Trading is something I've been interested in for some time now. I have read several books and have decided to either go the prop route or take some cash and do some swing trading. My question is, what are my best steps in actually learning how to trade. All the books I have read give great info about the mental process of trading but where can I learn to actually execute the trade and what markets would suit me best. I have gone a few times with my friend to the CME Globex center but I really have no idea what I am doing. If anyone can help I would greatly appreciate it. Thanks,
Experience. Period. It's always good to read and study the books, but you gotta do it while you actually trade too. The irony is... you will need experience losing and getting wiped out. You have to learn what NOT to do in order to see what you SHOULD be doing. There's no getting around this one... which is why people always say start with a small account.
Is there anyway to help avoid loosing money initially? I have about 20K that I can afford to loose. But once thats gone I will be strapped.
trade 10 shares of SPY or QQQQ Once you can learn to profitable in it You are now ready to be a trader. Ignore it at your own peril )
No unfortunately. It's not just my opinion either, it's a cold hard fact. And if you'll allow me to be blunt.... you don't have enough capital to make a serious attempt, unless this is just for fun or a hobby on the side, or maybe to just pad your biweekly paychecks.
Is there anyway to help avoid loosing money initially? I have about 20K that I can afford to loose. But once thats gone I will be strapped. -------------------------------------------------------- Hello jswieton Nooo you do not need to get wiped out. Your first task is to not believe everything you read on forums.. Take $15K of your money and lock it up in something like a CD for one year. Take the rest ($5k) and open up an account for slower swing trading. Keep a log of what your doing and use an entire year to learn as much as you can. Then you will know if you should use more of that $15k you locked up. You should NOT need to ask others what to do with more of that $15k by then. You will know yourself a lot better by then just by reading your investing log book. You'll not need to ask others that question. agpilot Edit: Noway are you ready to try and earn a living trading. Just trade to learn first with $5k...