umm actually i only commented before replying to the subject of the post, i however with this comment am guilty of no useful response to the thread starter, and i have no idea what you are saying there nashibi, i will not be replying anymore, thx. PS: this is an addition to this reply regarding the fact that everything after your comment and link was also added after you read the first part of this reply, good cover slick. you seem really concerned about the newbies, which i was one year ago to date, and more worried about your hassle of looking down one column to a thread that more interests you. i just state the facts.
I spent several years learning to daytrade, and it was really worth it because I really learned a lot. But I almost went blind sitting in front of the computer. It took me a year to recoop from it and to get the desire back. I recently picked up a book that I bought 5 years ago written by thomas Bioveric called Playing for keeps in stocks and futures(3 trading stradegies that consistantly beat the markets.His second strategy, trading reverse divergences against price and the 3,8,13 MACD really works nice! just like it says in the book. I don't really think that you need several years in front of the computer to succeed in trading if you can follow someone else that wins and don't stray from it. How ever that seems to be really hard to do, especially if you buy a trading software like Tradestation that has hundreds of indicators and strategies in it . Bioveric's book is out standing!
Thanks to those that have and will provide helpful information to this thread. To those of you that look down on new people trying to learn the skill, well, it doesn't really matter what you say, because it will just be forgotten in the long run. A person is more likely to remember helpful information as opposed to someone's *attempt* at coming off as arrogant. I couldn't find any obvious newbie categories, so I decided to post a new thread and explicitily indicated in the subject that I am a newbie. I'm just trying to learn so don't waste your time or my time posting if you don't have anything helpful to say. Knowledge is meant to be shared. And WTF is up with the Canada comment? Open your mind and lose the prejudice. ...Karma...
The problem is not you. My comments are specific about the sticky thread problem. It's not a problem created by you...it's created by ET management. The problem is that the forum does not have a stick thread for newbies even though its been requested many many many many times. In addition, the forum management made a weak attempt to post a Newbie thread near the bottom of the forum. That's not helpful to you nor to any other newbies because newbies don't go near the bottom to look for commonly asked questions that get asked several times each week. For example, if you scan downwards this forum you will see a thread called Newbie FAQ - a must read for newbies... http://www.elitetrader.com/vb/showthread.php?threadid=78244 That's a thread started by a member and all the common newbie questions do not end up in that thread. They are scatter each week throughout the forum. Look at this thread for example...it started in the Trading Forum and then a moderator moved it in the Career Forum. Tomorrow another newbie shows up and ask the same question and gets the same answers or similar like and his/her thread gets moved to another forum. My point, there are some very helpful threads started by newbies asking a commonly asked question but they are all over the place and many members think its weird. Yep, you can find them all via the search menu... http://www.elitetrader.com/vb/search.php?s= Use keywords like * Newbie Question * Newbie Questions * Newbie Daytrader * Newbie Stock Trader * Recent College Grad Anything with the word newbie or college in it. Once again, the sticky thread comments are not aimed at you unless you work for Baron. They are aimed at those (ET management) managing these threads via not properly using the sticky code (they have it) and keeping all the newbie questions at the top in one forum... They can call it the Newbie Forum. With all that said, here's some useful advice that I've personally given to newbies at this forum and most likely will again before next weekend is over with to another newbie asking the same question: * Keep saving your money because you currently do not have enough money for short term trading... Called Undercapitalized. * If your going to be swing trading...learn as much as you can about market seasonal (cycles) tendencies. * Get a direct access broker just in case your going to be doing day trading. * Don't trade during college...do it during the summer in between your college years. Yep, many here have been there where your currently at. Now...do what you want with the above advice and don't take it personally. It's not meant to be rude nor arrogant... Just honest from someone that's been there too. Last of all, make use of the ET search function because there are hundreds of useful newbie threads scatter all over ET. Good luck in school and any future internships. P.S. Develop a thick skin here at ET because most newbies don't last beyond a few months here and don't lower yourself via getting caught up in the name calling game. Mark
Like Nihabashi said, we are more upset with ET than you. Dont worry about it. As for the pointers, I suggest you: 1) buy the book "Technical analysis of the financial markets".. that will get the ball rolling so you can find patterns and profit from them. 2) Learn the concept of support and resistance asap, so you dont become a sucker and buy at the very top. There's more to it than "buy low, sell high"..or as some on ET like to say "Buy high, sell higher" . 3) When shopping for trading books, make sure you get those that have been printed on the year 2000 or later, because a lot of the stuff out there is out dated, laws and regulations have changed and trading is harder now than it was. 4) Keep a journal of all your trades, and after each trade, write a review about what went wrong if anything and what u can do to improve. It's a good way of following your progress. 5) Trading the news is dangerous. 6) Trade in small 100 share blocks until you get somewhat profitable.. trading larger share size will only help you lose faster.
Check out Szeven. go back to his earlist posts. He might be a good role model for ya. Notice how experienced traders encouraged and helped him with advice occasionally. The question. The big one. How much are you willing to loose? You are gonna loose money. How will you handle it?? The very best of ET contributors say this: "Learn to trade well" Anything else is bullshit. Knock off the million $ crap. The money will follow in time. When you are able, ask very specific questions. Hey, you see Mark here on your thread and he's helped lots of people. there are many others. Stick with ET. Hope to see ya around a long time!! Learn.