What can I do to learn the most about the market?
- Thread starter MoneyMaker
- Start date
I certainly would not recommend Cramer's Mad Money for a beginner. While this may not be true, here on ET he has a reputation of being a stock pumper, meaning he pumps stocks on his show and manipulates the price of the underlying stock. The show is for entertainment purposes and although you can learn some things, its best to do so from a less bias source.
I would recommend reading Cramer's Confessions of A Street Addicts book though. Cramer describes the way hedge funds play the game.
Totally disagree with this recommendation. Definently read books and gain some knowledge before you put real money on the line. Books won't guarantee success, but they are a start. Then paper trade, even though it is not 100 percent realistic. Finally, use your own money to trade and take very little risk. You'll probably still lose, but if you learned all the discipline and psychology aspects that books told you, you will not blow your account as quickly as if you hadn't.
The longer you trade with real money, the better your chances at becoming a profitable trader. Definetely take precutionary steps before trading with real money though.
Actually I was talking specifically about the Wizetrade program (I thought that entering it in the subject line would get it inti the message.) Does anybody have an opinion on Wizetrade? As I say, there was a majority of negative comments in 2002, but the product has been continuously on the market since then, so maybe it works after all.
And then do the opposite of what he (cramer) says...
(b/c he is a bagholder: Problem Set #1: define what a bagholder is, give examples, and explain the reasons for the existence of bagholders... etc). Problem set due tomorrow 3PM EDT. No extension is allowed.
"maybe it works after all" sure. For Wizetrader who is the owner of wizetrade
I do not think the kid is cut for that stuff, as he seems to be in a hurry to make money.
read some books, look at charts, get a live data feed going and watch it day after day.
im new and that's what i did and learned the basics in a few months. i dont recommend websites to paper trade on. they arent realistic and too slow. i would enter and exit trades as if you were doing them in real life via a live data feed (dont fudge the prices either...be real). keep a journal of your trades (reasoning of why you took the trade and why it the outcome was good/bad).
then, start trading with real money and watch how everything you learned doesnt work.
im new and that's what i did and learned the basics in a few months. i dont recommend websites to paper trade on. they arent realistic and too slow. i would enter and exit trades as if you were doing them in real life via a live data feed (dont fudge the prices either...be real). keep a journal of your trades (reasoning of why you took the trade and why it the outcome was good/bad).
then, start trading with real money and watch how everything you learned doesnt work.