Hey Everyone

[Tinnaz369]

Hey everyone, thanks in advance for taking the time to read.

Heres a brief introduction.
I'm a finance and investment student at an english university. After studying I hope to carve out a career in trading. I have looked into quite a few different areas but haven't totally decided on a path yet! :smart:

My dream is to work and live in Wall Street, who's isn't right?

Currently I have little to no trading experience, but I have had a decent introduction to the overall industry after completing my first year at uni. We haven't done any actual trading, more just exploring the fundamentals.

What do I ask of you? Well i'm not quite sure yet but I'm sure questions will come to me as I look further into everything.

It's the summer holidays so I have a lot of time to try and absorb as much information as possible. I have spent some time on Wall Street Survivor and on the Bloomberg terminals at uni. I've also read through quite a few different threads and articles over the internet. I was wondering if there are any books that anyone would recommend to a novice?

I'm going to pick up a couple of technical analysis books tomorrow because Day Trading is something which interests me quite a bit. Are there any in particular which are highly recommended? I will be practicing some demo spread betting on forex in a few days once I have a few ideas to try. Are there any particularly good demo platforms out there?

I understand it's probably quite difficult to interpret what I am asking here. I guess you could say I am looking for general guidance/help/support. I'm sure there are plenty of people on here who have found themselves in a similar situation to mine. The world of finance is massive and quite daunting at first. What helped put you on the right path? Whether it be a quote, a book, a video, a theory, a training scheme etc.

Anything advice would be helpful and most appreciated.

Cheers.

p.s sorry if the post is a bit jumbled up or poorly written, I'm sure the structure will improve in the near future.

 

[random12345]

Hey everyone, thanks in advance for taking the time to read.

Heres a brief introduction.
I'm a finance and investment student at an english university. After studying I hope to carve out a career in trading. I have looked into quite a few different areas but haven't totally decided on a path yet! :smart:

My dream is to work and live in Wall Street, who's isn't right?

Currently I have little to no trading experience, but I have had a decent introduction to the overall industry after completing my first year at uni. We haven't done any actual trading, more just exploring the fundamentals.

What do I ask of you? Well i'm not quite sure yet but I'm sure questions will come to me as I look further into everything.

It's the summer holidays so I have a lot of time to try and absorb as much information as possible. I have spent some time on Wall Street Survivor and on the Bloomberg terminals at uni. I've also read through quite a few different threads and articles over the internet. I was wondering if there are any books that anyone would recommend to a novice?

I'm going to pick up a couple of technical analysis books tomorrow because Day Trading is something which interests me quite a bit. Are there any in particular which are highly recommended? I will be practicing some demo spread betting on forex in a few days once I have a few ideas to try. Are there any particularly good demo platforms out there?

I understand it's probably quite difficult to interpret what I am asking here. I guess you could say I am looking for general guidance/help/support. I'm sure there are plenty of people on here who have found themselves in a similar situation to mine. The world of finance is massive and quite daunting at first. What helped put you on the right path? Whether it be a quote, a book, a video, a theory, a training scheme etc.

Anything advice would be helpful and most appreciated.

Cheers.

p.s sorry if the post is a bit jumbled up or poorly written, I'm sure the structure will improve in the near future.

Outside of the options fraternity, I'd personally say the only books worth a damn are the Market Wizards series by Jack Schwager.

Though they will not teach you how to daytrade, they are not a waste of money. A rarity among trading books!

Options books generally have more intellectual weight behind them than 'pure' trading books and may be of more interest if you're the cerebral type.

Some people swear by Al Brooks' trilogy, which covers day trading. I have perused these and I don't personally doubt his ability, but imo the books only really apply to trading the emini or full size SP despite claims it applies to all markets (could perhaps apply to interest rate derivatives too). I could be wrong. About everything.

 

[timsk]

Hi Tinnaz,
Welcome to T2W.

I was wondering if there are any books that anyone would recommend to a novice? I'm going to pick up a couple of technical analysis books tomorrow because Day Trading is something which interests me quite a bit. Are there any in particular which are highly recommended?

'Ere you go: Which Books should a Beginner Read?

I will be practicing some demo spread betting on forex in a few days once I have a few ideas to try. Are there any particularly good demo platforms out there?

'Good' is very subjective. One man's meat is another man's poison etc. Check out the brokers listed in our Reviews section and go from there. Also, this FAQ may help: Can You Recommend a Data Feed, Charting Software & Broker?

What helped put you on the right path? Whether it be a quote, a book, a video, a theory, a training scheme etc.

All of the above! Sorry, not very helpful, I know. However, if you asked 100 people who have been trading any length of time, I'd bet most of them would say it's quite a combination of factors that have been helpful and influential to them. Of those that can pinpoint a specific 'lightbulb moment' - it's usually different from one trader to the next. So, I could say XYZ was massively influential in my development and it would have zero impact or influence on you.

If I were in your shoes now, I'd read the FAQs, Stickies, [Best Threads] and Articles here on T2W, starting with the first two linked in my signature, below. That'll keep you busy for a good long while and, when you've absorbed as much as you can, you ought to start to formulate ideas about the path you want to go down or, even, to turn your back on this game altogether!

Let us know how you get on and, if you've got any more questions, we'll do our best to help.
TIm.

 

[Tinnaz369]

Outside of the options fraternity, I'd personally say the only books worth a damn are the Market Wizards series by Jack Schwager.

Though they will not teach you how to daytrade, they are not a waste of money. A rarity among trading books!

Options books generally have more intellectual weight behind them than 'pure' trading books and may be of more interest if you're the cerebral type.

Some people swear by Al Brooks' trilogy, which covers day trading. I have perused these and I don't personally doubt his ability, but imo the books only really apply to trading the emini or full size SP despite claims it applies to all markets (could perhaps apply to interest rate derivatives too). I could be wrong. About everything.

Hey man, thanks for the quick reply! I have heard good things about Market Wizards so will make sure I have a look. I can loan a lot of the books from the library so shouldn't waste too much money.

 

[Tinnaz369]

Hey Tim,

Again, thanks for the quick response!

Cheers for the links, I'll have a look through them right away.

Regarding the light bulb moment, I knew after I posted this I would get a response along those lines. Maybe it was a little bit hopeful on my part! It would make the game fairly easy wouldn't it... Ha.

Look forwards to exploring the website and getting to know the forums.

Cheers.

 

[NVP]

Hey everyone, thanks in advance for taking the time to read.

I understand it's probably quite difficult to interpret what I am asking here. I guess you could say I am looking for general guidance/help/support. I'm sure there are plenty of people on here who have found themselves in a similar situation to mine. The world of finance is massive and quite daunting at first. What helped put you on the right path? Whether it be a quote, a book, a video, a theory, a training scheme etc.

Anything advice would be helpful and most appreciated.

Cheers.

p.s sorry if the post is a bit jumbled up or poorly written, I'm sure the structure will improve in the near future.

after 20 years of drifting in and out of various markets, Strategies , Styles I came across a couple of (rare) articles on Forex Strengthmeter trading which fascinated me and made some sence to me...........I've been following that methodolody ever since

I would say that most traders went around the houses a lot in their early years building up experience and knowledge....then returned to (or discovered something) that made sence and they then developed it to where they are now .......

N

 

[Tinnaz369]

Cheers NVP, hopefully one day I will have 20 years experience too!

 

[random12345]

Cheers NVP, hopefully one day I will have 20 years experience too!

Not often NVP is admired for his age.

:clap:

 

[Tinnaz369]

Not often NVP is admired for his age.

:clap:

Woops

 

[ChattiFX]

I would say that most traders went around the houses a lot in their early years building up experience and knowledge....then returned to (or discovered something) that made sence and they then developed it to where they are now .......

N

Agree with this completely... I spent a lot of years going round and round trying too many TA indicators to remember. My biggest mistakes were over complicating things, too many indicators, changing too many variables with no real direction or clear plan... but ultimately I guess this gave me experience and knowledge...

My advice would be to keep things simple. As an example of this have a look at the 3 ducks method thread on here. I don't follow this method myself but reading that thread helped me understand how to structure a system and helped "put me on the right path" definitely.

Good luck

 

[Tinnaz369]

Agree with this completely... I spent a lot of years going round and round trying too many TA indicators to remember. My biggest mistakes were over complicating things, too many indicators, changing too many variables with no real direction or clear plan... but ultimately I guess this gave me experience and knowledge...

My advice would be to keep things simple. As an example of this have a look at the 3 ducks method thread on here. I don't follow this method myself but reading that thread helped me understand how to structure a system and helped "put me on the right path" definitely.

Good luck

Hey Chatti,

I guess what your saying is keep things simple and efficient then build up from there.

I take it your Forex trading? Just assuming based on the name, you may have changed paths or whatever.
Forex is something I think I would be more interested in as the hours are more flexible. Being a student obviously I have various commitments but I think Forex is something which would allow me to still learn/trade around these. I'm going to read through all of School of Pipsology What is Forex? to help me get further to grips with the ins and outs of forex trading once I finally get bored of the beginner articles on here.

I already noticed the 3 ducks thread and I have it saved on my computer. I will be reading through it sometime soon, then will have a look to see if I can spot some on some live charts. Its great that veterans on here share some of their strategies.

I have been taking the advice from this thread and I'm currently just reading through FAQs until I find something which either interests me or confuses me, then investigating it a bit more. All the newbie stickies weren't far off my current level so it was decent reading. In the last 2 weeks I already feel I have learnt more doing this than at my first year at uni... Ha!

I think I will probably start paper trading in the next few weeks. Then, depending on how that goes, maybe have a go at some small live forex trading in the near future. Haven't decided what indicators I am going to be looking for totally yet, but I have a couple of ideas so far.

Exciting times. I'm already finding myself losing sleep from just thinking through things I have learnt and trying to put them into some sort of context / plan. Quite sad I know, but you can't beat youthful enthusiasm

Cheers for the reply anyway mate,
All help is always appreciated

 

[Tinnaz369]

Big dreams you have here, but you should take it one step at a time.

Quitters never win, winners never quit

Think and Grow Rich - Napolean Hill

 

[Tinnaz369]

Agree with this completely... I spent a lot of years going round and round trying too many TA indicators to remember. My biggest mistakes were over complicating things, too many indicators, changing too many variables with no real direction or clear plan... but ultimately I guess this gave me experience and knowledge...

My advice would be to keep things simple. As an example of this have a look at the 3 ducks method thread on here. I don't follow this method myself but reading that thread helped me understand how to structure a system and helped "put me on the right path" definitely.

Good luck

Sorry mate, I did write a lengthy reply but it has to be passed by administration?
Think its because I stuck in a hyperlink.
Anyway.
Going through Forex school on babypips. Hopefully then start doing some paper trading.
Yeah i had already spotted the 3 ducks, its pretty good! I was actually looking for it on some live charts for a little while today, got the 1st two ducks quite a lot, but could never quite find the last one. Oh well, I'm sure I will in the future, but to be fair I wasn't on for any length of time. Was really just using the live charts to help imprint the system onto my brain.

Cheers for the advice anyway,
its all appreciated!