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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Online Trading for Beginners

Online Trading for Beginners

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1Online Trading for Beginners Empty Online Trading for Beginners Tue Sep 13, 2011 6:51 pm

windi5

windi5
Moderator
Moderator
Every day we see sad stories revealed by our members about their trading, most of them might be beginners who do online trading by themselves. Its better seeking advices from experts before we buy shares, specially on credits, and we should do our home work as well. I think most of us do online trading. Sometimes online trading tempts us to chase after rallies. For beginners, online trading is like a knife that has two sharp blades. Have to be very careful when doing online trading otherwise it would make us frustrated.

For beginners, share your experiences regarding online trading.
For experts and others, give your advices for beginners who do online trading and explain some techniques, if you practice some special ones, when doing online trading.

2Online Trading for Beginners Empty Re: Online Trading for Beginners Tue Sep 13, 2011 7:19 pm

laki


Senior Equity Analytic
Senior Equity Analytic
ya windi thats good idea.... please help to beginners how to do day trading by using charts MACD,RSI,Bolingerbands,??????????????? need help from expersts.......

3Online Trading for Beginners Empty Re: Online Trading for Beginners Tue Sep 13, 2011 7:32 pm

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@windi5 wrote: For beginners, online trading is like a knife that has two sharp blades.
You are right. It is like " දැලි පිහියෙන් කිරි කන්නා වගේ ".

But I believe there are some simulators available running parallel to the real Market conditions where one can try out different combinations until gets a fair grip of the intricacies and the pit-falls.

However, our experts guidance if forthcoming will be a blessing.

4Online Trading for Beginners Empty Re: Online Trading for Beginners Tue Sep 13, 2011 7:45 pm

Genting


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Beginners---if you want to giveaway your hard earned money, use online trading.
Else trade trough your broker.

5Online Trading for Beginners Empty Re: Online Trading for Beginners Tue Sep 13, 2011 8:19 pm

windi5

windi5
Moderator
Moderator
@Genting wrote:Beginners---if you want to giveaway your hard earned money, use online trading.
Else trade trough your broker.

Yes take your time and discuss with your broker or with some one who knows the mkt better and Select few good shares and follow up them for few weeks. Keep a daily record of selected shares, then you get a glimpse of bottom and resistant levels. buy when price come down, first buy a half of which you are planning to buy,its safe, if price go further down can go for the other half, otherwise just keep it going and concentrate on another share in your pick list.

6Online Trading for Beginners Empty Re: Online Trading for Beginners Tue Sep 13, 2011 9:24 pm

sriranga

sriranga
Co-Admin
I would like to introduce the following link to the beginners, which will help them a lot(I hope).
http://www.stock-trading-advice.com/stock-trading-tutorial.html
Comments appreciated.

http://sharemarket-srilanka.blogspot.co.uk/

7Online Trading for Beginners Empty Re: Online Trading for Beginners Tue Sep 13, 2011 9:45 pm

windi5

windi5
Moderator
Moderator
Most proven technique is the patience. Very Happy

8Online Trading for Beginners Empty Re: Online Trading for Beginners Tue Sep 13, 2011 10:14 pm

zen

zen
Manager - Equity Analytics
Manager - Equity Analytics
Yes. Windi5 you're absolutely correct as I shall now demonstrate. Following is a list of my important transactions.

Colombo Land bought @41.60, sold @ 42.40 on 11th Aug
East West bought 2 39.50, sold @39.70

This was when I just started trading.

9Online Trading for Beginners Empty Re: Online Trading for Beginners Tue Sep 13, 2011 11:03 pm

windi5

windi5
Moderator
Moderator
@zen wrote:Yes. Windi5 you're absolutely correct as I shall now demonstrate. Following is a list of my important transactions.

Colombo Land bought @41.60, sold @ 42.40 on 11th Aug
East West bought 2 39.50, sold @39.70

This was when I just started trading.
Your record is better Zen when compare with some other worse cases.I hope our members will disclose few of them later.

10Online Trading for Beginners Empty Re: Online Trading for Beginners Wed Sep 14, 2011 12:04 am

sas

sas
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
my first experience,
my first transaction was done after getting online trading,(June-2011) I was not familiar even with the order book. Since its my first move I hv asked my broker "what to buy?" & bought TFC.N at 35.50 with his recommendation. next day it went up 2-3 rupees, I sold them with a profit. I was very happy Laughing .

Then I saw LOLC.N trade with lower price (120.00 then) so rushed & got 100 shares. Oh boy !!! pale It dropped further to 116.00 bought another 100 to average, 112.00 another 100.... finally I was stuck with 500 shares with average of 116.00, after while it was dropped to 100.00 & 92.00 even What a Face .
What to do...... I have forgotten that counter

my mistakes;
rushed into shares thinking that "I'll never be able to buy at this price"
didn't care about the exit price,"where would this fall ends" & tried to average before bottom.
actually didn't cared about anything "just rushed"

note: after waiting 2 & half months & after gaining some profits with another counters (more profits than loss from LOLC), I have sold all 500 at around 105.00
-this post doesn't means that I'm not going to re-enter to LOLC.N-

11Online Trading for Beginners Empty Re: Online Trading for Beginners Wed Sep 14, 2011 12:19 am

windi5

windi5
Moderator
Moderator
@sas wrote:my first experience,
my first transaction was done after getting online trading,(June-2011) I was not familiar even with the order book. Since its my first move I hv asked my broker "what to buy?" & bought TFC.N at 35.50 with his recommendation. next day it went up 2-3 rupees, I sold them with a profit. I was very happy Laughing .

Then I saw LOLC.N trade with lower price (120.00 then) so rushed & got 100 shares. Oh boy !!! pale It dropped further to 116.00 bought another 100 to average, 112.00 another 100.... finally I was stuck with 500 shares with average of 116.00, after while it was dropped to 100.00 & 92.00 even What a Face .
What to do...... I have forgotten that counter

my mistakes;
rushed into shares thinking that "I'll never be able to buy at this price"
didn't care about the exit price,"where would this fall ends" & tried to average before bottom.
actually didn't cared about anything "just rushed"

note: after waiting 2 & half months & after gaining some profits with another counters (more profits than loss from LOLC), I have sold all 500 at around 105.00
-this post doesn't means that I'm not going to re-enter to LOLC.N-

Oder book could also be deceptive some times. New comers just look at the total of buying and selling orders.Most of the times there are lots of bogus buying orders at the bottom,suddenly they disappear putting investors at risk. Need more and more patience.

12Online Trading for Beginners Empty Re: Online Trading for Beginners Wed Sep 14, 2011 1:02 am

Angrybird

Angrybird
Stock Analytic
Stock Analytic
I recently stated online trading, Since Im working in doha and small investor it is difficult to contact advise however i asked advice so many times though emails but he never replied. here is my story
I had FLCH bought @3.90and sold it today @4.40 Very Happy then i realized huge buying pressure (last traded qty price cell always blinking in green ) so then I bought larger qty @4.50 thinking it will hit by 5 same day. Rolling Eyes but price never went up. wht to do.... Sold the same qty (4.20-4.30)
I had the same experience in RAL too..

Lesson learned:
Should have more patient
Should do some basic home works
Should understand instant profit will always go with a risk

13Online Trading for Beginners Empty Re: Online Trading for Beginners Wed Sep 14, 2011 1:20 am

windi5

windi5
Moderator
Moderator
Everyone knows how difficult it is to do the opposite of what the crowd is doing, especially during manias and panics. But that's precisely what you must do if you want your best shot at beating other traders, and beating the market.

14Online Trading for Beginners Empty Re: Online Trading for Beginners Wed Sep 14, 2011 7:39 am

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I have already saw somebodies were playing by putting orders and cancel them and putting them again so many times. Once, I did it to aluf to take its price some more higher and it was succeeded Very Happy .

15Online Trading for Beginners Empty Re: Online Trading for Beginners Wed Sep 14, 2011 9:02 am

NimeshaJK

NimeshaJK
Manager - Equity Analytics
Manager - Equity Analytics
@Genting wrote:Beginners---if you want to giveaway your hard earned money, use online trading.
Else trade trough your broker.

that is not entirely true..
I started in CSE last month and did not seek advice from my broker much..
I almost entirely traded online and I haven't made a single loss (except for a stupid case involved with right issue)

So be confident. Know what you do. You'll succeed..
Cheers!!!

http://njkentertainment.freeforums.org/index.php

16Online Trading for Beginners Empty Re: Online Trading for Beginners Wed Sep 14, 2011 9:09 am

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Online trading allows you to work independently in stock market. You have the ability to keep in touch with your shares. You can get correct decision because you know the current situation very well. To me, it's very difficult to do trading through broker. There are so many other advantages also. Very Happy

17Online Trading for Beginners Empty Re: Online Trading for Beginners Wed Sep 14, 2011 9:30 am

windi5

windi5
Moderator
Moderator
I know some experienced ppl do even 2 or 3 swing trading per day with a single share. There are many entering and exit points in those so called rallies. At one point it can be sky rocking,then come back due to resistances. Most of our beginners enter to the party at those resistance levels risking there money. Its better to study the mkt and the shares,Patiently, before doing any kind of trading whether its online or through brokers.

18Online Trading for Beginners Empty Re: Online Trading for Beginners Wed Sep 14, 2011 1:59 pm

hunter

hunter
Moderator
Moderator
My view based on past experience:

Trading is like swimming.
You might see, standing near the pool, how elegantly experienced swimmers go from one end to the other, do a roll and come back to this end and so on.

If you have never swum, can you dive jump from the deep end do the same?

Learning to trade is also like learning to swim.

You will never learn it by watching from outside. You have to jump into the water. But better to enter into the water from the shallow end; slowly; step by step.

So, for beginners, I recommend start on your own, do mistakes and learn, learn from others, learn and learn. You have to learn it the hard way.
Water will go inside your nose for sure when you forget not to breath underwater.
But, for good sake, don't jump to the deep end first; just take a dip in the shallow end first. i.e. Don't put big amount of money first; just use some money you can consider as your 'training fee' first.

Happy trading lessons.



Last edited by hunter on Wed Sep 14, 2011 2:10 pm; edited 3 times in total

19Online Trading for Beginners Empty Re: Online Trading for Beginners Wed Sep 14, 2011 2:02 pm

tanzanite

tanzanite
Senior Equity Analytic
Senior Equity Analytic
yeah so true, great word!!

20Online Trading for Beginners Empty Re: Online Trading for Beginners Wed Sep 14, 2011 2:14 pm

NimeshaJK

NimeshaJK
Manager - Equity Analytics
Manager - Equity Analytics
@hunter wrote:My view based on past experience:

Trading is like swimming.
You might see, standing near the pool, how elegantly experienced swimmers go from one end to the other, do a roll and come back to this end and so on.

If you have never swum, can you dive jump from the deep end do the same?

Learning to trade is also like learning to swim.

You will never learn it by watching from outside. You have to jump into the water. But better to enter into the water from the shallow end; slowly; step by step.

So, for beginners, I recommend start on your own, do mistakes and learn, learn from others, learn and learn. You have to learn it the hard way.
Water will go inside your nose for sure when you forget not to breath underwater.
But, for good sake, don't jump to the deep end first; just take a dip in the shallow end first. i.e. Don't put big amount of money first; just use some money you can consider as your 'training fee' first.

Happy trading lessons.

well said.. and that's exactly what I did.. my investment was Rs. 5000.. if I loose the whole thing it's still 5000, but I'll gain a lot of experience. Experience is what counts in the market..
Cheers!!!

http://njkentertainment.freeforums.org/index.php

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