launchcodemexico

Sevensa: Thank you. Your rather short comment not only teaches me about the limits I'm up against, but the mentalities I'm contending with. I know I want to see net positive returns in the least time possible; over many gains and losses of course. I'm not sure what the reasonable metric is for a beginner like me and maybe others can chime in. A few cents a day? A few dollars a week? A few pennies a month? A few dollars every 3 months? Or would this vary, completely determined by my personality and experience? The shorter the evaluation time the better of course. Rectav: This could be a few lines so I hope some of you will stay with me. My current knowledge and feel for the markets, is probably that of the general public: I enjoy the news, paying attention to global dynamics, keeping channels like CNN or CNBC on 24/7, etc. So I have this broad feel of the trends hypothetically suited for general long term low-risk investing; run of the mill Mom n' Pop type Investor trading. If I were to classify and prioritize my familiarity with the markets it would probably be something like this: 1. Popular Tangibles (real physical products) and Technology 2. Commodities (tied to products) 3. Popular Service products (credit industry, etc.) 3. Intangibles (ForEx, futures, funky indices of all sorts, etc.) But with only 5000 to start with, I feel any stock that I even think I know anything about (popular ones like Nike, Google, Visa, oil, gold, etc...) will just be too expensive for me to learn anything substantial before I blow my bankroll. I really want my 5000 initial capital to last as long as possible, so I'm perfectly happy making pennies as long as I'm making more than I lose, and that knowledge can eventually be scaled up to dollar amounts. I'm not a rich individual by far, and this money was a gift to me which I'm using for educational purposes. So I'm not here to make money just yet. I also want to familiarize myself with the mechanics of trading as fast as possible (stops/limit orders, shorts, etc...), and long term trading just won't teach me enough in a short enough amount of time. I need routine daily practice. One thing I know for certain is that I have an obsession over trends of any kind (economic, socio-political, ones that exist in pseudo-virtual game worlds, or even fashion) which I think many of you can relate to. So independent of what I may know about a market, I will endlessly pore over the numbers, and research, just to test if my forecast was correct, which theoretically can also suit me for shorter term swing trading or even day trading; which I think is what fits my needs and limitations at the moment. From what I hear about day trading, it's essentially as much about playing the traders themselves as it is the market values.

This is exactly the type of sobering advice I was looking for and I want to thank everyone for their input. Any suggestions for a Canadian online broker and/or good tools (simulators...etc.) on the internet for me to get started? I hear some sites don't offer very comprehensive features, or even real-time updates. Good graphing tools, for example, and fast real-time updates are crucial to me.

Hi, I live in Vancouver, BC Canada and I'd like to start trading with an initial capital of 5000CAD, for just a little extra income on the side. My goals are: - to learn market movements and trends - 25.00CAD net profit a day (after commissions or any other assorted fees) - or 500.00CAD a month; no more, but definitely not less-liquid. I'm looking for advice on: - markets I should examine - if my goals are realistic for a beginner - which online broker should I use? (Questrade, Trade Freedom, Scotia iTrade, Interactive Brokers, etc.) I plan for this to be a serious daily routine for me, and not something I'll be doing for fun on the side. I do have a degree in Economics, but I don't use/practice that knowledge at a professional level; yet. I hope my goal is modest enough and 5k will be sufficient to start with, but if not, where should I begin? Advice is duly appreciated.