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New in to the world of trading... So i am looking for some advices.

post #1 of 8
7/4/12 at 3:08am
Thread Starter 

Hello everybody. HAPPY 4th of July. 

 

Something about me before i shoot some questions - 

 

My name is Deyan and I am 26 years old. I consider my self a beginner in the world of trading. Currently i am debt free, with emergency fund and ROTH IRAs for me and my wife in place, maxed out for 2011 and 2012 (Fidelity funds). Starting capital for investing account between $5K-$10K depends how comfortable i feel and my goal is to have it open and start trading in 3-6 months. Recently started learning Thinkorswim and love the system. Swing trading and may be day trading is what i am looking as of right now. 

 

Enough about me... 

 

I am looking for you experienced traders to shoot some advices: 

 

1.) What is the best way to learn - should i read a lot, should i sign for work shops and seminars or may be something else. 

 

2.) Best books for beginner investors: (goal is to read at least 1-2 a month)

 

3.) Some simple strategies will help too. 

 

4.) Good newsletters and sites to sign up in for stock picks that i can evaluate after that. 

 

You don't have to answer all my questions, you don't have to answer any of them, any advice will help me and will be appreciated. 

 

If there are cool people willing to have some email exchange and chat about stocks and evaluating companies here is my contact info: Email: dgergov******

 

and if you by chance are from Sacramento California then lets meet for a coffee. 

 

Thank You and looking forward in to my and all of ours financial freedom. Good luck to you all. 

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post #2 of 8
7/4/12 at 12:29pm

Hi Deyan

 

Firstly, never put your email on the internet unless you really want 5000 spams about viagra. I removed your email address from your posting above.

 

Secondly, to get started, click the "wikis" link at the top of the page, that will take you through some important tutorials and will bring you up to speed!

 

Welcome to HSM thumbup.gif

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post #3 of 8
7/4/12 at 1:26pm
Quote:
Originally Posted by deyangergov View Post
 

 

Hi dey,

   Loads of information here on HSM although we have never met allow me to save you thousands of dollars.

 

Don't do anything ! There you go just saved you loads of money.

 

No seriously most people lose at this so don't rush into buying any stocks until you have an idea of what your doing.

 

Stay away from penny stocks they are very volatile.

 

Read : Reminiscences of a Stock Operator, getting back to even by Jim Cramer and The How to Make Money in Stocks Complete Investing System (for a start)

 

Use the edukashonal *joke* videos here they are very good.

 

Beware any emails you may get *great investing opportunity etc etc* these people bought the shares at a low so why are they telling you? yep please buy them so we can sell them to you. (Penny stock pumpers are big on this promotional stuff)

 

You are not alone: you have stumbled upon a very friendly site, pumpers and penny stock pushers are dealt with swiftly and fairly by admin (unless Rocksexton finds them first in which case they are abused and crushed ruthlessly) you will be helped but you must first try to help yourself so try to answer your own questions first before posting. Use the threads and do searches chances are someone has already answered the question.

 

Did I mention to stay away from penny stocks ?  

 

Don't be greedy never ever be fully invested always have some cash reserves.

 

Everybody is right otherwise there is no market: you can't buy a particular stock you like as everyone knows its going to go up and won't sell it, you can't sell your stock as everyone knows it going to go down and won't buy it -  we know this never happens you just have to be more right more than the other guy/girl....

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post #4 of 8
7/4/12 at 7:15pm
Thread Starter 

Thank you very much for the input. 

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post #5 of 8
7/4/12 at 7:22pm
Thread Starter 

 

Don't be greedy never ever be fully invested always have some cash reserves.

 

 

Thank You so much for the reply. The reason why i am 26 and just starting to look in to opening an account is just because of this reason. I have my financial situation stable, even if the worst happens right this minute i can survive for 3-5 years without problem. So now my future or a would say my retirement is my next goal. I want to build a good system or at least a way of making profit on Up and Down market this way i will feel more secure. I've been reading and mostly, recently started paper trading. You are right and i wont put a time frame to push me when to start. 

 

Thank You for the books advises i will look in to them immediately. 

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post #6 of 8
7/6/12 at 7:05pm

Learn to accept, manage, and minimize losses. The rest comes down to a bit of luck.

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post #7 of 8
7/17/12 at 11:13pm

I recommend lots of practice before putting your money in play, but you need to practice some place realistic and preferably public.  Why public?  The public exposure and emotional stress you'll feel of being publicly embarrassed by bad trades is a decent analog to the emotional stress you'll feel once you put your actual money in play.  Personally, I think learning to manage your emotions to make cold, rational decisions when you're in a losing position is a key to success and that won't come without some practice and some wounds.

 

Also, trading a system will also help you manage your emotions as it will give you an analytical answer to offset your natural emotion to "hope" your bad trades turn around.

 

There are a lot of trading simulations and trading systems out there to try.  If you don't know where to start, I suggest you try capitalhive.com.  It has both a virtual trading app that you can trade either publicly or privately and it also has a trade signal generator called honeycomb that analyzes any US listed stock you are interested in and analyzes all the US listed stock each day to daily recommendations.  I've been using honeycomb and am impressed with it's reliability and ease of use.

 

Hope this helps you get started.  Good luck making some money.
 

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post #8 of 8
7/27/12 at 1:02am

hello deyan

welcome to this forum and best of luck for your career in trading. i am also the new one in this field. i would like to interact with you to exchange knowledge and information. i have found something good to share http://seekingalpha.com/article/751331-premium-brand-image-high-international-sales-make-tempur-pedic-a-buy
 

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HotStockMarket › Forums › Investing Forum › How To Invest - Investing Strategies and Theory › New in to the world of trading... So i am looking for some advices.