Kid, if you're just starting out then this is the reality you're facing: how long did it take you before you "got it"? http://www.elitetrader.com/vb/showthread.php?s=&threadid=210645 How much money have you lost before figuring it out??? http://www.elitetrader.com/vb/showthread.php?s=&threadid=209385 A lot of people there were eager just like you are. But don't let it discourage you. Just know that trading is not an easy business to be in. In fact I think it's cut-throat. Just know what you're getting into before making the jump. Good luck.
I really appreciate your advice, even if it's just because its good to hear some compliments . I feel like everyone else has attacked me for suggesting to try it with such little money. I love spreads, but TradeKing wouldn't approve my account for them (I have level 2, not 3). Once I get more I'll definitely use them. Good advice on the small, steady gains though. I know they can definitely add up.
I've been trading for a little less than two years, but in the big scheme of things, I am a beginner. I can't say with certainty that I "got it" or have "figured it out", but the closest thing I've had to an epiphany is last spring. I bought NBG puts, calls for ford and citi, and some other stuff. Some options expired worthless. I sold others because I was down too much. (only lost around 700-800 bucks). But then I realized some of my problems and ended up bringing 2010 to a 20 something profit for this year.Then, after the summer, some things needed to be bought (Car Insurance, etc.) and there went my money. Thanks for the link on the threads, I'll definitely check them out.
Well, rats. My TradeKing account just got closed. Apparently it's not very hard to match someone's age with their SS #. I don't want a custodial account. Gah.
elitetrader has a lot of mean rude people. Traders Laboratory forum is a lot better. They are much more serious over there...