Getting started - beginner part time trader

You have to Understand everything about the market.. Many people out there believe they have the Crystal Ball on trading but hardly any work.. Get into a rhythm of how you are comfortable to trade.. Understand everything, Get all the information you need on a daily basis.. Understand charts, Momentum, News, How market works, your trading style will eventually come and you will be comfortable.. TOS good system for charts and basic information.. Lots of good free service info out there too like Twitter and Seeking Alpha.. News Services I use is TTN and The TradeXchange. TradeXchange is very cheap and gives you a good foundation of news and Options cannot trade without it.. TTN more expensive but deeper software of info. Good Luck!
 
RedDuke said:
1) NinjaTrader is a free and fantastic software. You only need to buy license when you decide to trade live (very cheap btw)
2) Swing trade as other suggested, options is another route or trade Asia markets (KOSPI futures are a great and liquid contract for day trading)
3) If you settle on currencies, it is better to trade CME currency futures. Too many forex bucket shops
4) Ideally yes, but virtually impossible to find. Vast number of snake oil salesmen. Read books, lot of books.

This forum has many great ideas, but you would need to spend time doing HW. Also, backtesting strategies without programming skills will not be easy.

Enjoy the journey.
More...
Thanks for your suggestions. I have downloaded Ninjatrader and have started with reading books related to fundamental analysis. I think, I Should gain some good knowledge first and then think about mentor. I will choose stocks and start reading about swing trading.
 
YP88 said:
Hi,
I am new in the trading world. Can you please help me with following questions?
  • Which platform should I use for charts and technical analysis to practice?
  • I have 8-5 EST job, what should be the trading strategy? Could you please explain the strategy?
  • Stocks VS Forex, what is the best option considering I will have time after and before market only. I could use my phone on work for 10 to 15 mins.
  • Is there any course or book specific to part time trader?
  • Do I need a mentor? Can you suggest any who could help in the beginning stage?
More...

I wish there was a good answer I could give you.
The best I can say is don't trade ES, CL etc
Trade an ETF on a your simulator until you are consistently making money.
I read Wd Gann and each trader will tell you his own.

I suggest you do something very simple
Like double tops/bottoms.
and measured moves.

Don't give up your day job.
Don't risk anything that you can't afford to lose
If you have a winning streak don't let your ego get hold of you.
Respect how many smart well-funded institutions and people form your competition.
Think - out of the box.
If you find an edge KEEP Quiet about it - tell no-one and be always alert for changing conditions to stop your edge from working,

Good luck.
 
vanzandt said:
If I lived next door to the CME...
I'd be setting up microwave towers and leasing space on em.
More...
%%
I accidently microwaved some ants with my coffee water,once. That really woke them UP LOL.[the microwave ,not the coffee LOL......] DO NOT try this @ home with a cat-LOL.Maybe the ants are small enough to trend follow /ride between the waves?? NOT a prediction.:D:cool::thumbsdown::thumbsup:
 
You must log in or register to reply here.
Back
Top