day tradingsoftwareday traderstock day trading
Ok, i have some money to risk. I want to learn more about charts and trends and what is bullish when this part of the chart does this or that. I know I am talking in simple language, I just dont want to get all complicated. Please help! THank you for your time!
Day trading


I'm giving you some web sites to check out for day traders and swing traders. This will give you a "feel".
http://www.alphatrends.net/
http://www.thekirkreport.com/
http://www.slopeofhope.com/
http://www.tradingwithtk.com/
http://www.thinkorswim.com/
http://www.redoption.com/

Also, some good books to start with are;
Trading In the Zone, Mark Douglas
Mastering The Trade, John Carter
High Probability Trading, Link
Trade Your Way To Financial Freedom, Tharp

Learn the basics of "Technical Analysis" before you read these books. Understand Candlestick Charting, Moving Averages, Support & Resistance, RSI, Channels etc.

There are many great books out there…. Don't read any of them until you've gone through these. Don't ever underestimate the importance of money management, position sizing & trading psychology.

This will take at least a year to get through. Do it and you'll save yourself from many costly mistakes.

In order to do technical analysis for day trading I want to have web site that provides real time charts and host of technical indicators to work on. BSE & NSE are not of much use and Yahoo Finance is late by 20 minutes and therfore not of any value for day traders. I dont mind paying if there is no free site but even after payment if I am linked to yahoo finance it is of no use. I am operating from India. I am sure some knowledgable Indian brother trader or investor or professional can understand my problem and help me out.If possible give me the indicators you are working with for intraday trading only. I intend working only in stocks for the time being and not in futures or derivatives or forex or commodities.
Many thanks in anticipation.
Day trading


Go to : www.investopedia.com
I want to know the best interpretation of the stochastic ossilator while trading with live charts
Day trading


Parabolic SAR is what i use on 5/30 min chart

test it with quotetraker freeware

Which one is likely to fetch the maximum returns:-
1)successful day trading
2)mid term trading
3)long term trading.
Day trading


Welll..i would suggest u not to involve yourself with Day trading if you are just starting up investing in stock..also beware of yourself with the derivatives…..
if u have are thinking about earning some money out of your investment u need to think and act smartly..by investing for midterm and long term…all the transactions(buying and selling that u do must result in a positive long term investment…i mean your short term trading must ensure that your long term investment goals are achieved.for this remember these things carefully while trading …

when it comes to making profit..it depends on ones strategy of investing…
people can make good money if they invest properly …and if ones foolish and more greedy he might loose out every thing…things always happen in extremes in stock markets…
remember this one thing before investing….
dont hurry ur self…think about the stock fundamentals(like its financials like balance sheet or in simpler terms the profits that it made during recent times..its managing style..people in the business…competetors industry as whole etc)
when once u feel that the stock is fundamentally good..then u move on to technical aspects like how is the stock performing in recent times..take the history of atleast past 3 months…and then invest if u feel thats good..u can get the recommendations in investment channels like CNBC watch it carefully during the market hours.
when u invest u have to watch the price carefully..keep a target level..say fro example u bought it at 100..keep a target for that stock say 130…sell it at that level..i dont recommend u to sell it entirely(in bullish market when the market is goin up..sell a partial amount of your holding..and when the market is falling down..book the entire profit by selling it…)
then u can pick another stock…
even while buying the stock its necessary for u to pick up the stock when ever the market is down..it has to be systematic..by this u can average out ur buying price…by doing this u can average the price..if u see n compare the total market movement..which will be more profitable….
i hope ive given u sufficient information to start off..feel free to ask if anythin else is necessary…
Happy investing…!!!!!!

I am new to trading stocks…never have but know a little bit about it. I really can’t find the time to read a book by William O’neal I purchased and I am trying to find some time to finish it. My wife’s uncle who is a dentist makes about $2000 per day trading. I want to start with $1000 that I have in my newly opened scottrade account. Is it a good idea to pay about $20 per aided stockbroker trade? I am really wanting to make some money to move out of my parents home and help them out as well.
Day trading


I would not recommend you to jump into day trading. It’s not for beginners, and you could potentially lose a ton of money in a matter of minutes. In addition, day trading would require a lot of money, and trading with $1,000 would definitely not be enough to cover for the commission costs.

You will need a broker to make stock trades for you but different types of brokers will charge different amounts. Full-service brokers will provide you with a lot of advice. However, their commission rates are much higher than the ones from discount brokers, who only make the transaction of the trade. Personally, I prefer discount brokers because they are cheaper and they allow me to make my own decisions.

I currently use Firstrade ( http://www.firstrade.com/ ). I prefer them over Scottrade because they offer free dividend reinvestment (DRIPs), which is essential for long term investments. They also have slightly cheaper commission rates and much lower commission rates when compparing to ther big name brokers such as Etrade, Ameritrade, and Schwab. Their customer service and website are great as well. I would definitely recommend that you check them out.

If you aren’t comfortable with your invest skills, instead of getting a full-service broker, I would suggest that you try mutual funds. Mutual funds are diversified, thereby less risky. They are also professionally managed so you don’t have to worry about what to buy or sell. To learn more about mutual funds, you could visit Investopedia ( http://www.investopedia.com/ ).

I went to this workshop on how to trade options. They charge $3000 for 2 days sessions. Do you know where I can get to learn it with less cost or no cost?
Day trading


No.

$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

Now I know that they offer free commissions for people who trade less than 10/day, 40/month (like myself), I was just wondering if any =one could give me feedback on how the site has been for them. Is there anything I should know about (ie hidden fees, bad customer service, etc.) that I should know about before I get involved with Zecco. The primary reason I am interesting in Zecco is due to the fact that I want to start investing and I dont have much money to invest (about 5k), so I am looking for a brokerage where commission fees are very cheap and don't cut too much in any profit taking. Thanks!
Day trading


Barrons did an article last November called "What Free Trading Costs". I'll put the link here but you'll probably need a subscription to see it. The upshot is that they pay you 1% interest on your cash balances. Their execution "may" be slower. If you keep $1000 in cash on average, the 4% lost interest (since rates right now are about 5%) will be $40/year. If your cash balance is higher, you get hit worse. Just make sure that the lost interest is not greater than what your commissions would be.
Im planning on trying my luck doing a little day trading. i will be using bank of america brokerage and will get the commission free trading. any suggestions on stock I should take a look at. stocks that are some what volatile that I could buy low sell for a small profit and do it again the next day.
dont worry people i am a long term investor. 90 percent of my money is tied up in index funds and some quality stocks like garmin for long term.
to common sense:
you wrote "With BOA you get 30 free trades a month. But it costs you the difference of earning 5.30% (like www.GMACBank.com) vs. their very small rate"

I put the 25,000$ you need to get free trades in one of bank of america's high yield cds which i locked in at 5.34 percent.
The cds count towards eligibility for commission free trades.
to everyone else who said that I shouldnt do this because day trading is very hard and i am doomed to fail:

I will be placing limit order trades and just set the limits for the highs and lows that I want to buy and sell at.
I feel that is somewhat safer. I will try to buy on a down day and place a limit order sell for like a dollar or 2 above the price i bought it for depending on the stock price of course. The gains wont be too big but at least ill have no commssions eating away my gains.
what do u guys think of that?? still bad idea?

Day trading


Picking a trend in just one day is almost impossible. You don't want to hear this, but starting out daytrading like this, you are like a little league football player lining up against the pros.

When you spread your time frame out a bit, you even the odds a little more and give yourself a better chance. It's still not easy, but why start off against impossible odds?

Here's some ideas that might help you manage risk a little better and actually have a chance: http://www.srsfinance.com/Smart_Money_Principle.html

Sorry if I'm raining on your parade. I don't mean to. GRMN, BTW, looks great. Just make sure you keep a stop loss under $95 and trail that up higher as the price moves higher. Nothing worse than letting a winner turn into a loser.

Best of luck

Say I try to purchase x shares of xxxx at 7:30 PM. Clearly, this is after hours trading. However, when the order goes through the next day, will I be purchasing it at the current day's closing price or the next day's opening price?

Also, if I place, for example, a stop loss transactions or a limit sell transaction, am I charged even if the transaction hasn't been completed? Will I be charged for placing the order and the actual sell or buy?

Day trading


If you trade after hours, the transaction is immediate during the after hours trading period. If you are NOT trading after hours and simply put in an order for the next days market, you will get the opening (or close to it) price.
Usually one is not charged for a buy, sell, limit, stop, etc until and unless the transaction is completed. And only charged once.
P.S. Try ZECCO.com for commision free trading.
And some possible day trades. I need one with trailing stop/loss capabilities. Also, I'm trying to figure out if I need stock trading software? I have the specific parameters (Tech A.) mostly, so what is a good software? does any of the online brokers offer a good "real-time" software as well as low trade commissions? Any advice , especially from active traders , is appreciated. thanks.
Day trading


Whatever disocunt brokerage firm you go with absolutely make sure to demand a money market fund for your cash account. ETrade and TD Ameritrade recently changed their policy and now pay less than 1% on cash…the income they earn by paying their customers less than 1% on cash and simply turning around and depositing "your" money into a money market account earns them huge profits (for ETrade it accounted for nearly 1/2 of their net income for the recent quarter)..Great way to treat their customers don't you think….I can't believe so many investors let them get away with this practice…I can't stress enough that all discount brokerage customers need to look into what their firm is paying on cash and either demand a money market fund return (4.5-5%) or take your business to a place like Wells Fargo Investments that offers money market funds for idle cash and up to 100 free trades per account/year if you have over $25k between deposit, loans, and brokerage (including IRAs).