Joining the stock market.. (newb)

[nostinkinc]

http://www.investorshub.com/boards/board.asp?board_id=2723

[timhyma]

One more- don't want to overload ya yet, lol.
http://www.investorshub.com/boards/read_msg.asp?message_id=1375359

[timhyma]

Another post that I saved-
http://www.investorshub.com/boards/read_msg.asp?message_id=2561702

[timhyma]

This post may help some-
http://www.investorshub.com/boards/read_msg.asp?message_id=1321213

[Ocuri]

Permanent Premium Member...

I forgot to add that at this point I am enjoying a free 2 week trial as a premium member. I am wondering what the monthly fee is to become permantly premium.

[Ocuri]

Already 3 posts, thanks guys, althought some information has been simple and direct, it has helped as I am still very clueless in this. Thanks for the posts and keep em coming, I will look into everything that has been posted so far.

I was aware of the mistake people make by getting into it in a hurry so that's why I am posting in a place like this and I want to make some research before beginning to do anything at all. I know 3000$ isn't very much, but i have to start somewhere and at 19 years of age, you cannot expect me to provide much more than that :s :(

[timhyma]

Question: Can anybody help me on starting in the trade market? School is expensive these days and I am looking for some extra money, I would have about 3000$ to invest and I want to do it right. Anything can help, perhaps any book suggestions for trading in the canadian market or even first hand advice for this starting newbie.

I recommend starting by establishing goals. What are your expectations from the market? How much risk can you tolorate? With $3K, you don't have a lot of manueverability. So, look at the stock you want to play, develop a plan for entry and exit, then paper trade it to see if it works. Do this a few times- make sure your "system" works before dropping a dime. Most mistakes are made by folks getting in a hurry.

A couple things to establish, before you buy a stock:
Timeframe you are willing to wait/hold
Amount of risk
Percentage you plan to win from the trade
Stop loss area, in case it goes against you.

Some good boards in the Ihub community. We have several Canadains on the BTS board that can help you on those markets also. A lot of us have been trading for a few years.
http://www.investorshub.com/boards/board.asp?board_id=865

[Sizzler]

HI
I too am fairly new to the market. I trade the US market from the UK which has it's problems at times. I knew very little when I started but have done loads of reading and learnt stacks. Two books I would recommend are by Toni Turner, one is 'A Beginners Guide to Day Trading Online' the other is 'A Beginners Guide to Short-Term Trading' both available on Amazon. Another book I've just got is Steve Nison - Japanese Candlestick Charting Techniques- bit expensive at £80.00 but probably the best of its kind.
I'll probably hang around here a bit to share what I've learnt and learn from others too, so talk with you soon. Although my knowledge is limited, after learning from others online I'm more than happy to offer my opinion.
Cheers
Sizzler

[Linchuck]

Let me start off by saying I wish you the best of luck. I saw you had a new board and something you will learn over time is be careful what you read on message boards. Some people are very honest and some are not so honest trying to get you to buy a stock they are looking to dump. I don't know how much reading you have done but there are boards with links all over the place on IHUB. I will point you to a couple of boards that have some really good links of reference. Although one board may not be your style of trading, there is still very good information there. There are different styles. One is holding, another is day trading. There are times you can buy a stock and make out great in a day. Sometimes it takes longer. It all depends what you are looking to do. I will also direct you to a board that I use, you can feel free to stop there. It doesn't have much information and we don't have alot of posters, however it is a more personal board. That is the Wise Investment board. But I will list the other ones and links to them by name for you...Feel free to stop buy anytime and I wish you the best...

Breakout Trading
http://www.investorshub.com/boards/board.asp?board_id=2059

BB's Penny Haven
http://www.investorshub.com/boards/board.asp?board_id=2199

Swing trade board
http://www.investorshub.com/boards/board.asp?board_id=1781

The Daytrader's Station
http://www.investorshub.com/boards/board.asp?board_id=2723

The chart board
http://www.investorshub.com/boards/board.asp?board_id=2024

And last. Our board called Wise Investments.
http://www.investorshub.com/boards/board.asp?board_id=1056