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I went to IB online to start the process of opening an account last night so that I can start demo trading and watching real-time data to begin to understand and learn price action. I did not finish (but saved) the application as I had a few questions: 1. I understand that there is a...

Thank you again for your reply. Sorry, my question did not come out quite right. I figured it would take years to become good/great; I just meant how long until I should have an elementary ability understanding price action and the three beginning steps - which you basiclyanswered anyway...

Thank you for helping confirm IB as a good place to start in learning about trading and watching price action as well as all the details on why they would continue to be a great choice to trade with. Thank you for your explanation of the first things to watch and focus on in price action...

Stealth Trader, I am about to open an account with IB. I have decided to focus only on the YM to start. I have all day to watch the price action. 1. Is the IB simulator/TWS a good place to watch price action and paper trade? 2. Will I learn all I need to by watching the price move or...

Update: I moved the money ($24,000) into some no-load mutual funds at fidelity on May 17. Account currently sits at $26,300. FSEAX - 19% (two months) FLATX - 14% (two months) FEMKX - 14% (two months) FLVCX - 04% (last 30+ days) FECAX - 1.5% (first 30 days, then moved to FLVCX)...

Been reading all the educational info at http://hardrightedge.com - thanks again! Will start working through http://www.lbrgroup.com/index.asp next.

Thanks - I am a bit extreme when I pursue something or becoming something which can drive my wife crazy. But after 5 years of marriage she is beginning to get used to it. She just has to feel more important than my current project which I am still continually learning to do as well...

I hope you are right. It took me 3 years to break 80 consistently, but I would literally hit thousands of range balls a week and play golf every moment I could continually going back to the basics Nicklaus outlined in "Golf My Way". In 1989 when I was in 9th grade, I wanted to figure out who...

Thank you, I hadn't realized that yet.

Thanks to everyone for the suggestions. I believe I have found a thread to begin to understand what a good/valid trading plan will look like due to the number of examples given. I am working my way through the following thread: http://www.elitetrader.com/vb/showt...7203#post137203...

Read the near 50 pages of posts suggested in the 3 threads - going to bed - will post thoughts on them tomorrow. Jason

Thank you, I will read these.

No, I have not opened an account yet as I need to stack the odds in my favor as much as possible; trading at this point would be foolish. Not sure why you posted and the reference to pork bellies.

Thank you CM. Would some others confirm the books CM recommended as solid and the best places to submerge myself and which are best or would Trading Rules be a better place to start???? Thank you all for your patience. I am trying to practice what seems to be one of the essentials in...

Thank you for your question: I am not sure how to answer that except to tell you what I have done since deciding the explore trading as a possibility of creating an additional stream of income (even if it takes time to develop). I am serious enough to respect the markets and the statistics...

Here is step1 of the advice given to CM in September 2006 that most said was the best advice they had seen in a long time: "IF you have a valid plan, AND you can follow it, the money will come." You need to: 1. Write down your trading plan. Entry and exit rules, position sizing, risk...

I have not moved the $25K out of the checking account to a brokerage yet. Suggestions on where would be best/lowest overall fees? Also, I guess it will depend on what style and markets I trade as to who I go with?

Well, I definitely do not want to day trade. I am open to swing trading or postion (trend) trading. I naturally feel inclined to postion trading but this may not be wise with only 25K? I am willing to sit forever on something if need be, but I do not know if this is to my advantage with a...

Kiwitrader (and CM) - I read the 18 page post on CM's situation in Sept. 2006. I believe most point back to this post in the thread. (I also read the postings about the six mental steps to becoming a master trader). "A lot of good advice from experienced traders. As mentioned you're...

Thanks, I actually am pretty serious in most things I do - chloeric temperment. Agreed - in your opinion what would be the very best, most efficient and useful reading for a complete newbie? Then do I paper trade immediately following these readings?