Beginner with lots of time on her hands

Discussion in 'Professional Trading' started by txlegalpro, Nov 20, 2008.

  1. I have some cash in a money market fund that I was planning to use to buy a business, but since the economy tanked I have given up on that idea. I have done well investing in real estate, but that scares me now too. Since the stock market has tanked so badly, my thoughts are that there is going to eventually be a great money-making opportunity there and I need to learn the ropes.

    I am smart and can spend as much time as I want to learning to trade. I am on the computer all the time anyway. I do not plan to even open an account anywhere until I have some good knowledge under my belt. Any short cuts or advice you can give would be greatly appreciated.

    The only thing I have done so far is open a free trial zack's account and tested it with a fake portfolio. Was not that impressed.
  2. I found the education forum after I posted this. I have asked the administrator to delete this forum.

    I am learning a lot from you guys and gals, and what not to do from the occasional douchebag.
  3. Yes...taking short cuts and advice from people on this board can quickly deplete your account. :p

  4. I'll second that.

    It will be a long journey and it may be the hardest dollar you'll ever earn.

    best wishes
  5. cfelicio



    keep your money away from the market, unless you know what you are doing...
  6. Your success is guaranteed! :cool:
  7. I really do appreciate all the warnings. It just confirms I am in the right place. It was really tough to find a site that wasn't full of sales pitches.

    As I said, I do not plan on opening a real money account until I have gone through all the steps necessary to be able to understand how to trade, and have simulated some success and feel disciplined enough to follow through with what I have learned.

    I signed up for demo ninja and zenfire accounts at mirus futures, thanks to a tip I received in a PM, and I have not even activated those yet because I have been busy reading all the futures and options manuals. I can't believe it's already 4AM! How time flies when you are reading about margins, spreads, puts, calls, longs, shorts, support and resistance, yada yada yada. My head is spinning and I need an Ambien.
  8. You are doing it the right way.
    Educate yourself first and then trade simulated account till consistently profitable.
    One hard part ahead of you is to discover what trading style feels closest to your personality .
  9. nickdes


    As I said, I do not plan on opening a real money account until I have gone through all the steps necessary to be able to understand how to trade,

    I think you are starting off right. However, I would recommend that you put in your trading business plan a set time for paper trading, and promise yourself this, that you will not start trading until that time frame is up. IMHO, at least 3 months, maybe longer.

    I wish you well,

  10. Could you tell me more about this demo with Ninja/Zen-Fire/Mirus. PM if you wish to keep it confidential.

    #10     Nov 21, 2008