Hey guys,
So I’ve always been interested in the markets but have usually taken a longer term approach to investing. All of my retirement assets are in index’s... I do have about $10k in my brokerage account to play with.
Anyways, is there anyone that can point me in the right direction to REALLY learn trading/investing? I’d like to use trading to give myself an additional 10-15k+ a year in income but it honestly seems pretty hard to do.
I take it day trading options is one of the better ways to “make money quick”?
Any advice is much appreciated
There are two aspects to learning trading.
The first involves learning the mechanics - learning how to read charts, how to use tools, to what extent you can trust indicators etc. It involves spending time reading extensively from the likes of Al Brooks and Larry Williams and other great authors. But it also involves spending time with charts and getting to know them, being able to recognise patterns, trading setups, opportune moments.
The second involves learning about yourself. Most people end up losing money in trading and giving up because they never learned enough about themselves. The importance of self discipline cannot be exaggerated.
The one thing you don't do is sign up for one of the numerous courses purporting to teach you about trading. There may be one or two good ones about but this is an area fraught with scams and con artists.
Oh, yes, one more thing you don't do is go spend money on some fantastic indicator or Expert Adviser. Or anything! (Apart from good books from well recognised authors) Yes, don't buy tools / EAs even if they've been back tested with several years' worth of data!
If I have to recommend one free resource in this area it would be Lance Beggs' "Your Trading Coach" (Google it). He speaks sense and has tons of good stuff on his site. There are several good forums - ForexFactory and SteveHopwoodForex are very different beasts but both are free ...so knock yourself out. Read a few thousand posts, read a few dozen good books, do tons of other research and spend a few months demo trading on a test account before you risk any of your own cash!
I won't say "good luck" because luck should have nothing to do with it. But I shall wish you Happy Learning.
Thanks!
watch these videos to learn how to day trade...day trading has nothing to do with fundamentals...its all about price action. i'm a prop trader at a firm that people on this board reference, and i day trade every day (mostly futures)...and there are nuggets in these videos that are very true.
https://www.youtube.com/watch?v=Igm-7GS6e04How can I trade stocks for a living? (Originally Posted: 01/14/2015)
I've been trading stocks on-again-off-again for six years with success. My portfolio generated a ~20% return (before taxes & fees) in 2014. I usually hold a stock for at least a week and sometimes up to a year. I do not day trade.
I've decided to pursue trading stocks full-time. What's the best route to take? Are there any prop firms that allow traders to hold stocks for more than three months?
I'm 26 years old with no college degree. My dad has connections on the street, and said he'd help me get a job if needed.
I think you answered your own question, lean on your dad.
But what position would you go for? What's the best route to take? Assistant trader?
Yep, he knows the Cookie Monster.
Enim consequatur aperiam voluptatem voluptatem doloremque dignissimos voluptatibus. Eveniet unde nulla beatae sequi. Laborum corporis est voluptates saepe adipisci et. Voluptatem qui quisquam asperiores aliquam quo placeat. Quae vitae repellendus perferendis odit quod voluptatem porro. Omnis quam accusantium voluptatem asperiores sequi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...