One more thing, don't mess with cash forex. I lost my initial trading stake in this my sophmore year of college. It is very tempting because of the low margins and 0 commision rates. They have other ways of collecting there money from you though which you can read about in other posts on this site. Good Luck
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What should I trade???
- Thread starter rateesquad
- Start date
Given what I know now, I wish someone had shown me how to trade options when I was still in your position.
I prefer options because of the versatility. With this versatility comes a pretty steep learning curve though. I also like the fact that an options trader can be successfull with a small account.
Anyway, I wouldn't jump into options with your entire account. Options work great as a supplement to any investment/trading strategy. Take the time to learn them. It sounds like you have barely scratched the surface. You have plenty of time though.
I prefer options because of the versatility. With this versatility comes a pretty steep learning curve though. I also like the fact that an options trader can be successfull with a small account.
Anyway, I wouldn't jump into options with your entire account. Options work great as a supplement to any investment/trading strategy. Take the time to learn them. It sounds like you have barely scratched the surface. You have plenty of time though.
Cache, thanks
Well I know the basics of options long calls/ puts, short puts/calls, straddles and others I am trying to get as much books out of the library as possible to learn options and other types of trading........also i just started to learn about greeks and volatility, ofcoarse I still need expirence with trading options becouse i never traded them yet but thats why I am going to use paper trading at first and get the fill for it........ thanks again.
Well I know the basics of options long calls/ puts, short puts/calls, straddles and others I am trying to get as much books out of the library as possible to learn options and other types of trading........also i just started to learn about greeks and volatility, ofcoarse I still need expirence with trading options becouse i never traded them yet but thats why I am going to use paper trading at first and get the fill for it........ thanks again.
Have a scholarship thats why I am trying to do something with the money, plus I have tons of time on my hands, just finished with wrestling in high school. Stocks are fun but I want to learn more "Knowledge is power" and also maybe options and futures or even forex can move around more than stocks thus giving it more exitment, stock were fun 1999 before the internet bubble or so I read.
Thank you for posting all of our insides are very appreciated
Thank you for posting all of our insides are very appreciated
I would say you need to pick one and stick to it while you are still a beginner. diversifying into different types of products will only confuse you at your early stages.
So say at this time, you know equities the most. Stick with it and develop your risk management to near perfection. Once you have a solid risk management style you can move onto other products and explore a variety of strategies and opportunities.
Without solid risk management, you WILL fail no matter what you trade. And you cant easily develop a SOLID risk management style unless you pick one product i.e. equities, options or futures and stick with it for a while.
Your question shouldnt be what to trade but what and when not to trade.
Account size isnt an issue as far as you have a deep discount broker.
good luck
So say at this time, you know equities the most. Stick with it and develop your risk management to near perfection. Once you have a solid risk management style you can move onto other products and explore a variety of strategies and opportunities.
Without solid risk management, you WILL fail no matter what you trade. And you cant easily develop a SOLID risk management style unless you pick one product i.e. equities, options or futures and stick with it for a while.
Your question shouldnt be what to trade but what and when not to trade.
Account size isnt an issue as far as you have a deep discount broker.
good luck
True....and I know what you are saying but my equities strategy is pretty much good and I just want to explore more
my first year of trading I had only gained 15% becouse I was investing and listening to over-hyped Jim Cramer
Now my second year and part of my last year I learned how to swing trade from Dave Landry (nice guy), I had learned fib, pivot points, candle sticks patterns, regular patters and so on.(So far as of my second year since JAN I am up around 30% thanks to my last trade on ATI which gave me about 10%)
Ofcoarse I am not saying that I am a professional becouse I AM NOT one and probably wont be for years to come but I try to trade as much as possible and learn more. Thus I also wnat to learn more in other areas as well i.e. future, option, forex, ect.
Well Thanks again for clearing things up
my first year of trading I had only gained 15% becouse I was investing and listening to over-hyped Jim Cramer
Now my second year and part of my last year I learned how to swing trade from Dave Landry (nice guy), I had learned fib, pivot points, candle sticks patterns, regular patters and so on.(So far as of my second year since JAN I am up around 30% thanks to my last trade on ATI which gave me about 10%)
Ofcoarse I am not saying that I am a professional becouse I AM NOT one and probably wont be for years to come but I try to trade as much as possible and learn more. Thus I also wnat to learn more in other areas as well i.e. future, option, forex, ect.
Well Thanks again for clearing things up
The most important thing i'd suggest and it goes with the solid risk management advise is to make sure you are using the right broker i.e. cheap commissions especially if you get into options and futures.
Big mistake i made when i was first starting out was to develop my trades around the commissions i paid. I tried to trade bigger since minimum commissions charged per trade were eating too much of my profits and significantly increasing my losses for that matter.
Big mistake i made when i was first starting out was to develop my trades around the commissions i paid. I tried to trade bigger since minimum commissions charged per trade were eating too much of my profits and significantly increasing my losses for that matter.
Thats I true also and thanks for the inside would you please tell me why you rather trade futures and options trying to find out what suits me best.
thx
thx
Ah Futures.... a really nice way to blow a lot of money in an insanely quick time.
Stick with Equities.
You said "Knowledge is Power". That might be true in life, but in trading "Experience is Power" is an even more correct term. Also things like emotional control and such.
Good luck to you though.
Stick with Equities.
You said "Knowledge is Power". That might be true in life, but in trading "Experience is Power" is an even more correct term. Also things like emotional control and such.
Good luck to you though.