Trader Beginner

Discussion in 'Professional Trading' started by leonhua, Mar 17, 2009.

  1. Why don't you start by reading some books, downloading platforms and testing strategies on simulator.
     
    #11     Mar 18, 2009
  2. IQ139

    IQ139

    LOL Thank you for introduction but I already helped the OP

    LOL you made me laugh today thanks :p

    http://www.elitetrader.com/vb/showthread.php?s=&postid=2354138#post2354138
     
    #12     Mar 18, 2009
  3. I don't know where you are in your trading other than you asked for advice. I know nothing of ThinkOrSwim sorry. I'm also a noob so you should probably ignore me.

    Look at this thread here on ET...

    http://www.elitetrader.com/vb/showthread.php?threadid=144884&perpage=20&pagenumber=1

    Read it then read it again. Google all phrases you don't understand and get an understanding of those and then read the thread again. Keep in mind this is only one approach... thousands are out there.

    Several posts to a struggling trader also on this board were very good. Look up that thread it's here...

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=155549

    Read the book "Trading in the Zone" It is great to get you more realistic about trading. I also recommend "The Intelligent Investor" NOT as a trading book but as an overall text to understanding markets, investing, bonds, equities etc...

    Have enough capital so you don't need to be profitable for years. This likely means trade after hours markets while working a day job. This can be done and I believe should be done so you are not dependent on trading. Later, perhaps you can move to a 4 day work week so you can trade after hours and "work" as a trader that one additional day of the week. This is what I currently do.

    Be prepared to chart, read, dream, eat, drink in front of your platform. You have to like/love trading WAY more than money. BUT, watch for addiction too, as that could be worse. If the approach isn't in balance... stop now as other posters have said.

    Paper trading was a waste of time for me, other than for a few weeks to get used to the platform. Trading with real money, but very, very small positions was the only way to go. I still trade very small positions and could not pay my bills if trading was my full time gig. Since Aug I have earned a small negative return, but basically flat for my position. The fund my capital was previously in would have lost me many times that amount.

    Remember: money management, capital preservation, and take only a little from the markets so "they" (figurative) won't notice you. Have a plan, stick to your plan, and trade without emotion.

    I'm a babe in this game and an admitted non-winning one at that. So I recommend you ignore my advice.
    :cool:
     
    #13     Mar 19, 2009
  4. Wow this faggot is trying to sell 20 minutes worth of "voice" advice for $100!

    http://daytradewell.com/buy-marks-time.html

    Apparently he once manged $150,000,000 in assets and also ran a hedge fund. I bet if he was anything remotely successful, this scum would've had enough money that he wouldn't have to waste his time on some shitty website marketing his "expertise". .
     
    #14     Apr 13, 2009
  5. I'm helping new people interested in trading to stay away from people like you that market garbage. Unfortunately there exist naive people that may pay for your "secrets" assuming that they will make money afterward.

    SUCCESSFUL traders don't sell their secrets/strategies. The financial rewards of being consistently profitable are so great that no real trader makes a website with paypal accounts to his "wisdom".
     
    #15     Apr 14, 2009
  6. eagle

    eagle

    Listen to your heart...

    Try now we can only lose.
    -- By The Doors - Light My Fire


    The worst mistake is not to try and you will regret for the rest of your life...

    If you are looking for a mentor then Wall Street itself is the absolute mentor. Here the three rules that come to my mind:

    1. Don't put all of your saving.
    2. Don't ask yourself too much why market behave that "silly" way.
    3. Avoid becoming addicted. If thing didn't work as planned then quit.
     
    #16     Apr 14, 2009