Trading beginner help!

Discussion in 'Professional Trading' started by h.b123, Apr 4, 2013.

  1. h.b123


    Hey guys
    I am 17, from the UK and 18 at the end of this April. So im new to this forum, I love finance and economics and love to keep up to date on the latest news etc. and wish to study economics at university and go into a career like trading. Now I have little experience and when I turn 18 I want to create an online brokerage account to start trading. Firstly, I have heard numerous rumours and positive and negative reviews on all of the following, which do you suggest I trade: FX,Equities or Penny Stocks. I have £1000 of my savings that I wish to invest, I want to try and bring in short term income to compensate for having a job so I can go out and socialize and be financially free etc. I am also taking a gap year so I will have free time to trade.

    Can anyone help to direct me into the right direction, how do I pick the best stocks, what are the best short term trading strategies for making short term cash instead of trading long term for the future and is this possible??

    I really appreciate you taking the time out to read this and look forward to any helpful suggestions that you can offer.
  2. If I were you, I would buy me as much shares of Big Macs as possible. The Chinese have taken a special liking to Big Macs and there is no end in sight for the future growth possibilities.

    Full Disclosure: I'm long MCD, and I eat Big Macs everyday.
  3. Living the life, Bro!
  4. 3 main ingredients:

    1. The Trend of The Market

    2. The Trend of The Stock

    3. Low Risk execution (buy the dips, sell the rips)

    All this is built on a foundation of risk management: bet small, bet often, and don't keep betting until you can see you're coming out ahead.