Black Caesar's Guide To Trading Thread

[black caesar]

I just found out about this book a minute ago, so I haven't read it, but ya'll know I got you with the links:

Trading In The Zone by Mark Douglas
http://www.filecrop.com/42992808/index.html

 

[A.J. Trillzynski]

my wife has a shit job and wants to just stay home so I'm thinking about setting up a full-time Day Trading or Forex operation for us, I can go to work and she can manage the trades if properly educated. First thing I did was buy that Day Trading for Dummies book and she is supposed to be reading it to see if she thinks its something she'd like to do. To start off though let's determine 2 things and get them straight:

1. how much money are we talking to start up a full-time Day Trading operation?

2. can females really be successful traders on some Maria Bartiromo shit or do I need to shut down this pipe dream with the quickness before it goes any further?

 

[black caesar]

my wife has a shit job and wants to just stay home so I'm thinking about setting up a full-time Day Trading or Forex operation for us, I can go to work and she can manage the trades if properly educated. First thing I did was buy that Day Trading for Dummies book and she is supposed to be reading it to see if she thinks its something she'd like to do. To start off though let's determine 2 things and get them straight:

1. how much money are we talking to start up a full-time Day Trading operation?

2. can females really be successful traders on some Maria Bartiromo shit or do I need to shut down this pipe dream with the quickness before it goes any further?

If you're going to start up a full time day trading operation, first let me say congrats. I'm still trying to get to that point. First you need to deal with a direct access broker, (not a discount broker even though some have ECN access) There are only two that I know of which is Tradestation and Interactive Brokers. I think Lightspeed is another as well. Go here to read the requirements and reviews:
http://www.brokerage-review.com/

Tradestation for non-day traders is $5000 to start, but for daytraders it's $30,000. (I got a while before I get there. With Interactive Brokers, the minimum fee is $10,000. It doesn't stop there, because they are direct access, it's software installs on your PC and you have to pay on a monthly basis to use it. In addition, you'll want to subscribe to charts either through them or a third party.

 

[black caesar]

Here are some more Trading books you should read:

The New Market Wizards by Jack D. Schwager
http://www.mediafire.com/?1tuzxoc3ttl

Technical Analysis Of The Financial Markets by John Murphy
http://www.filestube.com/c3lnjQdOWj...hnical-Analysis-Of-The-Financial-Markets.html

Mastering The Trade by John Carter:
http://depositfiles.com/files/gaxhstdj0

Volitile Markets Made Easy by Guy Cohen:
http://ebookbrowse.com/guy-cohen-volatile-markets-made-easy-pdf-d370330250

 

[black caesar]

A book I'm reading now:

Al About Short Selling by Tom Taulli:
http://uploaded.net/file/otu5p9tq/All.About.Short.Selling.pdf

The New Sell & Sell Short by Alexander Elder: (It's a mobi file, so use calibre to convert to pdf)
http://www.filestube.com/t/the+new+sell+sell+short

Millionaire Traders by Kathy Lien, and Boris Schlossberg:
http://ebookee.org/go/?u=http://www.2shared.com/document/9KCARM4Q/Millionaire_Traders_How_-_Ever.html

 

[kingofharts]

Don't know if I'd recommend day trading, but I do recommend more a hybrid between the value investing buy and hold forever theory and a trading/speculating strategy that fills in some of the not-well answered questions in value investing---like when to sell.

Good stuff. Jack Schwager actually has about 3 books where he interviewed some of the greatest traders of all time. Very influential in terms of having the right mindstate. Less so in terms of actionable strategies.

Couple big influences on me:

How to Make Money in Stocks by William O'Neil

Trend Following - Michael Covel

Anyways, happy to see both threads.

 

[black caesar]

Don't know if I'd recommend day trading, but I do recommend more a hybrid between the value investing buy and hold forever theory and a trading/speculating strategy that fills in some of the not-well answered questions in value investing---like when to sell.

Good stuff. Jack Schwager actually has about 3 books where he interviewed some of the greatest traders of all time. Very influential in terms of having the right mindstate. Less so in terms of actionable strategies.

Couple big influences on me:

How to Make Money in Stocks by William O'Neil

Trend Following - Michael Covel

Anyways, happy to see both threads.

I believe in both principles. I haven't started trading yet. But when you start making profits from trading, you put some of it into long term investments. I believe a person can do both.

Good drop with the books. Wish you had put up some links. lol

 

[black caesar]

Trend Following Updated Edition by Michael Covel
http://www.bergfiles.com/i/bf551adc0ch32i0

 

[A.J. Trillzynski]

good thread, a lot of good information here.

One alternative to starting your own operation I am seeing is something called prop firms. These are trading firms that you invest ~ $5k for a lot of training and then they give you access to a large amount of the company's capital to trade with and they take a small cut. From what I've gathered they are a great way to get serious training and get started as a real Trader, you can get enough experience to get hired on to a real firm and get sponsored for your Series 7 exam (license to sell securities/become a broker). Check out Maverick Trading, I here its one of the better ones.