Day Trading for Beginners - any tips for getting started?

[BionicComma]

I just had a very good night at the tournament table and now that I'm ITM, so to speak, I would like to parlay my funds into something other than a poker bankroll. I have been considering day trading as well as real estate for quite a while, but as I lack the financial resources to confidently get involved with the loans I'd need to start buying property, the stock market is looking like a good option. If that kid from the apprentice who's around my age can do it at 18, surely I can do it now.

Does anyone have some good advice on how to get started? Are there any books on the topic that are helpful / trustworthy / recommended?

I have tried searching the internet for info but looking for good tips on getting into stock trading is like using Google to look for advice on weight loss: lots of people ad-farming for lots of other people trying to sell you snake oil.

Any tips pointing me the right way would be appreciated.

[gull]

My advice is don't.

If you really do want to experiment and learn, then start with a play money account and slowly risk a small amount at the beginning.

[BionicComma]

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My advice is don't.

If you really do want to experiment and learn, then start with a play money account and slowly risk a small amount at the beginning.

[/ QUOTE ]

Is there software / a site for doing this?

Basically I have a sum of money that I would like to grow quickly and I am not perturbed by high immediate risk as long as I can make smart decisions in the process.

[kimchi]

Don't bother day trading. You'll get a better return for your money at the casino - and at least they sometimes give you free drinks.

[Jeff W]

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any tips for getting started?

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Yeah. Don't.

[BionicComma]

Well with such sage advice (and thanks for it!), can anyone suggest a method for starting a little investment portfolio? Like I said, I have some money and want to diversify. I'm open for suggestions, I just don't know how to start.

[Jeff W]

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Well with such sage advice (and thanks for it!), can anyone suggest a method for starting a little investment portfolio? Like I said, I have some money and want to diversify. I'm open for suggestions, I just don't know how to start.

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Link

Link 2

Read All About Asset Allocation by Rick Ferri for further information if you like.

[Sniper]

Don't listen to the naysayers... if its something you want to learn, there no reason why you shouldn't educate yourself.

You can start by reading some of the books listed in the Reading list thread linked in the sticky.

Many of the skills you learned to play poker well, carry over to day trading.

[Schatzdog]

Forget day trading for the moment. Learn to position trade first and get an idea for how the game works. Once you are beating the game for good money, think about daytrading. You need to develop an analytical and decision making process first. Do this with end of day charts first.

[r3vbr]

do a course on valuation, another on finance and then consider trading. also watch out for bank fees