Automated Forex Trading System | Automated Forex Trading System Information

Question: Any advice for someone getting into day/swing trading?

(Posted by: Pissed off and Pissed On on 2009-05-28 10:26:47)

I am getting into day/ swing trading. I am a year into an MBA curriculum and have THOROUGHLY enjoyed every class that has even remotely been related to finance. Granted, a trader this does not make! I am currently reading "A Beginner's Guide to Day Trading Online " by Toni Turner and plan on following it up with the list of books she recommends. I am also interested in reading "High Probability ETF Trading " by Connors, Alvarez, and Penn. Regardless, what would you tell a complete trading newb to do if you could do it all over again?

Posted by: Natural Medicine Man on 2009-05-28, 11:15:58

Usually the authors of various books make more on their books then they did in the market. Each has a system that may or may not work for you. Items to do in this order: 1. Learn all you can about the sector you are interest in investing. 2. Keep learning since you are only 10% there. 3. Start by paper trading for 3-4 months. 4. Take only the funds you can lose since the market is a legal gambling tool. If you are not good with stress stop here and read no more. 5. Choose stocks that are highly volatile. 6. Diversify with only 5% of your funds in one stock. 7. Set a loss stop for all of your stocks. 8. Use an online broker otherwise the commissions will eat you up. 9. Keep perfect records for tax purposes. 10. Use each trade as a learning experience. Good luck

Posted by: super me on 2009-05-28, 11:03:50

Trading is very interesting and risky too all you need is a proper training to get started. visit bit.ly/ ttL7Y it tells you all you need to know as a beginner and also very useful for pros.

Posted by: jumpinjupiter69 on 2009-05-28, 13:57:09

Finding the stocks that are almost daily volatile is the key. I just started this within the past month and am up 20%. I have been watching another stock that has a 20-50% swing on it almost weekly and am waiting for it to come back down to buy. I like this investing/ trading gig !

Posted by: sam on 2009-05-30, 21:49:13

AIG was be a best stock to invest if you plan to invest for a long term, because AIG is too big to fail and beside AIG no longer need government bailout money. if you invest in AIG are now you returning profit is 10-30 times in 3-5 years.