Hey guys, I am an Economics major in college and my goal and dream is to be working as a hedge fund trader. I am a noob to this trading, only knowledge I have is from taking one Udemy course online, and that's about it. My question is what are some of the best books and resources I can get, that will help me get started in trading, ex. technical analysis, and beginner trading fundamentals? I ask this question because it seems like all trading books out there, are written by scammers, marketers, and grifters, with shady websites that include courses or garbage material for hundreds if not thousands of dollars. It just seems like I cannot get my hands on some solid material from a real profitable trader. There are so many scams out there it's ridiculous. So do you guys know of any good solid material from a real, throughly vetted profitable day trader to really get me started in trading? -Thanks !
Most of the podcasts are good value since they give you a feel for the breadth of trading styles out there: Chat with Traders, Top Traders Unplugged come to mind but there's probably a few more out there that are worthwhile too.
imo, the absolute best resource is the market itself. Open an account at Interactive Brokers, and start trading. Not just paper trading, REAL MONEY (it's very important to have some skin in the game). Trade equities, bonds, options, forex, futures, commodities, and everything else that they have to offer. They're all different animals; in your trading, take the time to study each of them, and learn their attributes: their pricing, technical indicators, economic impact, fundamentals, etc. You will win, lose, and draw... and it will cost you... but experience is the best teacher. Books, videos, reading news, etc. will augment your trading experience, but ultimately, the market will put everything in context.
I see your point, but to some extent disagree. I think that there is tremendous value for a new player to actively trade a relatively low-priced stock, like SIRI or AG maybe. Get them into the real game, and let them see what it feels like when a big green or red candle hits their position. I'm not saying that they should mortgage their 401K, but a small position with good volatility is a great teacher.
You should transfer to a university that has "trading rooms". Old list @ https://www.elitetrader.com/et/threads/college-student.280595/#post-3915830 Almost all on that list also has internship programs to get you on wall street...at the minimum you'll build a great network with those that may soon be working on wall street. wrbtrader
Great info. Practice makes perfect, and I guess with some basic knowledge, and staring at charts every day for hours, will certainly get you to understand the markets and become profitable. Thanks!
%% Yes; Jack Schwager Top Trading books+ IBD founder stock books. Most profitable traders/investors do not day trade, some do.Market makers Edge , by MS market maker Joshua Lukeman has 6 month charts; dont worry about the old day trading fractions-LOL . Good question, profit T......................................................................................
Here's the current directory of trading rooms across North America @ http://universityfinancelab.com/directory/ Oddly, it doesn't show the list of about a dozen universities in Canada that has trading rooms plus internships to financial institutions...for example the McGill @ https://www.mcgill.ca/desautels/research/specializations/finance/alphonse-desjardins-trading-room Images of trading rooms in Canada @ https://www.google.com/search?q=tra...5PLfAhUPnlkKHWfsClwQ_AUIDigB&biw=1000&bih=722 Many of the ones in North America are connected to the MBA programs but most allow undergraduates in the school of business to use the facilities when space is available. Most look like someone's fancy home office that seats about 10 people while others on that list are sponsored by financial institutions that poured millions of dollars into the trading room...seating +50 students. You can use Google to find updated links and university listings. wrbtrader