Please if you don't know what I'm talking about please don't answer the question to get your two points and waste my time. These first two bone heads clearly don't know what im talking about. This first guy has no idea what day trading is. The second guy doesn't realize i'm asking for tips, that is my questions. You both are losers get a life.
Most successful daytraders (with emphasis on successful) trade small movements in highly liquid, higher-priced stocks (and/or derivatives of those securities or the indices).
Good luck.
If interested, you can email me at nliang@luc.edu
We loved the layout and easy reading from the simulator we used….www.top10traders.com
Has anyone ever used etrade.com?? I need to be home and want to pay as little commission as possible, if that is possible.
Can anyone direct us?
Thanks….
are all good.If you are daytrading remember you need at least 25,000 minimum in your account to not get hit by the daytrading rules.
http://stockstoshop.mywowbb.com
Also read Tom Busby's book, Winning the Day Trading Game.
They'll give you a good primer. Fantastic books to get you started. After that, you'll have a much better sense on what and where to go next.
One option would be to work with a mentor. Todd Mitchell looks interesting at toddmitchell.com for trading.
Though if you go to daytrading, you'll need to practice a lot more than a couple of weeks. Most successful day traders I know practiced at least months before being somewhat successful as there's all sorts of nuances, the shorter the timeframe that you trade in.
Let me know if you have any questions.
Hope that helps!
how does it all work?
It is very risky, and any gains are taxed at a higher tax rate, the short term capital gains rate.
It is supposed to work like this, buy a stock, wait for it to go up, and then sell within a month or so, reap the profit, and it is so much you don't care about the higher tax rates.
More often, it is buy a stock, panic when it drops, sell it and lose money.
80% of all daytraders lose money.
Be CAREFUL.
You already have a broker, and are simply looking for good market advise, and are willing to pay for it, right?
I've used TradeStalker for awhile, but it's strictly for stock index futures or ETF's on margin (leverage). He's very good, and will teach you a lot of good stuff. He charges $100/mo.
Here are several:
http://www.tradestalker.com/
http://www.mrswing.com/landingpage.html…
http://www.allfuturestrading.info/…
http://www.systemtradingblog.com/…
http://www.tradertech.com/home_ov.asp?co…
http://daytrading-fdax.blogspot.com/…
i've already got some stable base funds that are conservative and pay me monthly and am now looking to do a little high-risk/high-reward tinkering.
please, experienced help only.
One thing you need to know is that you must to have a minimum of $25,000 in your brokerage account at all times if you will be day trading with a margin account. As soon as you buy and sell, or short sell then buy the same stock within the same day 4 times within a 5 day period, your account will be labeled a day trading account. In order to maintain a margin daytrading account you must have a minimum of $25,000 in the account.
I suggest you read this:
http://www.nasd.com/InvestorInformation/MarketsTrading/DayTradingInformation/NASDW_005906
These are official rules and should get you started.
Trading PENNY STOCKS will just increase your chances of failure and is akin to gambling: You may hit it big once in a while, but usually you'll lose.
As suggested, start with a 'Dummies' book or the like. Also, scour the internet for info on daytrading. Investopedia.com, for one, has some good articles on short-term trading and technical analysis.
I think it is pretty cool that you are trading at your age. But, no matter what strategy you use, don't take on too much risk, cuz losing trades are part of the game, no matter what strategy you trade.
Good luck!
Scott Cole
www.bestdaytradingstocks.com
www.kungfutrader.com