I am new to daytrading....just need a little help

SoCalHeli · Mar 4, 2004

I am brand new, just graduated college and have a decent bank roll behind me. where can i go to read up and what are my options. I would appreciate any help. Thank You very much in advance. I look forward to joining your discussions in the future.

socalheli@hotmail.com

steve46 · Mar 4, 2004

Read "New Traders Thread" first. Search Journals. Take it slow. Good Luck, Steve46

SoCalHeli · Mar 4, 2004

thank you steve, i saw someone mention a simulator...can you point that out to me too please. thanks

prox · Mar 4, 2004

Read read read read

get a live feed and watch charts every day ..

do not trade, do not buy courses or pay for some monthly chat room service..

You'll want to get as much screen time and knowledge before even thinking about trading, making your learning process as cheap as possible.

Expect it to take a minumum of 1-2 years before you even have a fighting chance.

SoCalHeli · Mar 4, 2004

what charts should i be looking at? and what will i be looking for? i hope i am not annoying anyone, but i am just trying to learn. i just want a good place to learn. thanks

socalheli@hotmail.com

prox · Mar 4, 2004

A lot of people watch the ES futures contract, which is highly popular among daytraders. For learning purposes though, watching the QQQ or a very active stock should be just as good.

woosterboy · Mar 4, 2004

Hi SoCal,

Saw your other post too, agree with the read, read, read post.

There are a ton of good books out there and twice as many useless, you may want to check out www.traderslibrary.com , look around there a bit and when you have a list of books you think look good, go to Amazon and pull each one up, check out the reviews from customers to narrow it down a bit.

Mecro · Mar 4, 2004

SoCal,

No offense whatsoever but you seem completely clueless. Which is not too bad since you are completely openminded.

I would personally suggest joining a prop firm, putting down the absolute minimum and getting as much experience as you can. At the worst, you will lose whatever you put down.

You do not want to be making mistakes with your own money.

BA_Trader · Mar 4, 2004

If you have the patience to learn from the top down I suggest
studying "Technical Analysis of Stock Trends" by Edwards and
Magee. It will lay a nice groundwork of understanding for you.

J

grimer11 · Mar 4, 2004

imho......focus on a market or markets which really interest you ....become comfortable, and hopefully an expert in interpreting that market....expand your interests, and learning experiences to other markets when it seems you can be more comfortable and profitable as your interests lead you.....I wish you the best of luck.

grimer11