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I'm 17 and I want to start day trading, where do I start and how?

  • I really want to start day trading so It teaches me about the global stock market and help me on my path as I am studying for a future career in the London Stock Exchange. The whole thing really interests me but the sad thing is I know nothing about it and I am really keen to learn. My father has worked with investment banking and I told him my situation and the whole stock exchange is a gamble. Answers in the most basic detail will be very much appreciated.

  • Answer:

    You need to be 18 to open an account but that gives you time to learn the basics first. Do not run before you can walk, day trading is not for beginners and is the fast way to the poor house for anyone that dives straight in. Try virtual trading first as it will help you learn quicker but with out the risks. Spread trading is available here in the Uk and can be a way of investing in small stakes as there are no brokers fees or taxes involved but again you will need to be 18 so learn the basics first with virtual trading.

Matthew Hobson at Yahoo! Answers Visit the source

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Suck all the knowledge you can from your Dad. Nothing beats years of experience. Figure out what and how you want to day trade, ie. What strategy you want to use: Then perfect it before actually begin using money. Think or Swim has a nice little program one can use with a fake account. Day Trading Strategies: http://thepennystockblog.com/blog/day-trading-strategies

keithsan

day trading? you need 25K min... in order to day trade unless you wanna day trade forex... if your dad is in investment banking i recon your spoiled and get what you want... in that case.. i dont think you have the right mindset for trading.. you will blow up an account.. you will want to give up.. and if your spoiled you will.

1. Ask dad what the minimum age is. In the US, it's 18. 2. Tell dad where you will get your seed money from. Day Trading is a form of gambling, so only money you can afford to lose should be used. This money is coming from what? Summer jobs? How much did you save?

Quick Answers

if you want to learn how to trade, it's not easy. maybe you need to start to invest a little and see how it works, to make 5% to 20% per month, you can search in google for solidforexmanager

Saver

you will have to wait until you are 18 to trade for real but you could ask your dad to open a virtual account for you to practice with.

Frenela Pantworthy

Your dad has worked with investment banking? Keep pestering him. He's the person that will guide you the best

Go with the flow

Start during daylight hours and use the PC.

Adam Karrsen

You cannot do it in the UK until you are 18.

Kernow Lady

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