Check out this site to see what traders are buying and selling:
http://top10traders.com/StockInfo.aspx
This is from http://www.top10traders.com – this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can also read posts on investing from the best traders, as well as share your own investing ideas.
Here are this month's best traders:
http://www.top10traders.com/Top10Standings.aspx
Good luck.
I will answer ur querry in different way :
I am okay if I could get 10 to 12% on yearly basis from day trading. There are several client who regularly lost money in day trading. Looking at current volatility in indian markets, it is very difficult to time the trades.
But I have also seen few people ( particularly with lots of money and those who keep strict stop losses), earning almost 70% a year in day trading.
In case you need more information please email me or ask specific question. Am in Mumbai.
You answered your question yourself, isn't it. Buying a stock is not a lottery ticket, it is part ownership in the business. If the business does well over the long term, so will the stocks performance. I am sure you have lots of examples in front of you -companies like ITC, HDFC, Ranbaxy, Infosys, and many more that have been doing well for decades, so have their stocks, if you held on to them.
Dada, its time you read a real Investing book, Try One up on Wall Street by Peter Lynch, to start with. You will forget about wasting time in evolving trading strategies, and invest the time and effort in picking real good stocks, as Peter Lynch practically shows you how to. (There are better books to start with, but I am guessing you will enjoy the anecdotal style adopted by Peter Lynch more than the slightly more academic but nevertheless excellent reads like The Intelligent Investor by Benjamin Graham)
If you want to build long term wealth, change tack NOW. Or else, if you have enough money to fritter away, keep trying at the 1: 99 odds!
Anyone have experience with good ones?
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.
finance.yahoo.com is the website that i use the most during the day, i am a daytrader also.
If you need more advice just feel free to contact me.
I hope that you will chose my answer as the best one.
Thanks
Regarding taxes, in the US, if you make $60000 daytrading, you will pay short term capital gains. On the other hand, if you lose a net of $60000, you can only write off $3000 per year, until the $60000 is written off (about 20 years).
swh
http://www.earnings.com/earning.asp?month=20070215&day=20061116&date=20070216&client=cb
This range between level of resistance and level of support is the trading range.
The idea of using differnt duration charts to find the direction of market in long term and shotrt term. So, if the long term chart is pointing upward, enter the trade when shorter term chart is also pointing upward.
To get more info, you can visit -
http://the-forex-trading.blogspot.com
With that being said I'd think long and hard about day trading… most folks who do it end up losing their money over time. The problem with day trading is that you get charged so many transaction fee's by the broker, and you won't have the kind of insider information to know when a merger is going to take place or when less than expected earnings are about to be announced that will affect the stock price up or down. Your are just as well to go to vegas and lay the money on black or red on the roulette wheel… at least then the house only takes 1% of all bets- the brokers take a lot more than that in fees.