Online Trading Stock Market and Swing Trading Discussion for the day Mar 13, 2010

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Category:

Education

Tags:

• day
• trading
• swing
• market
• online
• markets
• stocks
• forex
• futures
• learn
• watch
• help

[fiodeen]

qcom what a pick. yahhhhhhhhhhhhhhhhhhhhhhhhhhh

[sgomez858]

@fiodeen Hey now!!

[techwealth]

Can Steve put out a video?

[sgomez858]

@techwealth Occasionally I will. Promise

[dave997]

gold has been trading really ugly lately even with the DXY weakening. What do you make of that? More gold sellers than dollar sellers? Gold opened the week around 1140 and closed at 1100 even with a weak DXY all week long, i was disapointed

[sgomez858]

Yes it seems to have disconnected from the dollar. , GLD the commidity that is. Now the GDX miners have been holding up better. 110 is still a big level to watch in GLD. Good observation. Also the Euro pop maybe more responsible for the drop in USD right now and Gold just doesn't seem to care at the moment

[Jonathanio3]

(like guys saying they started trading at the age of 16 and made it, wow arent they brilliant?), to make up for some of the conflicts in your real life or merely to make some money to pay for your toys, then you are doomed. Trading is a business and you need to be rational about it, do and learn what is necessary and most of all - be frank with yourself. I of course dont know how much you know, but be as patient as you can, read and learn first. Markets will be here tomorrow as well.

[Jonathanio3]

from money to the mere process of trading and opportunity-seeking etc. Basically most of the work will be done on you and in that case trading with real money is necessary. Alas, the probability of losing that money is quite high. And one more thing -don't forget you trade to make money, nothing else. If you start trading with the need to be appreciated, to feel intelligent, to feel special in any way

[Jonathanio3]

Well, it largely depends on your mindset. Are you honest with yourself? Do you really want to learn or do you still hope to make some money. $2.000 is not enough to start trading as a serious business, to maintain 3% rule you will be limited to risk $60 (which doesnt provide you with much flexibility). However, you can at least learn some desirable skills, that you will need later, like following your rules (system), flawless execution, shifting your attention

[parrish1108]

Thanks for the reply!! So you wouldn't recommend starting small and learning about everything? maybe start with penny stock? i really wanna jump in... you basically gotta have money to make money.. honestly there is no way i can get 5,000.. so what im asking is, can i start with 2,000 and actually make small gains with that until i can start trading and working with bigger stock or would it be suicide.. like going in a cash game of poker with hardly and cash?? appreciate the advice!!

[SchoolOfTrade]

Great Video!  thanks

[Jonathanio3]

wait until you are properly capitalized, I'd suggest $5.000 as a minimum amount to trade with. However to daytrade stocks you need to maintain $25.000 in your equity.