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#1
09-17-2007, 01:58 PM
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becoming a market wizard
what is some good advice to a 20 year old kid who is looking to become a master of the markets?
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#2
09-17-2007, 02:34 PM
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Re: becoming a market wizard
1. read, read, and read everything that has to do with the mkt
2. mock portfolio 3. start a small portfolio X. take the Series 7 course
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#3
09-17-2007, 03:02 PM
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Re: becoming a market wizard
[ QUOTE ]
1. read, read, and read everything that has to do with the mkt 2. mock portfolio 3. start a small portfolio X. take the Series 7 course [/ QUOTE ] i've seen the recommended books in the FAQ, i will read all that i can. what exactly is a mock portfolio?...is that the same as paper trading? as far as starting a small portfolio....how small is too small?. (i'm broke, what is the absolute minimum i should start investing with) (assuming i have a fair ammount of knowledge about what i'm doing) as far as the series 7, i thought you had to be employed by a brokerage firm to train for it and take it. please explain how i can take that course as an individual investor.
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#4
09-17-2007, 03:09 PM
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Re: becoming a market wizard
[ QUOTE ]
[ QUOTE ] 1. read, read, and read everything that has to do with the mkt 2. mock portfolio 3. start a small portfolio X. take the Series 7 course [/ QUOTE ] i've seen the recommended books in the FAQ, i will read all that i can. what exactly is a mock portfolio?...is that the same as paper trading? as far as starting a small portfolio....how small is too small?. (i'm broke, what is the absolute minimum i should start investing with) (assuming i have a fair ammount of knowledge about what i'm doing) as far as the series 7, i thought you had to be employed by a brokerage firm to train for it and take it. please explain how i can take that course as an individual investor. [/ QUOTE ]mock portfolio and paper trading is the same thing I guess. how broke is broke? get Series 7 Books
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#5
09-17-2007, 03:25 PM
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Re: becoming a market wizard
[ QUOTE ]
[ QUOTE ] [ QUOTE ] 1. read, read, and read everything that has to do with the mkt 2. mock portfolio 3. start a small portfolio X. take the Series 7 course [/ QUOTE ] i've seen the recommended books in the FAQ, i will read all that i can. what exactly is a mock portfolio?...is that the same as paper trading? as far as starting a small portfolio....how small is too small?. (i'm broke, what is the absolute minimum i should start investing with) (assuming i have a fair ammount of knowledge about what i'm doing) as far as the series 7, i thought you had to be employed by a brokerage firm to train for it and take it. please explain how i can take that course as an individual investor. [/ QUOTE ]mock portfolio and paper trading is the same thing I guess. how broke is broke? get Series 7 Books [/ QUOTE ] broke enough to keep me out of the markets for right now..but not broke enough to keep me from saving up to invest, i just want to know a good goal dollar ammount to know when i ll be able to invest... if i get series 7 books, study , how do i take the test, is it something that happens every once in a while....do i contact the state...?!?!?!?...how do i take the exam.
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#6
09-17-2007, 03:38 PM
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Re: becoming a market wizard
well it's like prep work
gaining the knowledge for the future when you actually gain employment with a brokerage firm knowledge is power cash is king too broke to stay out of the mkts then you should start like a high rate saving a/c a HRS a/c is a good start I think
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#7
09-17-2007, 03:55 PM
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Re: becoming a market wizard
[censored] reading, make contacts and find mentors. the [censored] you learn in books is the conventinoal [censored] that everybody already knows. just reading a bunch of books and then paper trading is a surefire path to mediocrity, not market wizardry.
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#8
09-17-2007, 05:15 PM
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Re: becoming a market wizard
[ QUOTE ]
[censored] reading, make contacts and find mentors. the [censored] you learn in books is the conventinoal [censored] that everybody already knows. just reading a bunch of books and then paper trading is a surefire path to mediocrity, not market wizardry. [/ QUOTE ] You could say the same about poker. Could one not learn some fundamentals from books and then develop their own approach?
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#9
09-17-2007, 05:27 PM
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Re: becoming a market wizard
What's he going to get out of a Series 7? That sounds like more of an impediment than a help.
edit: to answer the OP a bit, most online brokerages have a minimum of $1000 to $2000 so you should check around and consider that minimum to be your initial savings target.
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