i am new, where is a good starting point?

RAMOUTAR · Mar 4, 2004

Quote from SoCalHeli:

as the topic says, i am just getting into trading short term, what should i look for, what should i read? where should i go for more info...thanks in advance.

socalheli@hotmail.com

Check into some of the frequent posters here. You've come to a good place to start (ET).

There are a trillion posts here. Books?

PM me...I'll lend you some for two-weeks (hold on to your money)

SoCalHeli · Mar 5, 2004

well i got a couple of books, i guess it is time to read them and follow the posts. thank you for all of teh replies.

rowenwood · Mar 5, 2004

Take 10% of your portfolio and put it to the most brilliant and dangerous risks you can come up with.

If you loose you're better off than if you win. Unless of course you're so in control of your emotions and so dedicated to a good strategy that you only win.

Get yourself a gut wrenching loss out of the way. Chalk it up as an integral part of your education in risk management. Know your intellectual, and especially your emotional, capabilties and flaws.

gms · Mar 5, 2004

I've got a question for you. If you're just getting acquainted with all this, then how is it that you already know what type of trading you seek to do?

ElCubano · Mar 5, 2004

Quote from rowenwood:

Take 10% of your portfolio and put it to the most brilliant and dangerous risks you can come up with.

If you loose you're better off than if you win. Unless of course you're so in control of your emotions and so dedicated to a good strategy that you only win.

Get yourself a gut wrenching loss out of the way. Chalk it up as an integral part of your education in risk management. Know your intellectual, and especially your emotional, capabilties and flaws.

brilliant.... by far the hardest thing to learn....why losing money is not a bad thing...

rowenwood · Mar 5, 2004

thank you El.

SoCalHeli · Mar 5, 2004

Quote from gms:

I've got a question for you. If you're just getting acquainted with all this, then how is it that you already know what type of trading you seek to do?

gms, i have been trading through a broker for years, he has been pretty good to me and teh fees have not been that bad. but i just want to do a little bit more on my own on the side. i am not quite sure what kind fo trading most people here do, but i have been on the buy and hold strategy and its been working out. i just want to take more risks now with money that i am not too concerned about. but dont get me wrong i dotn want to be stupid and wreckless. i am just experimenting. thanks

Grizzly Trader · Mar 5, 2004

Quote from SoCalHeli:

gms, i have been trading through a broker for years, he has been pretty good to me and teh fees have not been that bad. but i just want to do a little bit more on my own on the side. i am not quite sure what kind fo trading most people here do, but i have been on the buy and hold strategy and its been working out. i just want to take more risks now with money that i am not too concerned about. but dont get me wrong i dotn want to be stupid and wreckless. i am just experimenting. thanks

It is an error to think of trading as a risky investment strategy as in "... i just want to take more risks now with money ...". A good trader will have little trouble outperforming buy and hold and can do so while greatly limiting the size of draw downs.

How did you do in the recent bear market?

A lot of people may be drawn to trading by greed as a shorter time frame offers more potential performance then a longer time frame, but it is wise to also look at how trading behaviors can reduce risk. The simple act of stepping aside to preserve capital while the market is in a bear move will do wonders for your your return while reducing your risk.

Regards,
Griz

SoCalHeli · Mar 5, 2004

Quote from Grizzly Trader:

It is an error to think of trading as a risky investment strategy as in "... i just want to take more risks now with money ...". A good trader will have little trouble outperforming buy and hold and can do so while greatly limiting the size of draw downs.

How did you do in the recent bear market?

A lot of people may be drawn to trading by greed as a shorter time frame offers more potential performance then a longer time frame, but it is wise to also look at how trading behaviors can reduce risk. The simple act of stepping aside to preserve capital while the market is in a bear move will do wonders for your your return while reducing your risk.

Regards,
Griz

griz, can you elaborate more on : "A good trader will have little trouble outperforming buy and hold and can do so while greatly limiting the size of draw downs."

thank you.

Pabst · Mar 5, 2004

I'll save you several grand right off the bat. Go to Vegas. Free drinks, shallower drawdowns, memories that will last a lifetime.