Immersed In the Stock Market
January 21, 2008 by Trader Rich
For the past week or so since I mentioned that I was thinking about getting into trading stocks again, I’ve been immersed in the subject. Initially it will take a little focus off of forex until I can balance the two. I realize I have a lot to learn about the stock market with its multiple exchanges, multiple industries and thousands of securities.
Right now might not be the best time to go long on any stocks considering the hit the market has taken but I also figure that it may be the best time to learn. I’ve heard too many times how people have successfully traded during the "good times" when the market is flying high (e.g. dot com) only to see them lose it all when the markets turn sour.
Like I said, there’s a lot to learn but I’m going to concentrate on reading and getting organized. I subscribed to the Kirk Report’s members only site because I’ve followed Kirk for years now and have always respected him. For only $50, there’s a lot of information that he provides that can benefit me. I’ve always been interested in his methodology and how he uses fundamental, technical analysis, and stock screening of off the beaten path stocks.
Although I’m getting more interested in the stock market, I will continue trading Forex. Becoming a successful forex trader will remain my primary objective. We’ll see how all of this goes. It’s hard enough finding enough time in the day to write on this blog.
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Rich,
Is it true that you need to deposit at least $25,000 to day-trade stocks? I once was also interested to start trading stocks but this requirement got me off the track. Frankly, I never took time to re-check this through other sources.
Thx. Alex
Alex, I’ve heard the same but I’m not thinking about day trading…. I’m thinking about trading the daily/weekly charts. Who know for sure at this point…