Have $25K.......Best way to begin learning to trade it

Quote from jason586:
I am open to all constructive ideas and thoughts.......
More...

Save your money for trading, no seminars, or software yet.

Get a 8GB ipod and go to www.investorflix.com and subscribe for $20 a month.

Get every seminar from the following:
Linda Radsche(?) she probably has 10
Larry Williams
Ryan Jones on money management
Peter Stiedmeyer
Chuck Lebau(?)

Each of these names have been discussed at length on ET. Search for the lecturer and try and understand to the detractors' point of view.

Purchase the audio of 'Pit Bull' with Schwartz narrating the book (not some computer voice)

purchase the audio of 'reminisces of a Stock Operator'

Purchase the audio of 'When Genius Failed' about LTCM failure

Go to the cbot and cme websites and download all of the seminars that you think will help.

Load it all on the ipod and listen anytime the market is closed. When the market is open trade small anything. It really doesn't matter, until it starts to make sense.

Read anything on this site by Spyertrader, 4re, few others.

Enjoy and good trading!!!
 
Yes, by all means, do not ever invest time or money in any book, lessons, private schools, learning how to read or write, enter college, start a business, or anything else. Just wait for someone to give you money....yeah, "that's the ticket" LOL.
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you are possible correct-

1.Thengiz-Khan was richest person,but can not write and read ...

2. Author of Harry Potter won 1 bil $ ,which book without
any matter. Microsoft is programm without any matter ,
multiple error's only .
EX-CIO of Goldman Sachs ,female won 200 mln $
to 45 years. Her qualifaction in comparsion with
qualification of Seymur Cray is not the matter .



3. ...start a business

Senior adviser from UBS private banking stated to author -
"Important is health,another is not the matter "

V.Spereandreo ,M.Schwartz received multple problem's
with health from involvement in trading .





Questions of happiness was adressed from Greek philosophy .

Author not found by old Greek statement -"Start business is the way to be happy "
 
ramora
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Quote from jason586:
I am open to all constructive ideas and thoughts.......
--------------------------------------------------------------------------------



Save your money for trading, no seminars, or software yet.

Get a 8GB ipod and go to www.investorflix.com and subscribe for $20 a month

###############################

Do not make that jason586 ,buy battle of california wine
and drink with your wife for health of your daughter ...
Each month

Best wish ...
 
jason586,

Trying to beat the market all comes down to this:

1) It's a 50/50 crap shoot: the price will either go up or it will go down.

A better game would be to play either the red or the black on the roulette wheel. Over time it really doesn't matter.

2) Somewhere along the way Dr. Greenspan told a Senate committee:

.... "When you are dealing with stock the possibilities of which are either, it's going to be valued at zero, or some huge number - you get a premium in that stock price which is exactly the same sort of price evaluation process that goes on in the lottery: following principles known to lottery managers for centuries."

3) .... "The chimp, known as Raven to his managers at the Internet Stock Review, threw 10 darts at a dart board with the names of 133 internet companies to select the 'MonkeyDex' - a portfolio showing 50 per cent growth on a year-to-date basis, outstripping the Munder Net fund, with 32 per cent growth."

Stay away from people who purport to give 'expert' stock trading advise. They NEVER ever come close to the results of an untrained chimpanzee!

4) The only winner out there is the 'house': your local casino and your broker.

5) Jason586, save yourself a lot of time and effort: invest in an INDEX fund; otherwise you'll be living in a tent someplace wishing you were back flipping houses every two years.

NOW go spend your remaining time with your loved ones.

If you're persistent, read and put into effect:

http://www.amazon.com/Trading-Rules...9731920?ie=UTF8&s=books&qid=1178652566&sr=1-1

I hope this helps.

Tom
 
Quote from jason586:

I have $25K sitting in a checking account that only earns about 4% a month that I would like to start trading with at some point in the future.
More...

I wish I had this kind of capital. I think most would agree that stocks are a basic place to start. Lots of free info, and many good books on the subject.

Trade 50- 100 shares for a year, and learn all the mistakes first. Once you start to understand things more, you'll have the money to trade larger size... maybe 500- 1000 share lots.

cm
 
Jason,

The truth of the matter is,
there is roughly 72,000 Elite Trader website members, but less than 2,000 (1-2%) of them are actually making a full time living trading. (and that number is being generous).
Trading consistently successful for a full time living day after day, week after week and year after year, is probably the most difficult task you will ever attempt in your lifetime.
I personally believe that if you start from scratch attempting to be a trader, without a mentor, coach, or solid trading education, your chance of success is < 1%.
One of the problems a newcomer faces is
information overload:
1: There is hundreds of books, dozens of home study courses
and even some trading schools. So much that it would take a minimum of a decade to go through it all.
2: There is at least a 100 advisories, newsletters and recommendation services....etc...
To try them all would take many years and 10's of thousands of dollars.
3: There is a lot of different trade vehicles to choose from:
Stocks, Bonds, Currency, Futures, Options, Indexes....etc...
Each takes a kind of specialized knowledge and training.

I writing this because about 10 years ago, I was in a similar circumstance that you are in now.
My advice is, don't waste several years
(and 10's of thousands of dollars) going through all the information overload, time and expense that I went through.
Pick one trade vehicle to concentrate on that you are interested in.
Do all the studying you can about the subject.
If you can, find a mentor or trainer on the subject.
After you have the basics, paper trade it for a few months
until you can win at least 2 out of every 3 trades.
When you have consistant paper trading success, open a trading account with a deep discount broker who offers a
live trading platform ( example: Interactive Brokers).
Start very small on your trade size.
When you can prove to yourself that you can consistently be profitable with small trade sizes, very gradually and progressively increase size.


Jeff
 
Quote from jeffalvinson:

Jason,

The truth of the matter is,
there is roughly 72,000 Elite Trader website members, but less than 2,000 (1-2%) of them are actually making a full time living trading. (and that number is being generous).
Trading consistently successful for a full time living day after day, week after week and year after year, is probably the most difficult task you will ever attempt in your lifetime.
I personally believe that if you start from scratch attempting to be a trader, without a mentor, coach, or solid trading education, your chance of success is < 1%.
One of the problems a newcomer faces is
information overload:
1: There is hundreds of books, dozens of home study courses
and even some trading schools. So much that it would take a minimum of a decade to go through it all.
2: There is at least a 100 advisories, newsletters and recommendation services....etc...
To try them all would take many years and 10's of thousands of dollars.
3: There is a lot of different trade vehicles to choose from:
Stocks, Bonds, Currency, Futures, Options, Indexes....etc...
Each takes a kind of specialized knowledge and training.

I writing this because about 10 years ago, I was in a similar circumstance that you are in now.
My advice is, don't waste several years
(and 10's of thousands of dollars) going through all the information overload, time and expense that I went through.
Pick one trade vehicle to concentrate on that you are interested in.
Do all the studying you can about the subject.
If you can, find a mentor or trainer on the subject.
After you have the basics, paper trade it for a few months
until you can win at least 2 out of every 3 trades.
When you have consistant paper trading success, open a trading account with a deep discount broker who offers a
live trading platform ( example: Interactive Brokers).
Start very small on your trade size.
When you can prove to yourself that you can consistently be profitable with small trade sizes, very gradually and progressively increase size.


Jeff
More...

This is some of the better advice on this site.

ALWAYS REMEMBER it's about time in the markets. Success will NOT happen overnight. The key is to stay alive, solvent and hungry.

The way I like to think about is that trading for a living is like creating a masterpiece of a marble sculpture. Every chance I get I try to absorb as much information as possible, but the most important thing is that I stick with it and constantly and consistently chip away at it. Over time you will become a better sculptor and your masterpiece will take its form. Trying to take too big of chunks out at one time and fighting the nature of the stone will only lead to setbacks.

Trading is a constant work in progress of self-control, discipline and effort. Money is a renewable resource, but you have to some to make some.

Good Luck.
 
Quote from jason586:


3. I have a degree in statistics and minor in mathematics.
I am open to all constructive ideas and thoughts.......
More...

If you are good in statistics and math, you might want to start with options. I believe you have a good understanding of options since you have mentioned two of the best books in options.

However being good in math is not enough, you need to understand how the market works. Look at SPX Credit spread thread. I am not endorsing the strategy, but there is a lot of info.
 
Jason,

There is much good advice here.

The advice given by jeffalvinson and algorithm on this page is very good. I would summarize it as:

- it will take time
- focus on one method
- become profitable paper trading before u spend a cent of cash ... this is part of getting the patience you really need
- grow your size from very small to bigger very very slowly

Cashmoney who commented on the last page has learn't a lot over the past year and two of his threads are worth reading and rereading.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=93883&perpage=6&pagenumber=1
http://www.elitetrader.com/vb/showthread.php?s=&threadid=76477

You can find enough free techniques here:
http://www.trading-naked.com/Articles_and_Reprints.htm
The floor traders method can definitely be used as the basis of profitable futures trading.

Good advice here:
http://www.dacharts.com/articles.php
(see NQoos for basics although you don't need ensign, sierrachart is just fine and both work with the recommended ib feed.)

Some stuff you learn will need to be relearnt at various stages through your path. Don't forget Mark Douglas's psych stuff.
 
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