I am looking for the best stock charting software for Day trading, I have used yahoo, stockcharts.com, bigcharts.com and etrade pro. There are others out there, can anyone reccommend one over others and why is it better than others, price, ease of use, capacity features?
Any relevant comments or advice appreciated.
Each function key on your keyboard can represent 12 different chart configurations, so you can look at these 12 different criteria in seconds. As soon as you hit the "F" key, the chart is displayed on your screen.
Did I mention that it has all the industry groups? If you looking at a stock and you want to know how the industry is doing, just switch over to the industry group with a click of the mouse.
All the indicies are also grouped together. You can also download that group of stocks that meet your criteria into a CSV file for importing to XL. I especially like this feature.
The support you get from the Wordens is unsurpassed also, and I couldn't get by my day without reading the daily wisdom from Peter or Don.
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I am playing CNBC's Million Dollar Portfolio Challenge.
I am just looking for quality advice to invest $1 million in the stock market & looking for clean & crisp advice.
Please do not send spam, or links to pay-for-service sites. I just don't have the time for that.
Please provide advice, your answer & maybe reasons behind your answer.
I'm seeking to select 20 stocks today, to either purchase & sell.
I'm not familiar with CNBC's Million Dollar Portfolio Challenge, so I don't know what their investing time horizon is like for this task. Depending on how long that horizon is, I would probably make different sets of choices for your million dollars. Over a longer horizon, I would probably do some research and then pick 20 stocks, $50,000 each, and then let them sit there and do nothing for several months as that is, historically, the best way to get a return on investment. Too much "in and out" of the market would kill you on commission costs alone anyway.
Still if you have the inclination then I will say at least go to a site known as
www.moneycontrol.com . This is free site and has a huge message board . Lot's of advise for free. By the way this site is run by CNBC .
For example, I have level II access but how do I "follow" major movers when they purchase or sell shares. Do I have to just sit and watch Level II all day and watch for large blocks to trade? Many traders investment advise on message boards is to "follow the money" or "follow the major movers". How does one do this? Level II is great for retail investors but these large cap equities come in quickly and buy or sell? What gives? Thank you.
I am playing CNBC's Million Dollar Portfolio Challenge.
I am just looking for quality advice to invest $1 million in the stock market & looking for clean & crisp advice.
Please do not send spam, or links to pay-for-service sites. I just don't have the time for that.
Please provide advice, your answer & maybe reasons behind your answer.
I'm seeking to select 20 stocks today, to either purchase & sell.
I'm not familiar with CNBC's Million Dollar Portfolio Challenge, so I don't know what their investing time horizon is like for this task. Depending on how long that horizon is, I would probably make different sets of choices for your million dollars. Over a longer horizon, I would probably do some research and then pick 20 stocks, $50,000 each, and then let them sit there and do nothing for several months as that is, historically, the best way to get a return on investment. Too much "in and out" of the market would kill you on commission costs alone anyway.
I heard there are groups of people that get together to share information, buy & sell stock, etc. etc. Any idea where I can join a group in Los Angeles, CA.?
Some good places online to share info with others and learn are;
investorshub.com (my favorite)
siliconinvestor.com
ragingbull.com
many boards are devoted to trading at the above sites. you can sign up for free memberships at all 3. Ask the traders on the trading boards what software they use.
I have been a trader, investor, broker, etc. and it is rare to see anyone who is not a professional trade for a living. If you got it, then you will know pretty soon. You have to be able to set your stops, take your losses if needed.
Also read "trading for a living" "come into my trading room" both great books from Alexander Elder.
If you are trading stocks listed on the Big Board, then you have to note that the specialist can often take a few minutes from the opening bell before filling orders. If it is a NASDAQ-traded stock, then a market maker may take a minute, or it will execute automatically (though keep in mind that if your order is in before 9:20am Eastern, you are assured the opening price). Either way, you might as well let your order be for the first few minutes of trading. Further a specialist or market maker is NOT obligated to let you out of a pending cancel if the order is due a fill. It would be a courtesy only.
The only other issue is whether your order is actually even due a fill at all. If you are offering stock at $25.75, and someone else is offering $25.70, then you are not even due an execution until the stock at $25.70 has sold (as well as everything in between there and your order). Make sense? So you want to see where the stock is offered before fretting about your own fill.
If you are the offer, then you may need wait to see whether anyone wants to trade with you at the level you specify.
Hope this helps.
Even if you do not open a margin account, day trading in a cash account is generally prohibited. Day trades in a cash account can occur to the extent settled money is used and the trades do not violate the free-riding policy of the Federal Reserve Board governed under Regulation T.
Hope this answered your question.
Traders (scammers) accumulate a large amount of shares, then hire a stock promoter to "pump" the stock with spam faxes and e-mails. (I get 2-3 faxes per week hyping xxxx.ob or xxxx.pk) As the stock price rapidly rises, the original investors sell into the pop (the "dump"), netting a nice profit (at the suckers' expense). The people who bought at the top can't get out, because the liquidity dries up after the scammers dump the stock.
Look at the fine print of the faxes. Stock promoters are paid $50,000-$120,000 to send out a report, so there is big money at stake for the scammers! A lot of times, the company does not even know that this is going on, and get a lot of angry phone calls for something that they didn't authorize.
This is why you should stay away from bulletin board or pink sheet stocks, unless you know the company really well.
$3000 is too high a cost to pay to learn what's all free and available all over the net.
Go and download the "OPTIONS TOOLBOX" and play with it. Everything you need to know is there.
You can get this from http://www.cboe.com/LearnCenter/RCTools.aspx
Explore CBOE – Chicago Board Options Exchange, for wealth of free information on options. There you have links to other sites too – Options institute etc.
Buy the book – Options as a Strategic Investment by Lawrence G. McMillan, for lot less than $3000 ( think it's $50 at Amazon.com )
p.s.
Mr.DowJones assessment that Option trading is riskier cannot be more wrong. On $ for $ basis, with respect to Risk & Reward, stock trading is lot riskier than option trading. Options goal is to minimize risk and maximize reward. No such thing with stock trading