Charlton
Experienced member
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Kiyakiya said:
Here are some questions for starters:
(a) As Millsy500 said - are there any that particularly interest you e.g. market sectors where the type of companies involved are ones familar to you
(b) What is your trading timeframe - for how long do you anticipate holding the shares ? minutes, days, weeks
(c) If the answer to (b) is that you want to hold them for the very short-term then when are you able to trade during the day ? Any time ? Only after normal working hours ? This will determine whether you look at, for example, UK or US markets
(d) Take a look at some of the brokers sites and examine the commissions and fees. They differ for UK and US
(e) Try playing around with stock filters. There are various free sites e.g. ADVFN.com that have stock filters based on various criteria you can enter to obtain lists of shares. See how these work and take a look at stock graphs
(f) Go to the top level of this forum "First steps" and take a look at some of the "sticky" subjects or look at the knowledge lab and resources on this site. There are a number of documents that guide you into developing a strategy.
Hopefully things were start to clarify as you delve further into it.
Finally remember that the solution does not have to be the perfect solution. It just needs to be A solution that you feel comfortable with, providing consistency and more gains than losses.
Charlton
Mr. Charts
Legendary member
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Identify 3 or 4 markets that you have a interest in potentially trading.
Review and understand the various styles of trading and how they relate to your personality.
Interview as many individuals as you can to gain insight into what to expect and learn from their experiences.
Reading books, articles, and other resources are good, but they don't come close to hands-on experience. Once you decide what and when you will trade, develop a paper trading strategy and test your ideas to see how discipline, structured and organized you are at following your own rules.
To accelerate your learning, find some experienced traders, mentors, trading rooms, chat rooms, etc.. that can guide you until you find what works for you. Focus on learning to trade, and success will follow.
Review and understand the various styles of trading and how they relate to your personality.
Interview as many individuals as you can to gain insight into what to expect and learn from their experiences.
Reading books, articles, and other resources are good, but they don't come close to hands-on experience. Once you decide what and when you will trade, develop a paper trading strategy and test your ideas to see how discipline, structured and organized you are at following your own rules.
To accelerate your learning, find some experienced traders, mentors, trading rooms, chat rooms, etc.. that can guide you until you find what works for you. Focus on learning to trade, and success will follow.
