PDA

View Full Version : How to start Trading?



alufejuli
10-18-2015,
Good Morning im a 24 year old just graduted student, making about 80k a year but with alot of bedt.. I think it would take probably 1 - 1 1/2 years to pay it off, but i know after im done i want to start investing so i want to use that debt time to lear how to best invest my money, by reading here I see that you guys are recommending using a real time simulator at the beginning for many months before using real money, and i guess i can do that, but even then i wouldnt know where to spend my money.. So the reason for this post is to get study material, like any sites, training, books, videos that you guys recommend for a new person to start looking/thinking/understanding trading

Thanks

akehuhar
10-18-2015,
1. Search this site for "books", and you'll get many threads where that quetion has been asked, and answered.

2. You can find videos on YouTube, of course, but they might not all be legit.

3. Investopedia is a very good educational site with a dictionary of investing terms and lots of articles and explanations.

4. Two good sites for learning how to read charts and use indicators are Finviz and FreeStockCharts.

5. Open a ThinkOrSwim account (run by T.D. Ameritrade). Great simulator there, and some educational stuff.

6. eTrade has some good educational articles and videos, and you don't have to have an account to access some of them.

7. Investools (run by T.D. Ameritrade) is another good educational place.

8. If you're interested in Options, two good sites are Dough, and TastyTrade.

9. Ignore any ad or popup touting "hot" penny stock tips, promises of showing you how to make tons of money in a very short time period, how to $50 into $1000 overnight, etc. There is not a magical formula or a shortcut to riches. The stock market is a lot of hard work, and most people who try it actually fail and lose their money very quickly because they didn't educate themselves enough on how the market works.

aboni
10-18-2015,
Thanks for the reply, so i just saw this response, and yesterday while doing research saw someone recommending TastyTrade and i stared watching they How to Start Videos, like i said i just stared yesterday and watched many of them, i opened a paper trade account with Ameritrade and downloaded ThinkOrSwim software, and stared learning about options (like in the videos), which like a said are very good but i still have few gaps, like i dont know when is a good time for Puts or Calls, when is a good time to close the deal, or even when i should do a vertical buy instead of regular..

So one of the main concerns i have is that the guy from tastytrade, keeps saying that old methods dont work on the stock market this days, that buying a stock and waiting is not that great that options is where the new generations should be facing.. Is this true? if it is that one of the problems i have with books, when i search for books i get very old books like "The Intelligent Investor" which many people suggest ready..

AnthonyMl
10-19-2015,
So ill probably start trading a bit sooner than what i mentioned on my initial post, because of my low money availability i guess i should focus 100% on options? i can probably open account with around $1000

ataocarujr
10-20-2015,
You will need 2500 to maintain a margin account required for option strategies. Best to paper trade until you can beg borrow or steal another 1500.