HAHAHAHA LOL I havent seen his chat room reviewed yet, either. Well, I don't do chat rooms especially paid ones but hey its only $7 so somebody ought to take one for the team here. Seems like a good guy. And my thinking is you will learn more from other visitors to a chatroom than from owner/host/moderator, anyway.Spend 7 bucks and try Ken Calhoun's site.
Then you can report back to ET and give us a review.
I am a complete beginner, where to learn day trading stocks?
- Thread starter XRSIL
- Start date
Are you really sure you want to get into this?
I have a LOT of books on day trading stocks. Lets see...
Random pick but it just happens to be the first book I read on the subject and a pretty good one. "How To Day Trade For A Living", by Dr. Andrew Aziz. Most books just repeat the same stuff more or less and most try to sell you courses and memberships and hot stock picks etc. Just buy the book, not the other stuff. This book is on Amazon so should be easy for you to get.
A few tips:
Work out a set of trading rules and stick to them, always. When you start freestyling it is when you make mistakes. Manage your money and your risk with a set of rules and stick to them, too. Don't trade on margin. Don't trade with money that you can't afford to lose. Its the same as gambling. Trade with money you won't miss if you lose it all. I am sure you can figure out why. Pick only ONE or TWO basic strategies and stick with them for the first year. Don't worry if you miss on a good trade. There will be others. Take a day or two off any time you feel like it. Don't get stressed. It's just money, you can always get more.
I have a LOT of books on day trading stocks. Lets see...
Random pick but it just happens to be the first book I read on the subject and a pretty good one. "How To Day Trade For A Living", by Dr. Andrew Aziz. Most books just repeat the same stuff more or less and most try to sell you courses and memberships and hot stock picks etc. Just buy the book, not the other stuff. This book is on Amazon so should be easy for you to get.
A few tips:
Work out a set of trading rules and stick to them, always. When you start freestyling it is when you make mistakes. Manage your money and your risk with a set of rules and stick to them, too. Don't trade on margin. Don't trade with money that you can't afford to lose. Its the same as gambling. Trade with money you won't miss if you lose it all. I am sure you can figure out why. Pick only ONE or TWO basic strategies and stick with them for the first year. Don't worry if you miss on a good trade. There will be others. Take a day or two off any time you feel like it. Don't get stressed. It's just money, you can always get more.
One of the biggest mistakes that a new trader can make is assuming that favorable market conditions they are initially experiencing, will continue to exist in the future.
The past 4 months are not at all representative of a normal market.
You should be putting your attention on furthering your general education. The markets will always be here later.
I am not that stupid to forget about general education and leave college. But what I learn there is not half as much interesting for me as analyzing stock markets. I’m studying engineering, and now I think I should switch to economics.
And I understand that last 4 months were quite odd. I mean all the logical stuff that should have happened, actually haven’t. And it’s even more interesting for me to understand why, so I read a lot about it. One friend of mine made 4500$ from his 500$ since March, cause he bought some stocks back in March after falling. The same time in March I was 100% sure that stock market will fall down more. And when it did not happen I was really interested and searched for reasons of that.
Sorry for my long messages, I’m just glad to talk to some experienced people. And sorry for my mistakes if I have ones
XRSIL,
Have a you noticed no one gave your concrete information on how they learned to trade professionally?
It is like the old saying "the blind leading the blind"
Spend the next 6-12 months researching who and what trading material you want to learn from. This effort will take time.
I did notice that, tho I asked exactly for some materials, still hoping for more, for now I have only one book, that someone recommended me here
XRSIL,
The reason no one responds with concrete information like "This is exactly how I became profitable consistent trader" is because:
1. They are not profitable
2. They do not want to send you down a rabbit hole because of the responsibility it takes giving you not good advice.
3. They are profitable and do not want you taking their resources they learned from. You will be added competition to there fill orders.
NOONE is giving game for free. I have been there and done that. You are going to waste time.
If you want help, you need to offer to pay people or do your own research. And invest your money in quality trading courses and training.
Asking where to learn to trade will give you many free answers.
The best I can tell you is go on youtube and start interviewing people who is selling courses. I know a few who I would invest in but, I rather you search for these things. I do not want to lead you down the wrong road.
Well, I understand all of this. But important thing to say is I understand that I am the only person who is responsible for my decisions, and I’m not going to blame anybody in my mistakes. Thank you a lot for your answer and suggestion.
Also I’m not asking for some staff like your strategies or some types of trading that actually works. I only ask for some good resources that give basic information, not something that will make you be able to earn a lot of money. Just something to understand stock markets. And after that, yes, I will do my own researches. I hope I will have some questions after learning all the materials, and then will have some ideas of what I can do to improve my trading system.
I am not actually that sure I will search for paid courses, cause all of them seems more like fraud than something legit. Now I will try to concentrate on literature and trying to get my own experience, I guess. This decision is mostly made on what people texted me in this topic. So thanks to all of you who answered
XRSIL,
Big mistake you are making here.
I was just like you 4 years ago and I am still unprofitable day trader and just now seeing the benefit of paid trading course. I am not losing alot of money anymore, but I am not winning either, because i still studying the course material and getting better. But I believe I am on the right track towards profitability, because I PAID for quality trading training courses and NOT trying to figure stuff out on my own.
I was just like you, no trading plan, no trading methods, no skills, just roaming the around the internet asking random people questions trying to figure things out on my own. BULLSHITTING around not want to invest in my trading career and seeking some one trick pony.
Go and pay for quality trading courses and training before you WASTE alot of good time.
Stop being cheap and pay money for trading skills.
I wish I had did this 4 years ago and not listen to people on forums saying paying for trading courses is rip off and fraud.
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