Getting Started...

Discussion in 'Trading' started by Eldwynn, Dec 8, 2003.

  1. Eldwynn

    Eldwynn

    Hello all, I'm new to the whole trading/ day trading thing and would very much appreciate some help.

    I have always been interested in trading but have never really looked into it much. One always sees those late night TV ads, on how to get rich quick in the market, which I believe are all scams, but they have peeked my interest.

    I'm completely ignorant on the subject of trading and wondering how to go about getting into it without failing miserably. I'm well educated and confident I can learn just about anything but concerned this may be as much effort as getting a new degree. I'm already working on changing careers and am pretty busy, with not that much free time.

    Is this something I could learn and do in my free time and still be successful? Is it terribly difficult...?

    How would you all suggest I get started?

    I realize this is probably pretty nieve but I'm looking for a way to get into this with not too much effort, get some sucess, and continue learning as I go.

    I did find this site [EDIT: RLB] offering a program that seems pretty easy on the wallet and seems manageable time wise for me. Any thoughts on this?

    Any thoughts and advice would be very much appreciated?

    Thank you in advance for the help, Eldwynn
     
  2. nkhoi

    nkhoi Moderator

    all the way from UK eh!
     
  3. Eldwynn,

    Go with your instincts... the website is as much b.s. as TV infomercials. And, with little time and little effort you can expect to make little money - if successful. If you are interested in trading but do not have ample time to devote then give what time you have and do not donate any money to your endeavor.

    All the best,
    RLB
     
  4. Sounds like you're entering into this pretty intelligently. I'm not quite sure on how knowledgable you are regarding the whole process, but www.investorwords.com is a good one, and I think Yahoo Finance has a little basics section that might help you out. Other than that, boards like this are great places to learn more about it.

    As far as trading goes, however you decide to trade and whatever you decide to do, just get some good practice in with it. You can find some great technical analysis sites online to help you find out some of that, and just play around for a while before you put some money in there. The learning curve does take a little while, but it's well worth it.

    So good luck.
     
  5. Eldwynn

    Eldwynn

    Thanks for the replies folks. This is much appreciated.

    I guess what I'm asking is can anyone offer any recommendations of any book(s) and or programs ( such as I listed-I'm not really thinking it is necessarily good , I was just using it as an example) that consolidates what I would need to know to get myself started and be successful. ie: something that would stream line the learning process. I can imagine surfing and reading lots and still not feel confident in how to go about things...

    Cheers, Eldwynn:)
     
  6. lindq

    lindq

    The best thing you can do to start is spend time sitting right where you are and read through threads on this site. Use the search function. You will find just about every basic trading style covered and discussed. Understand, however, that nobody will lead you to a strategy that is successful, and right for you. Ultimately that is a decision that is purely yours, and it will come only through considerable experience.