Your Questions About Successful Trading

James asks…

What are some good aspects of a successful trading card store?

I have been thinking about opening up a trading card shop for a while now. I only collect old pokemon/yugioh cards now, so I’ve really never been to any tourneys or very many card shops. So, in your opinion, what are some aspects of a good and successful card shop? Also, if you have any other tips, let me know! Thanks!

John answers:

In Fairfield, Iowa, there is Finnywicks, mystics,and the kobolds corner and you can also find them at wal-mart

Paul asks…

How can I become successful in commodities trading system?

I want to become successful in this business. Have you any tips to share?

John answers:

Very difficult. Far easier to simply avoid loss by not trying to get into it.
Thats the best advice I can give. If you have to ask for help here, you are SOL already.

Laura asks…

Anyone working on Wall Street out there?

Is it hard to get fired to be an equity trader on Wall Street without a college degree? Which firm can hire me and sponsor for my Series 7 exam? I trade at home. I can show them a record of my successful trades.

John answers:

Not only is it hard to get hired as an equity trader on Wall Street so that you can work at home, it is not legal especially for somewhat who has no brokerage experience.

There are many stockbrokers that work from home or other offices, but such people are closely monitored and must abide by all company policies & procedures and are subject to periodic company review.

Regardless of how successfull you records are for trading, no respectable brokerage firm would ever hire a new “trader” to work in an unsupervised enviroment, so that he could trade for customer accounts. Hiring such a person would be in violation of several Exchange and/or Association rules and regulations

Joseph asks…

How to trade stocks using Price as an indicator?

I always hear people talking about using price as a great method to trade stocks by, could someone explain some methods?

I am always looking for new methods to trade and would like to learn as much as I can about some techniques using price.

Please feel free to go into depths and provide links.. Thanks to everyone who contributes, I appreciate your help!

John answers:

What you’re talking about is Technical Analysis.

Price is not an indicator. Indicators are derivatives of price.

Moving averages, momentum indicators, fibonacci levels are all used as indicators to trigger an entry or exit when price moves to a certain level.

Here is a good reference for definition of finance terms.

Read all you can, develop a plan, then test your plan on a simulator before trading away your hard-earned money.

Http://simulator.investopedia.com/

Books
“Which Is Better, Buy-and-Hold or Market Timing?”

“Do You Have What It Takes to Be a Market Timer

Droke, ClifTechnical Analysis Simplified

Kahn, Michael N.Tech. Anal. Plain & Simple

Kamich, Bruce M.How Technical Analysis Works

Lefevre, Edwin – Reminiscences of a Stock Operator
about Jesse Livermore

Lofton, Todd – Getting Started in Futures

Lowenstein, RogerBuffet (Warren)-The Making of a Capitalist

O’Neil, William J.How to Make Money in Stocks

Oz, TonyHow to Make Money From Wall Street

Rotella, Robert P.Elements of Successful Trading, The

Schwager, JackStock Market Wizards

Schwager, Jack D.New Market Wizards

Sperandeo, VictorTrader Vic-Methods of a Wall Street Master

Wasendorf, RussellAll About Futures

Slutsky, Scot and Darrell JobmanComplete Guide to Electronic Futures Trading, The

Extraordinary Popular Delusions and the Madness of Crowds” by Charles Mackay

The Intelligent Investor, by Benjamin Graham

One Up on Wall Street, by Peter Lynch

Common Stocks, Uncommon Profits, by Philip A. Fisher

Stocks for the Long Run, by Jeremy Siegel

Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea

Trading for a Living, by Alexander Elder

From Riches to Rags, by I.C. Freeley

Millionaire Traders, Lein & Schlosberg

Mandy asks…

What is a successful business to open as a stand on the corner of a main street?

In other words, what product is successful to sell in los angeles.?
Example: flowers, jewelry, keys… etc.

John answers:

Anything that a lot of people want that is pretty light and takes up little space
Jewlery and flowers are good.
Also, consider ipod cases, snacks, trading cards/collectables, t-shirts, hats, watches,books, etc.
The key is to make sure you have unique items, cheep prices, you are near a lot of tourists, or you are at a conveniant spot where people willl want your items without the hastle of a store.

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