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Hi Guys and Gals:
I'll add my two cents on this thread. If you're getting started you need to paper trade until you
know you can make a profit. Keep your money off the table, put your books on the table. Read
educational books like Trading for A Living by Elder and whatever you can get from Perry Kaufman,
preferably in that order.
When you're ready to trade on paper you'll consider time frame. Beginners should trade off end of
day data. If you want to trade short term off daily bars, fundamentals may not be important except
when evaluating whether or not to fade a news story. Follow a handfull of stocks closely; don't
rely on computer scans. Learn the discipline to exit a trade when the reasons for the trade are no
longer present; that often happens when things change and you've got a small loss to take.
There are many distractions to becoming a good trader. You need to focus on education and
discipline. Two cents.
Best wishes,
James Charles
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