New Trader

Discussion in 'Professional Trading' started by rjjr, May 13, 2005.

  1. rjjr


    I'm 16 and just got started trading a few months ago. I've been buying a couple of shares here and their, usually no more than 100 and seem to always get into a stock too early and out to late. I only have about $2500 to invest. It's been six months since I started trading and I've lost abou $100. How do I make a profit. Your ideas and strategies would be very welcome.
  2. stocon


  3. If i were you i would stop trading for the moment. How long have you been learning for? What are your trades based on?

    $2500 will not get you much, plus not sure what broker you use, but you are going to lose alot just on commision.

    Plus, its a pretty vague question.....
  4. rjjr


    alright, I use Scottrade which is $7 commission per trade. I haven't really lost or gained anything in the six months I 've been trading. However, I can't seem to think of a strategy to determine when to get in and out of a trade. It all seems so complicated, but trading seems to be a very exciting thing to do. What should I do
  5. how the heck is a 16 yr old allowed to trade ?

    at least wait until you are 18 ... and in the meantime ... try to read alot of trading books
    and / or
    ask questions to yourself about what your future
    educational goals are

  6. rjjr


    I already know what my career goal. I plan on joining the Army and possibly becoming a Ranger, however I need something to fall back on if all that doesn't work out. I can't see myself having some boring desk job and the only exciting thing I can think of now is either playing football or stock trading. Since I'm not that good in football I guess trading will have to be my back up option. Plus I'm not glued to the screen 24/7, I spend maybe a few hours a week trying to trade the markets. So help me out. It's better to start early, you should agree.
  7. John47


    Best advice I can give you:

    Don't bother trying to trade, you'll lose your money to the market and your broker. Investing would be the best idea.

    You have to think of it like this: some of the sharpest minds in the world are out to get your money when its in the market, and they want you to think you have a shot. Its like being given one chance to score on shaq....he's huge and does it for a living, you're just a kid...whats gonna happen?

    What I recommend: Read the good books, paruse some sites, see if you'd be interested in trading...if you are educate yourself.

    If you're not, don't trade, you're money will end up paying for some rich white guy's porsche (personally, I hope its me).

    I didn't really sugar coat it, but thats how the market is and you should be position now is a bloody scuba diver trying to swim through a feeding frenzy of sharks. Don't do it, get in a boat and spend your money on somethign fun for you. Like a whore or a drug habit...thats what your age is all about.
  8. lol, the rangers should be your fall back plan! Being a trader is the WORST fall back plan in the WORLD lol
  9. Visualize this:

    You are in a large fish tank. You are a little minnow. Above you are dozens of very hungry sharks. How long do you think you can survive in that fish tank?
  10. rjjr


    ok enough with the criticism I've decided what I want, now you can either tell how to avoid potential problems or you can keep it to yourself. Not trying to be disrepectful but I've only gotten one supportive tip. Someday you'll hear about the millionaire lieutenant:D Now don't you wanna say that you were part of his success?
    #10     May 15, 2005