I am new to daytrading....just need a little help

Discussion in 'Trading' started by SoCalHeli, Mar 4, 2004.

  1. I am brand new, just graduated college and have a decent bank roll behind me. where can i go to read up and what are my options. I would appreciate any help. Thank You very much in advance. I look forward to joining your discussions in the future.

  2. Read "New Traders Thread" first. Search Journals. Take it slow. Good Luck, Steve46
  3. thank you steve, i saw someone mention a simulator...can you point that out to me too please. thanks
  4. prox


    Read read read read

    get a live feed and watch charts every day ..

    do not trade, do not buy courses or pay for some monthly chat room service..

    You'll want to get as much screen time and knowledge before even thinking about trading, making your learning process as cheap as possible.

    Expect it to take a minumum of 1-2 years before you even have a fighting chance.
  5. what charts should i be looking at? and what will i be looking for? i hope i am not annoying anyone, but i am just trying to learn. i just want a good place to learn. thanks

  6. prox


    A lot of people watch the ES futures contract, which is highly popular among daytraders. For learning purposes though, watching the QQQ or a very active stock should be just as good.

  7. Hi SoCal,

    Saw your other post too, agree with the read, read, read post.

    There are a ton of good books out there and twice as many useless, you may want to check out www.traderslibrary.com , look around there a bit and when you have a list of books you think look good, go to Amazon and pull each one up, check out the reviews from customers to narrow it down a bit.
  8. Mecro



    No offense whatsoever but you seem completely clueless. Which is not too bad since you are completely openminded.

    I would personally suggest joining a prop firm, putting down the absolute minimum and getting as much experience as you can. At the worst, you will lose whatever you put down.

    You do not want to be making mistakes with your own money.
  9. If you have the patience to learn from the top down I suggest
    studying "Technical Analysis of Stock Trends" by Edwards and
    Magee. It will lay a nice groundwork of understanding for you.

  10. imho......focus on a market or markets which really interest you ....become comfortable, and hopefully an expert in interpreting that market....expand your interests, and learning experiences to other markets when it seems you can be more comfortable and profitable as your interests lead you.....I wish you the best of luck.

    #10     Mar 4, 2004