Career change assistance please?

diagram-p · Feb 9, 2008

Hi Guys,

I previously posted to ask about offshore brokers and have received some good advice...thanks! I am a newbie to the site and also to trading. (Well not entirely true) I have been working as a contract consultant for a number of IBs for the past seven years starting with a straight IT role and progressing into Business Analysis for Interest Rate Derivs and FX Spot and FWD desks. I have gained a reasonable understanding of the parts of the markets that I work for but this is just the tip of the ice burg. At least the more I learn the more I realise "I know nothing". I am now looking to trade some of my own money but want to learn how to trade properly before I lose my hard earned cash.

So! I would be really greatful if anyone could recommend a good book that I could read to get started. I have previously traded CFDs and lost quite a bit by not really knowing what I was doing. Any advice would be really appreciated.

I can see from the work that I do for the IBs that most of them are ramping up in the commodities arena and oing a lot of business in the rates world after the sub prime issues last August so I am interested in the metals and energy areas.

Apologies for the long post

theroguetrader · Feb 9, 2008

diagram-p said:
Hi Guys,

I previously posted to ask about offshore brokers and have received some good advice...thanks! I am a newbie to the site and also to trading. (Well not entirely true) I have been working as a contract consultant for a number of IBs for the past seven years starting with a straight IT role and progressing into Business Analysis for Interest Rate Derivs and FX Spot and FWD desks. I have gained a reasonable understanding of the parts of the markets that I work for but this is just the tip of the ice burg. At least the more I learn the more I realise "I know nothing". I am now looking to trade some of my own money but want to learn how to trade properly before I lose my hard earned cash.

So! I would be really greatful if anyone could recommend a good book that I could read to get started. I have previously traded CFDs and lost quite a bit by not really knowing what I was doing. Any advice would be really appreciated.

I can see from the work that I do for the IBs that most of them are ramping up in the commodities arena and oing a lot of business in the rates world after the sub prime issues last August so I am interested in the metals and energy areas.

Apologies for the long post

1) The basics of Dow Theory
2) the basics of candlestick charting
3) Reminisces of a Stock Operator

in no particular order.... !!

crude_lover · Feb 9, 2008

like said above read up on technical analysis and fundamentals as what drives the market etc
but being honest energy and metals in general arent exactly the best thing for a newbie as they are very volatile and alot goes into understanding what drives and effects them. Plus especially in commodities theres not very many trainee or junior positions going around

diagram-p · Feb 10, 2008

Makes sense! I was looking at trading the ETFs of the major precious metals to take advantage of being able to hold a long position without the risk of a futures contract...but your point is well made. I am not looking at working as a trader for a large financial or IB as I am 33 and a little old to be trying to go into that field without any formal qualifications (besides I get paid well to do the analysis work

However I would like to begin trading from home or whilst quiet at work and slowly building up to working as a day trader.

So is technical analysis in the equities market the best area to begin?

Career change assistance please?

diagram-p

Junior member

theroguetrader

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crude_lover

Active member

diagram-p

Junior member

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