How do you turn a thousand to one million by trading?

Answer 1

There are A WHOLE LOT of books abuot trading. You can do a Google search to find out what the titles are and where to buy them. As far as getting an answwer in this forum is concerned, the chances of having someone provide you with THE answer YOU are looking for is very remote. I'll give you my opinion and what I'm doing - along with hundreds of thosands of others. You'll have to come to your own conclusions. In the beginning "newbie" traders & investors DO NOT INVEST any money. It probably won't be long when you'll feel you're ready to invest your hard-earned money. Before taking that step, you really should do research about what you are investing in. You should LEARN HOW: A] the Stock Market works. B] to invest in many, many various ways. C] to properly trade D] Properly manage the money in your trading account. "Newbie" investors & traders ALWAYS make mistakes. In fact, throughout a person's trading hobby, avocation or career, he/she makes mistakes. In the beginning, you READ & LEARN about the market & how it works: Read "Investing for Dummies" As you read & do research about the investments you are interested in, sometimes you'll come across a financial or investment term you never heard before. Use an on-line investing site or an investment dictionary. There are also free sites where you can set up a virtual account & almost trade as though you were trading with real money. Since Google is providing the ads for this site, you can do a google search for those. There are quite a few of them. You might want to try a few different virtual trading sites, THEN make your selection. A SIMPLER WAY TO TRADE:

This is what I learned about the stock market and trading:

1] I read a little about the overall market and how it works. I read about different aspects: mutual funds, currency, commodities, stocks and options.

2] I asked Qs of my coaches and mentors; suggestions were made to me.

3] THEN I read and studied about those areas which interested me.

4] I concentrated on those areas which interested me and which fit the amount we had to work with.

5A] For those strategies I felt comfortable with, I developed trading rules. For those strategies I didn't know anything about, I developed some trading rules.

5B] I discovered I only needed trading rules for 4 to 6 trading strategies.

6] Using those rules, I paper traded.

7] When trades went against me - when I lost money - I adjusted or "tweaked" those rules for that strategy.

8] I paper traded - again and some more.

9] I made further adjustments.

10] I'll admit I didn't do enough research for the right broker for our trading needs, wants or desires. However, the one we decided to go with is OK - but not the greatest AND definitely not the least expensive. Yet, the actual trading account was opened:

As a speculator, with margin, with the approval to trade options.

11] Yes, it was VERY scary AND I was VERY apprehensive: BUT, I MADE THE BIG JUMP: Going "live" - in-the-market - with real money. I lost some money. NO ONE ever succeeds in each and every trade 100% of the time.

BUT I didn't use the entire amount of the account's money on one trade. I learned AND I lived to trade another day. AND I continue learning and living to trade other days.

AND YES, I STILL have some losing trades. BUT my winning trades are A WHOLE LOT more than the losers.