Day Trading

I have been to two teaser seminars, one because it was right down the street and the other because I needed to a vacation anyway. It was on O'ahu. *vacation not a big thing I live on the Big Island*

One was going to teach me to day trade with charts and statistics and graphs and Ouija boards and a gypsy with a crystal ball.

The other promoted a software that would pick stocks ready to break out.

The problem with the first is you would spend all your time charting and mapping and whatever. Trading happens second by second. You don't have time to chart anything.

The other might be fine for investing. But a trader doesn't need to know a stock is ready to break out. A trader needs to know the instant it is going to happen and no software will tell you that.

I do trade. Most of my trades are in DOW stocks. On any giving day,most have a nice daily spread of about a buck and a half. Sometimes it will be much more.

In trading the DOW, I have a very good indicator of where to be. Now I will not get rich doing what I do. But by trading blue chips I minimize my potential for loss. I can always move a good stock into my true investing account, knowing it really will come back

The market travels up and down more because of emotion and greed than it does true financial data.

With brokerage fees being so low you can trade on a twenty-five cent rise. 500 share up .25 is $125. You can do it several times a day. I traded the same stock Monday three times, put the money in the bank and was on the beach by 9AM…. market opens early in Hawaii

I don't believe anyone can teach you to trade. Your best bet is to try it with play money for a long time before you put up real cash. There are many virtual sites around.

When you do decide to trade, make sure your brokerage firm has level 2 NASDAQ quotes and then learn to use them.

As to forums, I have never had much luck with them. I use Scottrade, with there Total View they have active trader alerts. I had a good look over several days and decided it might be good for them for me to trade their picks but would not do me much good.

Also if you are an active trade you will get marked as a pattern day trade, make sure you keep enough in the account. You also should have another account for investments.

Good Luck and Good Trading