Hey, I'm a solphmore in high school and I'm interested in becoming a trader. I was wondering if anyone knows a few good books to read on trading or something that will help me learn about the topic better. -Thanks
You're too young to trade. But, start reading WSJ and be familiar with our great economy and other economic events.
read Natenburg, Options Volatility and Pricing, $60 bucks. Where do you live, i suggest if you live in chicago or NYC get an internship checking trades. PM me if you live in Chicago
Geez, I don't really see anything wrong with trying to trade $500 if his parents are nice enough to let him. As long as they fully understand that he will likely lose it all VERY quickly then all should be good. It would be very educational and help him develope money management right from the get-go. Now, I do have to say that I think a year of paper trading would be the first order of business before going live.
to trade $500 and lose it, of his parents money will not make him a better trader, it will make him a scared trader to take a losing swing or day, and eventually blow out one of his own accounts. Does everyone on this site trade their own money or what? Is anyone backed and can take swings and learned to trade on not what they have to lose but have to gain? Not every trade is a winner, most are losers, it is in the trades you make that you are able to be profitable throughout your position, everyone takes a bath now and then, if you don't have the backing to do so you will not make money, or not alot.
one problem is the mentality his parents will probably have of "if u dont make money then why do i t?" somethign i have to deal with
to trade $500 and lose it, of his parents money will not make him a better trader, it will make him a scared trader to take a losing swing or day, and eventually blow out one of his own accounts. Does everyone on this site trade their own money or what? Is anyone backed and can take swings and learned to trade on not what they have to lose but have to gain? Not every trade is a winner, most are losers, it is in the trades you make that you are able to be profitable throughout your position, everyone takes a bath now and then, if you don't have the backing to do so you will not make money, or not alot.
http://stockam.files.wordpress.com/2008/01/reminiscences-of-stock-operator.pdf "I was fifteen when I had my first thousand and laid the cash in front of my mother all made in the bucket shops in a few months" You need to get you parents to open a trading account for you. You could be the next Livermore.. Shame they dont have Bucket Shops anymore in the US. We still have them here in the UK, online now ofcourse, they are still easiest way to get into trading.