best first grade teacher in the world) that there are absolutely no stupid questions, except the ones that don't get asked. If you have a question, there are lots of traders out there with the same question, I guarantee it.

Ask away, ask many and ask em all.

Patch the Pirate
In VA