Hi, ET. I´m a beginner and need some advice.

[ShinySox]

And one more question. How do I use math in stocktrading?

 

[Lornz]

A fellow Norwegian, eh?

What markets are you trading? Stocks or futures?

By the way, are you attending BI or NHH?

Feel free to PM me...

 

[HedgefunTrader2]

Quote from tradeavenger:

Trading is about power. The power to win no matter what the market does. If you got unlimited buying power winning is a piece of cake. That's why 90 percent of small traders lose. They just lose.

Are you EMG?

 

[joneog]

Quote from ShinySox:

Hi, ET!

I am new to ET and trading, so I just want to introduce myself first.

I am 19 years old and I study finance at the moment. I find trading very interesting and dream of a job as a fund manager/daytrader and maybe a investor later if I succeed.

So, when I first enter the world of trading few days ago I read much about technical analysis and use this to find triggers. My first day I made really good profit. I started with 2000 NOK(not much, but I am a student), and ended with 3000 at the end of the day. Next day I made it to 5000 NOK. I thought I was king, and could make much more money!
Then, yesterday I entered the marked once again and started to lose money because I did not stick to the plan. I got nerves and desperate to get my money back. But I just lost more and more. And now I am sitting with only 1000 NOK. Its horrible. I was stupid who thought I was good enough to daytrade.

So now I want to do much research before I start trading again, because I am afraid to enter the market without knowing how to do it. When I did technical analysis I bought when it breaks the resistance line, but it just fell down even more and made huge losses for me.

-So could some of you guys give me some advice where to start?
-What kind of strategy and style of trading do you use?
-What are the triggers you are looking for to know when to enter?
-Is daytrading about only looking at price and trends, or is news and volume important too?

Would be grat if I got much advice where to read tips and how to be better as a trader!

Thanks!

Trade smaller and accept the losses. It ain't easy, no one is going to give you the magic beans. You're better off just watching the market - taking the losses if you're in - until you get a feel for it. You have to find the strategies and triggers yourself.

 

[tradeavenger]

Quote from HedgefunTrader2:

Are you EMG?

No but I share his view on small traders. They lose. They just lose. But I know one small trader guy who trades in bed and he win, just win. His trick is being in bed he can relax and wait for the moment not force trades.

 

[Bob111]

Quote from ShinySox:

And one more question. How do I use math in stocktrading?

aaa....mmmmm...to calculate % change for example..or to calculate your profits and future tax obligations

here(scroll down)

http://www.financialwebring.org/gummy-stuff/gummy_stuff.htm

 

[Bob111]

Quote from tradeavenger:

No but I share his view on small traders. They lose. They just lose. But I know one small trader guy who trades in bed and he win, just win. His trick is being in bed he can relax and wait for the moment not force trades.

then why you are here since 2006?

 

[jokepie]

give ur self a screen time of 3-4 yrs..read all you can - books : articles.

understand the macro economic cycles and relations to makets and stock valuations.
study behavioural finance and get urself away from trading real money at once.

Oh yes - get a mentor now. Loook for them and if you are honest and persistent about it - you will find one. They can help point out the mistakes you are going to make. It does not mean that you won't make them - YOU WILL. But atleas it will cost you less frustration and money.

And yes - its not day trading > swing > position; the progress must be in the opposite. Day trading is the toughest (requires - multitude of skills).

If you cannot answer the following question properly - do not trade real money.
Q: What is trading and how can some one make money from it.
A: You will know it , whn you will find out.

Guru

 

[tradeavenger]

Quote from Bob111:

then why you are here since 2006?

You got me. I am the small trader that will survive to become bigger...Bwaaaaaaaaa! Also I need to trade, it's a substitute for video games which I must to do once in a while.

 

[Bob111]

Quote from tradeavenger:

You got me. I am the small trader that will survive to become bigger...Bwaaaaaaaaa! Also I need to trade, it's a substitute for video games which I must to do once in a while.

that's cool..as long as posters are honest(assuming you are)-i have no problem with their goals\expectations from ET