Advice plzzzzz!

[SouthBayRider]

Im currently a mechanical engineering student in southern california and I have always been interested in finance, the stock market and investments. I have really been interested in becoming a trader for quite some time now but not really sure how to go about to start off. Should I try to shadow a successful trader, get a job at a bank, play for a teaching seminar? Any advice would be greatly appreciated. Thanks in advance!!!

[Clint]

First of all, this site has nothing to do with the stock market, and it has nothing to do with investing.

This site is all about speculating in the foreign currency market. Speculating means buying something with the express purpose of selling it later for a profit; or, alternatively, short-selling something with the express purpose of buying it later for a profit.

In forex, which is what we’re about here, what we buy and sell is currency pairs (one currency which we are buying, paired with another currency which we are selling).

If this interests you, then your next two steps, in my opinion, should be:

[B]1.[/B] Study the Babypips School (click the School tab at the top of this page to get started). Go through the whole School, to learn what forex trading is really about. It’s free. But, be prepared to devote a lot of time to studying this subject (you’re a student — this should come naturally to you).

[B]2.[/B] Get a Demo Account from a major broker. A demo account is a downloadable program which links you to the same price feed that real accounts are linked to, and lets you “play the market” with play-money, and no real risk. Demo accounts come with built-in charting packages, so you can see, and do, in real time what you are studying in the Babypips School. Take your demo account seriously. Don’t treat it like a video game; instead, treat it like a flight-simulator which you are using to learn how to fly.

Don’t pay money for anything at this point — isn’t college expensive enough? There’s enough free stuff available to you right now, to keep you busy for the next two years.

If you do the two steps suggested above, you will soon know whether forex trading is for you. If you decide that it is, then your education will really begin. And it won’t ever end. It will be a life-long endeavor.

But, first things first. Click on the School, and get started.

[Witwolf007]

First of all, this site has nothing to do with the stock market, and it has nothing to do with investing.

This site is all about speculating in the foreign currency market. Speculating means buying something with the express purpose of selling it later for a profit; or, alternatively, short-selling something with the express purpose of buying it later for a profit.

In forex, which is what we’re about here, what we buy and sell is currency pairs (one currency which we are buying, paired with another currency which we are selling).

If this interests you, then your next two steps, in my opinion, should be:

[B]1.[/B] Study the Babypips School (click the School tab at the top of this page to get started). Go through the whole School, to learn what forex trading is really about. It’s free. But, be prepared to devote a lot of time to studying this subject (you’re a student — this should come naturally to you).

[B]2.[/B] Get a Demo Account from a major broker. A demo account is a downloadable program which links you to the same price feed that real accounts are linked to, and lets you “play the market” with play-money, and no real risk. Demo accounts come with built-in charting packages, so you can see, and do, in real time what you are studying in the Babypips School. Take your demo account seriously. Don’t treat it like a video game; instead, treat it like a flight-simulator which you are using to learn how to fly.

Don’t pay money for anything at this point — isn’t college expensive enough? There’s enough free stuff available to you right now, to keep you busy for the next two years.

If you do the two steps suggested above, you will soon know whether forex trading is for you. If you decide that it is, then your education will really begin. And it won’t ever end. It will be a life-long endeavor.

But, first things first. Click on the School, and get started.

Couldnt have said it better myself, i am currently o the same Path, just keep on keepin on.

[rhodytrader]

@Clint

There’s enough free stuff available to you right now, to keep you busy for the next two years.

And therein lies the big rub. So much information. So much time trying to sift through it. So little knowledge about the sources of that info and the motivation of those behind it. That’s why I was encouraged toward my latest book project, an FAQ for new and developing traders. Forums like this are good for specific information, but not as good for general learning, especially at the introductory level.