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I guess this leads to an interesting discussion, how do you best start the learning process in trading? I remember when I started I was totally clueless, I never had a mentor and all I had was a bunch of books, 90% of which I downloaded online (which probably saved enough money for a small...

This poor person is going to have a stack a mile high once this thread is over... Any ideas of how Yelitza can choose where to start? Perhaps a random number generator in Excel? lol

This thread is turning into a self parody, lol. As you can see Yelitza, everyone's got an opinion of what's more important. I think over the course of this thread you've not only gotten a huge stack of books to read, but a good insight into the often contradictory nature of trading advice. As...

One important caveat with Malkeil: a lot of people who think ALL trading is just gambling often point to Malkeil's work. What I like about Adam Grimes is that he gives Malkeil's concepts respect, while at the same time showing how to develop an edge in the market. I particularly like how Grimes...

Van Tharp also has a shorter book that might be good for a first read, Super Trader. As far as books on trading strategies are concerned, that really depends on what you want to trade and how you want to trade it. If you want to trade technically, I'm a big fan of Adam Grimes's free online...

Well I guess it depends on what kind of trading you want to get into. Naturally Hollywood isn't going to make a film where Gordon Gekko is sitting there at night scrolling through charts in Ninja trader, or Ben Affleck is reading a lecture on how to fade the opening range, lol. They're going to...

I saw many of those films and they didn't teach me a damned thing about trading. They did show me a side to life on Wall Street, but I honestly can't expect some Hollywood screenwriter to be able to relate key trading concepts.

I'd argue there are definitely people that will mentor for free, but the biggest problem is that most people who ask to be mentored never want to do the homework necessary. Why should a mentor spend time to teach someone if their student doesn't want to do the heavy lifting? Finding a good...

Thanks, I'm going to try to find a more 101 level practical tutorial on this stuff. I need to make sure I have a solid decision making algorithm for this stuff so I have one less thing distracting me when making trades.

Thanks Risk619, to be frank this whole 'exchange routing' thing is probably going to take some whiteboard time for me as well, lol. It's so simple with futures, just one centralized exchange and DOM with no decisions to make. Here it's like a dozen little exchanges, ARCA, BATS, NASDAQ, etc...

So I gather that direct access gives you faster fills? I'm coming from a futures background so there are a few things that are still new to me here :)

Hi dealmaker, what do you mean by 'direct access'? Thanks...

If you can find an edge trading that market who cares about how much 'deep liquidity' is in FX if you're a retail trader? I really could care less who is active in that market. All you need to do is backtest an idea and see if it works. The one minus of FX to me is the time zone factor and...

Very interesting point, Robert. I honestly thought it was the other way around at first. So then it basically comes down to commissions and capital deposit issues.

I would disagree with Ditch in that 'price action' and 'drawing lines' is utter junk. This sort of 'utter junk' works for me quite well, as opposed to stochastics, fibonacci levels, elliot wave, and candlestick patterns. But to each their own. If there's one thing OP will learn from being on...

Thanks Bob, so you mean that if I trade my own account (brokerage), it's easier to verify my track record? I thought the opposite would be true, at a prop firm it would be an independent third party that verifies my information, no? @ arna, thanks, something to think about!

I concur with NoDoji on Bob Volman. Both books in my view are probably the best books on trading strategy I've ever come across, and I've spent a lot of time revising my trading plan to fit the ideas Volman presents, which also work in other markets btw. One word of advice: read Understanding...

Thanks but I'm looking to trade remote, I already have my strategies.

Hi all... I'm looking to possibly expand into stocks, and I'm trying to make up my mind between going to a broker and a prop firm (trading remote with capital deposit). I just wanted to check my info here so far to make sure I'm not missing anything. Advantages of a broker: 1. Lower...

Who cares? Even if OP has absolutely zero idea of how to trade and is about to plunge their savings into the ground, the forum is a knowledge repository so there's no harm done putting out the correct information, don't you think?