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Thread: How do I's?

  1. Default How do I's?

    Hello every one and thank you for reading.

    At this point I am following other peoples suggestion on what stocks to follow and this helps but, how do I find my own.? Is it as simple as thinking of stuff I am interested in, such as Niki or coke or mcds. ?

    I am looking to learn to trade. I have made some money on a virtual account as a investor, but that is to slow for me. So I went live!! this was fun but still not enough. I have a good level of patients as far as swing trading goes. But Truthfully I have no idea where to start. I also made ok mostly break even adventure's

    I am looking for some one to help me with the how do I's, I am looking to do this on a part time basis's while I build up my account. And providing no zombie invasion. I would like to work my way up to full time swing trader. I have never used money I could not afford to loose. And other than falling for the penny stock rookie stuff I have made good decisions.

    I have read several peoples stuff on here and there is so much to process. How can I find a mentor and make it worth there time?

  2. #2
    AllenSak Guest

    Default

    Learning to trade or invest? If you wanna be like Warren then say hello to waiting a long time for profits, if at all. Also say hello to HUGE drawdowns.

    You did mention trying to swing trade--are you proficient in reading price charts yet? OHLC? Candlesticks? That sort?

    Wait let me rewind here.

    How much time do you have to dedicate in trading, exactly? You mention part time but how many days a week are you going to be able to be glued to the screen? For me I cannot be glued to the screen since I live in Sydney now--that means I'm asleep while Wall Street is trading but it works. If you haven't sensed yet, I'm asking because how much time you have and when you can trade will shape your style.

    What are your return objects? Have you thought about that?

    How small exactly is your account? I know it's personal but I have to ask because not being well capitalized could be detrimental to your success (because you're trying to grow it fast which is an eventual tendency for most new Wall Street gamers).

    I have many more questions but I think (and I feel gun shy peddling my book) if you read my cheap eBook you'll learn a lot and you'll probably be able to write your questions better; hence, people can help you out more.

  3. Default

    Kind of tired at the moment. Working third shift does take it's toll. I am attempting to rearrange my sleep pattern for swing trading. I am not in a big rush to make 100,000. That is just going to be my exiting amount, that I am looking to build up to.

    My account amounts have been different. but averaging 300.00 every couple weeks. I have done some good investing such as mmm, + 22.00 times 10, and mcds + 9.00 times 10. But to me they were easy And I was new so I had beginners luck on my side. I have blown 300.00 up several times trying to trade. So I am en route to saving 1,000. And trying to learn the basics.

    Currently I can add 100.00 every two weeks to my account , so it will be a couple months before I enter into anything. And I am hoping to use this time to become better at reading chart patterns.

    I have used bars and candle sticks. Sometimes I even think I can see a pattern forming. But then, what I think will happen, the opposite usually does. I know most of this is just educated gambling. And I know when some one wins that means some one does not.

    I have been doing this off and on since 2012, and I am ready to get past all the fakes and take it seriously. Personally Warren has to much money. That's why I will be happy with some thing in the field of 50,-100,000. Best thing is I have all the time in the world to get there.

  4. Default

    If your just looking for stuff to check out you can always do scans for volume increases, price extremes that kind of thing. You could check out Stocktwits....it's like Twitter. It's just a constant feed of opinionated, directional drivel but gives you an idea of what some people are going on about. It just takes some time to develop any level of market awareness. I've been going at this pretty hard for about a year now and this is still an area where I need much more expertise. But I have found that as I go the list of underlyings that I am willing to trade is getting smaller and smaller.

  5. #5
    Amarricquola Guest

    Default

    I'm going to be blunt here. 50k-100k can't even buy a nice house. Why is that your meager target? You're probably young and do have a lot of time, but that's all the more reason to have bigger goals. Everyone thinks they have a lot of time until they wake up one day and think 'holy shit' where did time go? and bam a year has gone by in blink of an eye, and the older you get, the busier you get with career and family the faster the years seem to go. So make big goals and plan out steps on how you can get there. Otherwise 10 years from now you'll still be blowing up $300 accounts wondering where you went wrong.

    If I were you, I'd save up 6 months emergency fund in case you get laid off or injured or whatever other emergency you can't think of right now. Then, Invest in your companies 401k if they have one. The pros know more than you do right now and its okay to admit that. Finally, study your ass off on the markets. From large cap investing, to options, to small cap momentum. Learn as much as you can while you're saving up. Once you get a safety net built up then you can decide which direction of self investing you want to go, but only after you have the knowledge. Gambling on penny stocks will just keep biting you in the ass especially since you are emotionally charged to buy them. Keep emotion in the bedroom, and gambling in Vegas. Trading is about risk management and profit strategies.

 

 

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