geurillatrader
Junior member
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Hello,
I've been trading part time for about 4 years, and think I have some good advice for those new to this.
Firstly, and I think most importantly, when I make a trade I always ask myself 'can I afford to lose this money' and strongly believe that everyone should follow this advice.
I'm self taught, and strongly believe that paid trading courses are usually rip offs. This is how I learnt:
Start trading, with REAL money.. one of the first and improtant lessons is trying to control your emotions of fear vs greed.. you just can't start that lesson if you're paper trading. And I don't think it's possible to ever really master it, as even today I lose money because I sometimes lose the battle of controlling these emotions.
Watch charts every second you can.. I use ADVFN who are about £10 a month but give pretty good real time charts with loads of tech indicators.
Read articles every day.. Reuters, Bloomberg, Market watch, FT, etc. When you see something you don't understand, google it, keep this up and within a year or so you'll find you're pretty clued up.
I've also read some very good books:
you can be a stock market genius greenblatt
reminscences of a stock operator Lefevre
The new stock market wizards Schwager
Traded options and investors guide LIFFE
And one more little word, which has saved my skin a few times before.. it's NEVER to late to get into, and more to the point out of, a trade.
Happy to answer any questions about trading part time
Good luck!
I've been trading part time for about 4 years, and think I have some good advice for those new to this.
Firstly, and I think most importantly, when I make a trade I always ask myself 'can I afford to lose this money' and strongly believe that everyone should follow this advice.
I'm self taught, and strongly believe that paid trading courses are usually rip offs. This is how I learnt:
Start trading, with REAL money.. one of the first and improtant lessons is trying to control your emotions of fear vs greed.. you just can't start that lesson if you're paper trading. And I don't think it's possible to ever really master it, as even today I lose money because I sometimes lose the battle of controlling these emotions.
Watch charts every second you can.. I use ADVFN who are about £10 a month but give pretty good real time charts with loads of tech indicators.
Read articles every day.. Reuters, Bloomberg, Market watch, FT, etc. When you see something you don't understand, google it, keep this up and within a year or so you'll find you're pretty clued up.
I've also read some very good books:
you can be a stock market genius greenblatt
reminscences of a stock operator Lefevre
The new stock market wizards Schwager
Traded options and investors guide LIFFE
And one more little word, which has saved my skin a few times before.. it's NEVER to late to get into, and more to the point out of, a trade.
Happy to answer any questions about trading part time
Good luck!
