Some questions from a relatively new trader.

Hi and thanks for having me in the forum. My name is Martin and I am fairly new to stock trading and would greatly appreciate if someone would take the time to point me towards or answers a few of the questions I have outlined below.

Currently I have $3500 in cash to put into stocks, with an additional $500 being added every month, $800 in stocks, and a Zacks Premium subscription.

My long term goal is to eventually take some of the proceeds from my trades and translate them into a substantial down payment for some real estate such as an apartment or condominium and keep on growing from there. I live in NYC. I really don’t have any expectations in terms of a timeline.

-What are your thoughts on Hulbert Financial Digest?
- Are there any books/videos/online courses you would recommend for a newbie trader?
- What are some good resources for the basic trading terms and concepts?
- Which websites would you recommend in terms of gathering market news, stock tips, general research etc.?
- Are there specific blueprints I should follow or develop when picking stocks?
- Are there any specific individuals I would be wise to follow?
- Is there any additional advice you could give me?

Thank you for reading my post.

 

you are picking a really good time to get into stocks, you dont really need to get bogged down with too much information, are you looking to trade off daily charts?

 

I am currently just going by the Zacks rank and what ever information I can gather from earnings reports, general stats and a companies past trends. I also use marketwatch as a research tool. Right now all I want to do is buy low and sell high. I tend to hold my stocks for at least a month. My current holdings include WX, UIHC , AAL. I want to keep things simple (stick to what I know) at first and continue educating myself in the process. It seems to me that a lot of newbie traders tend to get in a little over their heads and attemp trading techniques that are completely out if their league and subsequently use a lot if money.

 

1) You have to be willing to learn "everything about everything" and then get rid of what you realize is of no value.
2) You will not be able to "cherry pick" what is most valuable. That varies from trader to trader. There is no perfect, optimal & minimized syllabus to adhere to.
3) Your goals should be work ethic oriented, not reward oriented.
4) You're woefully undercapitalized. Save more money before trading. :eek:
5) Focus on reading books from public libraries, devouring free online content and not paying for subscriptions.
6) After awhile, you should notice that authors are talking about a relatively small number of basic concepts with their own "twists and interpretations".

 

I plan on using my earnings from trading to purchase property too. Hedge (financial fallback) your earnings and your trades.

$3500 is plenty whether you choose retail (Etrade) or Prop (WTS). The major difference between the two. Prop give better leverage buying power 20:1 with a Series 56 license. In addition it is more flexible when it comes to shorting stocks. Retail has a 2:1 with your inital $3500 investment you will have $7K in buying power. You will have to swing (hold overnight) and day trade, to earn some decent money. However with most retail accounts you can withdraw your money immediately using an ATM. Once you have $25k, your leverage will increase & max 4:1 which will give you unlimited day trades and $100K in buying power.

I have a 9-5 and my paychecks are direct deposited into my Etrade account. I would like to go prop, however my first priority is building up my retail to $200K using leverage. My earnings will go towards purchasing multi-dwelling homes and turn them into income properties.

So your headed down the right path. When you trade use stock screeners. Trade only when the odds are in your favor. If the market is crap that day don't trade save your money. In order to trade marginally you have to live minimally. Reduce your living expenses which will in turn minimize your risk.

 

I use plus500, They have 50:1 leverage and you can deposit as little as £100, I just bought some of this stock

 

its making new highs as we speek, see its not rocket science as some people on here woild make you belive

 

I have a tight stop on it though so I might get stopped out if tgere is too much volatility

 

it was messing about to much so dumped it with a small profit and ill just move on, I wanted to see it really take off but didn't happen right away, it may do but not right at this very moment

 

I am new..so i still learning..but i am here to learn as well from your question.thanks