Really noob quest?

Discussion in 'Educational Resources' started by vastox, Dec 26, 2007.

  1. vastox


    I've been struggling trying to figure out when and how I can begin trading, or at least begin practicing. I don't know where to start nor where to look, except that this is the right place to begin. I've been on TradeStation, Amertrade and various other websites and was surprised to see that the prices were roughly $2000(min. deposit) + many other little optional monthly fees would add up. My first question is 1) What are TradeStation, NinjaTrader, IB. - What is incorporated in these programs, are they worth it, can you purchase just one of these programs and that’s it or what else is necessary? These programs actually look quite overwhelming are they enough or not for a beginner? 2) About how much capital, roughly is necessary to start, including fees and software purchases? Because upon looking at the sites they seemed like you had to have a lot of money already and then you can be able to invest. Can't you start out investing and trading with around $500 or am I living in a fantasy? 3) How did you guys start and actually begin trading? I was having trouble just starting and was curious as to how people on here began since everyone seems so knowledgeable. Thanx
  2. You signed up for ET in July 2007 and now its almost Jan 2008 and you STILL dont understand how to get started? I dont understand, it shouldnt take you more than a few days to pick a broker, fund an account and start papertrading if thats your plan.
  3. vastox


    Its just that i've been busy in school and have kind of been forced to drop it. Now I m ready and need to learn a lot about trading.
  4. The learning about trading will come after a year or so of live trading, but first you need to pick a broker, pick an instrument to trade and then fund an account.

  5. vastox


    WOW you make it sound so easy. Any suggestions on which programs to use or how about what the h#!$ are they to begin with? This is a noob thread you know. I imagine youre a big time pro trader with so much knowledge yet you could'nt tell me how you began trading. Thanx
  6. Icarus5


    You need to give this thread a good once over.

    Newbie Thread

    Your questions are a little too basic for traders to get involved and try to responsibly bring you along, it'll be too time consuming.

    Basically put the search engine to good use, do a lot of reading, and eventually figure out what you want to do in the markets.

    Then, after you've practiced for another 3 years you might be ready to put your money on the line ... but that's a big might.

  7. cmon man, what do you want to trade? Equities, options, futures, something else??
    It sounds like you need too much hand holding, just pick an instrument and pick a broker. Go with one of the major ones like IB if you want. can put up 5k at a prop firm and get thrown to the wolves like alot of us did. Its up to you.

    I put up money at a prop firm and learned on my own, through trial and error. Be ready to put in 1-2 years of not making any money, so save up now.

  8. What are you thinking of trading and in what time frame? If you want to try day trading I'd suggest opening a demo account through global futures (or any other futures broker who offers one) and mess with the index futs. No harm in losing fake money.

    If you want to hold overnight then you don't even need a demo account. You can paper trade with a pen and paper.

    Whatever you decide, don't put a dime into the market until you have developed a strategy, learned some discipline, and studied, studied, studied. You are going to be going up against people who have been in the market for years but you have to start somewhere.

    Since you are so new to the market I would suggest learning to think like a trader first. Read, "Trading in the Zone," by Mark Douglas. Even exceptional analytical ability won't help you in this business unless you can think like a trader. After that "Technical Analysis of the Financial Markets," by John Murphy is a good place to learn to read charts. If you're really ambitious read "Technical Analysis of Stock Trends," by Edwards and Magee.

    It takes years to learn to trade, not weeks or months, and you have to be willing to make many sacrifices.

    Good Luck!

  9. vastox


    I guess your just loaded and have money like that, and also a highly developed brain to easily grasp and adapt to the markets and all the software thrown you. Anyways, I guess you cant help me out by informing me from your point of view about what these various programs and their capabilities are. Again, thanks anyway :mad:
  10. What are you asking? About trading platforms and their functionality??

    You asked me how I started and I told you, I put up money at a prop firm and traded through them.

    #10     Dec 26, 2007