Beginner Trader

[lanceva]

Hello everyone,

I'm new on the site and just wanted to introduce myself as well as ask a few questions. I have about $25,000 that I was going to spend on a boat, but I decided instead to ear mark it for trading. For a while now, trading has interested me but I never became aggressive and sat down to learn the art of trading. So I've decided to start reading as much as I can and I really appreciate the first few sticky threads on this forum.

Commodities, in particular the agriculture commodities, interest me a lot and I really enjoy reading the farm report from the USDA. Is commodity trading more risky than let's say stock trading? Would it be wise to start out with commodity trading or should I learn something a little more beginner friendly? Is $25,000 an appropriate "bankroll" to begin trading?

My plan is to spend the next six months reading and studying. After that I'll spend six months to one year paper trading and then if I am profitable, I'll go live. I am not looking to become a millionaire from trading, instead even making $50 after costs each week day would be nice. Can anyone offer any book recommendations on the subject of commodity trading?

Thank you

 

[Vaco]

welcome to t2w,

imho all instruments seem to be difficult until you can make a living trading them so if commodities are what interest you that is what you should go for. Its important that you enjoy what you are doing so choose a timeframe and instrument that does not leave you bored as this is dangerous to your capital.

The only suggestion i can give you is that whilst you are reading and studying you have the screen on and watch your chosen instrument, over the year that you are studying and paper trading you should get to know your chosen instrument quite well.

Good luck

 

[shadowninja]

Good approach. Take your time to learn or just give your $25k away.

 

[new_trader]

Buy a boat.

 

[Charlton]

Trader sea-dog

Buy a boat.

Yeh,but boats diminish in value over time and you keep on having to put in funds to maintain them, whereas learning to trade ............................

Hmmm - yes buy a boat

Charlton

PS - But make sure you learn international distress signals as this old trader sea-dog did

Coast Guard Rescues Two in Chesapeake - Southern Maryland News, Charles County, Calvert County and St. Mary's County News

 

[Lee Shepherd]

Buy a boat.

Just finished reading the post and thought immediately what to write, unfortunately New trader beat me to it.

 

[mb325]

99% of these threads are beginners thinking they're gonna get rich quick and easy by going live tomorrow, THEY should be the people you tell to buy the boat, not a guy who's considering going live in 12-18 months if he's successful.

Good luck Lanceva, can't help you on the commodities front myself but imo if you stick to your plan you have a much better chance of success than most.

 

[Lee Shepherd]

99% of these threads are beginners thinking they're gonna get rich quick and easy by going live tomorrow, THEY should be the people you tell to buy the boat, not a guy who's considering going live in 12-18 months if he's successful.

Good luck Lanceva, can't help you on the commodities front myself but imo if you stick to your plan you have a much better chance of success than most.

Shut it loser.

We're all intitled to our opinions and hope that you respect mine. My opinion is that you dont have one.

I'm sticking with the boat.

 

[mb325]

Shut it loser.

Crackin out the big guns now eh?

 

[Sundayjumper]

Buy the boat and enjoy it for 12-18 months, then (if things have gone well) sell it to fund your live trading account.

Steve.