Starting From Scratch

[Mikeno]

Hello Everyone,

A new Newbie here.

First, I would like to thank all of you for your input on Krelsik.com. I was in the process of teaching myself to trade Options on equities when I came across Avery?s BuyZone strategy. TheRumpledOne has piqued my interest to say the very least.

A special thank you, to both Avery and Michal, for all the work that goes into this forum. It is very gracious of both of you to give your time and knowledge (my two favorite things) to others. Thanks again. I hope to contribute in the future.

But for now, can anyone tell me where to begin?

I have very little experience trading but, I have to start somewhere.

Beginner?s book?
Platform needed?
Data feed?
Broker?
Software?
Ability to write code?
Opinion on starting capital?
Etc??

Anything you can think of would be greatly appreciated.

Thanks in advance.

Mikeno

[ajayvee]

Read - The Psychology of Trading by Brett Steenbarger - because when you get your head and emotions straightened out, the other stuff will be easier to figure out.

my $0.02 anyway

[TheRumpledOne]

Hello Everyone,

A new Newbie here.

First, I would like to thank all of you for your input on Krelsik.com. I was in the process of teaching myself to trade Options on equities when I came across Avery?s BuyZone strategy. TheRumpledOne has piqued my interest to say the very least.

A special thank you, to both Avery and Michal, for all the work that goes into this forum. It is very gracious of both of you to give your time and knowledge (my two favorite things) to others. Thanks again. I hope to contribute in the future.

But for now, can anyone tell me where to begin?

I have very little experience trading but, I have to start somewhere.

Beginner?s book?
Platform needed?
Data feed?
Broker?
Software?
Ability to write code?
Opinion on starting capital?
Etc??

Anything you can think of would be greatly appreciated.

Thanks in advance.

Mikeno

Hello Mikeno:

Welcome aboard the pirate ship Kreslik.com

I see you are in Phoenix. I am just down the road in Tucson. Perhaps we can meet sometime.

In the meantime, just surf this forum and you'll find enough FREE info. You don't have to buy anything to learn how to trade.

Stop by my FREE www.paltalk.com chatroom - the TWO PERCENT CLUB.

[flyingpb]

mikeno- Hope I can expand on your thread.

Since I am new here, I will give a brief rundown on how I got here, history, goals etc

I recently came across Elite Trader site (excellent)
There I discovered "TheRumpledOne" in "jjrvat"s thread (both priceless)
which lead me here.

Brief history.

Started my own successfly business 24 yrs ago
Actively trading for about 20 (tangible assets, not markets)
Investing for about 15 yrs
trading options (commodities) for about a year (broker assisted)

Goals
Although I would like to trade like brandonf (from ET) , I don't think my current schedule would let me. (I like my day job).
My business is weather and season dependent. so I may be too busy for a couple months, then intermittent for a couple months then slow for a couple months, with a few down days thrown in everywhere. Plus I have a family


So I am looking for other avenues to explore.
Day trading would be a good option if I can do it part time.
Figuring out which market(s) to trade will be one at the top of my list

My plans are to spend the next year (or more) studying, learning, then paper trading until I think I have enough knowledge to be dangerous.

So far my research has been by the shotgun method (scattered)
Hopefully we can continue this thread with resouces to help educate the beginner.
I will post resources for beginners as I find them, and hopefully others will do the same.

Thanks

[flyingpb]

This post by eudamonia probably should be a first read for all us beginners

http://kreslik.com/forums/viewtopic.php?t=975

[River]

Hello Mikeno,
Also a Newbie here.
I thought i would pass on a few of the many bools I have read over the
last year to get myself ready to trade.
I liked "Trend Following" by Michael Covel
"Technical Anaysis of the Financial Markets" by John Murphy is helpful
" Come into my Trading Room " by Dr Alexander Elder is an easy read and very informative

I also learned a lot from the Stock Fetcher foruns. The folks that contribute
there are very helpful. I have read posts there that will also help you with
your questions.

FYI I just started using TradeStation which is my first trading platform.
It's way more than I need but they have a trading simulator that i will
be using as part of my own training. Hope this helps.