I am just screwing around with a couple of grand trying to learn the markets. I have been fascinated with trading for years and I finally have the time to try and learn this while I am in grad school, which leads me to two questions: Please explain some of your acronyms to me, i. e. "SPoos", etc...??? And please in a sentence or two impart a piece of knowledge that you feel success cannot come without... I would appreciate any input, and go easy, at least I am not MRMEATHEADMARKET (I am huge, what is that?)! BTW, I do have a basic knowledge of the markets BBA Finance, Merrill Lynch (they teach how to sell mutual funds not trade), almost finished with an MS in Economics, I have read everything under the sun, and I have some profitable trades. I just don't feel that I have a really good edge on things yet and I am trying to turn that corner...........
what kind of trading you have in mind ? daytrading, postion trading, swing trading ? success cannot come without '' the learning curve ''
You have to go through two main steps. 1)Learn how the markets work and get used to technical analysis. You can read about this in books, Internet etc... This is the easy part. 2) You have to analyze yourself while trading. It's much harder than analyzing the market. You'll discover that you are more unpredictable than the market. If you can graph your emotions during the trading day, it will look more complicated than the intraday chart for S&P. You have to teach yourself how to stay in control. I think the only way to learn this is through multiple exposure to pain and losing $$$. This will be your tuition. If you have enough $$$ and persistence to go through the learning process then you'll succeed. Just make sure that you don't make big $$$ bets and blow up your account fast.