Still in College - Any Advice
- Thread starter Rex32
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Well, trading requires nothing but a internet connection and a broker. It's not a matter of how smart you are, it's a matter of dumb you are.
Why would A finance major want to day trade? (Wait, I am one
)
Get into a nice firm, make some good cash, then trade. The best way to become filthy rish is to develop contacts and impress people with the amount of knowledge you have.
Good luck my friend!
-Kastro
Why would A finance major want to day trade? (Wait, I am one
)Get into a nice firm, make some good cash, then trade. The best way to become filthy rish is to develop contacts and impress people with the amount of knowledge you have.
Good luck my friend!
-Kastro
I'm already working on my contacts, a few of my friends growing have parents who are high up in decent firms. One friend's dad is the CEO & President of a smaller investment protfolio place.
I'm just getting sick of waiting around being broke, I want to get out into the real word and make some money!
Mike
I'm just getting sick of waiting around being broke, I want to get out into the real word and make some money!
Mike
Good books to get you started are:
1. An idiots guide to day trading like a pro
2. Come into my trading room
3. The disciplined trader (I dont own it though)
4. A beginner's guide to day trading online (somewhat outdated but still informative)
5. Investopedia.com and stockcharts.com
paper trade for a while. give yourself like 15k and do fun, stupid, smart, crazy things and see how the market reacts. Although you probably wont find your style of trading until you use real money, at least thats how it was for me.
- nathan
You WILL, when you are done school you will make loads of money. Please do not think that trading is the path to income while in school. Chances are you will lose money right off the bat!
-Kastro
You said a couple pages back that your trading would be "more of a hobby."
If this is the case, I'd recommend that you try longer-term trend-following. After you learn a successful approach, it consumes very little time compared to short-term trading. I'm inclined to think that it's probably easier: the more you trade, the sharper your edge has to be to pay for commissions/spreads and still have something significant left over. Don't confuse activity with success.
Here are some books to read:
All 3 market wizard books (you'll enjoy them and they should motivate you)
Reminiscences of a Stock Operator
Secrets of the COT Report (this book isn't nearly as popular, but I've never seen anything work so well as the use of extreme readings in the COT report)
If this is the case, I'd recommend that you try longer-term trend-following. After you learn a successful approach, it consumes very little time compared to short-term trading. I'm inclined to think that it's probably easier: the more you trade, the sharper your edge has to be to pay for commissions/spreads and still have something significant left over. Don't confuse activity with success.
Here are some books to read:
All 3 market wizard books (you'll enjoy them and they should motivate you)
Reminiscences of a Stock Operator
Secrets of the COT Report (this book isn't nearly as popular, but I've never seen anything work so well as the use of extreme readings in the COT report)
Hmm.. after reading this thread, I think I'll stick with biochemistry and buy 15 shares of MSFT on the side as a hobby (whenever I have extra cash of course).
Good advice, I'll thank you folks later.
Good advice, I'll thank you folks later.
Most of these books are terrible, don't waste your time reading them. They are good for learning how the masses trade and what magical indicators they use.
My recommendations:
The Futures Game: Who Wins? Who Loses? Why? (Paperback)
An Arbitrage Guide to Financial Markets (The Wiley Finance Series)
The Alchemy of Finance
Hot Commodities : How Anyone Can Invest Profitably in the World's Best Market (Hardcover
I'll tell you the same thing I told my daughter . . . bring me a Masters Degree in the field of your choice and I will teach you how to trade . . . .
Real life experience is too hard to come by. Give yourself a chance to grow up and have fun before you start to apply pressure to your brain.
Oh, she is getting her degree in Fashion Manufacturing and having a blast. BS completed in July . . . MS next year. Now she is thinking about a Ph.D.
Real life experience is too hard to come by. Give yourself a chance to grow up and have fun before you start to apply pressure to your brain.
Oh, she is getting her degree in Fashion Manufacturing and having a blast. BS completed in July . . . MS next year. Now she is thinking about a Ph.D.