Hey All
I have no idea about stocks/shares, or trading or how to invest or make money from it.
I have no idea what a trader does all day when watching a chart on his computer screens as shown on tv and movies.
So does anyone know any place online, or in a book or app or game that can help explain this to a novice like me for free?
Is there a game, whether for pc/mac or a game/app for a phone, that can allow you to trade with fake/virtual money to understand how this all happens?
I know something like this was answered for me in the past by @
Zane and someone else, but I cant find that post at all so had to make this again.
I hope this helps others in the same boat too.
Also being from the UK I would prefer to understand english/british trading first if possible before understanding the US way.
thanks
Well tbh.. I am not that much of a day trader. I just invest for long-term. That's the best. You choose a stock or Crypto and invest in it and wait for it to rise and when the time comes u exit or sell it..
Being a day trader requires extensive knowledge, experience and intuitive abilities to trader along with patience.. Any greed and u could loose it.. I tried it and I lost.
What I can advice u is read books by Warren Buffet.. I havnt read them but everyone suggest that to me. If only I stop Procrastinating lol
Choose Stocks which u think have potential to rise in next decade. Called Penny stock.
There are lot of trading app that give virtual money to practice
IQ Option is one.. Just Google it and u find it even on playstore.
Tbh I am waiting for Shannon to make Trading Sub in future.. That will help speed things up.
You can Google books for Technical Analysis for trading alot of them..
Mindset is everything in Trading.. I mean everything..
(08-14-2018, 06:46 PM)Zane Wrote: [ -> ]Well tbh.. I am not that much of a day trader. I just invest for long-term. That's the best. You choose a stock or Crypto and invest in it and wait for it to rise and when the time comes u exit or sell it..
Being a day trader requires extensive knowledge, experience and intuitive abilities to trader along with patience.. Any greed and u could loose it.. I tried it and I lost.
What I can advice u is read books by Warren Buffet.. I havnt read them but everyone suggest that to me. If only I stop Procrastinating lol
Choose Stocks which u think have potential to rise in next decade. Called Penny stock.
There are lot of trading app that give virtual money to practice
IQ Option is one.. Just Google it and u find it even on playstore.
Tbh I am waiting for Shannon to make Trading Sub in future.. That will help speed things up.
You can Google books for Technical Analysis for trading alot of them..
Mindset is everything in Trading.. I mean everything..
thanks alot buddy, I am hoping UM/OP clears my procrastination so that I can start to learn things such as trading etc - would be awesome
Hi Mate I personally would stay away from crypto currencies as they are so volatile. I have to admit I am no expert on in this area its just what I have observed.
Hi, a lot of forex companies offer demo accounts to try and even when sign up can still use a demo account until feel comfortable to trade real money.
Penny shares i would avoid as they can be manipulated too much even though the appeal of a 20 cent share going up 1 cent seems like an easy way to make money the smaller the share prices the harder it is to buy enough volume to make trades worth while.
Forex trading can be done with a small amount obviously the smaller the amount smaller the profit and loss but is a good way to start with real money and work on a trading system that suits you best.
Dont fall for the appeal of movements on 5 minute charts thinking easy way to make money for every 1 or 2 successful trades you might lose on the next 7-8.
At very least use a 30 minute chart if trading forex but as a beginner daily would be the best or 4 hour.
There are websites out there with forums like this one for trading with indicators as mt4 platform allows for a lot of custom indicators to be used not all are good though.
You need to do some research find what you feel most comfortable trading, amounts to invest, how much time you have each day. Also trading is mentally draining and can make you 2nd guess yourself a lot and once that starts happening you wont be able to be successful as you need to make a decission have rules in place and follow it for the good and bad results.
You have options from shares, cfds, forex and gold trading and many others so need to find what you are most comfortable with too.
If want to talk more on it can send a pm.
@
josh84 thanks buddy ive PM as you know.
@
Vincent_Vega loved you in Pulp Fiction man! and thank you for sharing that link ill be checking it out.
what was #2.?