I am taking the plunge in the active trader status. I have a finance degree from Arizona State and am working as a Police Officer now. I never used my degree and its about 11 years old now. I still read national and world news and think about how things effect economies. I have recnetly read a few books, 3 to be exact to get my thinking up to speed. (What is your favorite book for beginers?) I am going to an e*trade seminar on Sept 28,06. Any advice on stock screening and generally getting started, plz post and or ask me further questions.
Don't take anything as the final word on the subject, don't sit there at the seminar thinking god is talking to you, wisen up and all that. Hard work, I don't know, I'm begining myself!
first thing to do is to forget everything you learned in the class room..............reading material:ROSO,remininces of a stock operator by Lefebvre.........trading in the zone & disciplined trader both by Douglass. trading is the reverse of human nature,everything that feels right & comfortable is usually the wrong thing to do......prepare for a couple of years of gut wrenching hell where you may consider yourself a masachist & doubt your sanity at times......& most importantly start with small money & make your mistakes with small sums so when the curve is complete,you`ll be ready to plunge back your tuition & then some................good luck.....even though luck has no bearing in this game whatsoever.
Due to a fair amount of randomness, luck can play a sizable role in trading. Add Nassim Taleb to your reading list.