Don't shoot me: Where do I start?

Look and hear but don't take them too much in consideration : if you don't filter what everybody's saying you will be completely lost. I can't say better than this guy :

http://www.snailtrader.com/id5.htm


Trading by Nonparticipation

When I was first learning to trade, it was very difficult because it was so confusing. The amount of information on trading was overwhelming and dogmatic. Most ideas did make sense, but they were often in conflict with each other. Buy dips? Buy new highs? Cheap stocks? High flyers? Options? It was very difficult to reconcile. Additionally, not only did everyone I listen to have a different opinion, but they all sounded so authoritative! Who and what was I to believe? So although I studied and traded very hard I was unable to make money consistently because I didn't quite know what I was doing; my methods were so scattered. One day after another bout of frustrating losses, I remembered an old Japanese maxim:

"A garden is complete when there is nothing left to remove."



Quote from Completenewbee:

Ok. I'm a complete newbie to all this willing to learn a lot. Just hand me the books and I'll read and ('ll keep trying to )understand them.
But how?

I recently got my university degree in Economics here in Belgium. I' ve read some articles about daytrading and online trading, but it's all kept way to vage as if they want to keep out the newbies.

Where do I start reading? using the software? Like: how can I sell stocks somewhere online and get the money on MY Belgian bankaccount?? I mean EUHM?? you see, I have a LOT of question marks.

Who helps me out?
Thanks, all of you professionals, that IS what you are huh? ;-)

Martijn.
More...
 
I repeat for the hundriedth time : What is important is to have a COHERENT FRAMEWORK not a bunch of incoherent rules. And there is not one possible framework and every framework doesn't suit your personality and constraint. First of all if you don't have capital don't dream and work first in a regular job...
 
I'am willing to teach you personally in Belgium. I don't need money for it(have enough of that) just give me a private message with your email and we will make an appiontment to see of I can help you.
 
Thanks all of you guys.

I'll buy about 4 of the best rated books and let my library purchase all the rest.. :-)

I'll let you know when I've passed the sixth digit on my account.
hum hum...

Martijn.
 
My favorite book is the master swing trader by Farley. I would read others first though because it is a bit heady. Maybe this:

1. TA by Murphy
2. Candlesticks by Nison
3. Farley
 
''Newbie,

First, good luck.


I agree with Hawker and read Elder's books and Murphy too.

IMO, the biggest factors are psychology and money management.

You have to know yourself very well: Do you want to be right more than you are wrong? What type of risks are you willing to take? After suffering losses, do you stay with your trading plan or stop trading and make a new plan-how do you know when to stay or when to try something new? How will you react after your first 5 trades all lose money? Your first 9 of 10 lose money?

How much do you risk on a trade? When do you cut your losses? How many shares/contracts to buy/sell? What will you trade? What style of trading? How much do you really need in your trading account: hint it is a lot more than you think. How will you exit a trade?

In my trading, I finally started making money consistently after I "discovered" exits are far more important that entries. I put it in quotes as many books make a point of this. I ignored what they were telling me for a few years.

DS
 
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