I have been searching for weeks now all over the internet for someone or some company who can teach me how to trade successfully and so far I got nothing. No luck as of now. I’m on the verge of quitting. Any suggestions please?
If you trading now, you are in the bear market. Keep in mind. Tomorrow will be another huge down day. If you want to make fast money learn how to trade 3x ETF. meaning understand the global market. If you play sector specific ETF you can focus more. Gold and Silver are good at this point. They do not have that much downside now though I believe they can go down more. Stay the hell away from Dow Jones it is too high. Be very cautious.
Sentiment: Strong Sell
I’m trading the Emini S&P market. The best market for me, and I am using the strategy from eminis&p trading secret. It’s not for everybody but try to check their system out, might be what you are looking for. Turned from just buying what I need, to buying anything I want. So I’m really happy with them..
Figure out what your basic trading temperament, current skill-set, and goals are and state them clearly. Are you a short term trader, mid or long term investor? Is your focus 'any stock that can make me money' or do you prefer to invest in single sectors and stocks? Are you stickly a 'long' or are you open to diverse investment strategies that might include options and short selling as well? How much time do you/can you spend studying/preparing and actively trading and how consistent is you commitment of time.. ie. is it "I can devote time to trading as a career', 'I can spend intense periods of time then want to slack off' or 'I only want to do this in my spare time, up to x hours per day/week'?
"I want to be a rock star, but I don't know how to play any instrument well or sing and don't want to practice.. no fun if its gonna be hard work. I'd rather hang out on dweed web boards and take advice from fellow idiots" is a common attitude of traders and investors imo.
Rule number one is to develop knowledge on how to trade. There are numerous ways to trade, each requiring its own set of skills and diligence. These can each be studied using textbooks, trading classes, and trial trading accounts in which you 'trade' paper money using real-time trading data, charts, etc. NO textbook, online course, or trial account site will advise that you become a Sharezombie, ie. that you follow what some fellow idiots say on web boards. Those on web boards often post because they are long or short and want you to help them out. I have never met or corresponded with a professional trader who used web boards for more than tips. Most never use this type of web board. If you want to hook up with pro traders there are real-time chat boards, many you will never get invited to participate in. I don't know any worthwhile real time trading exchanges that are open to common mucks. I no longer do active trading but had been invited into three chats that used commonly available instant messaging plus separate web sites for exchange of charts, stock lists, and trade lists with all the stuff like strike price for breakouts, stops, or suggested stop-loss triggers values.
There are very few, if any, pro stock traders on these boards. How do I know? Because they are too busy to fool with this mess. Pro traders often start their days 1-2 hours before the market opens or the evening-night before. That way they get most of the breaking news and can do technical analysis if that is part of their disciplined trading strategy. The best were way better at it than I ever was... it was enlightening to follow them on the instant messaging boards: "I am tracking XYZA, XYZB, ...etc. for breakouts as I think the overall market will remain bullish today. I've posted the chart workups at the site. .. 9:43 XYZD has broken out and I bot 750 shares using the program trading algorithm. 10.34 .. sold for 0.34 gain. Bot XYZW at xxx..."
I agree with you on ALU but i would never give advice on what to buy as it is not my money that I would be loosen if I was wrong .
At present I am holding both Sprint and ALU they are both turn around companies looking to get back on tract and return to the higher numbers and looks like they both could be on the right tract. may take a little time but feel they are both worth the wait.
One thing I do say is buying ans selling over night is not my game due to the IRS rules and the last thing you should never do is take advice from a message board. research your own stock and pick one that is in Great demand to the consumer such as healthcare , Food , Transportation , cell phones & wireless. Them are the 4 sectors the Human beings need and use the most.
as for all the trading slang pick yourself up a book called Trading for Dummies it will teach you all you need to know in a very simple way and believe me any Dummie can understand it ( even me )