Where Do I Get Started?

Discussion in 'Educational Resources' started by mbj316, Sep 6, 2011.

  1. mbj316


    I've wanted to get involved in stocks and investing for years now, but have never really known where to start. I'm currently about halfway through college and beginning to consider what I plan on doing with the rest of my life and the flexibility of day trading is something that appeals to me. I've looked into sites like Share Builder that have a low-entry point, but I'm not sure if that's the right route to go.

    So, my question is - if I want to get involved in day trading, what's the first thing I should do?

    I'll be starting with at most about $1k, which I know is not very much at all, but I figure it's a start and because I'm still in school and mostly supported by my parents, I can afford to make mistakes and learn from them.

    Thank you in advanced for any help!
  2. Hi, I'm part way through training with Apiary Fund. I'm new here so not sure if we're allowed to post links but you'll find it via Google. They have a free webinar you can attend that explains their system, but basically they train you, then you trade their money and you take a cut of it.

    I can't say how good that part is as I'm not at that stage that, I'm a total beginner so I need to to do the full training, but I'm learning loads and the training has worked out cheaper than others I looked at.

    The guys who run it are really nice, they always answer questions etc and are pretty hands on.
  3. stav


  4. First thing you should know is that you're going to lose money at first. If you're willing to take a loss at the beginning of your career then you're set. If you're not in a position to take a loss then don't get in.
  5. find a REAL mentor!dont put a single trade without a mentor.
  6. If I knew you I would be able to answer this question with a little bit more insight.
    Figure out how to achieve self mastery. Any personal demons will emerge with full force once you have money in the markets. Making decisions is important. You will be making quick decisions and you will have to back up your decisions or change your mind. It can be tricky.

    Books won't make you a trader but you should still read. Here is my list:

    Trading Rules that work 28 rules
    Market Mind Games
    Confessions of a Stock Operator

    I am not sure if 1000 USD will be able to allow you to open an account with think or swim but they have great educational resources. I would say listen to their shadow day trader chat room. It is free and the info is useful IMHO. It is not the end all be all but if you spend 2 months listening and watching you will learn important things.

    Are you mathematically inclined? Into computer programming? Stats and computer programming can be useful.

    Day trading is very difficult. Do not think it is easy even if you have a winning streak.

    I will repeat what I said you need to understand that this is extremely difficult and if you are to succeed you will have to put a lot of work and effort into it. There are statistics that support the saying that 90 percent of traders lose 90 percent of their money in 90 days.