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New Year, New Learnings

Discussion in 'Beginner's Lounge' started by Philomath, Jul 8, 2019.

  1. Philomath

    Philomath

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    Hi Peoples.

    Thought it best to say hi and congrats on an awesome forum, as the header says I hear to learn, I am not even sure that what kind of trader I am, I do have a love of charting :confused: I guess that's a bit of a must in trading and I understand I will need to find my own system.

    I am not looking for great wealth can that even be achieved? can I supplement my income in a few years well I guess that will remain to be seen?

    I am thinking of starting out small $500-1000 and making small trades until I find my bearings style/system.

    Many questions but will look for answers first.
     
    Skate, Trav. and Knobby22 like this.
  2. Skate

    Skate

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    Hi @Philomath welcome to the the community. The Aussie Stock Forum has many quality posters & it won't take you long to find the answers you are seeking but in the meantime checkout my 'Dump it here' thread.

    What a great first statement
    "I am thinking of starting out small $500-1000 and making small trades until I find my bearings style/system"
    @Philomath with that said, it is critical to make smart trading decisions. You can learn as you go by trading small positions as you say & if you make a mistake small loses are bearable. Making small mistakes now will give you the skills and experience you need to make the right decisions later on.

    Knowledge dumped in one place
    Over the years everyone gain knowledge. The knowledge I've gained over the years has been dumped into one thread with the desire to help others. The 'Dump it here' thread is designed & written for an easy read.

    Especially for you
    The 'Dump it here' thread has been written especially for you & it's the perfect thread for all new traders starting out on their trading journey. Reading the 'Dump it here' thread is a big commitment, it will be exhausting but in the long run it will ground you in the basics giving you enough information to find your feet.

    Helping Others
    The 'Dump it here' thread is a collection of posts designed to you.
    Find it here - https://www.aussiestockforums.com/posts/1005967/

    Catalyst
    Hopefully there will be one of my posts that will be a catalyst for you to want to read another post then another one, steamrolling you into reading the entire thread - reading my older posts is a large commitment that's why I made a free eBook (ePub format) - the download link for the free eBook is in the tag below my name. It's the book I wish I had when I started out. (blatant plug)

    Skate.
     
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  3. willoneau

    willoneau

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    When starting out it would be much better to save and build your capital while working on your system. Paper trading helps to track it's performance and improvements. Not trading with real money at first will help system development, emotional interference will interfere with that. Which has to be learned to control once you trade live.:2twocents
     
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  4. Philomath

    Philomath

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    Thanks Skate
     
  5. willoneau

    willoneau

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    Be aware of commission drag when placing small trades as this can skew the results too.
     
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  6. willoneau

    willoneau

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    Welcome Philomath, when you start down the path of trading don't be in rush to trade. There is a lot to take in and you are in a great place to start from. Read the threads of some of the experienced traders and build on them. tech/a , peter2 and skate are but a few.
     
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  7. Philomath

    Philomath

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    Thankyou Skate I am about halfway through, I am thinking I may just print out some of those paragraphs and put them on a wall may run out of wall space though.

    Also thanks willoneau yes no hurry I have plenty of reading to do not even sure of the markets software broker etc what's style going to work for me time will tell :)
     
    Skate likes this.
  8. willoneau

    willoneau

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    Amibroker is cheap and good if going down the system road and also for charting, not sure about fundamental aspect as i don't use it. I also use Premium data as my data supplier which works well with amibroker.
     
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