Trading For beginners, Where to Start?

SupraSonic_26

Hi all im thinking maybe getting into trading buying stock ect but starting very small but never done it before, any suggestions where to start like courses or just watch youtube vids. Where could you start trading small like invest few euros see if id like it or have a nack for it just something ive been interested in just not sure where to start thanks.

Mr. Incognito

SupraSonic_26 wrote: »

Hi all im thinking maybe getting into trading buying stock ect but starting very small but never done it before, any suggestions where to start like courses or just watch youtube vids. Where could you start trading small like invest few euros see if id like it or have a nack for it just something ive been interested in just not sure where to start thanks.

Trading isn't set up to start small. Min fee for brokers is usually fifty euro a trade.

SupraSonic_26

so you can only start at 50 euro start trading with brokers im guessing they dont help you out on how to start or how it all works really?

SupraSonic_26

I suppose this be a good start:

http://www.investopedia.com/simulator/

Value Hunter

Don't mind that €50 per trade talk. You can start for much less. Interactive brokers is $1 per trade. Granted you need a minimum acc balance and other possible charges, but still very easy to start.

Other options like spread betting and cfd's can be cost effective if you don't get carried away with the leverage!

As for getting started, where to begin! Youtube and investopedia are great for explaining the very basics of what trading and shares are. As to being successful, it will require a lot of reading and studying of different methods before you find which one suits you best.

It's really to broad a subject for one answer to sum it all up. The majority depends on what your aiming for. High Growth/Risk, modest growth, income, ability to afford losses, time available, ability to be patient with investments etc etc

smash

Join eToro with a practice account. Make a few trades, copy and follow some high profile traders to see how they trade. Their openbook platform is useful for gaining basic knowledge.

for actual trading, their spreads are too high. But it's good as a social platform for practice.

arrowloopboy

My advice , forget etoro, forget youtube ,buy some books ,reputable books ,as any fool can follow a trader on etoro or take a chancers word on youtube of a guaranteed way to ''beat the market''
It would be far too easy for someone starting out to get sucked in by watching videos in my opinion versus reading books and having to form their own opinions.
Start with these,
The Naked Trader series (2 Books)
Trading in the zone
Trade your way to financial freedom
and not at the start, but later (as it might turn you off) The Intelligent Investor .
That would be a great investment with 50 quid.
P.S ,don't believe the hype/bullsh1t ,Theirs no Holy Grail,and if you want a ''Guarantee'' ,buy a toaster !

Tugboats

SupraSonic_26 wrote: »

Hi all im thinking maybe getting into trading buying stock ect but starting very small but never done it before, any suggestions where to start like courses or just watch youtube vids. Where could you start trading small like invest few euros see if id like it or have a nack for it just something ive been interested in just not sure where to start thanks.

There is plenty of free resources online and people have already mentioned some books. Ignore people who tell you how hard it is. These people may also tell you the biggest misconception in trading and that is that 95% fail. This is done for two reasons

1 they are trading successfully and want to feel special and good about themselves because they are doing what 95% "fail" at

2 The industry loves to quote high failure rates because they have a product to sell that can get you into the 5% club

SupraSonic_26

Tugboats wrote: »

There is plenty of free resources online and people have already mentioned some books. Ignore people who tell you how hard it is. These people may also tell you the biggest misconception in trading and that is that 95% fail. This is done for two reasons

1 they are trading successfully and want to feel special and good about themselves because they are doing what 95% fail at

2 The industry loves to quote high failure rates because they have a product to sell that can get you into the 5% club

ya been reading about it looks pretty hard like noticing a trend when to buy and when to sell ect.

For ever odd

SupraSonic_26 wrote: »

ya been reading about it looks pretty hard like noticing a trend when to buy and when to sell ect.

maybe Pick one company that you like or whatever it is you intend to trade and follow it for at least a year.
Research and read everything you can about it(maybe five years worth) taking notes and dates. You can then look at price action on the charts and start to understand why it moved up, down or sideways.
It is hard at the start but the more effort you put in, the easier it gets. Good luck

Bateman

arrowloopboy wrote: »

Trading in the zone

Have this in my pile but not started yet, heard good things about it. Might be an idea to have a sticky thread for books that would be considered "hall of fame", ie recommended by multiple forum posters

smash

Keep an eye on groupon too. They sometimes have on-line courses popping up and I've seen trading courses in the past. Would be useful to learn how to read charts.

arrowloopboy

Bateman wrote: »

Have this in my pile but not started yet, heard good things about it. Might be an idea to have a sticky thread for books that would be considered "hall of fame", ie recommended by multiple forum posters

I'd read this one first,it will help fix your brain .

Fizman

I've just finished reading The NAked Trader and would recommend it. I think it's a great place to start.

For ever odd

Bateman wrote: »

Have this in my pile but not started yet, heard good things about it. Might be an idea to have a sticky thread for books that would be considered "hall of fame", ie recommended by multiple forum posters

It is already up there.
http://www.boards.ie/vbulletin/showthread.php?t=2055892970