you should consider buying training videos on charts, charts really help when trying to do swing trading.
I agree about old books. Not neces. "older the better" but I would go for a "classic" any day rather than a "newest hot off the press nanobiowizzohowtoelectronicmicro strategy trade system" same with psychology. hum. sure it's good to check out new books, but it can be interesting to flip through an old 1970s bibliography that references some of the same books and says very similar things to what's being printed nowadays. i recommend getting some basics down, so you can recognize sophowizardry. ayuh i recommend getting some experience then reading "reminiscences of a stock operator" (edwin lefevre), fun read especially when you can relate to how silly one can be. (or read it, get some exp. and read it again) then what? oh, yea read a few books, there's actually [surprisingly] some good info on this site, so do some searches.... why do you want to trade? *sigh* i recommend a hot bath with lemon scented crystals
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% DaMa-do; Remember 1 or 1/2 [50%] day in May; is only a small but noteworthy fraction. Most public libraries have the three old top trader Jack Schwager books; or can order them. Paper trading helps as does an occasional trade when older; reading, observing recording things help. In a multitude of counselors there is safety. Solomon,trader king
I think the advice you have been given is good advice. If your swing trading I would recomend books on charting and/or candlesticks...Steve Nison is a popular candlestick author. Personaly I don't think waiting 3 years is a very good idea. You definitely need to learn before you trade, but you will learn more by trading than you ever will reading. Read some books and do some paper trading untill you think you have a good strategy and then give it a try. Just start with a small amount of money untill you feel ready to use larger amounts. Good luck and have fun!
I worry about coming across as just pushing our services, but www.advancedfutures.com has an excellent education section, as well as a pretty good listing of books. The John Murphy book is a standard for technical analysis, and is even a requirement for those studying for their CMT designation from the MTA. If you are interested in stocks only, because you haven't been exposed to futures, learn about the advantages of the emini's, as well as the drawbacks. If you need anything at all, give me us a call.
It's a good thing I forum. You are all so helpful, thank you! There are so many recommended books to choose from Swing trading definitely sounds like something I'd be interested in.....not sure how long the timeline for a swing trader is but a couple of trades a day on some stocks to a couple a month on others is what I'm looking at....maybe even holding some for a year: Had I jumped in earlier I would have definitely bought RIMM..I had been real interested in their blackberries when they first came out and was not surprised when their stock went from $5 to $70 in like 11 months.
Not a single troll bashing this guy yet. Do not pay for any course or "special" books. The older books are much better. Start paper trading just for the feel. I do not know what you want to trade, stocks, futures, forex, options. Since you have some money, you can always go prop, put up 5k and hopefully at least get guided. It is the cheapest way to get experience.
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% Like old charts ,old numbers old names; mature names like Jack Schwager, Trader Vic William O'Neill Dr. Van Tharp Bull market investing small may help teach investing plan ; bear markets , which we are NOT in , may help teach trading small plan . Investing may be longer time frame I watch for patterns in repeating names also. ''Its a bull market you know'' Old patridge , nicknamed ''old turkey''; loved to say that with profits riding in a bull market. Edwin Lefevre , mining engineer book