oflores

Hello David,

I would like to thank you for all the information that you have on this site. I am a beginner to this and I have always been very interested on how the market works and how stocks work as well. I recently went to a seminar here in Austin, TX. They are called the Online Trading Academy, from what I gathered is alot of useful information, but they wanted to charge me $5000for a 7 day course week. I'm still skeptical about it, but what do you think? Have you ever heard of them? If I were to eventually get really good at stock trading and I started with a portfolio of 5k what are the odds of me getting to make alot of money? Also would it be better to go to a direct market broker or those broker like Scottrade, Etrade? Is there a difference?

Sorry so many questions and I am definitly filled with a ton of questions. I am really excited to learn all this information.

David Waring

Hi Oflores,

Glad to hear from you and welcome to the community.

Yes I have heard of Online Trading Academy. I have not personally attended any of their courses but from what I know they have a fairly good reputation. From my experience, most if not all of what you learn in these courses which cost thousands of dollars can be learned from reading a couple of hundred dollars worth of books and using sites like this one. So its really a matter of whether a trader wants to pay to have the information organized and more spoon fed to them or whether they prefer to go out and find it themselves.

As for how much you can expect to make trading, please see my video below on setting realistic profit expectations:

Profit Expectations: What Millionaire Traders Know

As for brokers, since you will not be able to daytrade until you have $25,000 the choice of broker is not as important as if you were going to be making lots of trades. With this being said, below is a post where I talk about brokers I like:

New to Trading Which Platform to Use?

Glad to hear that you are exited about learning as that is what we are here for so keep the questions coming as the arise.

Best Regards,
Dave

__________________
My Free Courses: Forex Course - Stock Course - Futures Course - Basics of Trading - Subprime Crisis - Prorealtime Charts

Disclaimer: Trading is risky and can result in substantial financial loss. As always my posts are simply one traders opinion and should not be taken as trading advice. I am not a financial adviser so everyone please do their own analysis and take responsibility for their own trades.

bzmatrix

Hi David,
I have just started FOREX for about 2 months and have lost more than $100K.
It is WAY harder than I thoght and I am lucky I just found your site. I just went through the first lesson and GEE... I DO need help.
I appreciate your support and help. I am going to study and see all the materials you hav on this site and educate myself. Once again THANKS.

David Waring

Hi Bzmatrix,

I am sorry to hear about your loss but thank you for the compliment I am glad you like the site. In addition to the forex course I recommend checking out the money management section of my basics of trading course and Airelon's Intro to Trading course as both these sections are designed to help traders preserve their trading capital. You can find these courses at the links below:

InformedTrades: Learn to Trade Stocks, Forex, Derivatives, and Commodities - Basics of Trading Course

InformedTrades: Learn to Trade Stocks, Forex, Derivatives, and Commodities - Airelon's Beginner Trading Course

Hope that helps.

Best Regards,
Dave

__________________
My Free Courses: Forex Course - Stock Course - Futures Course - Basics of Trading - Subprime Crisis - Prorealtime Charts

Disclaimer: Trading is risky and can result in substantial financial loss. As always my posts are simply one traders opinion and should not be taken as trading advice. I am not a financial adviser so everyone please do their own analysis and take responsibility for their own trades.

bzmatrix

Thank you so much for the sympathy. But I guess I it was the price I had to pay to learn that there IS a learning curve and it is ABSOLUTELY important to educate oneself before getting involve in a RISKY business like this. But I guess because of its nature it COULD be pretty lucrative if one KNOWS what he is doing and there comes your site and your support. I hope by educating myself here I can do better and educated trades. Once again THANK YOU.

David Waring

My Pleasure we are glad to have you and thanks again for the kind words.

Best Regards,
Dave

__________________
My Free Courses: Forex Course - Stock Course - Futures Course - Basics of Trading - Subprime Crisis - Prorealtime Charts

Disclaimer: Trading is risky and can result in substantial financial loss. As always my posts are simply one traders opinion and should not be taken as trading advice. I am not a financial adviser so everyone please do their own analysis and take responsibility for their own trades.

gb41wd

Jay,
IF you're a serious student of fundamental analysis, I would recommend reading "Security Analysis" by Benjamin Graham and David Dodd. Benjamin Graham was Warren Buffet's mentor and recognized as the father of security analysis. I found the book on E-bay. There are several editions, you may want to try to get the most current edition. The classic edition was written in 1940.

MajorDisaster

Hi David,
Another newbie here, just saying hi from Portugal.
Only spotted your site today, and I must say, I'm impressed.
Looking forward to learning about Forex from you.

Thanks

The Major

David Waring

Hey The Major,

Glad to hear from you and look forward to seeing you around the community.

Best Regards,
Dave

__________________
My Free Courses: Forex Course - Stock Course - Futures Course - Basics of Trading - Subprime Crisis - Prorealtime Charts

Disclaimer: Trading is risky and can result in substantial financial loss. As always my posts are simply one traders opinion and should not be taken as trading advice. I am not a financial adviser so everyone please do their own analysis and take responsibility for their own trades.

kannan

Hello David,

This is kannan from tamilnadu, india. I want to become a Professional Technical analyst. What i have to do.. if u prefer any book i will take..or tell me what are all the steps have to taken by me to become a technical analyst. Pls don't ignore this question.. i need a suggestion from persons like u.. again pls give me a suggestion to know the complete picture of the technical analysis.. and pls tell me that is it mandatory to complete the fundamental analysis to begin the tech.analysis