New to the game

[mazzatelli1000]

Hi there, ive been lurking in here for a while.

Currently I have about 5-10k to play with, some money left over after selling a property.

So far my foray into the share market has been premature and rather unsuccessful in the short term, but it's been interesting so far.

Although working full time i'm setting a goal that I wish to be able to trade shares with an initial aim of being able to earn about $100pw trading share, through learning, experience, practice and patience.

I guess is my above goal unrealistic or not, if not then I want to find the best resources to help me reach that goal, once I can reach that I want to then set the bar higher.

I've been experimenting a bit with paper trading with bluechip stocks which has been interesting.

I'm both interested in technical and fundamental analysis techniques as I feel based on my university studies both methods have their advantages and uses.

Software wise i'm already setup with metastock and amibroker.

Really would like to know where is the best place to start for no B.S info and guidance and for me to just forget what i've learnt and start like a total amateur.

Hussla,
This question has been answered and contributed so many times with lots of great information, I suggest you check out the Beginner Threads and do some searches.

Education and Knowledge will be the first step - University studies is not enough

Practice, test, find out what works for you - technical vs. fundamentals all are valid - depends on the eye of the beholder

Then finally jump in small etc

I wish you the best of luck

[vine]

I'm looking for a chart that was posted about 6 months ago by one of the experienced posters. It was a chart that showed the relationship between the share price movement and the different development stages of a mining company as it moved from explorer to producer. I've spent a bit of time looking but can't seem to find it, does it jog anyones memory. Thanks!

[hypaflation]

What about learning from HomeTrader or doing Chris Tate or Louise Bedford courses.

I to am new so far have been reading alot of books about candlestick charting etc and how to trade. psychology would be the most important factor. Don't get greedy and take a profit if you can.

If you make $200 in 30mins work for a day that is good!

[hypaflation]

Could anyone recommend Hometrader as a place to begin learning how to trade and setting up as a part time business.

Also would you set up a Trading Trust if you were trading shares for income or would you set up a normal trust and have your Hold shares in there also.

What are your thoughts on this?

[mazzatelli1000]

I to am new so far have been reading alot of books about candlestick charting etc and how to trade. psychology would be the most important factor. Don't get greedy and take a profit if you can.

If you make $200 in 30mins work for a day that is good!

Yeah mate,

Its that easy - in fact I make $200 in 30 secs * sarcastic*

BUT there is the rare breed that probably does that ----*cough* TH

Could anyone recommend Hometrader as a place to begin learning how to trade and setting up as a part time business.

What are your thoughts on this?

Read books and then paper trade and back test
before committing small amounts

You need a solid understanding of the market and the instrument you are going to trade

Hometrader - I can't comment as I have never used it - but usually spruikers material does not really help

I am in no way affiliated to Nick Radge, but if I were a complete noob again I would have subscribed to his service and education - check it out.

Plus there are lots of knowledgeable traders on this forum - so work hard and trawl through the threads

Kind of annoying me that I keep having to rehash the same answer when it is only a few posts up

[Sharkey88]

Hello Tugga.

I'm new to the game as well. I've come across a fantastic educational website I feel would assist you. It is called babypips.com

Thank you Hangseng for your awesome advice. I will be following it almost by the letter. I find myself in a similar situation that prompted you to do a mindset change. You are a great inspiration to the rest of us starting out.

[hangseng]

Hello Tugga.

I'm new to the game as well. I've come across a fantastic educational website I feel would assist you. It is called babypips.com

Thank you Hangseng for your awesome advice. I will be following it almost by the letter. I find myself in a similar situation that prompted you to do a mindset change. You are a great inspiration to the rest of us starting out.

You are too kind Sharkey.

Please don't take it as advice, more as information to be shared and used as may be relevant to your individual circumstances.

For what it is worth I am currently employing the best advice I ever read.
"Be greedy when others are fearful and fearful when others are greedy". I am doing the former in blue now on a regular basis, I have done very well following that simple Buffet principle. I will tell you all in 2010 if I was right to do so.

Best wishes to all for 2009.
Hangseng

[hotqld]

Hi, have just located this site. Have not started trading as yet. Still researching and learning. So confusing on where to start. Which book to read first? I only want to paper trade initially and then trade on a small scale. I do not want to pay an exorbitant price for a software program but I do need one for charting, back testing etc. I understand I should be looking for a 'toolbox' and not a 'black box' (ie something I can modify).
Can someone please point me in the right direction.
I have looked at Pro Trader. It would be preferable to use something that I can readily obtain assistance for and ideally attend a user group. I live in Queensland, on the Sunshine Coast (and yes it has been unusually cold this winter!!!, but coming from Canberra, I would not dare complain!).
I did do a search on other threads but could not find something which actually educates me on where to start. I am keen to get going!!!!!!!

Have a look at "Market Analyst" its back testing / chart stimulation is great as you can enter a date in the past and then move forward one day at a time without seeing the future. What a difference it makes to your backtesting I reckon any backtesting done where you know/ can see the future is flawed!
"Acofe" a local company teaches share trading basics.
I think a mixture of class room study, books and forming a private trading group is the way to go.
Cheers
Tony

[alphatraderx]

Hi all,

I am new to this forum. Just a brief introduction of myself, I had worked in various sectors in the banking industry: asset management, bank treasury, hedge fund and financial news provider. My experience and knowledge exposure me to equities, commodities and forex. With these experience and knowledge, I am now trading for a Living with my fully tested trading system based on real life experience.

Hope to share trading experience and learn from each other here.

[nunthewiser]

Hi all,

I am new to this forum. Just a brief introduction of myself, I had worked in various sectors in the banking industry: asset management, bank treasury, hedge fund and financial news provider. My experience and knowledge exposure me to equities, commodities and forex. With these experience and knowledge, I am now trading for a Living with my fully tested trading system based on real life experience.

Hope to share trading experience and learn from each other here.

and this is a quote from your web page

cheers obi one

"If you are a Forex newbie and have a question, who can you ask?

The best channel to learn and build your confidence in Forex trading by subscribing to my Practical FX trading educational services.

This is a 2 months subscription package where you will recieve a proprietary trading manual for my system. You will also recieve instant email on my trades. More importantly, you can fire off unlimited questions and doubts to me which will help you to learn from the master himself.

For those who are long enough in this market, you should know that this is better than paying few thousand dollars for trading seminars that do not produce good results."

blessya

[nunthewiser]

p.s i really thought the "master" bit was really cool


where do i send the check?

i'll have 3 thanks

[Wysiwyg]

and this is a quote from your web page
cheers obi one
blessya

Benefit of the doubt nun.The chap says he is experienced so could be a good contributor.

[nunthewiser]

Benefit of the doubt nun.The chap says he is experienced so could be a good contributor.

yeah m8 wasnt any offencce intended just found the "master" bit rather intriguing followed by the pay me bit.

[sammy84]

I'm with nun, benefit of doubt goes out the window when any one proclaims themselves a master. Unless of course your god

[Wysiwyg]

There are many traders not making it trading forex and trying to sell "their" indicators to the newbs.

note , this is my updated view after blog perusal.

[nizar]

"learn from the master himself"

Classic

[sinajee]

Hi Everyone

I am new to the game also, have done the courses, lost money and am back at square one.....well not quite!!!!! I am back to the drawing board, following suggestions here and back to the reading, having a go at the asx game and doing dismally.... but then again I guess that is all part of the process. What I was wondering is if there is anyone out there in a similar situation who would be interested in in getting together on skype or whatever, swapping notes etc, (even a group of people). I am finding it very hard at the moment to keep motivated and 2 (or more )heads are better than one. If anyone is interested pm me please. TIA

[stash]

Hi Sinajee

i too am in the same boat, i would love to get a group of us together. I am reading all i can at the moment and have some limited experience. The main problem i have is that i have probably read too much and and found many contradictory methods out there.
it.

At the moment i am day trading on paper, nothing much just a few $ here and there But fun.

Where are you?

regards

Stash

[MaverickTrader]

I'll be in on that too if thats okay

[Dowdy]

i'm new to the commodities and forex trading.

I took a killing when i traded forex but made it all back trading commodities - trading heating oil mainly.

Guess i stick to the things i know about the market, unless someone can give me some tips on forex