Educational Advice

[alex98]

Hello!

I'm a young student and am looking to get into trading.

Basically, I have spoken with the "London Academy of Trading" and I WAS sort of interested in studying there, but after doing some research, I've been turned off the idea, and also seeing as the want 3000 quid off me for 3 months online material and I week on the trading floor!

So I'm not looking to learn what I need to learn to be a trader on here, I can already tell there will to many people giving too many opinions and there'll be no way for me to absorb it all. So I'm looking for anyone to recommend anything to help me learn to become a consistently successful trader e.g. an institution, an apprenticeship, a website, a book, even if you know someone looking for a junior trader, LITERALLY any advice will be greatly appreciated.

Thank you!

 

[NVP]

First you did well to avoid spending 3 grand on stuff you can learn with some effort and research.....the web is plentiful for sources to learn about trading

Go to the beginners area here at t2win and just start learning ......it can be a Lille random but take your time and go where your interests take you.....try to cover all the basics well so,you understand what most traders look for re systems ......then eventually REALLY try to specialise .....that's the key to success in anything........become an expert in an area

Good luck......it's not an overnight thing......you will find it lasts a lifetime if you become hooked like many of us here at t2win

N

 

[knowledgeiskey]

WOW 3 GRAND! That is ridicuolous - i would say read people's trading journals!

 

[malaguti]

So I'm looking for anyone to recommend anything to help me learn to become a consistently successful trader e.g. an institution, an apprenticeship, a website, a book, even if you know someone looking for a junior trader, LITERALLY any advice will be greatly appreciated.

I could only recommend two books that for me, really helped things fall into place
the first is learning point & figure so duplessis, the definitive guide and a strategy by a guy called weinstein..there is a thread here that is well worth looking at. its longer term but I find that's where the success is, although the same methodology can be applied to shorter timeframes. It really is a very versatile method
http://www.trade2win.com/boards/technical-analysis/134944-stan-weinsteins-stage-analysis.html
consistent, simple and profitable

 

[dianajs]

3000 (pounds, I assume?) is a huge amount of money for that sort of thing, especially considering all the free or cheap information available out there, both online and as books you can purchase. Personally, I would recommend to read anything and everything to do with candlestick and wave analysis.

 

[dbphoenix]

Hello!

I'm a young student and am looking to get into trading.

Basically, I have spoken with the "London Academy of Trading" and I WAS sort of interested in studying there, but after doing some research, I've been turned off the idea, and also seeing as the want 3000 quid off me for 3 months online material and I week on the trading floor!

So I'm not looking to learn what I need to learn to be a trader on here, I can already tell there will to many people giving too many opinions and there'll be no way for me to absorb it all. So I'm looking for anyone to recommend anything to help me learn to become a consistently successful trader e.g. an institution, an apprenticeship, a website, a book, even if you know someone looking for a junior trader, LITERALLY any advice will be greatly appreciated.

Thank you!

The market couldn't care less about candles or wave analysis or just about anything else that's espoused by the "industry". Point-and-figure is fine as a form of short hand, but duPlessis was late. Stage analysis is also fine but Weinstein is very late, and most everyone applies stage analysis incorrectly.

If you want to learn the basics, correctly, read the guys who started it all: Dow, Wyckoff, Livermore. To start, check this link. And it won't cost you a dime.

Db

 

[alex98]

Thank you all, a lot for your opinions. Does anyone know of any companies that regularly employ young aspiring traders? Or are known for training well?

 

[Joho]

Thank you all, a lot for your opinions. Does anyone know of any companies that regularly employ young aspiring traders? Or are known for training well?

you can open demo account and start to train your traiding skills

 

[alex98]

you can open demo account and start to train your traiding skills

I have already started a demo account and have made under £1000 in 2 days of trading whilst being at school. I'm using the app "Trading 212", if anyone has any opinions on this?

Sometimes I feel like I'm shooting from the hip, as it were, however sometimes I feel confident when I launch myself into a trade. However, I've consistently made money on each trade, whether it be 30p or £300.

 

[Joho]

I have already started a demo account and have made under £1000 in 2 days of trading whilst being at school. I'm using the app "Trading 212", if anyone has any opinions on this?

Sometimes I feel like I'm shooting from the hip, as it were, however sometimes I feel confident when I launch myself into a trade. However, I've consistently made money on each trade, whether it be 30p or £300.

i never heared about this application

 

[f2calv]

i never heared about this application

Ditto!

Avoid paying out the £3k, you'll learn a lot more faster by sticking a few hundred £ into a FXCM mini account (or similar) and trading with *real* money - there is no emotion when trading on a demo account and you'll find emotion can be a massive part of trading.

https://www.fxcm.com/uk/open-account/?account=mini

 

[mlawson71]

I have already started a demo account and have made under £1000 in 2 days of trading whilst being at school. I'm using the app "Trading 212", if anyone has any opinions on this?

Sometimes I feel like I'm shooting from the hip, as it were, however sometimes I feel confident when I launch myself into a trade. However, I've consistently made money on each trade, whether it be 30p or £300.

Still, if this is your first time trading I wouldn't recommend opening a live account. Not to mention that trading with a live account is different than trading with a demo one.

 

[alex98]

Still, if this is your first time trading I wouldn't recommend opening a live account. Not to mention that trading with a live account is different than trading with a demo one.

How would you say the live account is different to a demo? Is it because in a live account your buying and selling actually affects the markets?

 

[arigoldman]

How would you say the live account is different to a demo? Is it because in a live account your buying and selling actually affects the markets?

No, it's the psychological effect it has on you. No material impact.

 

[alex98]

No, it's the psychological effect it has on you. No material impact.

I can understand, has Amy of you guys got a preferred bit of software that you use to trade?

 

[mlawson71]

How would you say the live account is different to a demo? Is it because in a live account your buying and selling actually affects the markets?

Unless you are trading with a massive sum of money you won't affect the market by opening a trade. The demo account does reflect real market conditions though, and as such it can be very useful for testing and practise purposes.
As for the difference - as arigoldman said, you'll be in a different place emotionally when you trade with real money. Whether it's because you're afraid to lose them or you're eager to profit more, that psychological factor is something a new trader should always take into account.

 

[dbphoenix]

When you make a commitment, your attitude should be that it is just an ordinary business transaction involving risks common to any other business venture. If it turns out profitably, well and good. If it results in loss, no serious harm will be done because you have limited your risk with a stop order, and you know in advance that no business can be conducted without occasional setbacks,so you are prepared to accept them philosophically.

Thus you will waste no time regretting losses or lost opportunities. The only value of a mistake is the lesson it may teach. Hence the only thought you will give to your errors will be studying the reasons for them. (Richard Wyckoff)