Hi Is there any online daytrading education that is serious? I am a beginner and I want to learn the basics, maybe instead of learning how to trade in a prop firm ( we donât have it in Sweden) . Thanks
hello simonee watch out for daytrading promotors that promise you the moon for alot of cheese ps ... I am curious what is the best beer from your country and if they produce any wine ?
well i was tempted to suggest elite trader - but sometimes..... setharb - i believe schnaps (spelling??) is the tipple of choice there - various fruit flavors. vodka too probably - no wine as the climate is probably too cold for grapes. simonee will know best of course.....
To start out check out the free material from the exchanges such as the Chicago Merchantile Exchange, Chicago board of trade, etc. Decide if you want to trade stocks or futures then send for their material. that will get you familiar with the products to trade and times, margins etc. As a beginner, if i were you i would trade the E-Mini electronic contracts in the futures. Then get yourself sat down and read some good books about trading, learn technical analysis, relearn technical analysis, then when you learn technical stuff, reread it all over again, then again... Technical analysis is what makes the game understood by traders, fundamentals are for economists and for gurus to babble on about what is going to happen, they really have no clue. History has shown that markets usually get blindsided from the unknown, makes sense to me... Then do some paper trading, or some accounts have simulaters to trade so you can get the mechanics of the game down. But do rememberthis most important fact: THE REAL EXPERIENCE of learning will come from and only from shooting live bullets in a real battle with the mkts. Us humans run on emotions and that is where the learning curve will show an upward slope. A few losses will imprint to the brain a lot faster. Learn from your mistakes, correct them, if you make the same mistake again, double correct it until it becomes a habit to do it right. that my friend is a couple of steps to put you in a BMW 7 Series and a ocean front home. Good Luck, be prepared to make every mistake in the book during the learning process, we all did.... There is no internships in trading so it is up to you and you only. A mentor helps if you can find a friend in your local area, place an ad in the paper and offer to meet for a cup of coffee with him her. later PS, i see your post about "LIVE" trading, excellent, you are doing fine with that attitude. You can always open an account and do ONE SINGLE CONTRACT to get your feet wet. ONE, not two, three, ONE. believe me it looks wimpy, but it works ask a super trader like Tom Baldwin what he did for a full year trading bonds day in and day out. RIGHT, he stood there all day and learned by doing a one lot. Then he progressed up to thousands a pop...WHEW!!!!!
LOL ET have bean a great help, but what I want is some kind of âliveâ trading education. With live I mean that I can wach a "mentor" trading and making money, not taking my money
and do this. Do not pay attention to all those guys that drink all that stuff while trading, they want to get you tippsy so they can get your money.... just kidding guys...all in fun...
Deganfarang, here is a couple more suggestions for books about technical analzsis. google these or go to amazon.com for more info... others can help with suggestions also. how about : john murphy or Magee and edwards? Or is it Edwards and Magee?
I have been reading. elder, market wizard and many more. Should I start with the risk management (thats what I am doing now) or ..?