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Author Topic: wanting to get into becoming a stock trader.
justinbreaux
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what would be the best route to take to become a stock trader?

justin


Posts: 2 | From: mccomb, ms, usa | Registered: Dec 2003  |  IP: Logged | Report this post to a Moderator
Jeremy
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Well it would help to know your current situation and your goals. Do you have a lot of money and are looking to grow your portfolio over time? Do you have some spare cash you simply want to trade daily or weekly looking for second income?

Deciding on how to get into the market will depend greatly on what you want to get out of being in the market, as there are many different approaches. If you can provide some more info, I'm sure we can help you get started


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justinbreaux
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My Goals are simple. I want to make money. I have some money, not a lot. that is why i'm getting into the game. I do wish to grow my portfolio over time. I think i do want to make this my second income.

I just need resources, please help me


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My advice for you would be to open an account
with freetrades, they have to be the cheapest
around; that's who I use anyway. If anyone has had any problems with them, I'd sure like to hear it, because I've had nothing but
very good results with them.
The most important thing you can do is NOT go and buy every trading book some one recommends, don't subscribe to these "848% gains in a year" sites, and do a very intensive search of sites that will help you.
I'm not sure what stocks, or even stocks, that you're intending to trade, but there is pinksheets.com, otcbb.com, smallcapcenter.com, etc..... depends on what your investment interests are. I've listed the very small cap investment sites, and there are many, many more, including this one, for small caps, OTC, and pinks.
Another thing, if you can make 10%/week, your doing fantastic. Think about it if you start with $5000 !!!!
But most importantly, look for good info, and
paper trade if necessary to begin with; it'll pay off by the 1000%'s in the end if you're really unsure at this point. The market's a vicious place, and doesn't care a thing about you or anyone else. It can be fantastic beyond belief when you make a good investment and reap huge rewards.
Psychological understanding of yourself and your competitors is one of the very most important things, money management is up there too, and the desire to learn, work, and
do better each day are all essential.
It's difficult trying to state so many things
at one time, but I wish you luck.
So many fail, but you can be the one who succeeds if you only have patience and work at it. Learn TA, candlesticks, etc...., etc..
You can learn 99.9% of this stuff free on the
net if you just search through boards like this and seek out knowledge; it's there for the taking.
Good luck !!!

Posts: 50 | From: Houston, TX USA | Registered: Oct 2003  |  IP: Logged | Report this post to a Moderator
accesscard18
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"The most important thing you can do is NOT go and buy every trading book some one recommends,"


well then how are you going to get the information you need to start trading? I know that allstocks is a great site,,,but you can't just buy and sell base on someone...

thanks, i am still a newbie (just asking)


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Okay, access, that's a very valid question.
To qualify the statement I made, I'll say this; read, read, read, all that you can on the net; as stated, there's so much free that
it's unreal. And Allstocks' is one of the very best sites to pick up a lot of this info.
I would say yes, buy some books, but only after you've read everything possible. There are so, so many forums and sites with so much free info, that I guess that's what gives me the attitude I have towards books, plus the fact that it's so very, very difficult to sort out the good from the bad from the so-so; and believe me, books are expensive.
At this point in time, I'd only recommend a couple of books; "Trading for a Living" and "The Swing Trader". Those are just MHO..!
The main thing is do not be deluded into thinking that some book is going to tell you every last thing about the market or anything
else. They're not.
I can only say, if you're going to buy books,
research them and KNOW what they are before you go and purchase them; the books I listed are relatively inexpensive, but some of these
old books with outdated info will cost you upwards of $50 and a lot more. Build a library slowly, and chose very, very carefully. Most authors and book outlets are
trying to sell a product, not necessarily what you need at all.
Again, good luck !!!!!

Posts: 50 | From: Houston, TX USA | Registered: Oct 2003  |  IP: Logged | Report this post to a Moderator
   

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