Newbie Trader

Quote from sKaLpZ:

Hey Sharwei, :)

Are you limiting yourself strictly to stocks, or would you consider trading currencies (forex)?

Because of the nature of global money (forex) being traded 24-hours a day, and having no commission costs, you can trade it on your off-hours, and get into it for less money than you can with stock-trading, especially if you ever want to sell a stock, SEC rules state you must have X-amount of liquidity/capital in your account.

We have no such rules in forex.

The forex market volume is 10-times bigger than the stock markets combined. We trade $2 trillion dollars a day.

You can download a free demo trading platform and learn forex trading at no risk of losing your money. The demo platform is the same as the real one.

Just something for you to think over....

Kindest regards,

sKaLpZ
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That is definitely something I would be interested in. Something I have even though about before. I am already over whelmed with all this information. But you have to start somewhere. What are these free downloadable trading platforms that you talk about? Where can I get them?
 
Quote from sharwei:

That is definitely something I would be interested in. Something I have even though about before. I am already over whelmed with all this information. But you have to start somewhere. What are these free downloadable trading platforms that you talk about? Where can I get them?
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Well, I never recommend any one particular broker because there are many out there for everyone's personal taste.

You may want to visit the Forex forums here on ET for more info. :)

Others have recommended sKaLpZ Currency Trading For Beginners in the journal section.

Kindest regards,

sKaLpZ
 
So, I see that some claim $0 transaction fees. How do they achieve this? Not by using a full service brokerage.

There is another thread that is talking about monthly out of pocket fees and many are saying they pay nothing for transactions.
 
Quote from sharwei:

Well I might be wrong, but I assume when you say 'trader' you mean 'day-trader'. I definitely don't have the experience or money for that.

I am not really familiar with all careers and positions in the financial world, but I have the desire to learn and be a part of it. I would assume stock broker, but if there are other positions that involve trading and learning about the markets in a more pressure filled, minute-by-minute role, then I would love to hear about them.
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Brokers don't trade they sell or fill orders. I don't think it is very pressure filled. It sounds like you want to be a trader. Firms will hire someone with no experience if they think you have the right make up for it. They will give you their money to trade with and possibly a salary, so there is no risk to you. "Pressure Filled, minute-by-minute, sounds like a day trader to me. IMHO thats what you should be looking for.

5yr
 
Quote from 5yrtrader:

Brokers don't trade they sell or fill orders. I don't think it is very pressure filled. It sounds like you want to be a trader. Firms will hire someone with no experience if they think you have the right make up for it. They will give you their money to trade with and possibly a salary, so there is no risk to you. "Pressure Filled, minute-by-minute, sounds like a day trader to me. IMHO thats what you should be looking for.

5yr
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I guess what I said can be understood as not wanting to be a daytrader. Actually that is what I would like to be, but not one from home. The only reason I said no, is because there is no way in hell anyone would take me seriously if they think I really think I can just say "well I want to be a daytrader" and then think I'll start tomorrow. I obviously have to be trained and put in hard work and effort. All fine by me.

I guess what I want to know is where to start in this journey. It seems like you must know people who know people who know people, etc. I actually know no-one that does this. So its mind boggling to me to understand where to start. Any advice?
 
Sharwei,

You sent me an email today asking questions...if you want an answer you will need to reset your ET account to accept return emails through the ET system.
 
Quote from da-net:

Sharwei,

You sent me an email today asking questions...if you want an answer you will need to reset your ET account to accept return emails through the ET system.
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Sorry about that. Didn't realize that was the default. I just changed it.
 
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