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Weekly Trading Podcast Episode 2

In podcast on 26 August 2009 tagged , , with 2 comments

Episode 2: How I Would Start My Trading Journey

 

Click here to download this podcast!

Cheat sheet:

  • Read beginner books. Go at your own pace, think about things, feel free to dwell.
  • Get a notebook, write down observations about the market, ideas you have, or concepts you’re coming to terms with.
  • Pick one or two market phenomenons and focus on finding an explanation. No one reason my exist, and it will take a long time before you ‘work it out’, but keep trying anyway. Work towards becoming a master at a particular phenomenon.

  • Keep coming back to ideas and never accept your original, 2nd draft, or even finished copy hypothesis as fact.
  • Get an el cheapo tick watching set up, Interactive Brokers + Ninjatrader is perfect for this. Freestockcharts and finviz are also useful.
  • Read blogs and news sites frequently.
  • Work on one of three skills: quantitative statistics, programming, financial mathematics.
  • Read every pro-trader interview you can get your hands on. Develop a sense for why some things they say are wrong and what is right.
  • Read all the documentation associated with your trading platform. Use google and the software message boards to work out hacks and ideas for better utilising your software.
  • Learn how to back test strategies, even very basic ones like MA Crossover systems.
  • Paper trade until you’re 100% professional about how you approach trading.

    • 2 Comments

    Great blog. The first two podcasts had some great information for beginners. I look forward to hearing some of your advanced audio though. I have been studying trading, finance, business, real estate, etc for years now. My stack of books to read is so high that Im beginning to think I will never complete them all in my lifetime!

    Anyways, I bookmarked your site and look forward to checking it every week.

    Posted by Matthew on 27 August 2009 @ 1am

    Thanks for the support Matthew. I too have an endless supply of books that need love, I think I might schedule a good reading session tonight!

    Posted by admin on 27 August 2009 @ 5pm

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    @brianbrownstein another great show, good vid picks, thanks for scorning liverpool, us red fans need you media guys to vent! 2010-01-19

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