Rhody Trader

One of the many things I have on my plate (probably too many things, to be honest) is  the development of a new book project aimed at answering all the most common questions new traders ask. I answer a lot of questions on my trading education blog, on the forum sites I hang out at, via email, and in seminars and other discussions. While some of them are specific, many are variations on the same basic set of questions that most folks have at one point or another during their development. A while back I decided to put them all into one place as a handy reference source, with answers of course.

I’m most of the way through collecting the questions and providing answers to them. My hope is to have the book completed early this fall.

This is not a solo project, though. While I can answer all of the questions I intend to include, I’m not necessarily the best source for many of them. Also, I only have my own perspective based on my own experience in the markets. It might not be quite the right one to best answer the question on the mind of a specific individual. With all this in mind I’m bringing together a group of additional contributors to provide additional depth and expertise to the question answers. I’ve got several commitments to take part already, but will continue to look for others who can add value to the project. The more the better, as far as I’m concerned. If you are someone with a goodly amount of experience in the markets, and would maybe like to take part, let me know.

Here are the questions I have put together so far. If you have suggestions for any additional ones, definitely leave your suggestions via comment below.

Staring Points

How is trading different from investing?

Why should I trade rather than just invest?

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The Biggies 

How much money can I make trading?

When do I know I’m ready to start live trading?

What books should a new trader read?

Should I quit my job and trade full-time?

Only professional traders make money, right?

Do I have to accept some big losses in the beginning?

How long does it take to make a stable income from trading?

How do I start trading?

How difficult is it to trade?

What is the percentage of people who succeed in trading?

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Trading Education

Is it worth spending money on educational resources when there’s so much free stuff available?

If you know so much, why don’t you just trade?

How do I avoid scammers?

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Markets & Instruments

What is the best market to trade?

What’s the safest market?

What should I trade?

Is forex trading a scam?

Is it better to trade spot forex or currency futures?

Should I avoid trading over the holidays?

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Mechanics

What is leverage and margin in trading?

How much money do I need to start trading?

Is live trading different than demo trading?

What’s the difference between a stop and a limit order?

Where does the money I make in the market come from?

Do I have to pay taxes on my trading gains?

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Analysis

What’s the best indicator?

Which type of market analysis is better?

What is technical and fundamental analysis?

Why didn’t the market rise on the positive news?

What is Support and Resistance?

What are the differences between discretionary and system traders?

What timeframe charts should I look at?

What charting package and/or data feed should I use?

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Trading Systems

How can I create a good trading plan?

How do you backtest a system?

Where should I put my stop?

Should I buy this system?

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Trader Psychology

How important is psychology in trading success?

How can I overcome my fear when trying to pull the trigger on a trade?

Why can’t I follow my trading system?

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Brokers

What’s the best broker?

How should I select a good broker?

Is my broker trading against me?

Is my broker running my stops?

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Jobs

How do I get a job trading?

What types of trading jobs are there?

What’s better, an MBA or a CFA?

What kind of program should I do at school to get a trading job?

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