Only my second post. I like the look of this forum and how it is setup.
Firstly, some background. I'm 21 year old university student. I have become interested in the stock market because of the media surrounding the recent global economic crisis. In such unpredictable times (in a game that relies on predictability) I have probably chosen a poor time to become interested. My mentor in learning about the market is through by grandfather who is a day trader in the futures market. He is predominantly a chartist. I would also add I have spent many years in sports betting markets - I would say this has given me a solid understanding of money management.
In my reading on topics in the Beginner's Lounge I have read about all the suggestions. I just have a few follow-up specific questions to ask:
The Beginner Question - The Learned Response - The Follow-up
1. I have no idea what I'm doing, where should I begin? - Ohh dear, read heaps and learn. - With all the ebook 200 page pdf fodder out there I would like to know what books specifically should I read? I have tried the search function so any link to a post on this site would be appreciated if I missed it.
2. How do I read charts so I can make money? - Ohh dear, read heaps and work out your own style of trading. - What styles are you referring to and where is there a succinct summary on such styles?
3. What do I need to begin with? - Ohh dear, I do not know where to start. You have to work out what suits your personality (scalping, swing trading, position trading, momentum trading, or longer-term investing) - Where are terms likes these found, what books/websites run you through these terms?
4. How much money do I need? - A lot. - What would be a reasonable minimum specifically?
My goal: To make money.
Time period: Intermediate term.
Prepared to lose: 5000.
So I think my questions are -
What are the best websites to view?
What are the best books to read?
From the above two questions I garner I want quality rather than quantity - it saves time to avoid a lot of the tripe on the internet.
What is the best setup, you personally, have found works? What timeframe do you trade on? What information do you use? What is the source of that information?
Also, how long has it taken you from my position to adapt and become "comfortable" in buying and selling shares? When did you find a "rhythm"?
Are there any other questions I should be asking from my "fresh" position that need knowing?
Edit: I'm interested in WOW, ROC, INP, VGA, AGO, FMG. That might help you work out what type of trader I am... probably not... now that I think about it, no.