Thursday, 23 May 2013

Opening My First Trading Account

Yesterday after work, I went to open my first ever trading account. I was filled with both excitement and anxiety as I walked into the financial centre. The whole place looked so grand and I get the feeling like someday, sometime down the road, I will be standing here, as an influencer, as a leader in the field of banking and finance.

My macroeconomics lesson in university has taught me that nobody knows the market. Even now, nobody know how effective fiscal policies and monetary policies can work. We are in a period of vagueness. A possible influence I could exert in the future might revolve around this exact same uncertainty. As I stand in the financial centre and observe the various banks and financial institutions around me, I know I want to be a part of all that is going on. I want to be at the centre of the market.

I plan to start real life trading in 3 months time. To start off, I will purely be purchasing penny stocks by using the Leeds Analysis, a recent system I read about in a book. I will be doing a book review soon about penny stocks soon after learning so much from Peter Leeds, a distinguished penny stocks investor and one of the most highly subscribed financial professional.

The world of investment and trading is really very fascinating to me. As I continue with my prop trading work, I am slowly getting drawn into the industry. I am learning about things that I never thought I would be learning. I am reading about news and stories and drawing links between different events and how they trigger market reactions. Economic calendars are now not so foreign to me and I can see a huge potential for profits in the market right now, with a depreciating Yen, sharp fall in gold prices and rally in the equities market.

My first trading account will be live soon. I was informed it will take about 5 days to process the application and I just cannot wait anymore. I will however, not be jumping recklessly into the market. The minimum time I will take before jumping in is 3 months. I will need to know the trading platform really well, as well as building on my core knowledge before jumping into the dangerous place known as "The Market".

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