chrismakk69 Posted July 27 Report Share Posted July 27 Is anyone here a day trader? Any advice on how to learn and get into it..I've got a decent financial background, but I am looking for some solid advice from anyone whos into it...Any books you would recommend? Quote Link to comment Share on other sites More sharing options...
phatman Posted July 27 Report Share Posted July 27 *cue barstar's entrance music* Quote Link to comment Share on other sites More sharing options...
iamme Posted July 27 Report Share Posted July 27 *cue barstar's entrance music* for some reason i keep on hearing the Indian Jones theme when you post this Quote Link to comment Share on other sites More sharing options...
murrrr Posted July 27 Report Share Posted July 27 im into trading myself but which exactly r u trying to get into? options, stocks??Is anyone here a day trader? Any advice on how to learn and get into it..I've got a decent financial background, but I am looking for some solid advice from anyone whos into it...Any books you would recommend? chrismakk69 1 Quote Link to comment Share on other sites More sharing options...
chrismakk69 Posted July 27 Author Report Share Posted July 27 stocks.. Quote Link to comment Share on other sites More sharing options...
murrrr Posted July 27 Report Share Posted July 27 eek i would step away from those, too damn expensive and more chances of losing $$im into options, i have been reading about it here n there but really havent traded yet.....i should get started on that soon n do some paper trades Quote Link to comment Share on other sites More sharing options...
deepspell Posted July 27 Report Share Posted July 27 for some reason i keep on hearing the Indian Jones theme when you post this i always think of "staying alive" . fits him perfectly Quote Link to comment Share on other sites More sharing options...
murrrr Posted July 27 Report Share Posted July 27 haha i agree!i always think of "staying alive" . fits him perfectly Quote Link to comment Share on other sites More sharing options...
iamme Posted July 27 Report Share Posted July 27 eek i would step away from those, too damn expensive and more chances of losing $$im into options, i have been reading about it here n there but really havent traded yet.....i should get started on that soon n do some paper trades def do a mock portfolio for a while. very easy to get f*cked in the ass w/ options. and i dont think they are the greatest thing for beginners/novices to screw around with. Quote Link to comment Share on other sites More sharing options...
iamme Posted July 27 Report Share Posted July 27 i always think of "staying alive" . fits him perfectly hmmm, definately a worthy entrance song Quote Link to comment Share on other sites More sharing options...
murrrr Posted July 27 Report Share Posted July 27 they are diff strategies u can go do w/ options and ur not obligated to do anything, theres no contract like in stocks......options arent as risky as people say they are Quote Link to comment Share on other sites More sharing options...
iamme Posted July 27 Report Share Posted July 27 they are diff strategies u can go do w/ options and ur not obligated to do anything, theres no contract like in stocks......options arent as risky as people say they are i know.there's less risk in that your maximum risk the option cost...but still, easy to lose money this way. whatever, youre $$$. have fun... Quote Link to comment Share on other sites More sharing options...
murrrr Posted July 27 Report Share Posted July 27 bottom line is that u can lose $$ either way since no one knows weather the market is going down or up.......stocks r just too damn expensive n too many strings attched Quote Link to comment Share on other sites More sharing options...
iamme Posted July 27 Report Share Posted July 27 depends what stock... Quote Link to comment Share on other sites More sharing options...
murrrr Posted July 27 Report Share Posted July 27 depends on wha option n strategies ur using Quote Link to comment Share on other sites More sharing options...
kfitz73 Posted July 27 Report Share Posted July 27 Is anyone here a day trader? Any advice on how to learn and get into it..I've got a decent financial background, but I am looking for some solid advice from anyone whos into it...Any books you would recommend?Are you looking into it as a career?? Would you want to trade your capital or the firms capital?? Quote Link to comment Share on other sites More sharing options...
chrismakk69 Posted July 27 Author Report Share Posted July 27 Possibly as a career...But I don't want to work for a firm...I've got a shitload of money saved and I've been looking into doing this on my own for quite a while from my home office... Quote Link to comment Share on other sites More sharing options...
murrrr Posted July 27 Report Share Posted July 27 i have a q.......is it true that its best to trade when the market is closed and if so why is that? Quote Link to comment Share on other sites More sharing options...
kfitz73 Posted July 27 Report Share Posted July 27 Possibly as a career...But I don't want to work for a firm...I've got a shitload of money saved and I've been looking into doing this on my own for quite a while from my home office...I know of a few books that should be good. I don't know the name of them off the top of my head but I'll pm you when I get home from work... Quote Link to comment Share on other sites More sharing options...
kfitz73 Posted July 27 Report Share Posted July 27 Do you have any licenses?? Quote Link to comment Share on other sites More sharing options...
chrismakk69 Posted July 27 Author Report Share Posted July 27 Nope...Just my Bachelors..double major in comp sci and business admin.. Quote Link to comment Share on other sites More sharing options...
kahn Posted July 27 Report Share Posted July 27 Is anyone here a day trader? Any advice on how to learn and get into it..I've got a decent financial background, but I am looking for some solid advice from anyone whos into it...Any books you would recommend?throw away the books and learn to control your emotions..........that's 90% of trading..... Quote Link to comment Share on other sites More sharing options...
kfitz73 Posted July 27 Report Share Posted July 27 throw away the books and learn to control your emotions..........that's 90% of trading.....This is correct...If you're the type who gets angry easily or makes rash decisions when they are angry or under duress then you might want to try something else. Quote Link to comment Share on other sites More sharing options...
chrismakk69 Posted July 27 Author Report Share Posted July 27 Nah, I'm pretty controlling when it comes to that.....I'm a compulsive gambler, I've lost alot of money before, but never my temper... Quote Link to comment Share on other sites More sharing options...
dgmodel Posted July 27 Report Share Posted July 27 Is anyone here a day trader? Any advice on how to learn and get into it..I've got a decent financial background, but I am looking for some solid advice from anyone whos into it...Any books you would recommend?i wasnt a day-trader but i was/am an equity trader... booksschmooks... most of them are out to take your money (like many daytrading firms), any system that is profitable is not found in books or sold on television... trading strategies take years and lots of losses to formulate and once tweaked to a profitable state are not shared with anyone... but if youre into reading and dont mind throwing your money out the window marty schwartz is prolly the only guy worth reading about... IMO... a few books that are a mandatory read but have nothing to do with teaching are random walk down wallstreet, liars poker, monkey business, fountain head... sidenote most daytrading firms are scams, what places are you looking at or are you going to do etrade/ameritrade route~!? eek i would step away from those, too damn expensive and more chances of losing $$im into options, i have been reading about it here n there but really havent traded yet.....i should get started on that soon n do some paper trades youve got that backwards... 90% of all options expire worthless, and its pretty fuckin hard to be always in that 10%... papertrading is pointless academic activity... you take risks you normally wouldnt, and youre not effected by losses or gains so your psychology is never involved... papertrading is good for a few days to get to learn a system or learn chart reading but i wouldnt put too much emphasis on it... oh and the main thing is since there ISNT any risk papertrading ther isnt ANY reward... Are you looking into it as a career?? Would you want to trade your capital or the firms capital??this makes a lot of differences as well... what is your objective~!?throw away the books and learn to control your emotions..........that's 90% of trading.....i want to shake your hand right now... listen to this man. Quote Link to comment Share on other sites More sharing options...
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