sharetrader
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  1. #2
    Senior Member
    Join Date
    Apr 2013
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    Pourquoi?
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    Quote Originally Posted by Cricketfan View Post
    Apologies if this has been asked 100 times already (if there's an existing thread that covers this, let me know!).

    Anyway, having recently quit my full time job, I have a lot of free time on my hands while waiting for another role to come up so I thought I'd spend some time learning how to trade (as opposed to investing, which I've been doing for the last few years).

    There are so many books and websites out there on trading, I don't know where to begin. I came across a recommendation for Daryl Guppy's books which seem good, but even he has many books to choose from! I'm willing to spend time reading and learning before I get stuck in and make my first trade, but I'm wondering how much learning I would need to do to get to that point.

    So for you seasoned traders, if you were starting from scratch with knowledge about investing in shares, what would your steps be to become a trader, and what timeframe would you be looking at before making your first trade (assuming you could spend your days doing this)?

    Thanks in advance, and apologies again if this is in a FAQ somewhere.

    PS My plan would be to trade within the NZX only at first, to keep tax simple.
    Short answer: Don't.

    Slightly longer, around of retail 99% "traders" fail due to lack of skill (There is also adifferenc between day and monthy trading). If you think you are in the 1% then my advice is read up and invest overseas. Youy wont be able to day trade in NZ due to liquidity etc. Maybe you can do the Forex market from NZ but that an entirely different skillset.

    I would suggest sticking with "investment" and learning it properly.
    Last edited by Schrodinger; 31-03-2017 at 10:02 AM.

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