i want to learn how to trade please help

[TEAMTRADER]

i am 20 yrs old and am interested in trading and am willing to learn how to become a trader and be successful at it. can anyone help me out please?

I think perhaps you should reconsider your name - I can only think that it is because of the name that the comments have been rather mixed.
Don't let it get you down - 50 years ago I was still older than you are now and maybe, just maybe, I made some mistakes.
Read what you can, get a template that suits your trading eye and demo trade seriously for a minimum of 3 months and then you decide where you want to go.
Trading as a full time profession is lonely and very hard.
TEAMTRADER

 

[neil]

2005 -2015 One post wonder

I think perhaps you should reconsider your name - I can only think that it is because of the name that the comments have been rather mixed.
Don't let it get you down - 50 years ago I was still older than you are now and maybe, just maybe, I made some mistakes.
Read what you can, get a template that suits your trading eye and demo trade seriously for a minimum of 3 months and then you decide where you want to go.
Trading as a full time profession is lonely and very hard.
TEAMTRADER

No one has heard from him since his one and only post in 2005.
Maybe he is in some Mcdonalds somewhere or running a hedge fund

 

[Atilla]

No one has heard from him since his one and only post in 2005.
Maybe he is in some Mcdonalds somewhere or running a hedge fund

His had nuff replies though. :whistling

 

[Splitlink]

No one has heard from him since his one and only post in 2005.
Maybe he is in some Mcdonalds somewhere or running a hedge fund

I was about to tell him to read all the Swiss france threads and think twice.

 

[neil]

I was about to tell him to read all the Swiss france threads and think twice.

Split -you are awful- but I like you.

 

[TEAMTRADER]

No one has heard from him since his one and only post in 2005.
Maybe he is in some Mcdonalds somewhere or running a hedge fund

LOL - missed that - old eyes are not good eyes.
T

 

[MajorMagnuM]

This is a man and he has a name, Sleezy, ok, Sleezy. Hes a man and hes dead now because of us. Do you understand that ?

 

[pennycapitalist]

If I was 20 I'd go to khanacademy.org and take his free course on micro economics. While doing that I'd start saving capital. Then take his course on macro economics. I read "Wealth of Nations" when I was 20.

Find a business plan template on the net and build one for yourself complete with time and money goals and adaptable plans to accomplish those goals. Keeps notebooks of everything.

Somewhere on this site is a list of books about trading. If not then google, "Best books for stock trading". Read everyone of those books, some of them twice. While reading those books, write down all the beliefs, rules, and thoughts of the famous traders that you agree with.

Eventually you should open a real account with a firm that has a good paper money trading platform. If your capital is large enough it will be real time. Paper trade and test your beliefs, dropping those that don't work and keeping those that do. Trade everyone's system to see how they almost but not quite work for you.

If you give your mind enough space, it will find an edge or pattern of order in the mostly chaos of the market that you can trade for a profit.

If you don't want to go to all this trouble, don't worry about it. 98% of traders just "do it!" The rich get richer!

 

[pennycapitalist]

My point is to not marry anything you hear on forums, and to not get excited over something on a forum :cheesy:

I got excited over every idea I read in every book and every forum. I believed each one was finally the one. Why would the writer lie to me. I traded with real money until my accounts got too small to trade or my feelings so hurt I couldn't look my wife in the eye.

As each of these promised systems failed, I'd get depressed and retreat from the market...but my immune system wasn't strong enough to kill the bug. Finally, I learned to save money by paper trading. In my early days, they didn't have such realist demo accounts. I remember subscribing to paper chart services which would deliver two day old commodity charts.

So I would say go ahead and get excited. Just don't get too excited! Save some of your money for later!