Advice To A Newbie

Luctrative1, check out this thread If you had to name one quality to succeed in trading, what would it be?

I believe it answers some of your questions.

You will have to go a long way before you can tell what exactly do you want to do. Have in mind that the corporate mentality and trading mentality are quite different. In the corporate world you manipulate people, in trading you manipulate securities. In trading you will have to confront your mistakes and the pain of losing every single day. And it is not natural for a human being to accept pain...
 
Quote from neutrino:

Luctrative1, check out this thread If you had to name one quality to succeed in trading, what would it be?

I believe it answers some of your questions.

You will have to go a long way before you can tell what exactly do you want to do. Have in mind that the corporate mentality and trading mentality are incompatible. In the corporate world you manipulate people, in trading you manipulate securities. In trading you will have to confront your mistakes and the pain of losing every single day. And it is not natural for a human being to accept pain...
More...

I think the most important thing I learned from the best leaders I worked with on various world-first-class projects (like the world's 1st commercial H.323 network services) was that true honesty and openness with regards to strategies and decisions are key to career success. I detested those who just bullshitted their way forwards, were hipocrats or used deceit for gains. Most leaders I worked with, didn't appreciate those qualities much either.
However, being very extrovert and "bullish" at the right moment is also key to landing great opportunities. Not being overly greedy also helps ensuring that great opportunities turn into success, sharing success is actually a great feeling and makes a lot of friends.
 


go to the elitetrader books section and read at least one from each category and then specialize in Technical Analysis. Also read books on economic history, economics, and international markets and fundamental analysis and how the financial news affects the markets.


Education is the best first step in becoming a pro. Know what you're doing and what you want to do.
 
Forget trying to figure out if you are the trader "type". You won't know until you are. You'll know when you fail 1, 2, 3 times and still come back for more.

I'd suggest:
1. beat online poker (cheapest way to learn to trade)
2. major in something that will pay the bills (just in case)
 
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