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Any advice for a future trader? I'm a college student looking to begin trading and I'm not sure how to. Are there any suggestions where to begin my research? Any tips or tricks I should be aware of? g.ghawi 2/21/08
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6 COMMENTS
Posted by j - Apr 13 2008 @ 5:36 PM Re: Any advice for a future trader? Are you trading options, equities, or futures? (or all three) Have a system and discipline in place. Practice trade until you can get 15 correct trades. Keep your losses small as possible. Use mental stops and know where/when to get out if it's not going your direction. Let you profits run, but practice good money management esp in the current market environment. Find a good mentor. Best J Posted by John - Apr 7 2008 @ 2:03 PM Re: Any advice for a future trader? Check this site out...bigwavetrading.net Posted by JakeH - Mar 13 2008 @ 3:46 AM Re: Any advice for a future trader? P.S. though my email would come up, guess not jacobhammer@hotmail.com Posted by JakeH - Mar 13 2008 @ 3:44 AM Re: Any advice for a future trader? I'm a college student too and started trading 3 years ago in my first year out of high school. I was lucky enough to get in at the start of the recent bull market and so the times were very forgiving for me. Even so I still did not become a consistently profitable trader until about a year ago, and the reasons are these: I didn't have a strict plan to follow and didn't manage my risk. Make sure you develop a concept/s to trade that suit you and your style and put these into a quantifiable plan, e.g. what are my entry, exit and risk/position sizing rules. Then make sure you aggressively manage your risk (especially if your trading with leverage). Once you have these rules in place learn to manage yourself and your emotions. Good luck and If you need any suggestions/help feel free to email me Posted by Leeroy - Mar 7 2008 @ 9:12 AM Re: Any advice for a future trader? My advice as a newbe would be - dont trade indexes, maybe low cost but very risky, learn how to use stop loss & limit orders and the most important - capital preservation, no trading capital = no trading!! Dont risk money you cannot afford to loose otherwise you will get emotionally tied to it and have sleepless nights. Know why you make each trade and what you want out of it - other than that go for it and enjoy yourself! Fortune favours the brave! Posted by Jerry1st - Feb 27 2008 @ 1:04 PM Re: Any advice for a future trader? Keep it Simple with realistic expectations - you are learning a vocation -trading is not get rich quick with a 3 day seminar. - Learn Money Mangement for your portfolio and - Learn Risk:Reward Trade Management - Forward Test Suggested Reading: - Trading in the Zone - by Mark Douglas - Worlds Greatest Stock Operator - Jesse Livermore - by Richard Smitten Good Trading and Have Fun, Jerry Furst Investors Education Network |
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