New Trader On The Block

[djphaze22]

My name is Adam, I am 23 years old and I just started my path toward a finance degree. I have no prior degree, but I really want to become a trader. I have read books on trading and I understand my goals of protecting my principal and I wish to learn how to trade better. I am trying to include myself in as many trading forums and practice sites as I can to learn more.

I do not have any capital to trade yet, I have a Scottrade account which has my savings of about $4k right now, and I am trying to build and save more money. I also have accounts on Investopedia.com and WallStreetSurvivor.com. When I do raise enough capital to start trading I want to be ready. Though, it is hard on a bartender salary.

If anyone has any advice or information that I could use I would greatly appreciate it. I also would like to meet traders with experience to learn more and more information as I can. The stock market is brutal territory, I understand, but I feel like I will be a great trader. I have always been good with math, memory, and numbers, and I am a very very quick learner.

Hope everyone is having a good year so far (I know the market has been volatile lately). Thank you for taking the time to read my message.

-Adam E
Better Manage Money - Money Management Tips for Young Adults

 

[Splitlink]

My name is Adam, I am 23 years old and I just started my path toward a finance degree. I have no prior degree, but I really want to become a trader. I have read books on trading and I understand my goals of protecting my principal and I wish to learn how to trade better. I am trying to include myself in as many trading forums and practice sites as I can to learn more.

I do not have any capital to trade yet, I have a Scottrade account which has my savings of about $4k right now, and I am trying to build and save more money. I also have accounts on Investopedia.com and WallStreetSurvivor.com. When I do raise enough capital to start trading I want to be ready. Though, it is hard on a bartender salary.

If anyone has any advice or information that I could use I would greatly appreciate it. I also would like to meet traders with experience to learn more and more information as I can. The stock market is brutal territory, I understand, but I feel like I will be a great trader. I have always been good with math, memory, and numbers, and I am a very very quick learner.

Hope everyone is having a good year so far (I know the market has been volatile lately). Thank you for taking the time to read my message.

-Adam E
Better Manage Money - Money Management Tips for Young Adults

At your age, knowing what I know now, I would follow Buffet, who is not a trader and started at 19. You are studying finance, which gives you a head start on most of us.

Of course, if you love trading, as most of us do, then you are lost!

If you do follow my advice---which I doubt--- start with "The Intelligent Investor" by B.Graham.

Regards Split

 

[djphaze22]

Dear Split

I just received my copy of The Intelligent Investor by Ben Graham just like you advised me. I intend to start reading it soon. I have also read publications by Jim Cramer and I have been investing for almost 2 years now. Thank you for your advice, investing does seem like it will be a good option for me, and I have developed a smart savings plan to keep adding money into my Scottrade account.

 

[Splitlink]

I just received my copy of The Intelligent Investor by Ben Graham just like you advised me. I intend to start reading it soon. I have also read publications by Jim Cramer and I have been investing for almost 2 years now. Thank you for your advice, investing does seem like it will be a good option for me, and I have developed a smart savings plan to keep adding money into my Scottrade account.

A coincidence that you should answer just now. My family gave me a new copy of that last week, for my birthday. After each of his chapters there is a commentary by Jason Zweig. I don't know who he is, but he brings an update to Graham's book which is very interesting. This book will, always, be a must for an investor.

If you are interested in Buffet's philosophy on investment, you might like to read, also, "The Warren Buffet Way" by Robert G. Hagstrom. Publishers John Wiley & Sons. Probably, you will find it in a library, as well.

What is on your side is time. Make the most of it.

Good Luck

Split