Day Trading

I'm not sure a class can teach you, I think you just have to learn through experience. The hardest thing to learn is to quickly get out of a losing stock and preserve your money and look for another opportunity. it sounds so easy but it is very hard to do because you always think you are going to make money and never lose money. but I'm getting much better at it. I made $350.00 today in just a few hours.

Trade first on a simulator to test your theories at Investopedia.com

When you start making "virtual" money, then you can risk your own.

http://simulator.investopedia.com/home.aspx

http://investopedia.com

http://investing.sitesled.com/

http://futures.tradingcharts.com/learning/

Blogs

http://winners-and-losers.com/

Training & classes

http://bettertrades.com

http://investedcentral.com

ETF news and analysis

http://ETF-World.Org/

Article: Trading is Timing

http://www.investopedia.com/articles/trading/06/TradingisTiming.asp

Stock Charts

Bigcharts.com

http://www.stockTA.com

http://www.stockcharts.com

http://www.incrediblecharts.com…

www.prophet.net
americanbulls.com

Books on Investing

"Which Is Better, Buy-and-Hold or Market Timing?"

"Do You Have What It Takes to Be a Market Timer

The Beginner's Bible in Technical Analysis is:
Edwards & McGee"Tech. Anal. Of Stock Trends"

Droke, ClifTechnical Analysis Simplified

Kahn, Michael N.Tech. Anal. Plain & Simple

Kamich, Bruce M.How Technical Analysis Works

Lefevre, EdwinReminiscences of a Stock Operator

Lofton, ToddGetting Started in Futures

Lowenstein, RogerBuffet (Warren)-The Making of a Capitalist

O'Neil, William J.How to Make Money in Stocks

Oz, TonyHow to Make Money From Wall Street

Rotella, Robert P.Elements of Successful Trading, The

Schwager, JackStock Market Wizards

I'm not sure about specific courses but here are some links to websites that are known for proven stock and option trading tools. They have some courses you can sign up for.

www.investools.com

www.shadowtrader.net

www.thinkorswim.com

Go read some online articles that compare the main platforms. Just do an online search for "online brokerage comparisons" or something like that. I reccommend Scottrade as the trades are about as cheap as you will get. The downside is their margin rates are above average and I've seen mixed reports on their speed of filling trades. Still for me, they are perfect (but maybe not for you).

Etrade is supposed to allow you to trade on 4 or 5 stock marktes around the world – a huge advantage for a really smart investor or one that wants to focus on international stocks, but useless to most smaller investors (or most that want to focus on mutual funds – like you, maybe).

There are some other good ones. You'll find that OptionExpress is very good (never used this one myself, but they are well rated). More expensive that scottrade but margin rates are lower and maybe they are faster at filling trades.

Anyhow, thats my take on 3 of them but there are many more out there. Of course only used ones that are sipc insured, and again – I'd advise searching for more specifics on this via an online search. FYI, I think kiplingers had an areticle about this about 1-2 years ago. good article but alot can change in 2 years (and I'm not positive it was Kiplingers)

Best luck.

Day trading “well” will take most people on average, three years to accomplish. That’s after 95% of those that try…. fail.

Here are some suggestions (to start);
Read;
Mastering The Trade, John Carter
Trading In The Zone, Mark Douglas
Trade Your Way To Financial Freedom, Tharp
High Probability Trading, Link
There are plenty more books to read. The typical trader reads a book every month or two (I average every 6 weeks)… I re-read them also.

Every night I watch videos on the market;

http://www.alphatrends.net/

http://www.tradingwithtk.com/

Weekend (Sunday) video;

https://www.shadowtrader.net/videoArchive.html

My broker has weekly “chats” that may be of interest;

https://www.thinkorswim.com/tos/displayPage.tos?webpage=onlineSeminar

In one word there’s only one way to be successful: Disipline

Here’s another web page that may be of interest;

http://www.mytrade.com/

Training for a fee;

http://www.investools.com/

Good luck….. it’s been a rough year! I’ve been a position trader for 30+ years. A swing trader for the past 1.5 years. I’m just getting into day trading (also)……………………….

In November there’s a TradersExpo in Vegas… if you can, it’s well worth the effort.

SEC rules apply to broker/dealers, if you trade using a US Broker/dealer you are subject to the SEC rules and regulations.

All customers using US Broker/dealers would have to follow the rules that dictate policy & procedures to that broker/dealer.

If you going to play in the US, directly or indirectly, you have to play by the rules

The best thing is to do seminars or home study courses.
www.thesecret.com.au

David Schirmer is the guy to learn from.

You need to get educated about business. Most day-traders lose to the market over time.

While day trading is neither illegal nor is it unethical, it can be highly risky. Most individual investors do not have the wealth, the time, or the temperament to make money and to sustain the devastating losses that day trading can bring.

Here are some of the facts that every investor should know about day trading:

Be prepared to suffer severe financial losses

Day traders typically suffer severe financial losses in their first months of trading, and many never graduate to profit-making status. Given these outcomes, it's clear: day traders should only risk money they can afford to lose. They should never use money they will need for daily living expenses, retirement, take out a second mortgage, or use their student loan money for day trading.

Day traders do not "invest"

Day traders sit in front of computer screens and look for a stock that is either moving up or down in value. They want to ride the momentum of the stock and get out of the stock before it changes course. They do not know for certain how the stock will move, they are hoping that it will move in one direction, either up or down in value. True day traders do not own any stocks overnight because of the extreme risk that prices will change radically from one day to the next, leading to large losses.

Day trading is an extremely stressful and expensive full-time job

Day traders must watch the market continuously during the day at their computer terminals. It's extremely difficult and demands great concentration to watch dozens of ticker quotes and price fluctuations to spot market trends. Day traders also have high expenses, paying their firms large amounts in commissions, for training, and for computers. Any day trader should know up front how much they need to make to cover expenses and break even.

Day traders depend heavily on borrowing money or buying stocks on margin

Borrowing money to trade in stocks is always a risky business. Day trading strategies demand using the leverage of borrowed money to make profits. This is why many day traders lose all their money and may end up in debt as well. Day traders should understand how margin works, how much time they'll have to meet a margin call, and the potential for getting in over their heads.

Don't believe claims of easy profits

Don't believe advertising claims that promise quick and sure profits from day trading. Before you start trading with a firm, make sure you know how many clients have lost money and how many have made profits. If the firm does not know, or will not tell you, think twice about the risks you take in the face of ignorance.

Watch out for "hot tips" and "expert advice" from newsletters and websites catering to day traders

Some websites have sought to profit from day traders by offering them hot tips and stock picks for a fee. Once again, don't believe any claims that trumpet the easy profits of day trading. Check out these sources thoroughly and ask them if they have been paid to make their recommendations.

Remember that "educational" seminars, classes, and books about day trading may not be objective

Find out whether a seminar speaker, an instructor teaching a class, or an author of a publication about day trading stands to profit if you start day trading.

Check out day trading firms with your state securities regulator

Like all broker-dealers, day trading firms must register with the SEC and the states in which they do business. Confirm registration by calling your state securities regulator and at the same time ask if the firm has a record of problems with regulators or their customers. You can find the telephone number for your state securities regulator in the government section of your phone book or by calling the North American Securities Administrators Association at (202) 737-0900. NASAA also provides this information on its website at www.nasaa.org/QuickLinks/ContactYourRegulator.cfm.

Instead, read the Intelligent Investor and follow Warren Buffett. Get a great job and invest the proceeds wisely.

Best Regards,

Docmase

Hopefully, "20 making 40" is metaphorical … because that will get you nowhere. Before you do anything you need to educate yourself. How, and to what degree, is your choice. Books, classes, on line, workshops, etc…anything will help. I'd recommend an Investment Club. That way you are actively participating and learning at the same time. You may even get away with your 20 dollars (a month) as there is strength in numbers. Ultimately, you'll want to start small, and, as you get more experienced and knowledgeable, try bigger and better. For your first "solo" step, I'd recommend something like Sharebuilder where you can purchase stocks at prices like $4 a transaction…a good way to get your feet wet and see if you like it. Good luck.

You can sell a stock anytime you want, including that day. (I have placed sell orders 1 minute after making a purchase.) However, that sell will not settle for 3 business days. Which means you can not keep doing this if you are trading in a cash account.

That is day trading. And if you do it more than 3 times within 5 consecutive business days the SEC will classify you as a pattern day trader. At which point you will have to have a margin account with a $25,000.00 minimum balance.

And keep in mind this kind of trading is risky. Even a good stock can turn against you without any warning, then take days or weeks to recover.