Want to Start Trading

Well what are some good books on futures and options and on trading? any advice on what books will guide me onto theright path? i am currently majoring in accounting and finance, so i hope what i learn there will help me in trading. What is the best online broker to use?
 
Quote from drwho101:

which is the best book on the market to read when coming to dat trading?
More...

What kind of trading appeals to you? Technical? Fundamental?

Do you think you want to begin by day trading? Have you considered swing or positional trading?

What markets appeal to you? Index Futures? Commodities? Equities? Options?

So much to learn. I'm sorry to inform you but your formal education will give you no edge in trading.

You need to ask yourself some questions. You seem pretty young so I'll tell you that IMHO you should start with equities and either swing trade or trade positionally. You should not trade to make a lot of money in the beginning, because more than likely, unless you are some sort of trading savant, you will lose it. The all time greats have certainly blown multiple accounts before finding consistency. Perhaps you're the exception.

Instead, I would focus on finding a system that fits your psychology and trade it with small money to gauge your self-discipline and emotions. How do you do this? Go to the bookstore and browse. Find a book that you like. Every trader has their own unique way of doing things. The "best" book on trading is subjective.

BTW, there is no book that will teach you how to trade successfully. They will teach successful methodologies. There is a huge difference.
 
Quote from drwho101:

Well im 20 years old and i want to start trading. So what advive do you guys have for me? how much should i start off with? how much can you really earn in a year? any advice?
More...

dont try this unless you have an income to support it . It will probably take 2-3 years of loosing money . Then if you have any cash after that you need at 50K-100k to make a decent living . Its a very difficult proffession . I am not loosing anymore but it was a very stressful journey financed by my fulltime proffesion .
 
I do have an income, i have a pretty good job, but i just want to have goos tools around me? are there any good books to check out? and websites? ive been paper trading and im doing pretty good.
 
First thing, learn the real arbitrage trading opportunities that exist in the market place. Such as indices, options and futures markets, etc.

Next read a few options books to realize the changes in volatility and interest rates effect on the market place.

Then finally ignore what should be happening in the market and locate anomalies. These anomalies are the big trading opportunities. Leverage them ! Trading should not be painful if so your doing it wrong.

Happy Trading

Greg
 
i have never traded stock so dont go only by me. But i think its better to trade indices or forex where you concentrate on 4-5 items and study chart patterns and setups. Each item has there own personality and you learn them after a while.

Then find 2 or so patterns and setups then add on as you get better. I have 4 patterns i follow and then study charts each night.

a good site for forex which i concentrate on where is www.fxstreet.com

Oh yes never take one of those $3000 weekend courses . they are a waste of money. Check out the classified forum lots of $3000 course selling for $100 .
 
You must log in or register to reply here.
Back
Top