confused and need help

[jkv]

Hello,

I am looking to learn to trade. I live in the UK and have some money I can put towards my efforts. I was wondering if anyone could recommend whether it is worth signing up for a training programme / seminars / classes to learn to trade or whether I can find this info myself?

I haven't got much time at the minute, but learning to trade, and trading to forge an income is a dream that I want to fullfill sooner rather than later! Assuming I am a complete beginner, how should I best start to do this? can anyone recommend any books that will teach me or any blogs that can show me step-by-step how to begin trading?

thanks,

J

 

[pboyles]

Hello,

I am looking to learn to trade. I live in the UK and have some money I can put towards my efforts. I was wondering if anyone could recommend whether it is worth signing up for a training programme / seminars / classes to learn to trade or whether I can find this info myself?

I haven't got much time at the minute, but learning to trade, and trading to forge an income is a dream that I want to fullfill sooner rather than later! Assuming I am a complete beginner, how should I best start to do this? can anyone recommend any books that will teach me or any blogs that can show me step-by-step how to begin trading?

thanks,

J

All the seminars and courses you see are scams to some degree or other, stay well clear of them. To be honest I would recommend you forget all about trading, you are highly unlikely ever to make money and you will waste a lot of time and effort trying to. Almost nobody makes a living trading, though plenty spend years trying. Of course the people trying too sell you crap will say otherwise, just ask some of them for proof of how much they make trading and you'll get some interesting excuses.

 

[ffsear]

You'll also find a lot of people who tell you its not possible. To quote "The pursuit of happiness" .....

"You got a dream... You gotta protect it. People can't do somethin' themselves, they wanna tell you you can't do it. If you want somethin', go get it. Period. "



The only advice I will give you is don't pay for anything. All the knowledge required is fully obtainable for free! That includes seminars! (just ignore the sales )
promotion!)

As a staring point - have a look at Technical Analysis, and also a book called "come into my trading room"

It is possible, but it requires a lot of determination and discipline.


Best of luck

 

[malaguti]

I second FFSear. Wise words and yes it can be done.
I might add to the reading list though. Come into my trading room didnt do anything for me, but whatever inspiration you can get however small is often worth it.
I would add to the reading list John J Murphy technical analysis of financial markets.
I "paid" for an education, and it was all in that book.

 

[wino59]

Hello,

I am looking to learn to trade. I live in the UK and have some money I can put towards my efforts. I was wondering if anyone could recommend whether it is worth signing up for a training programme / seminars / classes to learn to trade or whether I can find this info myself?

I haven't got much time at the minute, but learning to trade, and trading to forge an income is a dream that I want to fullfill sooner rather than later! Assuming I am a complete beginner, how should I best start to do this? can anyone recommend any books that will teach me or any blogs that can show me step-by-step how to begin trading?

thanks,

J

I agree with everything that has been said so far. Definitely get some sort of good foundation of technically analysis.

Also really look at yourself, and try to determine what kind of person or personality you have. It took me awhile to realize this, but I chose to option trade, and collect theta, these positions take time to develop and usually I was in the trade for 40 to 50 days, I got bored to tears, though I didn't have to watch the market everyday, it just wasn't working for me. I though about all the money I could be making on the swings, and it is a much faster reward.

Day trading wasn't for me either, because I can't be glued to the screen, and I would rather wait for a good setup before I enter.

A lot of what determines your success is going to be based on the type of trading, your ability at technical analysis, and your personality. All 3 have to work together.

The psychology of trading is probably the most important thing to master, and most people do that by developing a written trading plan, and sticking to it 100%, if they follow the rules they set for themselves, it takes the emotion out of it, and it is a numbers game at that point.

Good luck, don't give up if it something you really want to do... sign up for a free account and paper trade on a demo account for year, then see if it is still something you want to do.

 

[miguelmadrid]

All the seminars and courses you see are scams to some degree or other, stay well clear of them. To be honest I would recommend you forget all about trading, you are highly unlikely ever to make money and you will waste a lot of time and effort trying to. Almost nobody makes a living trading, though plenty spend years trying. Of course the people trying too sell you crap will say otherwise, just ask some of them for proof of how much they make trading and you'll get some interesting excuses.

That is true, I agree all

 

[K21000]

I found the (derivative guide to point and figure) helpful..also finding what your trading strategy will be.. The intelligent invested also by ben graham, any books by Peter lynch

 

[K21000]

Don't listen to the mouth drabbers, they just like, to be negitive. from what I've been told they bitter & been burnt. If its something that strikes an intreast, work hard, read heaps use your ani****ive..

 

[duderex]

There are free e-books for you to learn trading. Also, there's plenty training videos available in Youtube. Or you might attend some course, there are free and paid courses and seminars.

 

[NVP]

jkv.....Most of above posts ring true

You can eventually be profitable from trading but it takes rediculous levels of focus and time to get to that place ............and you are only limited to the capital base you are willing to risk so again without substantial means at your disposal you will not become wealthy

Imagine declaring here that you wanted to become the senior neurologist at your countries premier private hospital and asking us if that is possible.....consider what that would take to achieve .........

Still keen ?
N

 

[Hoggums]

There is no quick route to making money I'm afraid. You say "trading to forge an income is a dream that I want to fullfill sooner rather than later!"

Nothing wrong in having dreams but it's the "sooner rather than later" bit that will be your downfall. I can tell you that if you rush into this you will be punished by the markets. You are trading against professionals that are eager to take your money.

You need to demote this to plan-B which you pursue in the background while plan-A is a more realistic way of earning a living. Then if you are good, in 5-10 years maybe you can follow your dream.

 

[Tradesight]

Hello,

I am looking to learn to trade. I live in the UK and have some money I can put towards my efforts. I was wondering if anyone could recommend whether it is worth signing up for a training programme / seminars / classes to learn to trade or whether I can find this info myself?

I haven't got much time at the minute, but learning to trade, and trading to forge an income is a dream that I want to fullfill sooner rather than later! Assuming I am a complete beginner, how should I best start to do this? can anyone recommend any books that will teach me or any blogs that can show me step-by-step how to begin trading?

thanks,

J

Go for it! If you don't you'll always have it in the back of your head that maybe I should have put myself out there and regret it.

Here are a couple of thoughts...
1-Use the forum to your advantage, follow someone who is insightful and speaks simply...I've seen plenty here...ask a moderator to point you to one
2-Get a book or two that illustrate price patterns
3-You can't learn to play golf by watching the British Open on TV
4-Don't take a golf lesson from someone who doesn't actually play golf
5-Keep it simple, letting things get unnecessarily complicated creates stress
6-When starting, be a specialist, focus on a couple of stocks, index or maybe one currency pair, and keep you time frame consistent (changing time frames for new traders from short to long term can be disastrous.
7-Always have a plan and a stop

Best wishes,

Rich