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johnstac
Registered: Feb 2006
Posts: 69 |
08-02-12 09:42 PM
I am a newb. Not in its purest sense as I have traded on and off for years but the only reason it was on and off was to recoup losses.
If your friend came into the market today with your $25K and no experience and insisted on trading something, what would you tell him to begin learning? There are many choices. Are there any that are easier to learn then others?
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oldtime
Registered: Jun 2011
Posts: 7356 |
08-02-12 10:08 PM
Quote from johnstac:
I am a newb. Not in its purest sense as I have traded on and off for years but the only reason it was on and off was to recoup losses.
If your friend came into the market today with your $25K and no experience and insisted on trading something, what would you tell him to begin learning? There are many choices. Are there any that are easier to learn then others?
what are planning on trading? Stocks? Forex? Commodities? ES? Options?
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oldtime
Registered: Jun 2011
Posts: 7356 |
08-02-12 10:17 PM
otherwise, I try to be nice to other brokers, but the min at interctive is 10k, so you have that covered, and that's who I would open with.
Plan on paper trading for 6 months
to each his own, but 25k is more than enough to trade forex at ib
start with just 25k units.
forex is very simple
the problem with other vehicles is 25k can be a little tight
ag spreads are also cheap
ask more specific questions and you will get better answers
not many make it trading ES regardless of how much they start with
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Wide Tailz
Registered: Sep 2011
Posts: 1519 |
08-03-12 01:10 AM
Quote from johnstac:
If your friend came into the market today with your $25K and no experience and insisted on trading something, what would you tell him to begin learning?
1. Deposit $5k with Thinkorswim / TDA so you can open a sim account
2. Pick up Trade Your Way to Financial Freedom, by Tharp
3. Follow the instructions in the book
4. Back test whatever ideas come up
5. Gamble away (lose) the $5k to respect risk management and the need for a system
6. When the sim account / back testing shows something that makes money, reload the account with another $5k and go live.
7. Rinse and repeat.
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BlueTurtle
Registered: Feb 2012
Posts: 553 |
08-03-12 02:11 AM
For 20,000 i can teach you what no book will ever print!!
The secret to trading. It has never been discussed here.
I have been perfecting this method for decades.
Then, take the 5,000 left and open up a sim account.
i will chat with you for up to one month after my training.
Then, and most important, get more money:
Because my part 2 course is 10,000 and it teaches the most important rules of all.....
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JuniorCTA
Registered: Jul 2010
Posts: 335 |
08-03-12 02:16 AM
Quote from johnstac:
I am a newb. Not in its purest sense as I have traded on and off for years but the only reason it was on and off was to recoup losses.
If your friend came into the market today with your $25K and no experience and insisted on trading something, what would you tell him to begin learning? There are many choices. Are there any that are easier to learn then others?
You might want to start by not trading at all for 1-2 years. Just pay for real-time/historical data and play with that until you find something that makes you confident enough to actually risk capital.
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