Choose your weapon

Updated: Nov 9, 2020

Before embarking on your journey, make sure you are fully equipped to handle the challenges ahead.

Note: I mainly trade the US markets so recommendations will be based on brokers based in US.

First off, choose your broker.

My recommended trading platform will be Thinkorswim, this is a trading platform by the company TDameritrade.

Pros:

  1. They have a really intuitive platform, a quick tinkering will be sufficient to get started, everything is aesthetically placed and easily identifiable.

  2. Commission free! Hurrah! Well at least for stocks, options wise there is still a minor fee. Compared to some local brokers.. charging you $25/trade, yeesh!

  3. Charts are easy to read with plenty of indicators/studies.

  4. Have an office in Singapore (where I’m from).


Cons:

  1. Customer service not the best, slow replies at busy times.

  2. Opening an account with them takes quite a while.

A few alternatives:

  1. Interactive Brokers

  2. Saxo


Okay, once you’ve chosen Charmander. Lets move on to the next equipment, KNOWLEDGE.


I can’t stress this enough please have a basic understanding of investing/trading before you actually take your hard-earned money and donate it to Mr.Market. Trust me, he doesn’t need your charity, he eats weak investor and traders for breakfast.


BEWARE:


I’ve seen personal acquaintance lose money because they invested in x company because someone told them so...


Now, if you have been poking your nose around you’ve likely come across advertisement of “gurus” offering you to join their free masterclasses, which more often then not ends up as a sales pitch for their course worth $100k but only for today selling at $5k. I won’t say that all courses are bad, I’ve attended my fair share and paid my dues, in hind-sight probably only two out of the courses I’ve taken was truly worth it.


So what I’m trying to say is although knowledge is key to be profitable in the markets don’t pay for courses that cost a limb or two. Now you might ask okay.. so what should I be looking out for?

  1. Price: $200 - $3,000, this is the range that you should be looking at anything more that promises some miracle indicator is likely to be a waste of time, money and emotions (mainly anger).

  2. Teaches you about fundamental analysis and technical analysis.

  3. How to trade using options.

  4. Doesn’t promise you crazy returns or call themselves millionaire mom... I’m actually a thousanaire boi.

  5. Has a community of students that is actually active.

  6. Keep on reading my blog, shameless

  7. Join my telegram group chat, shameless x2

Now then head to Pewter City.


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