Advice for a noob please.

Discussion in 'Professional Trading' started by ric, Oct 9, 2008.

  1. ric


    Hi. I've been checking out this site for a while now. A couple of years now I think. I've been meaning to get into day/swing trading for quite a while. Was about to a couple of years ago then had to get over cancer and could only handle my current business.

    As such, any reading and research I've done is in the past and most likely outdated, but once again I'd like to get into day/swing trading. It's something I've always wanted to do as the nature of working for yourself and not answering to anyone but yourself has always been my way.

    Anyway here are my questions:

    1. I want to start extremely small and just learn to trade and very slowly work up my size as I gain experience. What is the best market to do that in? Or, which markets allow you to have and trade with embarassingly small accounts?

    Honestly, I don't know much if anything about the markets or why one would be better to trade than another. I've read up on forex trading and it seems less complicated in that you are only trading currencies and not a bunch of different stocks, so that is something that has some appeal.

    2. I have a reliable DSL connection. Is that fast enough for online trading?

    3. What are some decent brokers that have good track records and aren't just out to rip off noobs like me?

    4. What is a good software platform to trade with? I've looked at ninja trader as per some posts on this forum, but being a noob one doesn't look different to me than another. Do they all have simulators so I can learn how to use them first?

    5. As far as trading costs what is considered market standard and what is considered a good deal, and what hidden cost/rip offs should I look for.

    6. Any good instructional book recommendations would be appreciated. I have lot already, but always looking for more knowledge.

    So, basically very beginner nuts and bolts stuff.

    P.S. what happened to the learning center on elitetrader? I thought that was the best part of this site, it was better than a lot of books I read in the past.