21 and clueless

Discussion in 'Professional Trading' started by guntd, Sep 6, 2006.

  1. #11     Sep 6, 2006
  2. minmike

    minmike

    What kind of trading time frame are you looking for? Scalp, swing, etc.? Are you going to be sitting in front of a computer all day. All are things to cinsider which will affect the answer to your question
     
    #12     Sep 6, 2006
  3. For basic info into the tools and data for trading, try reading the technical analysis section of stockcharts.com and http://hardrightedge.com/tw.htm

    For the nuts and bolts of trading, like software, exchanges, order entry, games that locals/specialists/MMs play, tape reading etc. .. it really helps to be trained rather than try to learn yourself. That's where (safe, honest) prop firms come in.

    I would suggest the chart pattern encyc and the Market Wizard series to start instead of Reminiscences. Reminiscences won't exactly make sense in the way it should until you actually start in the market, but it has more valuable wisdom.

    Good start though: good school, like poker, humble, and decently capitalized to not blow up quickly. Humility and honesty with self and others I think are actually some of the most crucial characteristics.
     
    #13     Sep 6, 2006
  4. guntd

    guntd

    Hmmm thanks a lot all. The books would probably be a good start for me because I have no clue what alot of the things you guys mentioned here are. lol. Do any of guys have a suggestion on sites that give you guys leads on which stocks to pick up? how many stocks i should pick up at a time with 25k? if the price of a stock matters, i.e. a stock at 30 compared to one at 70? I will pick up the books you guys recommended and start accounts at the sites you guys recommended and work for there. Currently I am trading through scottrade. Cool, thanks a bunch!
     
    #14     Sep 6, 2006
  5. tireg

    tireg

    When I was starting out, http://www.investopedia.com was/is a great resource. It's got a simulator as well, although 20-min delay on trades and data. Lots of easy-to-read articles that get the basics across, then if you want to dig deeper just do a google search or a forum search for a certain topic.

    Good luck to you and keep us posted on your progress!
     
    #15     Sep 6, 2006
  6. Trading in the Zone... Mark Douglas
     
    #16     Sep 6, 2006
  7. TinGull

    TinGull

    Van Tharp. Trade Your Way to Financial Freedom.
     
    #17     Sep 7, 2006
  8. price dont matter shit; important thing is that it moves enough to give u a decent r/r; the tightest the ranges the worse your chances and the most difficult to predict. even if u have 25k in your acct don't trade more than 100shares for quite some time [i suggest 20-50shares at the beginnin']; it's more than likely is gonna save u a lot of money.
     
    #18     Sep 7, 2006
  9. - First of all, think about you 're coming into one of the hardest battle on earth : trading profitably... It takes years to be constant.

    - As soon as you know that, read directly something serious like Kaufman's "new trading systems and methods", and learn to program... Since you have a scientific background, it will not be difficult to learn TS EasyLanguage or AmiBroker... Just go for backtesting, it will be a gain of time and money.

    - Then, have a couple defeats using overoptimized systems.

    - Finally save the good ones and run it eternally( just kidding ).
     
    #19     Sep 7, 2006
  10. I wonder how much you lose before you start making some profits.
     
    #20     Sep 27, 2006