Investing & Trading [ April 2018 ]

jonathan54321

Hello everyone,

I'm an engineering student, just interested in investments and trading.
I have done a little bit of study on the stock markets, but not really sure where to start.
I understand some of the strategies(using indicators, catalysts, balance sheets e.t.c) and I have much to learn still.

The questions I have are:

(1): How much would be a good amount to start off with for trading?(Obv after the paper trading stage)

(2): Which brokers should I use?

(2): What are the implications of trading? Taxes, types of assets< I saw something on ETF's, not too sure about them

(3): What else can I do apart from the stock market to gain more capital?I'm looking for quick profits, not gambling or saving

constructive criticism is allowed

userfriendly2

jonathan54321 wrote: »

Hello everyone,

I'm an engineering student, just interested in investments and trading.
I have done a little bit of study on the stock markets, but not really sure where to start.
I understand some of the strategies(using indicators, catalysts, balance sheets e.t.c) and I have much to learn still.

The questions I have are:

(1): How much would be a good amount to start off with for trading?(Obv after the paper trading stage)

(2): Which brokers should I use?

(2): What are the implications of trading? Taxes, types of assets< I saw something on ETF's, not too sure about them

(3): What else can I do apart from the stock market to gain more capital?I'm looking for quick profits, not gambling or saving

constructive criticism is allowed

Hey,

I'm in a similar position to yourself by the sounds of it in terms of trading. There are plenty of resources, educational type, on youtube and the net in general. I've spent today looking over a website called the institute of trading and portfolio management. I suggest you check them out, they have youtube videos of their seminars and the content is really good. They do a good job of clearing up a lot of misconceptions and highlighting basic mistakes retail traders make. I'm still on my own fact finding journey at the minute so if you come across anything worthwhile do comeback and share...

There is another crowd that are dublin based called the the institute of investment and financial trading (everyone has an institute nowadays) and I'm actually trying to find more information on them, from an unbiased 3rd party. Might be worthwhile having a look at them too.

peace

jonathan54321

Update****

I went to there free seminar.
They're are very comprehensive in trading, they were saying that they cover a large range of techniques, fundamentals and technicals.
They also have different packages ranging from beginners to advanced.
Definitely would consider doing the live trading boot camp.

PHG

Lets me guess, €2000 for the weekend? Ask yourself, why are they saying they cover a wide range of techniques? Or simply, if they are so successful why sell it? 99% of those seminars are a SCAM!!

Did they show you a live account, drawdowns, % wins, avg. win vs avg. loss? You can have 90% win ratio but if you only gain 1 pip profit over 9 trades and lose 10 pips on the other you are still at a loss.

Save your money, you can find all of that stuff online for free. No weekend or week will make you a profitable trader. Babypips.com have a lot of the basics for free. The majority of people fail at trading as it very difficult and 80% mind games.

Do research, find what type of trading suits you. Someone might give you a way to trade that makes them money, but no matter how much you try it, you lose, because it doesn't suit your personality.

There are plenty of books and sites mentioned in this thread if you go back through. Trading in the Zone and Market Wizards would be 2 of my favourite as a reference.

Trade2Win is also a decent site but not as active as it used to be.


To answer your questions below

1 & 2) Why not use a demo first to test whatever you are trading

3) No idea

4) You are looking for quick profits but not gambling... Most things with quick profits are gambling.

Thanks,

PHG

syntheticjunk

jonathan54321 wrote: »

Hello everyone,

(1): How much would be a good amount to start off with for trading?(Obv after the paper trading stage)

(2): Which brokers should I use?

(2): What are the implications of trading? Taxes, types of assets< I saw something on ETF's, not too sure about them

(3): What else can I do apart from the stock market to gain more capital?I'm looking for quick profits, not gambling or saving

If you want to invest - even $1000 will do the job. If you want to trade - you'll need at least 2000-3000 to be able to open margin account so you could short stocks. Stocks a bit safer than futures or FX because you cant use excessive leverage.
Most likely people going to suggest Degiro as it is cheap, but it's not good for trading as you can't short with them.
So trading with 2000-3000 account you'll be eaten alive by fees.
3. At the beginning you don't need to worry about taxes. Believe me - you'll be lucky to have your initial amount at the end of the year
3.Quick profits and big returns comes from big risk. Forget about it in financial markets. Especially when you just beginning.