Young trader needs advice

Discussion in 'Professional Trading' started by EvanDM, Feb 8, 2007.

  1. EvanDM


    I discovered this forum a couple days ago and have been reading a lot of the passed forums. There seems to be a lot of professionals here that know what they are doing and figured this would be a good place to ask for advice.

    I am a 22 year old student with a little over $22,000 in equity positions. For the past year I have been swing trading based mostly on market news, recommendations, etc. I have done ok but nothing like I aspire to be. I am using E Trade and Scottrade right and I am in the market to change brokers because I am becoming more active. I have narrowed it down to Sink or Swim or Just 2 Trade based on commission, free streaming quotes, software and reviews. Does anybody use any of these brokers and do they like them? I have read a lot about Sink or Swim, but not much about Just 2 Trade.

    But that is not the main reason I posted here. My main reason for posting here is to ask what do I have to do to take the next step to become a successful self investor. I know I don’t have enough equity to day trade; but what have others done to build up their capital? What strategies have you used; trading stocks with volume, technical indicators, etc? I am not asking for a mentor (even though I would welcome one) I would just like to pick the brains of the all the professionals. Any advice is welcome

  2. Evan;
    I use IB. And you can realisticaly figure trading is like medical science;
    many years of school before you get to read charts, then intern,practice. And more than a few traders & Docs got out of the business because of the insurance prenmiuim/risk /cost of doing business.

    I am re reading Jack Schwager top trader books again/again/again.:cool:
  3. Trade small

    Odd lots

    Focus on the % gains not on the $ gains...this will prevent you from using too much leverage and over-trading
  4. EvanDM


    why odd lots?
  5. tyler19


    trade futures?
  6. I'll give you advice that was given to me long ago

    you can do it, it is possible, easy money after you graduate

    that is all you need

    work hard for 4 years, day and night, and see you out there
  7. nkhoi

    nkhoi Moderator

  8. EvanDM


    i have never really considered futures before and I don't know much about them, actually nothing at all. How do they compare options? I have considered options before but I am not educated enough to start trading them
  9. tr222


  10. Options are like and deadly, but it'll offer a good high for your dollar :).

    #10     Feb 8, 2007