I'm a 33 y/o sales professional and ready to make a jump into the world of trading. For any of you who are willing to lend some advice and help an upstart....I'd appreciate any help to get started! Thanks to all... Tampa
Read any and all of the 6 billion threads exactly like this one on Elite. They should lead you to many sources of information be it books, ideas, important concepts etc. Try the "Career trader" forum, the info on this site between the garbage is endless.
Best advise is to make sure you have enough money to live on for at least 18 mos. Make sure you can afford to lose ALL the money you will trading with, that it won't affect your lifestyle or thinking.
I guess I'm hoping for an "outline" of sorts to get started. Home Trading vs. Office? What am I looking at in terms of costs and advantages and disadvantages? What's a good starting point financially? 1K, 2k, 5K, 10K to get started and reasonably shorten my learning curve and make around 5-8K a month to get back to my originaly lifestyle? THings of that nature.... And yes, i DO plan to browse and soak in as much of the info posted on here as possible. I just signed up today... Thanks and definitely looking forward to meeting a future mentor! (or 2, or 3...)
find support and resistance each day, find main trend, find intermediate trend, which can be opposite of each other. trade direction of main trend, when in doubt about the intermediate trend. if you are not sure then scalp.
Assuming one has some financial market experience, some decent starting capital, and busts his ass learning and working on strategies, how much can someone reasonably expect to make trading stocks in the first year. I know this is somewhat of a stupid qiestion because it's almost impossible to answer because there are so many factors, but just trying to get some general thoughts.
Snoop - You shouldn't EXPECT to make anything the first year. It can happen but you should plan for it to not happen.
snoopcat, dont expect to make anything, be able to stay afloat long enough to figure out how you are going to be able to daily extract cash from markets that you trade.