Day Trading

If you want a quick return on your money then trading in cfd,s is the way to go.
You dont actually buy shares as such but buy a contract on the assets.
You then earn or lose money on the opening and closing price of the asset.
Many people have got rich very quick from cfd's but there is also the risk of losing money quickly.
Finding a broker will help as they can advice you on stops that sell when the
asset falls below a certain amount you can afford to lose.
you can find more information at

http://www.cfd-to-cfd-trading.co.uk

Day trading is tricky, whether your doing it for real or as an exercise like you are doing here. The primary problem is that over very short periods of time, individual stocks as well as the stock market indexes can be extremely volatile. You might as well throw darts at a dart board marked out with all of the stock symbols because it pretty much is sheer luck over such a short time frame anyway.

I'm not familiar with CNBC's Million Dollar Portfolio Challenge, so I don't know what their investing time horizon is like for this task. Depending on how long that horizon is, I would probably make different sets of choices for your million dollars. Over a longer horizon, I would probably do some research and then pick 20 stocks, $50,000 each, and then let them sit there and do nothing for several months as that is, historically, the best way to get a return on investment. Too much "in and out" of the market would kill you on commission costs alone anyway.

It's queued because it is in line to be processed, it hasn't gone through yet.

It will stay that way until Monday morning, because no stock market is open on the weekend.

If you know that little about the stock market I'm kind of scared that you are investing in it. What'd you buy?

Trading is not an easy road to wealth. There are plenty of statistics to say that most people who go down it fail (90%+). I'm not going to say how much I make per week, but I will say I'm in the 10% (or less) who have succeeded. To me, you need two things to succeed in trading. #1 is a curiousity of how things work. Most good traders will tell you that "systems" are constantly breaking down (i.e., what works today won't necessarily work tomorrow). If you are going to be a successful trader, you are going to be constantly doing research for new things that work. If you don't enjoy the process of researching new ideas, I think you are doomed from the start. #2, you've got to be willing to learn how to handle emotions. Things are going to go against you, and at least in my experience, humans are wired to want to get away from the pain of a trade going against you. How you deal with these moments will define a lot of how successful you are going to be trading. Make a long story short…if you are looking for an easy road to wealth…this isn't it. If you like the game, and can't learn enough about it…then you will eventually find a way to succeed.

Scottrade has the cheapest trading fees and lowest fees in general. There's a site with no fees, Zecco, but I haven't used them.

It should give you a time frame, if it says 3mo than that is the average volume over the past 3 months. Try www.investopedia.com for any investing questions.

They are all basically the same on a beginner level. read my profile

7) Goofing off, surfing the internet.

A friend of mine is a self-employed CFA and she does all of the above. #2 is probably the most important and takes the most time until you build up a client base, which could take many years. She runs her stuff through Fidelity so I think that takes care of most of the back office stuff.

If you go to a book story, you can find many books on day trading. However, none of them have methods that are proven to work. I can't recommend any of them. The truth of the matter is that most day traders lose money, while most buy-and-hold investors make money. There are no tried and true methods for day trading.

Most highly trained professionals refuse to day trade. Many amateurs think they are smarter than the pro's and try their hand at day trading. Fools rush in where wise men fear to tread…

Read these links:

http://www.sec.gov/investor/pubs/daytips.htm

http://www.ftc.gov/opa/2000/05/daytrading.shtm

http://www.ftc.gov/bcp/conline/pubs/invest/daytrade.shtm

http://www.fool.com/investing/small-cap/2004/12/27/daytrading-dangers.aspx

Raj, here's the deal.

Any person, website, company that is going to charge you for trading tips is most likely making more money on you than they ever will following their own advice.

The whole premise behind active trading is that the market is ineffeicient and thus, short-term opportunities arise to take advantage of such innefficiencies. The problem is that once an inefficiency is identified and gets mass publicity, it ceases to work as the trading/investing community starts to discount that information into the price.

What you need is education, not tips. Its the difference between being given a fish and learning to fish. Some strategies very well may work 80-90% of the time IN SOME SCENARIOS. But nothing will work 80-90% of the time in every kind of market.

There are really 2 main kinds of strategies out there.

1.) Those that work in a trending market
2.) Those that work in a range

The only thing these paid services are SOMETIMES good for is leads. Its up to you and your education & judgment to determine if these leads are good enough to implement with your hard earned cash.

But in order to decide this, you must have some method that you are consistently using to discriminate between what makes a good and what makes a bad trade. If you are not willing to take the time to learn this, then you should simply put your money in an ETF and/or mutual fund and be happy with getting your 8-10% on average.

If you are willing to educate yourself there are a number of resources available to you.

http://www.EliteTrader.com is a thriving community of traders where you can get brokerage reviews, vendor reviews, educational material reviews, etc…well worth looking into.

http://www.WilyTrader.com is a blog where you can see first hand what it is like to be an active trader and get a feel for the different kinds of strategies that are necessary for success.

http://www.traderfeed.blogspot.com is Brett Steenbarger's website where he talks about the psychological aspects of trading

http://www.Amazon.com : and look up the following books/authors:
The Master Profit Plan
Mastering the Trade
Brett Steenbarger (Get both of his books)
Trading For a Living

In short, just be very careful about any service offering you the sky. I guarantee you that such rewards to not come without great risks, and more often than not, those risks will come to fruition way before you see a dime of those rewards.

Hope this helps