Any advice for a young enthusiastic trader?

Tan3

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My names Reece and I'm 18.
I'm looking to get into trading and have saved up today for an insight into the company savi. It went well and I think this is the path for me.
Unfortunately I'm in a sticky situation because I'm extremely passionate and I am willing work any hours and do anything but my school life isn't too great.
I used to play table tennis for great Britain and that affected my studies a lot so I won't be able to go university.
The savi course is around £5,000 and I'm really interested. I pay for everything out of my own money as parents aren't wealthy so I really want to know what courses for me are worth the money.
Also of anyone has any advice on how to get into trading it would help a lot.

Thanks
Reece.
 
The answer is none of them. Keep your money in your pocket. Buy some books, read online and a lot of trial and error. Blowing £5k on a course is just wasteful.
 
Five grand on a course is a huge amount of money.
Start with learning the basics of technical analysis. Learn to spot a trend, I've written a couple of times on here how to do that, so won't bore everything with the details again.
Open a demo account, start with currencies and just watch the charts.
There are no short cuts, and their no 'magic systems'
Hard work will be rewarded, as will patience.
Be realistic with your goals and if you stick with it you'll get there.
Trading is not difficult, being good at it however is much harder.

Best of luck!
 
All courses / vendors / trainers etc are a complete waste of time. Have a look at the Mike Baghdady thread on here for an example of a very well-known one.
 
Hey Reece, good to see you are interested in this as a career. It can be extremely rewarding but it is very difficult and takes many years to learn. I bet you worked really hard to save up that money and don't want it wasted. The fact of the matter is that nobody is going to teach you how to trade. Not for any amount of money. They will sit you down and talk to you about all kinds of things that sound good but in reality are worthless. All they want is your money. The only real way to get into this business is to have enough of your own money to live while you learn on your own or to go to a top university, get top marks and get hired on with a professional firm. Realistically if you are not going the university route you will need a minimum of 35000GBP and up to twice that amount to start. You might get lucky in the short term with less but you probably will not. Luck will not hold you out for a career either. Don't forget you could also lose all that money and more.

All the places offering to teach you how to trade make their money from teaching people how to trade. The instructors probably don't even trade themselves. To get started learning you should go to CME Group - Futures & Options Trading for Risk Management and read everything in their education section. For goodness sake if you are serious about this do not read anything on this or any other internet forum. They are all filled with worthless garbage. Don't even believe what I am telling you.
 
My names Reece and I'm 18.
I'm looking to get into trading and have saved up today for an insight into the company savi. It went well and I think this is the path for me.
Unfortunately I'm in a sticky situation because I'm extremely passionate and I am willing work any hours and do anything but my school life isn't too great.
I used to play table tennis for great Britain and that affected my studies a lot so I won't be able to go university.
The savi course is around £5,000 and I'm really interested. I pay for everything out of my own money as parents aren't wealthy so I really want to know what courses for me are worth the money.
Also of anyone has any advice on how to get into trading it would help a lot.

Thanks
Reece.

Reece,

Don't get involved with any of these companies, all they are interested in is taking your money, none of them will make you successful. You have to understand that these companies make money from selling courses, they are not trading companies.

To be more specific Savi have told a lot of lies in the past, they even used fake photos to pretend they had a charitable foundation. They were also almost struck off by Companies House for not filing accounts and then tried to lie about it. They also pretended to have a wealth management company that their trainees could join, it was all nonsense.

Whilst these facts relate to Savi I would have to say that none of the competitors are any better when it comes to delivering results, they may tell fewer marketing lies but at the end of the day it is still money wasted.
 
Surely someone's going to reccommend the secret Nazi box. Its within your budget, but hurry, stocks are limited.
 
Surely someone's going to reccommend the secret Nazi box. Its within your budget, but hurry, stocks are limited.

Shhhhh! It's supposed to be a secret.

What if THE BIG BOYS in the city knew that you were giving the game away? The knowledge that you could make up to £5,000 a week (or even more!!!) with just 20 minutes work a day...etc etc etc continued ad nauseam ad infinitum.
 
Like everyone else has said, don't waste your money on any crap like courses, training,
systems or any of the other various cons designed solely to part you from your money.

In all honesty you would be better off trying to rekindle your education,
even if you have to go back and re-take a year or two.
That 5k would be better used towards tuition fees imo.
5k isn't enough to really give yourself a decent chance trading your own account.
Oh and print off EulerFourier's post on page 1 of this thread and stick it above your PC.
Its probably the best advice you will ever see on a trading forum.
 
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As Pboyles has kindly linked to my blog I should at least give you my personal thoughts.

I have spent a good chunk of money in the past looking for a way to trade that suits me and yes I continue to spend money. However, I have been to Uni, I have my own business and I have a certain amount of money to use/lose/waste/invest/bet/retrain/spend on mentoring and any other way you can think of to spend money in this particular industry.

My only advice is to meet someone face to face. This is really easy to do and there are many examples of people who are willing to meet you. If you go through a web site initially you'll always have an element of doubt. If you meet them personally you can diminsh a lot of doubt very quickly.

I chose LST because they are a legit company. There are many other legitimate Trading companies out there too. You just need to pound the streets and find them.

Or you need to get an introduction through a friend/chance meeting with a trader. My sister has friends at Marex Spectron. I had never heard of them but she happened to mention to a friend who she new worked in the city that I had an interest in trading. Hey presto he's a contact that I now have on LinkedIn and has already offered me an interview should I ever want to be a full time trader. Not that I would be much use to them yet (n). Who knows where that gets me in the future but a chance meeting or an introduction can get you on a path to a mentor/trading career. You just need to put yourself in a place where you'll meet these people. I don't hold much hope of actually meeting anyone from this web site face to face. If I did I very much doubt they would be a successful trader.

A mentor can show you a winning strategy in under 60 mins. Doesn't mean you'll understand it, be able to trade it, stick to the rules or never change the rules.

A guy on the internet you've never met can show you a chart, talk you through exactly the same strategy but again, you may not fully understand, be able to trade it, stick to the rules or never change the rules.

I've chosen to go with a mentor that I know I can sit down with should I need to. As I feel it's important to be able to discuss how I trade, my reasons for breaking the rules, my emotions about how the trades are progressing. I like the fact that I can question the validity of a trade, maybe how I should be adapting the trading strategy to my personality. I can discuss position sizes and pip costs.
It's all stuff that reading books didn't work for me. You may have more success with a book.

I wouldn't take anything on this site as gosspel as 99% of the people on here are anonymous to you and will never show you their setups, trading logs, strategies, where they learnt, who they trade for. They are strangers spouting a lot of words that actually have no relevance most of the time and are of little help.

You should definitely look up as many trading companies names as you can and then see where they are in relation to you geographically. Then you should search through the internet looking for peoples views on them. Then you should try and meet someone from a company that you like the sound of.

They may have a graduate training scheme, they may allow you to start as a junior, they may allow you to trade your own money. You wont know until you go and meet them.

Regarding my personal score card, I found it difficult to stick to the rules, I over leveraged and I chased losses. So advice to myself these last couple of months is Stick to the rules, keep the leverage to a minimum.

I have always had a budget set aside to learn a new life skill. I am still no where near spending my budget or being able to say I have a new life skill. When I am making more money out of trading than the day job, then I'll go full time trading. Simples. :)

Picking an entry is the easy bit. Leaning how to keep hold of your money is the real skill.
 
That is horrendously bad advice, you paid what, 3.5k? You were given a couple of grand in a spread bet account and promptly lost a quarter of it whilst simultaneously losing 50% of your personal account. This is a prime example of why he shouldn't get involved with any of these companies, he will lose his money.
 
you're the last person I'd take advice from.
You're a fraud and I doubt you're any better at trading than me
:cheesy::cheesy::cheesy::cheesy::cheesy::cheesy::cheesy:
 
you're the last person I'd take advice from.
You're a fraud and I doubt you're any better at trading than me
:cheesy::cheesy::cheesy::cheesy::cheesy::cheesy::cheesy:

You'd be 5k better off if you had listened. But anyhow, carry on.
 
This business is just not for 18 year olds

go get yourself a job first, preferably with a provincial stockbroker

if you are any good at that, you will know
 
It's good to learn something useful, however the amount of £5,000 seems too big for a single course.
I think you are diligent and smart, so take you time to find better way to learn what you want.
forex trading is difficult, don't expect too high on it before you get other opportunities.
 
I guess he's disappeared....Maybe he didn't want to believe us and he's sitting in some 5000GBP classroom learning about moving averages now.....

.....sigh.......
 
First bit of advice... lose the misplaced enthusiasm and substitute it for determination - you have a lot of hard work ahead of you.

Second bit... go back to school and go to uni to study something quantitative or in programming.

Third bit... travel a bit and talk to a lot of people who do different things. Make sure trading is for you and you're not just dazzled by the pop star lifestyle that you think trading will bring you. You might find you actually want to spend your time doing something interesting instead.

Final bit of advice... Get a part time job through uni, save all your student loans up, swerve all these stupid learn-to-trade-quick schemes out there and after you've qualified, go to an arcade with some money in your hand so they take you seriously.

No wait - I have one more bit of advice... log off trade2win.com and never come back. Try student2trader instead.
 
Thanks alot guys, To be honest when I was at savi I noticed some dodgy things.
He spoke of how his friend spent 200k on champaigne when to be honest im quite certain he doesnt know the guy on a personal level. Also they seemed like they were selling the place to me not actually learning. Another thing is that they made it out as if they recieve secret information 3 minutes before everyone else... Which I dont really think is true because if that was true why dont they just earn millions more and not bother with 5k from students.

I understand some of you are saying go to university but I dont have the GCSE's to take the A levels required for it. I think I am going to have to use my conversational skills to get me somewhere this time, maybe telling them I'm half chinese might make them like me more lol

Does anyone have any websites or books you reckon I should look into?
 
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