How to become a trader

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k.chris80

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Hi, I want to start trading but don't know where to start:)
I found website cityforextraders.co.uk that offer training. What do you guys think of it?
 
k.chris80 said:
Hi, I want to start trading but don't know where to start:)
I found website cityforextraders.co.uk that offer training. What do you guys think of it?
Click to expand...

Most of these training courses are an absolute ripoff, how much are cityforextraders.co.uk charging?
 
Hmmm are their online courses covered by the consumers distance selling rules ? I.e if you buy online you have 7 days with which to return it n 7 days ?

Thinking it might be a way to cover the risk, if online courses have that statutory protection in place ...?
 
spinola said:
Hmmm are their online courses covered by the consumers distance selling rules ? I.e if you buy online you have 7 days with which to return it n 7 days ?

Thinking it might be a way to cover the risk, if online courses have that statutory protection in place ...?
Click to expand...

lol so you're the guy. I'll be looking on Ebay for it.
 
luckyd1976 said:
lol so you're the guy. I'll be looking on Ebay for it.
Click to expand...

Yeah, I'm the guy that knows a guy ! Whats on the Bay ? This poster looking to punt on a course, I ask are they covered by distance selling regs , that gives people the right to return goods they bought online.......

I am always honourable in my transactions of course ! :)
 
Hello guys, I was just browsing through the post and this caught my eye from the standpoint of yup.... been there. Just my opinion of course but, a trading education is the most important aspect of being successful, don't skimp on that department. 90% of traders lose money over the long haul. There are basically 2 aspects that need to be addressed. Trading successfully and dealing with your psychological emotions while trading. You'll learn to trade reading books and buying trading DVD's, joining trading rooms that give you signals with magic indicators. You'll plug along picking up bits and pieces here and there, but you will be struggling just keeping your account open, wasting years of your life if you pursue your dream. Find a professional coach or mentor you will be saving money in the long run. Make sure that he/she addresses the psychological aspects of trading. I struggled and wandered around aimlessly for 5 years before finally throwing in the towel. I sat back and regrouped, deciding to finally get professional help, lol. I found a coach who helped straighten me out back then. The coaches biggest challenge was deprogramming all my bad habits that had accumulated over the years. I finally became consistently profitable, but it's been a long frustrating road.
 
Hi,I am Jamie Nash and I work in a brokers firm in the City of London.

To be honest, learning to trade successfully should be an integral part of your trading career. I see many people on a daily basis deposit hundreds of pounds into their trading account. They make beginner mistakes like the will win 3 trades at 10 pips, then lose 1 trade at 50 pips, making a net loss of 20 pips.

I see many people trade, lose money and then never trade again. My advice would be to learn to trade before you start actual trading. Make sure you are confident before you trade.

Do your research and look around at many companies.

And remember never trade what you can't afford to lose.
:smart::smart:
 
k.chris80 said:
Hi, I want to start trading but don't know where to start:)
I found website cityforextraders.co.uk that offer training. What do you guys think of it?
Click to expand...

invest in a good book, then open up a SB account and paper trade, then when you got the hang of it trade for real, small increments at a time...........to fully understand trading you need to trade for real.

Then again, you sure your not just advertising mate?funny how your first post has a link to this company then your second post has course prices?????..........mmmmmm
 
traderboi29 said:
invest in a good book, then open up a SB account and paper trade, then when you got the hang of it trade for real, small increments at a time...........to fully understand trading you need to trade for real.

Then again, you sure your not just advertising mate?funny how your first post has a link to this company then your second post has course prices?????..........mmmmmm
Click to expand...
I'm sure I don't advertise. I just don't want to be ripped off as this website does feel like a scam! Thanks anyway
 
Hello all,

I am in the same boat as our newbie friend here and am looking for advice/mentor/potential co-worker ect...

I am a young graduate and master (International Business Law) but have become fascinated with trading. I have read a number of books (warren buffett, madoff, Benjamin Graham ect...) and have been searching the online pages for extra help.

I completly agree that one should do their dilligence before throwing their money in...however, I believe practical experience is also important. However, it seems starting small is not a viable option due to the fact the trading fee's are around £10 per trade and many accounts require a minimum deposit (around £1000 for execution only).

I have been looking at joining a firm to pick up some practical experience but again, have struggled to find any oppertunities. Can someone please share some insights on how they began trading and some pitfalls, or positives, they encountered??

Thanks in advance (y)

Michael :smart:
 
JamieNash86 said:
To be honest, learning to trade successfully should be an integral part of your trading career. I see many people on a daily basis deposit hundreds of pounds into their trading account. They make beginner mistakes like the will win 3 trades at 10 pips, then lose 1 trade at 50 pips, making a net loss of 20 pips.

And remember never trade what you can't afford to lose.
:smart::smart:
Click to expand...

That's known as, "eating like a bird & sh**ing like an elephant."

Thousands of good educational resources on the web, and you can usually pick up second hand DVDs and books on eBay, Amazon, etc.

Learning the analysis is really only a small part of the journey, the real "meat" of learning to trade is learning risk management and trader psychology, controlling those emotions!

I think the main pitfall for any trader is over exposing themselves to risk, if you have too much cash on the line, you are too emotional and you are more likely to move stops, average up and down, etc. all that will do (9 times out of 10) is compound losses. Letting just one trade get wildly out of hand can result in a decimated account and you curled up in the foetal position quivering under your desk (I speak from bitter experience, having a bias can be expensive, let the market tell you where it's heading next)... Accept the risk on each and EVERY trade, be prepared to lose that money and place your stop where your analysis is invalidated, if the trade goes against you then just allow it to get stopped out for a SMALL loss, small loses are part & parcel of trading and go with the territory.

Keep out of trouble, so that you'll still be around to capitalise on the opportunities that do go your way, maybe even move your stops to break even as soon as possible, if you get stopped out you can usually get a better re-entry.

Always think defence, especially when you're just starting out.

All the best with it...
 
Last edited:
k.chris80 said:
Hi, I want to start trading but don't know where to start:)
I found website cityforextraders.co.uk that offer training. What do you guys think of it?
Click to expand...

Sounds great, cheap too, don't be put off by these naysayers, you go for it son, what have you got to lose (other than money)...Come back here and give us the educashun afterwards, we need more holy grails, they're a bit thin on the ground atm...:)
 
You want a tip on how to make more money trading? Here's a tip for you: get a better paid job.
 
Hi ,you can talk with your friends,or you can search some useful informations about the site.people only give your ideas but finally is you make a decision. right?
 
IMHO, it takes at least 5 years of tossing darts before a few actually land in the profitable zone often enough to make a living. You don't learn to trade profitably on a consistent level by reading books and watching dvd's. You end up paying $60 for a dvd and $600 implementing that magic whatever. Paper trading does nothing more than create bad habits that will take years to deprogram. Aftrer you have wasted your nestegg and throw your hands up in dispair, should you decide to continue on your path, you will find someon profitable whose brain you will pick. It usually takes about 5 years to figure that out. Just a summary from my own experience combined with the thoughts of many others. If you are the exception to the case, well, God Bless.
 
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