Novice needs trading clues

bm12 · Apr 4, 2006

I am new to trading and i need some help- there is so much info about trading out there, it's overwhelming. I'll probably start with about 10k, so can anyone recommend a broker and a trading software for a beginner. Also, are there any(useful) web courses that i can take.
Has anyone taken Traders international's Times course on how to trade e-minis- is it worth the $5000. Also, i'd like to hear pros and cons regarding Esignal and Medved QT...any help is greatly appreciated
thanks
bj

Bitstream · Apr 4, 2006

omfg, yes, by all means, give half of what u got to a shiller, best way to go nowhere fast.

JMowery1987 · Apr 4, 2006

Quote from bm12:

I am new to trading and i need some help- there is so much info about trading out there, it's overwhelming. I'll probably start with about 10k, so can anyone recommend a broker and a trading software for a beginner. Also, are there any(useful) web courses that i can take.
Has anyone taken Traders international's Times course on how to trade e-minis- is it worth the $5000. Also, i'd like to hear pros and cons regarding Esignal and Medved QT...any help is greatly appreciated
thanks
bj

Yes, there is that one trading course online where....... oh wait, no no....

Ummm, there is that other trading course, oh yeah... wait, that one was a scam too.

Hmmmmm, 10k, well, hope you can afford to lose it.

Yeah, that's about all

eSignal does not deserve new customers, just you keep that in mind and I would not advocate going to them. ProphetX is looking promising.

QuoteTracker I'd recommend before eSignal.

mizer · Apr 4, 2006

Quote from JMowery1987:

Yes, there is that one trading course online where....... oh wait, no no....

Ummm, there is that other trading course, oh yeah... wait, that one was a scam too.

Hmmmmm, 10k, well, hope you can afford to lose it.

Yeah, that's about all

eSignal does not deserve new customers, just you keep that in mind and I would not advocate going to them. ProphetX is looking promising.

QuoteTracker I'd recommend before eSignal.

I see the bitter loser traders are coming outta thier moms basement tonight:eek:

JMowery1987 · Apr 4, 2006

Quote from mizer:

I see the bitter loser traders are coming outta thier moms basement tonight:eek:

???
.... uh.... okay

Thanks Mizer, you made me realize how much of a loser I am.

Glad to have your constructive and productive comments anytime

Quote from mizer:

I have been full time daytrading for about 4 months now and only trading 100 share lots myself

*Let that quote speak for itself*

You're a real winner while I'm a loser. Well, good job my friend.

"Stupidity, a side effect of stupid people, go grab a Snickers"

murray t turtle · Apr 4, 2006

Quote from bm12:

I am new to trading and i need some help- there is so much info about trading out there, it's overwhelming.

I'll probably start with about 10k, so can anyone recommend a broker and a trading software for a beginner. Also, are there any(useful) web courses that i can take.
Has anyone taken Traders international's Times course on how to trade e-minis- is it worth the $5000. Also, i'd like to hear pros and cons regarding Esignal and Medved QT...any help is greatly appreciated
thanks
bj

=====================
B-m12
It is confusing @ first, but with time 60 minutes thru 76 +year charts make sense;
glad i learned mostly with stocks, they're more forgiving ,& kind than derivatives.

If you are determined to trade emini type contracts,
Chicago BOT & CME has some helpful education,
just dont believe the BOT traders comparing CME traders to seagulls

BOT does have some excellant education,also free.

Both Esignal & Medved QT have free trial/free stuff.
Wisdom is profitable to direct. For lots less than 5k you can get a library/library card.

William O Neil, Jack Schwager, Dr.Van Tharp are some of the best books written ;
also click books top green line this page.

JMowery1987 · Apr 4, 2006

Quote from bm12:

I am new to trading and i need some help- there is so much info about trading out there, it's overwhelming. I'll probably start with about 10k, so can anyone recommend a broker and a trading software for a beginner. Also, are there any(useful) web courses that i can take.
Has anyone taken Traders international's Times course on how to trade e-minis- is it worth the $5000. Also, i'd like to hear pros and cons regarding Esignal and Medved QT...any help is greatly appreciated
thanks
bj

Oh yeah, btw, read Trading in the Zone by Mark Douglas. It helps..... a lot.

wareco · Apr 4, 2006

As far as a broker/trading platform for a novice, check out Interactive Brokers or Tradestation. IB is the big kid on the block, and tradestation I believe has charting integrated into its trading platform, so that may cut down on overall cost by not needing a third party data vendor.

Also, check out my 2nd post on this thread. http://elitetrader.com/vb/showthread.php?s=&threadid=66764

Use a simulator first. Unless you have some tradeable edge you are unlikely to make any consistent money trading futures, and most likely will eat through a good portion of that 10k.

Also, checkout this website. http://www.instituteofauctionmarkettheory.com/index.cfm

Bill Duryea, is a good guy, and definitely makes consistent money trading the ES. His room used to be free, but now he has, I believe a 2 week free trial, and then I think its $100/mo. I am not affiliated with him, nor a current subscriber. I have spent several weeks in his room in the past, and think a novice trader can learn from him.

Good luck.

P.S. I agree with the Trading in the Zone by Mark Douglas recommendation, although I think you can skip to chapter 6, and still get the good stuff out of the book.

mizer · Apr 4, 2006

Quote from JMowery1987:

I have a very small bank account as well. I have been trading for about 3 months, have lost a lot, but I can already feel I'm getting better. I have trades stocks, and also got into Forex as well.

I would like to aim to at least break even, still not at that point, but I'm getting there.

[/B]

Nuff said.......run along now and get ready for your bed time story

murray t turtle · Apr 5, 2006

Quote from Bitstream:

omfg, yes, by all means, give half of what u got to a shiller, best way to go nowhere fast.

===================
Trading is costly enough without going nowhere fast.

B-m12;

The ''brokers'' section @ top of this page helps;
I use OXPS broker,great- free charts/hi comissions,
& Interactive Brokers, more complex, but cheap comissions.
.