Results 11 to 14 of 14
06-23-2014, 10:20 PM #11
Forex is a great place to learn, i traded demo Forex for a few months actually. It will teach you a lot about technical analyses. Read up on babypips.com and do their school, even if you end up straying away from forex it will be a great learning experience.
When i started learning i literally typed everything that was on my mind into Google or i youtube'd it. Just start searching everything you can possibly think of, i would just sit there and type like "what is the stock market, what is a market order, what is a limit order, what is a breakout etc. I did not have any mentors so it was very hard for me when i got started but i have learned a ton in a short amount of time and met some great people that have helped me out along the way. Do not expect to get rich quick, and always remember the market is always right.
I think paper trading is a great way to start learning and start understanding how things work. I would ONLY use paper trading to get used to the platforms, learn the markets and test your own strategy. Do not think that when you are profitable in a demo account that you can easily become profitable in a live account. This is a mental game and anything you thought you knew about how to trade on paper goes out the window when you place a live trade with your own money.
When/If you do go live start with a SMALL account that you can afford to loose and start getting your feet wet. I have witnessed a lot of people and some of my friends get into trading only to quit because they do not realize how much goes into it. I honestly believe that is why 90% of traders fail, they don't realize how much effort we as traders put into learning every single day, or how long it has taken me (or anyone) to get to where they are now. Trading is a huge mental game and it takes a lot of self control.
Any questions and ill try and help the best i can.
06-29-2014, 05:44 PM #12
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07-16-2014, 01:16 AM #13
In todays markets is it still possible for this to be a living? Or maybe a better way to put it would be if it is still feasible like it was in the last few decades. Spoke with a few guys that are traders at BB investment banks and prop firms and they're all telling me that a lot of traders are getting out and those considering coming in should consider something else. I don't like sounding pessimistic about this, just not sure if I'm being hit hard by reality. Since trading on the institutional side is declining or transitioning into a different phase, how is it on the retail level for someone trading their own money?
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07-16-2014, 06:02 PM #14
I have been trading for about 2 years now and I am still getting used to fundamentals as well as learning new things daily.
In my short experience, the best way to learn is through trial and error. Listen to the news, watch CNBC, know what is happening within companies that your interested in or that seem like they're on the move. I would be ashamed to share my P/L for the first 3 months of my options trading account. It was a terrible number, but I learned alot.
I have recently started making good profits and closing 10/15/20% on the day which is always a great feeling. This is not a get rich quick thing, if you want it to be, play the lotto.
Expect modest gains, for every day your up expect a day down. Its just how it works.If it Floats, Flies or F**ks, Rent it.