No Idea where to put this sorry if it is in the wrong spot, all flaming is appreciated and enjoyable. Where do I begin with the stock market? Iâm 21 and a business major at a university in Ohio. My parents took courses through Investools, which as I have done some research is a scam if you do your own research and figure things out for yourself. When it comes to the stock market I find options to be about as attractive as some of the girls on campus but when it comes down to it, I have read some of these books Investools have given my parents and they give so little information as to developing a strategy and doing you own research that I feel like a virgin touching a womanâs boobs for the first time. So I guess my question is where the hell do I start? I have looked at many books that might give me some good insight on terminology, strategy development and psychology behind trading. I have been trading paper money for a month and am up 5% on the first month. When I begin trading I will be using $3,000 to start out with which is not very much but we all have to start somewhere. My current stocks/options that I own are: Teletech Webholdings, which has gone up 16% since I made the move, then I have calls on RIMM for $130.00, and POT for $125.00 but that is it. Any help would be greatly appreciated, and I have no clue where to start. Most people seem to think books are the wrong way to go but there has to be a start somewhere right? Any help, observations, recommendations, flaming, insight etc. would be a giant help as I am trying to get started in this new world.
First of all, buy a box of condoms, you'll need em. Reading doesn't hurt, it's a good point to start sorting through all the investment vehicules and strategies out there to find what better fits you. Keep on paper trading for some time, until you feel you have a solid strategy... once you've got a feel of your strategy through plenty of different market conditions, you'll get a good idea it's risk profile... once you learn to manage risk start trading it live, start very small and keep it small for some time. Don't expect to make money fast or with little effort, on the contrary you'll need a lot of discipline, you'll need to know yourself deeply and honestly, you'll need a lot of hard work. After all that, if you're lucky, you might be able to use those condoms to fuck the market... not the other way around.
In trading no matter what gender you are it is going to hurt when you get your trading cherry popped.
Like a noob (or boob?) I didn't look around all the forums before making such a post, I even tried deleting it but that is okay. To be perfectly honest about my âpaper tradingâ which I am almost sure I will get ripped for this but that is quite alright, I have been looking at yahoo finance I am not doing day trading, and I am holding some my plays for more than a day. I have not been able to find any decent chart websites or candlestick websites (even though I have absolutely no clue about them.) Through taking in the massive amount of information this place has to offer, deciding to wait a bit longer and get a feel for everything seems to be the most attractive and saving up a bit more money sounds fairly lucrative so I have a little bit more to work with, and I donât have to risk as much. Iâve read that most people blow their accounts up many times before they finally are successful but Iâm going to try to give myself as well rounded of an education before going in on this as possible, from what I have also read paper trading has a lot of grey area I have purchased 2 options books one being Natenbergâs Option Volatility and Pricing, the other being Options as a strategic investment to try and better my knowledge of options which is fairly small. Iâm considering some books by Alexander Elder for psychology and a few TA books by John Murphy and Steve Nison. Once again, flaming, opinions, KY, suggestions are always welcome. edit: Not trying to trade for a living, don't have enough money at this point in time maybe in the future if I can take away enough knowledge and develop some good skills to but right now it just isn't realistic. Just trying to take in as much information as possible about all of this since it is still kind of new to me.