New to the site and trading. ^^

[Overpowered trader]

Hay everyone I just started trying to learn how to trade stocks and my main goal is to have a good income off of it. I have recorded classes that i got that was 6000$ from "Rich Dad Education".(A friend bought them for me) I'm here mainly looking for tips and hints to make sure I can do my best at trading. I know that there will be times that I make mistakes and lose money. BUT i figured if other people can get rich or well off from stocks then I could too. ^^ But yeah sorry for being a noob, just looking for advise to see what I should be checking and what stocks to stay away from so on so on. It would also be cool to here stories from experienced traders as well. :clap: I will have many questions so take it easy on me. Ps: My income is some what tight, looking for a change with that hopefully. I'm open to questions that I need to answer, so feel free to ask. OH! Also it would be helpful to get a stock trading websites that are free for now, something with alot of tools to use. Ill be using optionshouse to practice.

 

[redtag12]

Hay everyone I just started trying to learn how to trade stocks and my main goal is to have a good income off of it. I have recorded classes that i got that was 6000$ from "Rich Dad Education".(A friend bought them for me) I'm here mainly looking for tips and hints to make sure I can do my best at trading. I know that there will be times that I make mistakes and lose money. BUT i figured if other people can get rich or well off from stocks then I could too. ^^ But yeah sorry for being a noob, just looking for advise to see what I should be checking and what stocks to stay away from so on so on. It would also be cool to here stories from experienced traders as well. :clap: I will have many questions so take it easy on me. Ps: My income is some what tight, looking for a change with that hopefully. I'm open to questions that I need to answer, so feel free to ask. OH! Also it would be helpful to get a stock trading websites that are free for now, something with alot of tools to use. Ill be using optionshouse to practice.

There are so many varibles here.Where to start.How much are you putting into your trading account?How much do you know about trading? I suspect not a lot.It,s a long journey and sorry to burst your bubble but you will be about 10,000 hours learning your trade.Options trading i dont think so you,ll be killed in short time unless your going to tell me you know what you are doing.Futures maybe.Forex ok.All hard to learn,however it,s simple sell when going down and buy when going up Simples (Not).You have a wonderful journey in front of you.1 tip learn money management first and stick to it, ignore this at your peril.Good luck Mike.Oh by the way get rich lol you will be lucky to hang on to your capital.

 

[Overpowered trader]

Right now i dont want to put any money into my account right now. But i guess i need to do step by step. My main priority right now is to practice trading with virtual money and try to get the feel of it first. Practice makes perfect i assume. ^^ But yeah ty for the reply. Do you know any good websites for virtual trading? something with alot of tools that can help me make the trade i want to make. Ill most likely be using optionshouse to finish up the trade. Unless you have better info for me.:cheesy:

 

[redtag12]

Right now i dont want to put any money into my account right now. But i guess i need to do step by step. My main priority right now is to practice trading with virtual money and try to get the feel of it first. Practice makes perfect i assume. ^^ But yeah ty for the reply. Do you know any good websites for virtual trading? something with alot of tools that can help me make the trade i want to make. Ill most likely be using optionshouse to finish up the trade. Unless you have better info for me.:cheesy:

Yes of course i have better options wether its for you or not i cant tell lol.However for what it s worth here is my advice.1YOU GOT IT RIGHT, demo,s first to build up a trading strategy and to practice your trading for this starting at the begining take 6 months minimum.Your also working on your Trading plan and taking i hope the trouble to work on your Money Management all these are dynamic and will change as you as a trader change and become more experianced .Look at Supply and Demand, look at Price Action.And so it goes on,i hope by now you are begining to realise what you are taking on.Anyway any goodForex Broker in the USA will be regulated make sure they are and ask if you need too.The same applies to any UK broker,most will have a Demo account two here i use and both are regulated are Hirose UK (Japan) Alpari Uk they are in the USA as well.I have had no issues with either Broker and belive me you do not need Broker issues trading is hard enough without that going on.Go with a bucket shop at your peril(non regulated)Good luck any more questions please ask people here wll help you.Regards Mike...

 

[timsk]

. . . Do you know any good websites for virtual trading? something with alot of tools that can help me make the trade i want to make. Ill most likely be using optionshouse to finish up the trade. Unless you have better info for me.:cheesy:

Hi Overpowered trader,
Welcome to T2W.

Almost all brokerages will provide you with a paper trading facility, if only to enable you as a (prospective) customer to get used to their platform and tools. However, if you're new to trading, IMO you would do well to learn as much as you can about trading first and work out the type and style of trader you want to be. This will make the task of finding a suitable broker much easier. Many experienced traders will advise that options are sophisticated products suitable for experienced traders only; i.e. they are not really suitable for newbies just starting out.

Trading is an exceptionally difficult skill to acquire. Consequently, for most newbies, it pays them to keep everything as simple as possible and to acquire skills and knowledge on a step by step basis. redtag12 is quite right to confirm that demo trading is the best place to start. However, to stand any chance of success, you need to have done a lot of research and have formed specific views about how the markets function and how you can extract a profit from them. When you first joined T2W, you were sent a welcome e-mail with a number of links designed to help you embark on your trading journey in a logical and structured way. I recommend you read them and, in the fullness of time, start demo trading - but probably not options.
Tim.

 

[Overpowered trader]

Sorry for the late reply, I appreciate the reply's, and I'm assuming that I'm going to be a swing trader and once I get familiar with that then in the future start options but that isn't anytime soon assuming. Ill check out the email and see where it takes me. ^^ You all been helpful. OH! One more question do you guys know any books of some sort that can help get me more familiar with stocks? Or how the market works? Oh any people that I should be reading about online or anything that would benefit me to being a better trader would help. Thank you ^^ Sorry for the all the questions and what not just want to make sure that I'm set for what I need.

 

[redtag12]

Sorry for the late reply, I appreciate the reply's, and I'm assuming that I'm going to be a swing trader and once I get familiar with that then in the future start options but that isn't anytime soon assuming. Ill check out the email and see where it takes me. ^^ You all been helpful. OH! One more question do you guys know any books of some sort that can help get me more familiar with stocks? Or how the market works? Oh any people that I should be reading about online or anything that would benefit me to being a better trader would help. Thank you ^^ Sorry for the all the questions and what not just want to make sure that I'm set for what I need.

Rather than books(and i have never read one)why not take a trading course.But before you do that do what the mediator Tim says.I mean you do need to know what you want to trade and then find a course that deals with that and do not pay for it there are many courses online and are free.My reccommendation is go to babypips.Mike

 

[timsk]

. . . One more question do you guys know any books of some sort that can help get me more familiar with stocks? Or how the market works? Oh any people that I should be reading about online or anything that would benefit me to being a better trader would help.

Hi Overpowered trader,
Check out the Trading FAQs - this one covers your question about books: Which Books should a Beginner Read? If you're wanting to swing trade stocks, then Marc Rivalland's book (listed under 'Techniques & Strategies' in post #2) would be my recommendation.

I don't agree with redtag12's suggestion of going to Babypips for their course as it's heavily biased towards forex. It's in their interest - and that of their advertisers - to promote forex and to get as many newbies trading it. In this regard, they do a good job. However, there are at least as many reasons not to trade forex as there are reasons to trade it (that Babypips won't tell you). They don't provide a rounded - general introduction to trading - that you'll get here on T2W. Although some of what they cover will be relevant to you as a prospective equities trader - much of it won't be. For these reasons, my advice is to stay here for the time being and follow the links in the welcome e-mail.

I do agree with redtag12 in that if you do decide to undertake a course of some kind - make sure it's free. IMO, the only kind of course or training worth paying for is one that offers proprietary content that you won't find for free on here or elsewhere on the net. Until you have a good grasp of the basics of trading, you won't be in a position to judge whether the course vendor is the real deal or a snake oil salesman playing you for a fool. If you do go down this road, be sure to read these two FAQs first:
Can You Recommend a Mentor, Coach or Trading Course?
How Can I Distinguish Between Scams and Reputable Vendors?
Tim.

 

[Overpowered trader]

Thank you thank you thank you. ^^ you guys been helpful alot. ill check that out.

 

[neal_romero]

Im new in trade, help me if some knows.
shares some company do not move for a week, although a week ago came the news that was supposed to pick them up.
it that means company bad, or something?
who knows?
thx for answer"