How to become a successful Trader?

[ZPrinsloo]

Hi everyone, I only started trading shares this year as it is the first time I really have some money to invest. I finished my Industrial Engineering Degree in 2008 and entered the working class this year. I've been fascinated by the share/futures market for 2 years and couldn't wait to start investing. Now that I have the financial means to trade I find it difficult to select shares that are winners. i don't know what will move the markets and what are important things to look out for. I know that it takes a lot of hard work and experience to be consistently profitable and I'm willing to learn. Could you please give me some guidance as to where I could get proper education or knowledge on the wonderful world of share trading?

[Salv]

The courses offered by OST trader are a good place to get a basic grounding for most terms and principles. Still a novice myself, but the courses help alot. Also folow the discussions on the forums and ask quesstions. Good luck

[Galuc]

Salv is right go to every single one of OST courses and preferably more than once, they are excellent. Trade top 40 shares only for at least a year, then venture onto warrants with 10% of ur portfolio. Then if you still have any money left, go to the Radium, then only look at futures! Thats my advice

[AJT]

I am no expert and trading is a lot of fun, but maybe also consider putting aside a portion of your spare cash into investing, i.e. buy some solid companies, the likes of SAB, Standard Bank, Billiton, etc and leave them for the next 20 years. Being a trader you need to time the markets very well which is easier said than done....

[#5]

check out gt247. They have simulated trading accounts. Set yourself a goal that you reach a percentage gain on your total portfolio. Once you hit it, then apply the same strategy for real. I really recommend this, you need to experience trading decision making in real time to really get the hang of a strategy

[#6]

Yea trade shares only for at least the first year. I lost dramatically, made it all back, and then thought I was ready for warrants. Well I wasn't.

[boeth]

PATIENCE.PATIENCE

[jack12]

DONT LOSE, stay away from Warrants for the first 5years, unless you have BIG BRASS BALLS! and then read and read somemore and then read somemore then start tracking shares, run a few dummies, invest 5%for 3mths(reinvest any profits) and keep increasing Good Luck Oh before I forget buy a big box of Valium

[SimonPB]

simulated accounts are largely useless as they teach you nothing as there is no cash on the table .. start with tradign stocks and leave leverage for a long while at least ..

[jack12]

The main objective of a swing trader is to profit from swings in price movement over the course of several days. While we might trade every day, we are not day traders. We have the patience to wait until our profit goals have been reached. Fortunately, the wait is not too long. A typical trade is only in play from a few days to a few weeks. When a trade is closed, the funds go into the next trade. Money management is very important in swing trading. I divide my trading capital by 15. This is the amount that I put into each trade. As the total account grows, the amount of each trade grows. Each day I identify 20 to 25 candidates for swing trading. If I have 10 trades active and enough additional investment capital for 5 more trades, I pick the best 10 from my list of 25, and place the orders. Swing trading should be both profitable and fun.

[ZPrinsloo]

Hi jack12 Thank you for your reply, I will certainly think about what everyone has said. I think swing trading is the type of trading I would mainly do as I don't have time to sit in front of my pc and follow every move the market makes like a day trader. I also want some long term stocks in my portfolio for when I'm older. My question if you don't mind me asking is how do you prepare a short list of possible candidates for swing trades and how do you decide when the best time is to enter the trade?

[ZPrinsloo]

Thanks everyone for all your advice

[jack12]

Can send you a pdf book, it is quite useful, or check www.mrswing.com I started with the cheapest big guns ie banks sbk, asa, fsr then moved up the ladder as I made more cash. Oh check the ost tech analysis(they are normaly a few days out) but they help to lead you

[ZPrinsloo]

I would really appreciate if you could send me that ebook, I'll also look at the website. My email address is: [email protected]

[jack12]

You have mail

[#16]

Jack that pdf sounds interesting, could you send me a copy. [email protected]

[jack12]

CPS you 2 have mail

[#18]

A cheap way to send a document to a lot of people at different times is to send it to oneself by yahoomail as an attachment (perhaps others also work). It seems yahoo keeps the doc on their server. Now all one has to do is forward the mail to anyone without using all the bytes as yahoo do the sending.

[#19]

hi jack,, Sal jy vir my ook n copy stuur asb. [email protected]

[of]

pls send me pdf to [email protected]. I have gained a lot thanks for the input O