Career change assistance please?

[diagram-p]

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]

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]

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]

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?