Welcome guest, is this your first visit? Click the "Create Account" button now to join.
Results 1 to 5 of 5

Thread: Where to start

  1. #1
    Annotationsjch Guest

    Default Where to start

    Hey guys, first post here so sorry if this is in the wrong place.
    I am from the poker world and as we know it sucks at the moment. I have some free time on my hands and would like to get into trading. I graduated college with a biochem degree so my business background is pretty weak. Im not trying to become a long term hot shot trader or anything, just interested in finding something new to venture into for the time being. Questions
    Any good books for beginners like me to read?
    What kind of money should I be looking to start with?
    What site is the best to start an account with since I dont really know any besides etrade?
    Any software that helps?
    Thanks for the replies

  2. #2
    Annotationspzs Guest

    Default

    You can start with very little money but may need to do it in the currency markets. Forex. But you can be interested in other sectors and still trade Forex. An example we have been sharing with people this week is trading crude oil, of course our favorite thing to do.

    If you are bearish on oil, and we are in a bearish market for oil right now, you can enter a short trade in oil by going long the USD/CAD. That's the U.S. Dollar against the Canadian currency. Canada's currency falls when crude oil prices fall. Make sense?

    Well, there's a start for you. Good luck!

  3. #3
    Annotationssxz Guest

    Default

    I would recommend that you read a couple books and get familiar with the different investing styles. Several books that I recommend are: The Intelligent Investor, The Alchemy of Finance, A Random Walk Down Wall St. and the Black Swan. Blogs and websites our great. We really like SeekingAlpha.

    No one can really determine how much money you should start off with. That's really up to you and your risk tolerance.

    Once you determine your goals and how you want to invest, you can easily start an account with a number of discount brokerages. I'm not familiar with ones in the states. But, if you're in Canada look at Questrade, Qtrade, ScotiaItrade. One of them will have something that you're looking for.

    Our site, Vuru, really helps get beginner investors up to speed. Also look at Google Finance and Yahoo Finance if you're comfortable with the charts and numbers.

  4. Default

    Ohhh I'm from the poker world as well. Played it pretty solid for years on Pokerstars and Full Tilt till Black Friday (to those who don't know, that's the poker worlds terminology for the day the Feds shut down all the major online poker sites). The cool part about poker was if you were really into like I was you learned all sorts of strategies and formulas for what hands to play, raise, fold, bet etc. You learned your odds of winning or splitting, equity for winning a pot and so on. So now I'm trying to apply the fun I had in learning to play the best poker and trying to be the best to my sense of adventure in the market.

    I like the articles I have read on SeekingAlpha as well.

  5. #5
    AnthonyItepe Guest

    Default

    Be sure you understand the difference between investing and trading. Investing is taking a long term approach to buying good companies with strong fundamental value. How fast is the company increasing earnings? How much debt do they have? How is the stock price relative to competitors? etc.

    Trading looks at the technical aspect of a stocks price action and uses that to predict future price action. Is the price above the 200 day moving average? Where is price support? Is the price trending up or down?

    With either approach, you have to understand your time frame. Are you investing for gains next year? Or are you trading for gains by Friday?

    John Bradford

 

 

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •