Hello all, I'm relatively new to trading. I'm currently doing a degree which a small part looks at personal investment. learned some interesting stuff in terms of theory so far, and looking forward to what comes next. for all those already well-established investors, whats your little tips from your experiences over say the last few months, years etc. any worthwhile forums I should know about other than this one? any brokers to avoid? any interesting articles or theories I should take a look at? I'm open to any advice however generic or detailed lol!
With a nickname like that? The answer is a stout and firm N-O. Seriously, be serious. You must be from Colbert's Covetton house.
Really? There was no humorous context in your post. I think I know who this is then. "Tongue-in-cheek" is not a term used here often, but it was recently, by me, and someone was TERRIBLY offended by me using that line in a certain thread about a certain hedge-fund manager. *clucks*
honestly, I'm 100% genuinely new to this forum. I mean my name was supposed to be a little humorous not the post, the post is sincere... comedy clearly isn't my strong point lol
1) Capital Preservation -- never put on a trade without a fully-schemed trading plan, knowing when you will hit your profit-taker, or your stop-loss. NEVER. 2) All brokers (and add-ins) will sell you on their great/latest T/A (that's Tits & Ass) -- the stuff they shake in front of you with words like "Guaranteed!" and "Secrets: Revealed!" and all sorts of crap like that. ALL T/A stems from moving averages of price, volume, or both. THERE ARE NO SECRET WEAPONS out there -- and you should RUN from anyone who says there is. 3) That 2) said? Sometimes the folds/refolds of T/A calculation can get a little lost in your grey matter. But that matters NOT A WHIT. DO NOT put anything on your screen that you do not comprehend, to any decimal, in words that would make sense to your Dear Ol' Mum. If you can't to that, then drop it, or fiddle with it until you DO understand it. Cuz when the schieze hits the oscillator, and you've got to use the available knowledge on the screen to inform 2), so as to maintain 1)? You will have neither time nor brain power to, AT THAT POINT, start wondering what exactly your fancy-pants "indicators" really mean. You better know it beforehand. 4) "The Trend Is Your Friend" and "Let your winners run; cut your losers short." are phrases that place bracket orders (SL and TP) around your market positions. Know how to work a trend, and how to work doldrums, SUBJECT TO 1) ABOVE. That's it. Much more and you're hitting repetitive redundancies.
much appreciated. I will take this on board. may I ask, how did you get into personal investment in the stock market? did you have any prior education in it? or training? if you did is there any you would recommend looking into? I'm only doing one module on my degree in personal investment and its opening my eyes quite a bit. I'm sure there is more I can learn out there.
Tom, you know that anything related to sex is totally offensive to the entire American mindset. Shameful! This is a family website, hehe!
Welcome MakeMeRich, After 3 years of trying to get consistently profitable here is my thoughts: 1. Put your cash away. Seriously, do NOT trade your real money, ...., yet. 2. Stare at the charts 3. Take trades. Take 100 paper trades. If you a day trader take 4 trades a day. 4. Once you see your account is showing red, you know what to do next. Most importantly, ASK questions on ET forum. We will help you. Enjoy the journey my friend. It's a fun one. Ask questions.