Welcome back. This is Module Three of course in this module we will be looking at how to get started specifically, we will be looking at how to open a new account as well as how to configure it. The first step would be to elect a broker, you can at the definition of a broken your broker is a licensed institutional firm that coordinates all buying and selling activities on behalf deadlines. brokers are basically the banks of the trading world and should be approached in the same fashion as when choosing a personal bank. brokers provides you with the platform on which you will be conducting your trading activities and therefore there are a few things that you need to look out for when choosing a broker. Firstly, reputation I would suggest that you do some research, read some reviews, speak to traders and to help you get a reputable broker next look at costs that will be in terms of fees in the game, in terms of think of it in terms of banking fees.

Thirdly, accessibility and ease of use of the platform. Again, you should get some clarity from reviews. You've not might want to have a look on the brokers website. Just look at some aspects and features of the platforms. Also, some brokers add value at give you some value ads such as charting software, mobile applications, as well as the various levels of technical support. So that would be things that you need to consider.

So once you decide which broker to use, you need to sign up for an account. The step usually requires you to fill in and submit some documentation. Again, he did not Be much dissimilar to opening a new bank account. Luckily today's in this day and age and everything should be able to be done electronically by email or telephone so no need to go into a branch or anything like that. So once your account has been opened you will be provided with the opportunity to set up some login details that will be to access your trading platform. And always remember to keep this information in a safe place.

Once you have logged into your trading platform, things might be a little unfamiliar. So at this stage, it might be wise to find the help section and then more about the platform. Sometimes you would find that there are some has video tutorials available. So that will always be a good idea to go through those. Then depending on your broker, you will likely be able to access your training come from both your computer at home or office as well as mobile devices such as Sultans and tablets. Most brokers these days do offer mobile trading platforms, which means you can easily access your trading platform when you're out of office on the go.

So let's try to understand some of the different account account types that we get. There are two major account types. The first is a demo account. Now the demo account is designed to help you practice your trading in a realistic, risk free environment. The Americans look and feel the same as any other counterpart who with one notable exception that being that the money and the trades are virtual. So this means that you will be allocated a virtual deposit for instance $10,000 to play with and to help you get used to placing and managing your trades in a simulated trading environment.

The demo account will also be be available even before you have funded your Live account. Meaning once you have signed up through your training account at your broker, you should immediately start, you should be able to really start playing around on your demo account. Having a look at a Live account the Live account is the real deal and would be subject to risk of loss as all the trading would be done with real money at stake. And law of accounts may also be subjected to transaction fees for each transaction effected. Again it be wise to maybe have a look at those from your brokers website. interest will also be charged depending on the time positions are held or kept open.

And this is usually referred to as overnight costs. Okay, next, it could be time to fund your account. So this is a big step and this is the point to be you need to decide how much money you will allocate to trading. It is important to note that trading should never be done created and should form part of a balanced investment portfolio. A general rule of thumb is to allocate no more than a third of your available capital to trading. Now, depending on how your account is structured, you may have access to both a local as well as a international account.

Usually, a local account is funded and denoted in your local currency and only have access to local shares. Your international account will usually be funded and denoted in USD or GBP and have access to global markets and interest instruments. Just be careful to ensure you are indeed finding the correct account when you are setting up your account, two things to consider is the layout as well as something called watch lists. So you're once funded. Some of the first things you need to do is to open up The layout of your trading platform in a way that you have quick and easy access to all the common markets and cheese that you should check and trade. And this is usually accomplished through what is referred to as watch lists.

And you can also create multiple watch lists to suit your style. I personally like to make a watch list for all the common indexes on for shares that I like to trade and also one for the more common currency base that I trade. If you're a commodity trader, for instance, you can also add these to watch list. It is absolutely all up to you. The goal is set up your trading platform in a in a way that you have visibility and access to the markets that you want to do other things that we can look at that would be your something called DMA and data feeds. These will usually be configured on the preferences or like your settings at the port of the account.

If you're unsure about these It could also be referred to Just check in with technical support. But simply boot data feeds are metadata that is data about data, more specifically about price. In other words, what are the current bid and ask prices and you're not entirely sure what that means at this stage, don't worry, we will cover that in a future module. So, depending on your data feeds, you will have access to what is called as level one data or level two data. And with level two data, it simply means that you will have access to detailed order book information of all read and asked prices in the order book. DMA refers to the way in which trades are executed, but I'm not going to go into too much detail about that right now.

Just note that it is usually worth while to enable your DMA again, depending on your On top and the broker you will by default have access to either level one market data or the light level one market data which means you would have access which means if you have access to the light level one MOCA data that means the prices of the different instruments that you are seeing will be delayed by certain period that will be usually 15 minutes or so. So, it is recommended to enable DMA in at least level one giving you live access. Again, these can be found under your account preferences. This is this is especially important for markets that you're playing to really tried and note that in shaping these types of feeds may incur additional costs. Although most brokers do rebate these costs if you make enough trades. Again, just check in with your broker about this.

Looking at shorting and tools, there are four categories of value adds that can accompany your trading platform. Over the next couple of slides, I will carefully discuss the schedule freeze. So these are your charting indicators, stock and pattern screeners as well as third party automated trading software. So let's look at shorting. And so obviously the first thing that comes to mind most people when they think of trading is the charts and your trading account shooting to some basic drawing abilities, but it is usually recommended to look at dedicated charting platforms to get the most out of your charts. It is also wise to keep your charting separate from your your trading account, and the main reason for that being that could save you from making impulsive trading decisions and I'll explain this in more detail in the next module.

Note that most jogging platforms or very finicky and scaling is often times issue. And having used many jobs in bathrooms myself, I can have confidence said that the charting platform as found on www.tradingview.com are probably the best out there. And I'd actually like to show you a little bit more about it. And so let's go to the website. I'll bring it up on the screen right now. There we go.

So once on the website wwlp.com you will be presented with this screen. Now, joining is free obviously. And what this will allow you to do is to save all the technical drawings and annotations that you make on the charts. So, how this works is that you can type in the name of any instrument so let's type in for instance, The foreign currency pair the Euro USD. So once during the you can see Euro USD we'll also see there are some common markets up here that you can select gold crude all this cryptocurrency FM USD pair Bitcoin USD and is the one that we were looking for now in the search as well. So let's just click on it over here, see what happens.

And as you can see they actually quite neatly present to you the technical aspects of this currency pay, even giving you a technical analysis summary. It would also be some trading ideas from other traders on the web. But for you to maybe analyze this chart yourself, you will usually go to what's called an interactive chart. So let's click on that Okay, so the is explaining to you the benefits of unlocking the full features of tradingview by subscribing. So let's just say no thanks for now, again. So you are presented with a very neat chart.

I'm not going to go into all the details of how to read a chart all the details of configuring a chart and setting up a chart that will be that will be covered in one of our future modules in much more detail. So let's just get back to the presentation and court for now. indicators. So once you look for jobs, you might want to add some indicators to assist you in interpreting them. indicators are simply visual cards to help you interpret price data and are either overlaid on the chart itself or displayed below. As an oscillator or histogram, some popular indicators include or it's all equal the relative strength index or MACD, or MACD, as I like to call it that is your moving average convergence divergence indicator.

But again, there are hundreds of indicators. But only a handful is really useful in my opinion. But we will cover in much more detail all the best indicators to use for trading in module six. Now that all charting packages do come with the ability to add indicators, and some even include custom indicators added by users of the training community, when once again I can really recommend trading view for simplicity and reliability. It also includes a very nice set of both built in and custom indicators. So let's look at the stock and patent screeners.

These are usually based on technical parameters stock screeners. Again, third party tools that will allow you to search or screen different markets based on predefined parameters. For instance, it can show you all stocks that have made a new 52 week high or that creates a new all time high point is yesterday, or show your stocks and have an RSI indicator in a higher highly oversold territory. Some screaming screeners can even help you to find stocks that match certain technical analysis patterns. So in this way, stock screeners act as market scanners showing you stocks that potentially meet some of the trading conditions you are looking for. And you can imagine it how much time this will save you versus having to manually open up a couple of hundred different stocks.

Note that not all brokers include this scanner but they can be found as bought the epic as well. Lastly, automated trading software. So again, some brokers do offer you access to third party platforms that do support automated trading software. Some popular Examples include meta trader or pro real time. Just like note that if you provide access to these and you do enable the option to use them, it might incur additional monthly fees. These platforms will allow you to create custom jotting indicators and algorithms and they can be used to assist or even automate your trading activities.

These platforms can also be used to optimize and backtest your existing trading strategies. We will be looking at these systems in much more detail on multiple phases of the course. So no need to worry about these too much at this stage. The whole idea was just to show you some of the third party add ons or Value adds that do company some brokers that you might choose then is it full module free. Thank you very much for listening and taking the time to do this. If you have any questions as always feel free to mail them to me at info@export.com