Day Trading

If you're daytrading, then it can be riskier depending on the level of margin you're utilising and the volatility of the stock you're trading… personally I DayTrade and I have no issue with it, equally, if you're doing it sucessfully as well, don't worry and focus on what you see.

Tax-wise… that depends on what country you're trading from and you should obviously discuss the matter with your local authority.

I have a friend that really trading stock for living. but bare in mind, trading is not the same as investing where you can still make money even when you asleep.

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.

Most people loose money bacause they do not have a strategy and money management rules in place

if u dont have disipline dont even start u will loose all your money

many people do trade and have become very very rich so it can be done

We are of like mind, but because I only have $10,000 to invest, I'm forced to Day Trade index futures. I'm not a Day Trader, but have been a position trader off and on for 15 years, mostly with options and futures. Tough game for the little guy with weak hands.

Check outthis link at TerraNova Online. The Investor platform is an escellent trading tool for a beginner, and is limited to one screen. I use RealTick and five screens, but it costs $250/mo. Ask about a free trial.

http://terranovaonline.com/

A lot of online brokerages claim to give you direct access, but if they take more than a second to execute your trade, it aint direct.

Find the articles online that have evaluated and compared online brokerages. I found a good one online in Barron's, but you'll find others in the trading magazines.

This is worth putting a little time and effort into, because it's a pain to switch, so once you choose, you're kinda stuck with it.

Townsend Electronics, the Parent company of TerraNova, is the one that digitized and electronified the Nasdaq. They are technological industry leaders and have a powerful and well built trading system.

What you should try is a free trial of their Investor platform, which I think is free anyway. Their rates are good also, but of course, it depends on how often you trade. It will take you months to learn all the bells and whistles of what this program can do.

The other top-of-the line program is TradeStation, but it costs big bucks to join and operate. Some people consider it the Cadillac of trading and technical analysis.

TerraNova is the home of the Day Trader, so they think nothing of you making several hundred trades a day. You don't have to do that, but it's okay here if you do.

Read vociferously:
"Which Is Better, Buy-and-Hold or Market Timing?"

"Do You Have What It Takes to Be a Market Timer

The Beginner's Bible in Technical Analysis is:
Edwards & McGee"Tech. Anal. Of Stock Trends"

Droke, ClifTechnical Analysis Simplified

Kahn, Michael N.Tech. Anal. Plain & Simple

Kamich, Bruce M.How Technical Analysis Works

Lefevre, EdwinReminiscences of a Stock Operator

Lofton, ToddGetting Started in Futures

Lowenstein, RogerBuffet (Warren)-The Making of a Capitalist

O'Neil, William J.How to Make Money in Stocks

Oz, TonyHow to Make Money From Wall Street

Rotella, Robert P.Elements of Successful Trading, The

Schwager, JackStock Market Wizards

Schwager, Jack D.New Market Wizards

Sperandeo, VictorTrader Vic-Methods of a Wall Street Master

Wasendorf, RussellAll About Futures

Slutsky, Scot and Darrell JobmanComplete Guide to Electronic Futures Trading

You can get every one of these books from your local library. If they don't have it, ask about Interloan Library System.

It's not possible to know how much could you earn.
But you also need to ask yourself how much could you lose.
If you ignore the risks you'll be taking you won't last too much time on the market.

About the intraday or long term trading: basically the best trading strategy is the one that fits your personality. But keep in mind that for short term trading you would need much more than Rs5000.

Good luck on your trading

The big issue with premarket trading in my experience is that the spread is often times very large. There are exceptions to this, and this is when the stock is heavily traded in general (such as QQQQ or DIA) or that day (such as a stock that just came out with an earnings announcement). Thus, if the spread is low, after hours trading should ideally be no different than during the day.

Now, keep in mind that the premarket trading doesn't open where it left off the day before, but rather, where the current bid/ask prices are. Thus, if a stock closed yesterday at 10 bucks, came up with stellar earnings this morning at 7:30, you'd expect the initial bid/ask to be above 10 bucks (as everyone, not just you, got this news). Now, it is possible that the last trade for the stock this morning was lower than the pre-market bid/ask. But it is the current bid/ask price that matters and tells what you can get for it now. Thus, you wouldn't be able to pick it at 10 bucks pretrading. Now, it is possible that if you premarket trade and you get the stock early in the day, you can appreciate the continued rise during the day of that stock (although you probably could have done the same by just buying it at market open). However, the premarket trading could have also over-reacted (in particular, if the stock is very lightly traded). If the latter is the case, then you would have been better off just buying the stock at market open.

Bottom-line is that you should probably buy/sell stocks pre/after-market just as you would normally, keeping in mind everyone else has the news too. Further, you should be careful of large spreads with the after-hours trading, as it reduces possible gains. Hopefully this helps?

There was a strategy popularized in a group called the turtles several years ago. One of their features was to watch for a price break out of a moving average number. They commonly used 50 or 200 day numbers, but your 100 day will work too.

If you notice price fluctuations over time, there seems to develop something some people call ceilings and floors. The price seems to stay within a channel. In statistics you would call that a standard deviation, as practically applied–technically, it is a bit more involved, yet it is a functional equivalent of the principle.

Now, if the price of the stock or commodity contract "breaks out" of that corridor, whatever caused that would likely have some strength or momentum to it. The turtles found that they got to get more action in watching the 50-day moving average breakouts, but there was more strength and better results in waiting for a 200-day breakout. Bear in mind, it didn't matter which direction the price broke because they would buy (go long) for increasing prices or sell-short (go short) for falling prices.

Next you apply a stop loss of some sort, usually a trailing stop of something like 5 or 10 percent depending on how volitile (how the price flops around). Just because something set a new higher or lower price than it experienced recently doesn't mean it will be a straight shot up or down.

This is just stupid (no offense).

Depending on what you invested in, you could have to register with the SEC. Additionally, you would be signing up for double taxation! You would have to pay additional legal and accounting fees, and could have your quarterlies audited by the IRS.

There are absolutely no advantages to this scheme. Never mind that if you tried to become a trader for a living, you would become homeless, as more than 90% of "day traders" lose more than 2/3 of their capital in the first year.

Not to mention that this would look a hell of a lot like money laundering to an outsider (someone who creates a shell holding corporation to avoid having his name attached to the movement of significant amounts of cash moving across state lines is a pretty good way to meet some kind agents from the FBI).

It's never a good idea to try to outsmart the federal government – sure, they might not be the smartest bunch in the room, but they sure know how to hold a grudge.

Day trading is definitely a great way to make huge profits but many people don't know the SEC rules on day trading. The SEC requires that you have a minium of $25,000 in your market account in order to day trade. I would recommend getting a scottrade account set up and using that as your broker to place orders. You can setup a joint account with another account holder and use the combined account balance to create your $25,000 minium balance. I personally bought 2 $10,000 CD's at a 6 month term to have a safe place for $20,000 and the other $5,000 was used for day trading. I've made lots and lost lots doing this so do your research when taking such risk. I've also made large profits in real estate but location and timing play a large part in that. Real estate is more of a long range investment tool and can eat you up if you don't run the numbers right! You have to keep in mind that you're paying interest on your loan, taxes always go up, home owners insurance, and the rent money isn't always on time. A great place to invest internationally is cancun! Great rentals and its always a hot spot!

You can try Metatrader 4. Also easy forex is ok, but their spreads are higher.

Hope this helps!

Regards,