Trying to get into trading

Discussion in 'Professional Trading' started by DaMaDo, May 9, 2004.

  1. DaMaDo


    Hello, I stumbled upon this forum while trying to learn about trading online.

    I've always been intrested in the stock market and was wondering how I should go about learning the ropes.

    So far I've started reading Trading & Exchanges by Larry Harris which seems to be a great book explaining how everything works.

    Where should I go from there?

    I figure I want to swing trade more than actively trade due to time contraints.

    Any help will be appreciated :)
  2. ER9


    Continue reading posts to these forums. You will find many valuable links. Follow those you find interesting. Also the journals forums will expose you to how others approach trading. This will give you ideas to pursue. When you find a member that posts information you feel is of value or of interest, click on their name, you can then read other things they have written. The books section also has some recommended readings.

  3. I was in your shoes a couple years back....And ill give you the same advice people gave me...

    1) Read some good books...Tony oZ has GREAT books...look them up and read them.

    2) Read alot of posts in this forum

    3) Dont even think of going right into it..You will lose everything...

    Just learn, Read alot of good books, Demo with various accounts to get use to it, and just learn as much as you can.....Go to some websites that teach rookies about trading....
  4. DaMaDo


    Thanks, great advice!

    Which websites teach rookies?

    I just found and think I will play with that a bit too.

    Also, I've been researching stock books on and there are tons of them, but some are old.

    I know this is a fast changing market and I thought most books are outdated within a year. The tony oz books have great reviews but were written 1999-2001...are they still good for today's market?
    I bought an older book and it had fractions rather than decimals.

    I hope after reading and studying the books and links I can reach a point where I feel I am ready to start using real money. That is probably a tough point to realize...
  5. The older, the better.
  6. Yea, the old ones are awesome :)

    But, you cant go wrong with Tony oz, so check out his books!!!

    Dont even begin to think about getting into real money so soon...Maybe 2 or 3 years start thinking about it!

    I was like you...I thought "hey, if i read some books, and look at some sites, and trade on the demo, i should be all set" But then a number of traders on this board insisted it was a horrible idea and i would lose all my money...

    Also, do you have 30k?
  7. DaMaDo


    wow, that's a total surprise to me. I guess I'll start looking at the old books then. I'll pick up some Tony Oz books first.

    Well once I sell the place I'm at right now I'll have about $80-90k in the bank...well minus taxes. But I'm not going to invest it since I don't know how yet =/

    I'll take 2-3 years to learn and read and do the demos then start investing.

    Kastro, what did you do after reading and doing the demo to feel ready to start investing readl money?
  8. I have not even started trading with real money lol...Im still learning, and its been about 2 or so years now...

    Just be patient, and keep learning bud. Im just working on my risk management plan right now, and thats my most important learning phase.

    Hope this helps....If you have any more questions just ask ok.
  9. Hi,

    If you have 80k in the bank, take 10k of it and open an IB account (for low commiss) and start trading if you're going to do equities or futures.

    Or if you are so inclined to trade the ForEx market, you can do it with $1000 and still learn a large portion of the emotional/psycholgoical side of what trading is all about.

    90% of trading is having the discipline and proper psychology to match your own personality to a profitable trading style. It doesn't matter if you trade Microsoft, Oil, Pork Bellies, Euros, Interest rates, T-Bills, Energy, whatever....a financial market is a financial market.

    I agree with the others to read, but don't read for 2 years! After digesting about 5 books (which may be as quick as a month) then open your account and start getting experience. For example, read and watch all the golf instruction you ever want in the world but nothing will beat actually playing and testing out what you learned. As in golf, it will take time before you get to be a proficient golfer...and that's the same with trading. Don't you believe for a minute that spending years studying books will put you any further ahead than jumping in and and getting real trading experience.
    #10     May 10, 2004