16 year old new to trading

Discussion in 'Trading' started by Rsoxs19, Jan 2, 2017.

  1. Zodiac4u


    When I first started working on the CBOT 4th floor many decades ago, I asked an old timer who had a seat on the exchange the same question. The only thing he said, was you have to be here. Now that the pits are a thing of the past, the only thing you can do is read good financial news papers, monitor prices and get to know the breath of the market. Learn the mechanics of platforms and chart by hand. Don't waste your time on how-to books. People who write books don't make money from investing, they make money selling material. Determine what kind of investor you want to be. Investing is as simple as turning on a light switch, the hard part is making money. Obsessing over prices at a time when you should be obsessing over higher grades. Keep your priorities in order, focus on school first and let this be a hobby for now.
    #31     Jan 3, 2017
    algofy likes this.
  2. That's super weird, 16 is time to have fun, you'll have time to earn cash later. Though I have to applause you.
    #32     Jan 3, 2017
  3. big mac

    big mac

    figuring out things is fun too..

    disclaimer: i got aspergers:mad:
    #33     Jan 3, 2017
  4. kent


    Do you think 10 is a good age to start learning about trading? And dhamma retreat for a 16 yr old? I would think meditation is good and it will be good if it started at earlier age but not sure how many Americans would be interested in sending their 16yr old to a meditation retreat.
    #34     Jan 3, 2017
    algofy likes this.
  5. I would suggest learn:

    1. The benefits of trading stocks vs futures market

    2. Learn the different styles of trading (discretionary, mechanical, or algorithm trading) traders perform to make money.

    3. Learn or read about the different ways to make money from step 2. Price actions, trend following, counter trend trading, math trading, flip a coin trading, scalp trading, etc.

    4. Pick a style

    5. Set a goal(s)

    6. Ask here for help.

    As others as said, heavily consider Computer Science degree with a minor in Stats and Math, if you are interesting in trading long term for a company. The benefits are great.
    #35     Jan 3, 2017
  6. algofy


    Agree it's weird....weird is good though.
    #36     Jan 3, 2017
  7. Read Reminiscences of a Stock Operator and Market Wizards first, to get an idea of how successful traders think. The books are dated, but general principles remain the same, regardless of what anyone else tells you. Beyond that you would be well advised to do your own research and find a path that suits you. That's when the journey begins. Good luck.
    Last edited: Jan 3, 2017
    #37     Jan 3, 2017
    Statistical Trader and algofy like this.
  8. qxr1011


    come on,

    heave you ever heard a guy in the constructions said that he is absolutely in love with the hammers? :)

    stocks are just the instruments ( financial)... nothing to love here really

    why a smart kid would want to sell his life for mere salary + bonus ??

    if you really into trading - dive in (forget about college and other crap like working for somebody, unless you want to eat :) )

    remember movie "swimming with the sharks"? - "Ask yourself a question: what do you really want?" one of the most profound questions, most of the people can not really answer it until they are in their 40th....:)

    to progress in big banks(and not only there) one needs to know how to deal with people (not with stocks): who to kiss in the ass, who to stab in the back...

    your trading ability is really irrelevant , what will be relevant are some chachkas [what college u attended, with what grade graduated (major is mostly unimportant)], most important will be the fraternity you belonged, who did you drank with, whom did you fuck with , what sports did you played and with whom.. etc, etc

    web sites are for morons who believe that there are people who know how to make money and instead of making them themselves teaching others to do so...

    to a degree...

    we all competitors,

    everybody building his own car to the future,

    but if you need a specific wrench you can ask here where to get it and how it works, if you looking for a blue print - good luck
    #38     Jan 3, 2017
    ValueNGrowth, profitlocker and algofy like this.
  9. algofy


    I'm impressed with all the great advice for this kid....lots of good stuff here.
    #39     Jan 3, 2017
  10. This advice is sooooo good i feel like scrapping everything I'm doing and starting over.

    Definetly added those books to my list.

    Thanks Xela.
    #40     Jan 3, 2017
    Xela likes this.