Hi, I am 22 and thinking about trading as a career. I have no experience and just started reading and studing a couple days ago. The reason I want to become a trader is that I like how you can work anywhere you have an internet connection and you are your own boss. So I need to decide what type of trader to start learning and practicing and have some questions. What is the difference between swing trading and daytrading. What would be better to learn to trade stocks or futures? I am not expecting to get rich over night or at all, I would be happy making around 2000-3000 a month. How much would I need to start off with? Does anyone know of any good simulators to practice? Any other help would be appreciated. Thank you. Dustin
I suggest you go work in a day trading firm. They will provide you with capital and training. There should be a list of day trading firms within this website.
What a journey you are in for. Enjoy the ride... heres a simulator: http://simulator.investopedia.com/home.aspx PM me if you have specific questions. I am by no means an expert but I could help along the way. jm
Drop that thought immediately, or quit now. Don't.... even THINK, about making money, and stop now while you are ahead. If you think you are going to make money any time soon, you better be one of the more lucky people in this world, and be able to hold on to your shoes.... or you will fail immediately, and you will quit before you even get started because you will not reach 2000 - 3000 any time soon. Some may argue. But when you are dreaming of the prize, before paying the price to learn......... well you are setting yourself up for failure. So, I strongly suggest you eliminate any dreams of making money any time soon, if you intend on taking this seriously. Because, I for one, if was dreaming about money.... I would have quit awhile ago. I'm just here to survive until I am even the slightest bit consistantly profitable. So, get that out of your mind immediately for your own good.
I agree. I started off well from the beginning and thought I could do that forever. I was fortunate enough to come to the realization that I was being unrealistic about my expectations before any damage was done. I was lucky enough to have doubled my account in the first year, as naive as I was in many respects, but I couldve just as easily disappeared in the same fashion. I thought I knew what I was doing, but really I didnt. Experience is everything here. But even more important is your psychological makeup and your mental preparation for an endeavor such as this. Read. Ask. Learn. Experience. Reflect. If you are truly serious and dedicated, start here. jm