gun - http://www.elitetrader.com/vb/showthread.php?s=&threadid=74366 on that thread I gave some reco's - the 3rd post down or so.
Good luck!
Good luck!
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21 and clueless
- Thread starter guntd
- Start date
For basic info into the tools and data for trading, try reading the technical analysis section of stockcharts.com and http://hardrightedge.com/tw.htm
For the nuts and bolts of trading, like software, exchanges, order entry, games that locals/specialists/MMs play, tape reading etc. .. it really helps to be trained rather than try to learn yourself. That's where (safe, honest) prop firms come in.
I would suggest the chart pattern encyc and the Market Wizard series to start instead of Reminiscences. Reminiscences won't exactly make sense in the way it should until you actually start in the market, but it has more valuable wisdom.
Good start though: good school, like poker, humble, and decently capitalized to not blow up quickly. Humility and honesty with self and others I think are actually some of the most crucial characteristics.
For the nuts and bolts of trading, like software, exchanges, order entry, games that locals/specialists/MMs play, tape reading etc. .. it really helps to be trained rather than try to learn yourself. That's where (safe, honest) prop firms come in.
I would suggest the chart pattern encyc and the Market Wizard series to start instead of Reminiscences. Reminiscences won't exactly make sense in the way it should until you actually start in the market, but it has more valuable wisdom.
Good start though: good school, like poker, humble, and decently capitalized to not blow up quickly. Humility and honesty with self and others I think are actually some of the most crucial characteristics.
Hmmm thanks a lot all. The books would probably be a good start for me because I have no clue what alot of the things you guys mentioned here are. lol. Do any of guys have a suggestion on sites that give you guys leads on which stocks to pick up? how many stocks i should pick up at a time with 25k? if the price of a stock matters, i.e. a stock at 30 compared to one at 70? I will pick up the books you guys recommended and start accounts at the sites you guys recommended and work for there. Currently I am trading through scottrade. Cool, thanks a bunch!
When I was starting out, http://www.investopedia.com was/is a great resource. It's got a simulator as well, although 20-min delay on trades and data. Lots of easy-to-read articles that get the basics across, then if you want to dig deeper just do a google search or a forum search for a certain topic.
Good luck to you and keep us posted on your progress!
Good luck to you and keep us posted on your progress!
Quote from guntd:
Hmmm thanks a lot all. The books would probably be a good start for me because I have no clue what alot of the things you guys mentioned here are. lol. Do any of guys have a suggestion on sites that give you guys leads on which stocks to pick up? how many stocks i should pick up at a time with 25k? if the price of a stock matters, i.e. a stock at 30 compared to one at 70? I will pick up the books you guys recommended and start accounts at the sites you guys recommended and work for there. Currently I am trading through scottrade. Cool, thanks a bunch!
price dont matter shit; important thing is that it moves enough to give u a decent r/r; the tightest the ranges the worse your chances and the most difficult to predict. even if u have 25k in your acct don't trade more than 100shares for quite some time [i suggest 20-50shares at the beginnin']; it's more than likely is gonna save u a lot of money.
- First of all, think about you 're coming into one of the hardest battle on earth : trading profitably... It takes years to be constant.
- As soon as you know that, read directly something serious like Kaufman's "new trading systems and methods", and learn to program... Since you have a scientific background, it will not be difficult to learn TS EasyLanguage or AmiBroker... Just go for backtesting, it will be a gain of time and money.
- Then, have a couple defeats using overoptimized systems.
- Finally save the good ones and run it eternally( just kidding ).
- As soon as you know that, read directly something serious like Kaufman's "new trading systems and methods", and learn to program... Since you have a scientific background, it will not be difficult to learn TS EasyLanguage or AmiBroker... Just go for backtesting, it will be a gain of time and money.
- Then, have a couple defeats using overoptimized systems.
- Finally save the good ones and run it eternally( just kidding ).
I wonder how much you lose before you start making some profits.