trading need a lot of commitment to continuously update with the market trend. it sometimes difficult for you to sleep well, thinking what tomorrow's market has to offer. if you can't take the heat, you'll can get distracted easily and lose focus on your own trading plan.
They sell what you're looking for, starting from $999.
BTW, what are you day trading?
Good luck with your trading, man.
How can I get info about major "upcoming" economic news. Like govermnet reportings, and the like (in one single place). It seems like every other day there is some news poping up. Which web site is the best, in your opinion, in reporting this kind of stuff? Thanks
and you're not hedged with options, I take it.
***
with the current capability of computers, browsers and broadband, why limit yourself to only one news site?
you can have multiple such sites open in multiple browser tabs or multiple browsers.
look for the upcoming news/events list in places such as
money.cnn.com
yahoo finance
your TDAmeriTrade brokerage site
and/or any subscription services you get such as
investors.com
wall street journal online
bloomberg news
etc.
1) I understand that Demat account is controlled by ndsl / cdsl through their agents (DPs) and holds shares in electronic form. But what is Trading accoun, its structure and function? Who opens and control this account? Is it the broker?
2) Other than the opening charges of demat a/c, are their more charges such as maintenance of demat a/c or other hidden costs. NDSL site gives the details of many DPs with their fees etc in table format (which is difficult to understand). What i thought actually was that i had to pay only broker charges+service tax, when i deal with share market. What may be other hidden costs?
3) What are brokrage charges for intra-day and dilevery that can be considered good enough?
4) How vulnerable is share market (specially intra-day) to the market games/manipulations by some experts or parties having big amounts or many computer terminal
Guys, If you cant answer all the parts of my question, you are free to answer portion of it as well.!
If you are new to trading, then you should definitely take a look at trading systems.
Here's why:
Every minute more than 150 Million Dollars change hands in the electronic index futures markets like the e-mini S&P and e-mini NQ. You can win or lose thousands of dollars in a few minutes; the futures markets can make you rich in a few weeks or months or wipe out your account with no mercy.
If you want to compete in the “game of games” and play against the best traders in the world, then you need to get ready. Too many gamblers are entering the arena without any plan or strategy, completely unprepared, and that's why they lose.
Trading a system will dramatically increase your chances to succeed in trading, because it eliminates five of the top six reasons why unprepared traders fail.
Here are the top six reasons why traders fail,
and how a trading system eliminates them
Let's take a look at the reasons why traders lose money:
1. Lack of a Trading Plan
2. Lack of Discipline to Follow the Plan
3. Failure to Control Emotions
4. Failure to Accept and Limit Losses
5. Lack of Commitment
6. Over-Trading
By all means you have to avoid these mistakes if you want to win.
Here's how a trading system eliminates 5 of the 6 top reasons why traders fail:
Solution #1: Having a trading plan
Having a trading system means having a pre-defined set of rules you have developed to guide your trading. Therefore you HAVE a trading plan, eliminating the No.1 cause for failure.
Solution #2: Following the trading plan
The easiest way to follow a trading plan is to automate it. Almost every trading system can be automated, and you could let the computer trade for you. You won't have to worry about your discipline any longer, as the computer mechanically trades every setup for you.
Solution #3: Controlling emotions
Trading with a system removes emotions from trading. If you don't have a strategy and you try to make decisions when the market is moving, you are liable to become emotionally attached to positions. You may experience panic and indecision when the market does not move in your favor, as you do not have a prepared response. That's when most traders lose their money. If you follow a system you will know what to do no matter what the market does.
Solution #4: Controlling your losses
You probably have heard the saying “Let your profits run”. Unfortunately most traders let their losses run. A trading system will get you out of a position when the predefined stop is hit. Unless you override the system to “give the trade a little bit more room” it will stop the loss and therefore limit your losses.
Solution #5: Commitment
You won't believe how many traders show a lack of commitment and therefore lose money. Lack of commitment means that they stop trading after the first loss, and don't give their system a chance to make back the money they lost. Trading is not a one-way street, and losses are part of our business. If you can't accept the fact that there will be losses, you shouldn't trade. Fortunately a trading system can help you to overcome this problem; an automated trading system continues trading according to the rules, and therefore adds much more consistency to your trading.
As you can see, five of the six top reasons why traders lose money in the markets are simply eliminated when you start trading with a system.
Without any guarantee, your chances of making money rise incredibly when starting with a profitable trading system.
Hope that helps.
or do you not mean the real thing but a computer game?
What exactly do you think the "other" day traders do wrong?
If they are "ignorant" as you suggest – what should they know that would make them less unsuccessful?
If this is more than idle boasting – you should take your results in the real world to a publisher and get a book out that allows the ignorant masses to understand your superior techniques and live off the royalties!
The books recommended by others here are great. It's hard to advise you further not knowing how much you do/don't know about the market. The paper trading practice sites are an essential. Try those out in earnest and you'll save yourself from unnecessary mistakes later when errors cost real money.
I find that it's important to do a few things:
1. Chart the S&P for uptrends and downtrends – when you see an established trend the market will tend to move that way, and stay within the down slope and up slope "channel" in its daily activity for multiple days. This gives you added confidence as to when to "buy", when to "add to" your position, and when to cash out. When a stock busts out up or down that can be the opportunity to get in or out (depending on direction) of a given index, ETF, or stock. This will also help you stabilize your stock monitoring because you will focus on the stocks at present which are near "support (floor)" or ceiling (resistance)" positions. To help me do this, I've found it is incredibly valuable to have a second computer screen (I use two PCs because I'm mobile when I want to be) with several key screens of data/chart references.
One screen has no more than 6 stocks I'm watching that day, with charts on each screen.
One screen has all major sectors' charts on it – by sector fund (USO, OIH, etc.)
One screen has 52 week uptrending stocks I'm monitoring for pullbacks
Other screens are categoric (e.g., AG companies)
2. Using other resources such as the 52 week high stocks (WSJ, YahooFinance, Google Finance, etc.), and Top 100 (IBD.com) are also opportunities to check for trends, and determine whether to jump on this momentum during a given day, or to wait for a pullback and get in before a multi-day upswing for a multi-day "swing" trade. If you put in the time, you will identify pending breakouts.
3. Listen to Fast Money to pick up on hot trends and expert interviews that can indicate stocks to watch since they have such a wide audience.
4. Keep track of volume levels and beware of low volume days.
5. Track sector movement and rotations. Institutional buyers will dictate what will move, whether it "makes sense" to you or not.
6. Listen to Art Cashen (sp?) – every morning about 9:15 AM EST before the market opens. His insights are usually good indicators to align with or watch for. Good pulse on the market.
7. Know that a margin account can be traded every day with no interest if you don't carry it over night. Non-margin accounts will have a 3 day carry cycle until you can reinvest the funds.
Best wishes for success. Cramer can be a goof on some topics, but knowing what he's tracking can also give you one or two key stocks to watch for the next day if conditions align to support those stocks. His trading rules lists are very good.