New to the forum. Hello. Need advice!

[fonsi141]

New to the forum. Need advice!

Hello. I am 15 years old and heres my story. I traded my first stocks last year around december. I bought $500 worth of GE and 500$ worth of T which I sold a couple months later getting a 25% increase on each. I had bought those stocks just as an investment. Then in summer I bought my third stock which was RSH spending about $500. I traded that stock by impulse and lost about 40% of the money invested. After that moment I gave up trading even though I had not traded much. Around September I was introduced to timothy sykes and subscribed to his TIMAlerts. At this time I still did not know much about trading nor technical analysis. Three months had past and I had not trade anything. I left the newsletter and began reasearching online. I am currently only using Wall Street Survivor to practice trading. I know some of the basics but I still do not know much. I tried teaching myself but this has not worked out very well. I am interested in technical analysis. I would appreciate some advice and how can learn and improve my trading skills. Thank you!

 

[NVP]

hey fonsi

you have age on your side so there is no rush......take your time and dont drop another dollar until you have studied at least 20 systems minimum.....50 preferably

as you look at styles and systems you will see what works for you

pick them from the many Trading forums..(T2W , Forex factory) if you are not sure just look at the systems that have the most views or posts ....that doesnt make them necessarily the best but it indicates they have been running for a while with committed followers and have not been dimissed as scams or are poor systems...

and dont pay a penny for anything - use free sources

and relax - even if you are keen and talented it still takes 10,000 hours to be good at anything worth being good at ....

good luck
N

 

[Liquid validity]

Re: New to the forum. Need advice!

Hello. I am 15 years old

Save your money towards your education.
Look at maths, physics I.T. etc.
If you aren't much good at them focus on any other talents you have.

What I am trying to say is do not, under any circumstances,
let your education suffer for the sake of studying retail trading.
A good education is a backup, even if you don't plan on using it.
A good education would allow you to get a decent job, and then fund your trading.
A good education may give you the slim chance of getting into investment banking.

Education, education, education.
Although if you are not academically inclined, then I would suggest
a well paid trade instead with a view to going self employed and starting a business.

 

[phoenix25140]

only trade 1% of your account, the losses dont hurt so bad then.

and dont trade too frequently, wait for your setup.

 

[timsk]

Hi fonsi,
Welcome to T2W.
Good advise from L_V. Additionally, take a look at this FAQ - there are some pointers in there designed to help youngsters like yourself: How Do I get a Job Trading?
Tim.

 

[ffsear]

hey fonsi

you have age on your side so there is no rush......take your time and dont drop another dollar until you have studied at least 20 systems minimum.....50 preferably

as you look at styles and systems you will see what works for you

pick them from the many Trading forums..(T2W , Forex factory) if you are not sure just look at the systems that have the most views or posts ....that doesnt make them necessarily the best but it indicates they have been running for a while with committed followers and have not been dimissed as scams or are poor systems...

and dont pay a penny for anything - use free sources

and relax - even if you are keen and talented it still takes 10,000 hours to be good at anything worth being good at ....

good luck
N

excellent and friendly advice! Its a shame we dont have more like you on here.

 

[BeginnerJoe]

At 15 you should gamble pennies with kids your age. Even adults shouldn't go around gambling $500, or their kids will end up being loosers at skool because their parents couldn't afford to give lunch money after gambling away the money.

 

[BeginnerJoe]

Hi fonsi,
Welcome to T2W.
Good advise from L_V. Additionally, take a look at this FAQ - there are some pointers in there designed to help youngsters like yourself: How Do I get a Job Trading?
Tim.

I'd be careful giving advice to minors. Their parents could potentially sue you for millions if you represents a commercial entity.

 

[pboyles]

I applaud what you are trying to do. To have the passion and the wherewithal to do something most adults do not understand is great. Everyone has their lumps, especially at first. But if you are willing to learn and understand the markets moves up and down and you can constantly be pulling money out of it if you are fast to act then at some point a big loser can be equaled out and surpassed by a bunch of small winners.
Chris

Stay well clear of this get rich quick chancer.

 

[Liquid validity]

Stay well clear of this get rich quick chancer.

Guessing you've already flagged as sig spam, I have as well, no mods about though.

 

[pboyles]

Guessing you've already flagged as sig spam, I have as well, no mods about though.

This one is quite interesting, he links to CoolTrader Pro Customer Site a magic robot system 'invented' by Ed Borsano. Sadly though your dreams of easy riches will not come true as Ed is in a spot of bother in Arizona.

http://images.edocket.azcc.gov/docketpdf/0000123705.pdf

 

[pboyles]

Christopher Hurney, the guy who posted the spam is just another MLM 'guru', investments today and slimming tablets tomorrow, usual crap.

 

[duderex]

Try to find broker that can invest as small as $5. And trade with smallest pip and leverage. So, you might learn to control your greed and emotion. Learn to trade more from e-books or videos. And practice until you are able to minimize the lost.

 

[Liquid validity]

Sorted, Jon is on the case, hammer swing in full flow

 

[Liquid validity]

This one is quite interesting, he links to ***I removed link*** a magic robot system 'invented' by Ed Borsano. Sadly though your dreams of easy riches will not come true as Ed is in a spot of bother in Arizona.

All gone now.

 

[Liquid validity]

Going back to the OP, I still can't believe how many people think an
under capitalised 15 year old should be prioritising retail trading...

To the OP, play the long game, you are in no rush.