Advice on getting started.

Solomon Pleasant · 17-01-2016 08:52PM #1

Hello,

I'm a business student in college with an interest in learning about the financial markets, how they operate and how money can be made from them. I have managed to save up 1,000 euro through working and this is money which I am prepared to invest in order to learn how to trade. My question is are there any pieces of advice you would give to a beginner trader? For example, which is the best online stockbroker to trade through? Have you read or heard of any very informative and educational books to read which would teach me?

Thank you to anyone who offers help or replies!

moneymad · 17-01-2016 09:20PM

Being wrong is a good thing.
What i mean by this is, you put on a trade, it loses money, you put on another 3, they also lose money, on the forth you win and you turn a profit.

The reason you should be indifferent to the 3 losing trades is your strategy is one that allows you to be wrong and still make money.
Close your losing positions and admit you were wrong. Leave your winning trades run.
Don't risk more than 2% and manage your money.
In saying all of that, you will risk more than 2% and you will leave your losing trades run and lose more than you should have. It's the only way to learn.
Goodluck.

topper_harley2 · 17-01-2016 10:00PM

Hi,
This question has been asked and answered 10 times over, especially the "best online broker" question. Search this forum and you will find lots of answers to your questions, including books and web site recommendations.

Advice on getting started.

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