how do i learn how to trade?

[Xela]

You can learn the basics and even some advanced trading stuff here for free.

You can if you already know enough to identify all the misinformation and mistakes there, perhaps. They have a large number of members who intermittently start threads off in their forum drawing the Admin's attention to some of the more blatant mistakes and misinformation on their "education" pages, but unfortunately it appears that they're all consistently and completely ignored - the misinformation there is exactly the same now as it was more than a decade ago, when I (briefly) tried to use it. There's some good information there, as well, for sure, but in practice the people who need it most are (for obvious reasons) exactly the ones who are unable to distinguish between the two.

I have no idea. where do I find the proper educational materials etc? how did you learn how to trade?

As I explained here.

 

[SoesWasBetter]

Oh yeah.

Find a mentor that actually makes money in the market.

That will take you forever , so you'll save a lot of money from losing as a trader plus the ripoff fees they charge.

No need to thank me


Love these guys telling you to 'find a mentor'

I hear some guy named Tim Sykes owns a lot of yachts , not from helping anyone, but from mentoring.

 

[tdeu]

for E-mini
just google Al Brooks 1st book, can find a PDF and start from there

or this blog is free and is more or less the same style as Al, but much easier to digest
http://ninetrans.blogspot.de/

some daily E-mini charts
https://plus.google.com/u/0/collection/EK_yfB

 

[digitalnomad]

If you’re talking intraday, you have to understand order book dynamics inside and out, and then figure out how to apply the math to it, all within a volatility based contextual model. Very hard puzzle to solve on your own without crossing the brink of insanity.

If you want to trade overnights, order book dynamics become irrelevant, but applied math and context will still be required. Less variables, but chance of success is still near zero. Also, your leverage is halved, and risk increases substantially.

My advice would be to run far away from trading, unless your time, family, and money are disposable.

 

[comagnum]

Learning trading is like learning how to drive a car or playing a musical instrument, you learn by doing.

Trading requires a great deal of independent thinking, constant problem solving, perseverance, and creativity. Courses & books are mostly sold from failed traders that became promoters/teachers.

The only people I wanted to learn from were the Jim Rogers, Paul Jones, Soros, Livermore, etc types - traders with decades of experience that are undisputed masters at it. You can learn more about these traders from buying a few used books & searching on-line. None of them are day traders - your best bet is to steer clear of that, the rare few that do well in that arena typically learned from other pros working at hedge funds or institutional trading desks.

You can also learn a great deal from 'Chat with traders' it's free and you can find out what top traders learned along the way and what strategies/mind set they all have in common.

 

[IndyJonerJr]

Trade what?

Stocks? Forex? Options? Futures? Commodities? Indices? ...

Here is my best suggestion. You start raw. And that means feeling the pain of beautiful experience best served minus cash.. seriously the best way to learn something is without a single clue. Then you be aware and observe. That’s how you learn what to do and what NOT to do.

This sounds stupid. But who is the expert on chimps? Jane Goodall. Why. She went in knowing nothing and was open and came out a “pro”. Same with Steve Irwin. He knew more then most any animal behaviorist, because he watched and observed with hands on experience. While he was getting a bite from a snake. People were in a class learning about that bite....

So how do you do this. You burn yourself with one stock or option or whatever you want. Then you fine turn your style as everyone is different. Watch. Be open. Observe. And then apply those mistakes and learn from them. They are the best teachers. As you get more comfortable open the trades bigger.

You can read all the books you want but a real experience will teach you 100 times quicker and more tunes to you. Not what someone else does or wants to do..

This is my opinion also is you should read some finance behavior books and some classics as if your trying to beat the steeet or become the next Buffett. It’s cirtually impossible to do it for long..... but who am I to tell you. Just also know fact from fiction as everyone thinks they can become the next billionaire day trading. NOPE you’re virtually guaranteed to become the next homeless give I give a $20 to is what the statistics say. Basically trading is like a drug or the same effect. It’s why we do it.




If I were to have a conversation with most traders. I don’t know any of the lingo. But I know the price movements I need to know and what to watch for on my app. It sounds stupid but I know what I need to know. I would appear stupid as I don’t even know what some of the numbers actually mean in my account but I know where they need to sit and where I get in trouble or not. And that’s from experience and learning.

 

[Handle123]

Day trading=name one trader who made a billion dollars doing it.

I don't know of any, does anyone know one?

You can make mistakes in longer term trading and still make profits, bull market is a bull market and normally rises 2/3rds of the time, markets in bear markets usually drop like boulders and faster. Most people don't have a clue of the "why's" of price movement as it is, but when you discover it, then you can do very well. To do well trading, it is more study on your own, most go towards indicators and they have their place as easier to use for automation, but to really learn well how to trade, you have to go with the basics-learning to read charting and price action within. If you wanted to drive a car from Otay, Ca to Bangor, Me and not use any interstates, you need to have a map and perhaps a map of each state to know which roads to take, a chart is exactly like a map, shows what is there. The more you study, you can draw trendlines and search for patterns. Like directions for your "drive" in a car, trading requires a trading plan of how you going to get to placing orders and risk management, risk management is most important. No rush to open an account until you do a demo account and triple it, three separate times.

Books that @Xela recommended above are excellent.

There are billionaires that made it in long term trading.

 

[Robert Morse]

Day trading=name one trader who made a billion dollars doing it.

Steve Cohen.

 

[lawrence-lugar]

Day trading = name one trader who made a billion
I don't know

There are billionaires that made it in long term trading

Talking about a making a Billion dollars in a retail trader forum online sounds so amateurish and absurd.

99.7% of people here would murder someone to be able to make a million in the market.
Heck, maybe just even $100,000.

Hedge fund managers got rich managing other people's money for management and performance fee's.
Any fool can relatively do that...given enough time for the compounding effect to really hit the fan, and truly make a shit load.

2018 ET.
I feel so normal, and heavenly...ever since I gave up drinking coffee and tea for Gatorade. You should try it, East Texas.

 

[Handle123]

Talking about a making a Billion dollars in a retail trader forum online sounds so amateurish and absurd.

99.7% of people here would murder someone to be able to make a million in the market.
Heck, maybe just even $100,000.

Hedge fund managers got rich managing other people's money for management and performance fee's.
Any fool can relatively do that...given enough time for the compounding effect to really hit the fan, and truly make a shit load.

2018 ET.

Your post sounds "amateurish and absurd".

You don't even have a clue of what I was discussing, there are more people who do well at long term trading than intra-day, failure rate much much higher intra-day.

Have news for you, there are Hedge fund managers in this forum, there are brokers, bet most of the robots are connected to some automation programming for either ideas or even systems.

You think there are many hedge fund managers making a billion a year? LOL

You have any clue what so ever how hard it is to make billions from fees? You realize at all how many people you have to employ for back office, are you going to do the interviews on hiring 2,000 plus people? Then you need to understand risk management, you think you going to be able to swing millions of shares of Tesla without making the market move? And spitting out "dark pools" not the answer when brokers don't have enough shares.

You think no one thinks about making larger sums here?

Compounding??? LOL How many years of compounding, not going to be able to do it in futures, brokers at some point will increase margins as more you do become a huge risk to them, and exchanges won't let you be like Hunt brothers. So that means going to have to trade around the world and more employees.

People have to have faith in the manager(s) a number of years, perhaps couple of decades of him putting in 60-100 hours a week to produce, cause if he loses, makes nada and people redeem, people redeem even when you are doing well.