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Datatec Systems, Inc. (DATC) Message Board

  • TSE33 TSE33 Mar 24, 2000 12:59 PM Flag

    Night. how do you become a trader ?

    Did you have to go to college?
    How much money do you need to start with ?
    Any info will be appreciated

    Thanks in advance

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    • Well... this isnt an easy question...
      There
      are many different types of traders.
      Short Term,
      Swing or Long term... Full time or part time... Stock,
      options or futures... etc etc.
      Normally i'm trading
      stocks very short term (holding from 10-15 seconds to
      couple of hours). But DATC is an
      exception..

      Anyway.. back to your question... Usially you start
      learning on your own... picking the stocks you known for a
      while... trying to trade swing/long term...
      As for full
      time daytrading... i think that it is much more
      difficult to learn... and requires some specific
      education..
      Check out www.mtrader.com
      They teach you the 'tools
      of trade' and provide help and support during your
      learning process...
      As for starting ammount... Well
      good news are that for daytrading you need
      significantly less capital than for swing/longer term
      trading..
      Because the turnaround of money is so quick.. you
      sometime strade 10-50 times ammount of your capital..
      I
      believe 10k is good ammound for the first few months...
      while you are learning and prone to take many mistakes
      and suffer losses..
      as for Broker.. i suggest
      checking out www.mbtrading.com (thats the one i
      use).
      Full access to ISLD and ARCA books (soon REDI and INCA
      also). Great software, excellent customer support and
      best of all.. while you are learning they have special
      promotion of $5 commision for the first 2 months (with 300
      shares or less).

      So thats the scoop...
      Let me
      know if you have any other questions..

      Good
      luck
      -nk

    • sound about sound trading from these potato heads. That is Lesson #1. Start by subscribing to Investors Business Daily by going to their website.

      • 1 Reply to rustintustin
      • you have to be the most obsessed short I have
        ever witnessed on any board. Either that or you are
        some pawn trying to get the stock down for a buyer. I
        don't think you could be the buyer yourself because you
        represent yourself so unintelligently. Get a life you moron
        and do something productive with yourself. if you
        don't like the stock move on.