Your Questions About Successful Trading

Lisa asks…

Where can I find prices for trading card packs?

Not individual cards, I already know where to find those. I need a website that lists the retail prices of booster packs and structure decks for trading card games like Yugioh, Magic the gathering, and Pokemon. It has to be the retail price,not wholesale distributor prices. I need to know how much stores are selling boosters and decks for. I know that not all stores will have the same price, but card packs always have a suggested retail price, which is what the manufacturer suggests the retail sell it for.

Does anyone know where I can find these listings?

John answers:

According to Google, it’s somewhat of a gray area, but I’d be happy to do more research if you want to message me. I spent about 10 minutes looking around but it’s not an easy answer. Again, feel free to message me and I hope you are successful in what you are looking for.

Daniel asks…

How (and where) can I lean to ‘trade’ on the financial markets?

Trading is something I been wanting to learn to do for quite some time now, and despite spending a fair amount of time learning from sites like ‘babypips.com’ and Investopedia, I have no idea how to make reasonable predictions on what a market is likely to do next. When Iooking at a chart (be it stocks or forex) I concentrate on technicals (such as the MACD, support and resistance levels and Fib levels), but pay no attention to ‘fundamental analysis’ of any sorts. Perhaps that’s where I am going wrong, but I can’t see where fundamentals come into trading shorter time periods (hours). I have never traded real money, but I’ve set up demo accounts so I could see how well i’d trade under real market conditions, and I pretty much always lose on the positions I take.

So back to my question: Where/ How can I learn to make successful trades? I’ve received emails from ‘markettraders.com’ telling me that they’d like to mentor me, but I can only assume that this is a scam, right?

Any advice would be much appreciated. Many thanks.
‘ag318pun’, thanks for the (patronising) answer, but it doesn’t really help me. No one was born an expert trader: they’d all have earned their status as ‘experts’ over some period of time. So let me rephrase my question for you: “How did the ‘experts’ learn to trade?”

John answers:

Maybe the trading business is not for you.
Try being a long term investor and leave the
trading to the experts.

Susan asks…

economic differences among countries pose a challenge to successful global trade?

why do the political, legal, and economic differences among countries pose a challenge to successful global trade?

John answers:

Lots of reasons. In politics for example, if a country has a political system that is not conducive to American Foreign Policy, the US can embargo that country, as it did with Cuba and Iran. For economic reasons, a country which exports a lot, like Japan, needs to have a weak currency so that other countries would be able to afford their goods. If the yen is too strong, they have a hard time exporting.

Betty asks…

Was William Farqhuar or Sir Stamford Raffles the true founder of Singapore?

Raffles made Singapore be under the British but Farqhuar turned Singapore into a successful trading port and stuff, so who is the real founder??? I’ll need 2 evidences for each of them and a conclusion. Thank You! 🙂

John answers:

Stamford Raffles leased land from the Sultan of Johore in 1819 . The British took over full sovereignty in 1824..
Stamford Raffles is known for his acquisition of Singapore for the East India Company and the founding of the city there,
He was also a founder and first president of London Zoo
It was Chinese traders who were the first to see its trading prospects ( Singapore , that is )

Thomas asks…

What are the best prop firms for stock trading?

Does anyone use a proprietary trading firm for stock trading? I am looking for a good one to transfer my account to and am looking for suggestions.
Right now, I’m with SogoTrade with $3 trades. But I can only day trade 3x per 5-day rolling period, per the SEC because I have less than $25,000 in my account. With a prop firm, you don’t have that restriction. You can daytrade with as little as $2500 as many times as you want. I want to get with a firm where I can do a trade, ride it up or down for about 10 cents and get out and then find another one without worrying about the 3x limit.

John answers:

Of course, they could be located anywhere, but the greatest concentration of prop shops is in Chicago. Generally, you must go to their location, trade using their facilities, and if you want to use their capital, then you must trade using their rules and strategies.

Maybe you are asking about a trading arcade.

Definition of ‘Prop Shop’
A proprietary trading group that usually trades electronically at a physical facility. Prop shops supply their traders with the education and capital resources to engage in a large number of deals each day.

Investopedia explains ‘Prop Shop’
The term “prop” is derived from a shortened form of proprietary. Prop shops are very similar to trading arcades. Both offer facilities where local traders can engage in electronic transactions and have access to the latest trading technology. However, there is a distinct difference in the trading operations between the two facilities. In a trading arcade, traders will transact for their own accounts. Prop shop traders trade for the firm’s account using the shop’s capital. By using the capital resources of the prop shop, traders gain access to more leverage than they would with an individual account.

Read more: http://www.investopedia.com/terms/p/prop_shop.asp#ixzz2HElhUgYE

Of the two proprietary trading firms I looked into at the time, about five years ago, the clients had to make a certain number of trades per day, and a whole mess of other rules to follow. The failure rate of clients was more than 60%. Of the ones that were successful, they made about $60,000 – 80,000 per year.

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