Discussion in 'Making Money' started by Arn15, Feb 25, 2014.
You're better off searching Google and doing your own research regarding things like this, there are shit loads of websites dedicated to teaching trading stuff for FREE. Any experienced traders would tell you that no amount of reading and lectures would prepare you for the market.
I would like to start trading asap or find a mentor to work for free if necessary, could you recommend me some websites/ videos to help me learn the basics.
Thanks a lot.
There are numerous trading courses out there.
If you are in the UK, just sign up to Amazon local and you should find a reasonable course:
Also I have heard that this course is good:
DP has a very common theme of selling methods. These generally relies on a loophole to make money and therefore aren't at all long term. For instance, the Youtube instant ranking method that was patched recently was sold by a lot of Skype spammers from the Digital Point Forum.
I would advise you not to spend money on similar schemes. Methods that are sold are generally not worth the money, just like WSOs that you find on another IM forum.
There are so many threads on this forum that could make you a lot of money and you don't have to pay. For instance, the ranking method was shared here for free while it was sold elsewhere.
If you're really interested in trading then perhaps BHW isn't the forum for you.
I'm involved in a pool of investors that respond to calls from a guy that knows what he's doing. If that's the sort of thing you're looking for, I'll happily put you in touch with him and that won't cost you anything.
Surely you don't wanna start with a grand. There would be many available with much lower price or even you can start brushing up the knowledge yourself reading online material.
But if you are a newbie its a strict No for spending 1000 at the start.
I'm so new to the idea of trading that I don't understand some of your 'trade slang' but I am appreciative of your guidance.
What does the guy do exactly, the one you mentioned?
The course intrigued me as it seemed to get quick results and was organised by people under 25, I'm 20 so i found it pretty cool.
Do you have any advice on how to get started?
I don't normally post, but I'd hate to see anyone fall for this kind of thing.
The phrase "private equity trading" is chosen because the creators of the program know that it sounds intriguing to your average guy with no finance experience, but sounds very awkward to a professional. It doesn't really mean anyhthing because "private equity" means the equity of privately owned companies, and isn't traded on open markets the way "public equity" (what most people know as "stocks") is. All it does is create this sense of secrecy that makes you feel like by paying that 1000 you're going to get access to this other world where everyone's making money and banging supermodels.
Like everything else on this site, trading takes study, patience and money. As mentioned already, there are hundreds if not thousands of free resources online to help you get started. Most large brokerages tend to sponsor free trading tutorials/seminars/workshops that you should take advantage of. Real brokerages realize that it's in their best interest to teach you everything you need to know about the markets for free because they make their money off your trade commissions.
If you really want to learn about the markets, take that 1000, put it in a brokerage account and start trading. Then go join a more relevant forum and try and figure out why you are or aren't making money.
It is a dying market (in the US at least)- tough to find investors with real capital willing to work with a broker who is new to the business. Cold calling isn't what it used to be, not to mention that e-trade, scottrade, and other sites have taken a huge portion of the market share. My business partner is a stock broker and does very well, only because he has established major clients over the past 15-20 years. Another close friend of mine owns a brokerage in Manhattan and is having a tough time keeping new brokers as most of them are in and out of the business within a month or two.
PS: You just finished watching Wolf of Wallstreet, didn't you
dont do it even the best money managers cannot beat the markets rate of return on average.
I would like to say thanks to everyone for the advice, I have decided to learn from the bottom up and start learning about penny stocks in particular, I just have two questions...
1. What are some good forums for stocks/ penny stocks
2. Are there any courses/ websites/ tutorials you could recommend?
I'm a finance major, and know a lot of traders / investment bankers / financial advisors. If you are looking to this as a main source of income be prepared to lose large amounts of money in between your big wins. On the other hand if you are looking to this as a way to invest other money, then I would advise NOT to do any individual stock picking and instead focus on ETFs and Mutual Funds.
For example the father of a good friend of mine was talking to me a few weeks ago and he said yea last week I made $150k and I said wow that's great, but he followed it up by saying this week he lost $300k, and this is a man who has made a nice chunk of change as a commodities trader not some amateur blowing steam. So be prepared for the wild swings that come with trading.
If I were you I'd start out at investopedia.com they have a wealth of knowledge accessible on all things finance.
Of course they don't. That's why experienced money managers exist. So they can throw your money onto an index and get you the exact market return because you were obviously unable to do so on your own, which is why you hired a money manager so that he could get you mediocre, average returns.
Well Said quoted, I am in complete agreeance.
Take advantage of the free resources and be sure that this method of investing is what you really want.
whats your investment goal?
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