On November 1st, my wife moved out. A few days later I had discovered that she left me with 8500.00 in unpaid mortgage and back property taxes. I spent the first week after that trying to find a roommate to no avail. And then on the 10th, I was let go from my job. Other than that, I've had a really good month! I've considered trading online for many months now, and given the above conditions and the fact that so many stocks are at all time lows, I decided that this would be a good time to jump in and at least get serious about learning some of the finer points of being somewhat successful at it. I've searched several sites online and have done several hours of research in several areas and then found this place. I've learned more from this group of people in the last two hours than I have in the last several days. And for that, let me thank all of the active posters/commenters in advance. For the next few days/weeks, I may post quite a bit asking some pretty basic and simple questions, but I get the feeling that there are people here willing to help. And I will remember all of you who help at Christmas! (Won't get you anything, but I will remember you all, I promise)
Not intended to be rude, but wondering, what makes you think you can make money trading? Do you have a strong financial background? Have you had a knack for numbers since you were a kid? Do you understand how to at least theoretically beat a variety of Las Vegas games (i.e. blackjack, poker, video poker)?
He's right. You're going to need: a) an affinity for math b) a good understanding of probability c) make the Law of Large Numbers your friend d) the important of knowing that the game is all about managing risk ... not making money Hope you remember me ... Good Luck
If your post represents actual events in your life, then the best advice is this. Go square your shit away before you even think of trying to trade. Wife left? Divorce on the way? Surprise extra $8500 in bills? No job? Please, if this is legit, go fix what is wrong with your life, and then, focus on your new career. - Spydertrader
I'm sorry to ruin it but this is C-Kid. Ckid.exe shows 3-sigma confidence that its him based on his post against all previous known posts.
First of all, do not listen to what the man above wrote (1st reply)As it serves you no purpose, none! It sounds ironic, but don't ask advice on a site like this, because the ones who will respond are the victimized ones. They Will inflict fear upon you. They will instill all kind of dogma's and belief systems into your mind. It doesn't have to be that way. The market is one Giant pool of money, the only thing you need is to learn to swim. Money is made both on the long and short side. So don't fall into the trap: "Gee, cnbc said it's time to invest!". Most money is made while shorting the market. 10% Fundamental Analysis: FOMC days, economic results,... 90% Technical Analysis: Support and resistance Trendlines (channels) Volume patterns Price patterns OHLC bars You don't need all those complicated mathematical mumbojumbo at all! Better yet, you're better off without them! Be sure to enjoy your analysis. Don't push it. That is my experience with the site. Edit: Does this mean I've been Punked!? Gee, should've known!
I think he is sincere and not only that he is about my age, j/k. Fire your questions away if I can't cut it I am sure others will.
Everything in this initial post concerning my life in the last two weeks in indeed legit. However, I don't intend on using this scenario to jump in the market with everything I own up for sale and expect to make a ton of money. It's more a matter of using this time on my hands, which I have quite a bit of lately, to watch what happens and use it to may advantage in the future. As far as having a knack for numbers, yes. It's in my family. My career background is all automotive, but the rest of my family is in the financial field in one way or another, and have been successful. I also should point out that my statement about the people on this site being helpful... I also see plenty of them who probably have to read the directions on Pop-Tarts each and every day. And still screw up at least once a week.
Do you have 3-6 months expenses saved up? If you're not earning a steady income, it will be difficult to live, let alone trade.