im am 17 years old and i finish school at end of year and i know NOTHING about trading.
first question, what is the learning curve?
second, is it feasable for a 17 yr old to be trading?
third, where do you start?
comment would be appreciated thanx
for trading you need trading capital, so being "poor" disqualifies you. You can't trade with money you need for living.
Being 17 is not really a hindrance, knowing nothing about trading makes it difficult.
Trading as such is not difficult, but being consistently profitable is one of the most difficult tasks.
The learning curve is very steep and usually it takes 3 to 5 years, before you know you made it.
So my advice, if you really want to trade, let someone else pay for your learning curve. Goto a brokerage firm or a bank and start a trading career there. Build up your own capital, so you can start trading for your own sometime in the future.
Get some good books (see recommendations on here) and open up a trial account or two. They will let you trade virtual money, see how you get on and save up some money at the same time. By the time you are making profit consistently on the virtual account you should have saved up some money. Then you are all set to get a real account and trade real money.
PS Once you trade real money your trading may change as the psychology is very different when it is your real money on the line. Still it wil be a little while so worry about that then.
Hi Aussie - this is an offer from a fellow countryman.
I am a trader, and I'm interested in having a chat.
BUT I'd need to know:
1. Your HSC predicted scores
2. You location (NSW, VIC etc.)
Write me an email explaining why you are interested in trading.
Tell me three things you are doing to further your education in trading.
Read "Reminiscences of a Stock Operator" by June 1st this year.
I'll be in Oz around that time, and I'll introduce you to a few brokers and banks that I've worked for IF you show me that you are dedicated and serious.
You need to study for your exams (I can send you a link). A good company will help you to do that. It took me a lot of study to get my license, but I'm not too good at the style of learning you have do do (things like KYC "Know Your Client" rules etc.).
Alternative to working for a big bank etc. I will be starting a hedge fund Q3 this year, we have all our FSA authorisations in place, but need an ASIC license.
Perhaps we can see if you are interested/suitable in training with/for us. NO PROMISES at all are intended here, I'd need to be convinced you were right for us. And yes, you start at the bottom (double shot latte, skinny and a blueberry muffin maybe your first task!!).
Open offer. There are though some strings attached (see above). I don't want to look like a moron and use up personal contacts if you are not dedicated enough to cut it in this industry.
PS. I hate abbreviated, non-English words like "thanx". So do many of the people that would be interested in employing you. It's a minor point - but worth remembering.
Hi all - I've been browsing this site for a couple of months now and just stumbled across this thread...
I felt I had to pop my posting cherry (if you pardon the expression) as I'm amazed that aussie hasn't been back to check any replies. Trendsignal's offer has to go down as one of the most generous I've ever heard of and aussie's a fool to miss out on it!
I'm in a similar position to aussie and this website is an absolute must-read for anyone thinking about getting into trading - I've learnt so much already.
Please keep up the great work and keep helping us newbies.
hello im back and the reason i took so long is becuase year twelve actually does consume some of my time
thank you for your offer. i live QLD and as such get an OP, not a hsc, but i have not yet started qcs trials so i dont know my predicted OP. where would i get that book from?
and how do i obtain your email adress?
hmmmm, I guess the very generous Mr Trendsignal UK may well read your post & smile/frown at your reply .....I know you're only 17, but hey.....you may have failed the first test!
if you want to contact him, why not simply click on "pm" (private message) or click on "www" go to his web page, click on 'contact' & send him an e - mail??......as for the book, try an Amazon search?? even better go to the home page of this site, click on Trading Reviews, Books....scroll down to the title & read the review/click on the title & hey presto! save yourself some money (being a student) & purchase it via the site?!
sorry to sound sarcy & dismissive (it's really not intended), but if you wanna make it in THIS industry, you have to stay one step ahead of everyone else, and initiative is a major plus point!.....
good luck in your endeavors, hope your exams work out ok, and sorry to sound harsh, but this is an unforgiving environment you're entering into aussie, no matter what your age!