day tradingsoftwareday traderstock day trading
I have an ICICI direct account. I would like to try in intra-day trading.
I know they have a facility called Margin trading.However, I would like to know more details on this.

A scenario based response from an expereinced trader would be highly appreciated.

It would be helpful if somone can throw some light on the strategies of intra-day trading

Also what does the term "short" mean in stock trading?

Thanks

Day trading


The most important thing to know about day trading is most people lose money. I would do some research before I got into it.
Especially since you apparently don't understand investing. If it were easy, why would people go to work? Learn how to invest the right way and prosper!
Day trading


About 1.3 billion (down from 1.57 billion shares last year) trade on the NYSE daily (average). About 50 million change on the NASDAQ daily. No monetary figures are given as I am not sure it is worth the computer time.
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.

Day trading


With your money
I am new to all this. Where can I learn the basics?
How do I find a cheap, easy to use broker? There are SO MANY - how do I chose? The ones I've heard about include Ameritrade, eTrade, Sharebuilder, TDWaterhouse, ScotTrade, Fidelity, the list goes on! What makes them all different?

What I know: I'd like do invest relatively conservatively (IE - no day-trading). I'd like to invest in ethanol. I'd like to invest for down the line…

The only resource I'm using now are
http://www.investingonline.org/index.html
Yahoo! Finance.

HELP!
Update:
I'm probably looking to invest a few thousand for now. That may increase but I dont foresee investing more than 5-10K.
As far as where I was planning to put my money - mostly in stocks in NYSE or Nasdaq. Prob not smallcaps/penny stocks, but I did have my eye on an IPO or two. BTW what are franchise stocks?

I was actually thinking about Sharebuilder - it comes highly acclaimed. Why is touted so much? Advantages / Disadvantages?

Day trading


You want to buy a diversified portfolio of stocks, as individual stocks are too risky. With a few thousand dollars, this means buying mutual funds. I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low cost funds. If you are like most people you will invest part of your money conservatively, in money market funds and bond funds, and part aggressively in stock funds. Vanguard.com has an on-line questionnaire which will give you an idea how aggressive you want to be.

Investing in a mutual fund IRA for retirement may give you an income tax break. Talk to your tax adviser. You may also be able to invest in a stock mutual fund via a 401K plan at work.

Believing advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.

Inexperienced trader seeking for experienced traders' input: (Thanks in advance for your time)

It was 10/18 - before 1:00am - when I placed an online order to buy ONT with limit $1.20 each. I got it for $1.16 - the highest ONT trading rate for the day - even at 10:30 am east - when I called my broker to ask why I got the shares at the highest rate:

1) Broker said AMEX trading hours for ONT have not really started at 9:30am.
2) The charts on broker site show the AMEX opening hours: 9:30 am/ Opening price for about 4 minutes: $1.07/share and it did not jump right away to $1.16.
3) I did not order to buy the shares before the AMEX opening hours. But my broker said it is how AMEX deals with the orders.
4) Broker also said that if I had placed an order to sell, it would
get processed immediately. Since I placed the order to buy, it didn't get thru so fast.

Is here any trading sense from his say or he forgot to add key words?

Day trading


First, if you are a long term investor, you were willing to pay 1.20 according to your limit and you got filled at 1.16 so it's a good fill according to your instructions. Long term, 4 cents isn't going to make much difference.

Second, if you consider yourself a "trader" a lot of weird things happen in the pushing and shoving of the open. The specialists on the floor make a huge amount of money at this time. In this case, it wouldn't surprise me if the specialist/market maker first did a bunch of buying of opening orders (ONT opened at 1.07) and then sold to the opening buy orders at 1.16 (ONT jumped to 1.16 right after the opening) thus making 0.09 per share just for being the specialist/market maker. He has no obligation to match the orders of public buyers with public sellers. It's good to be the market maker. Traders like me always wait to see how the stock opens to get confirmation before placing an order. A lot of things can happen in the news between 1AM and the market open. Traders never put in orders and let them sit that long.

I currently do some stocks trading but it is just based on the recommendations I got from the web site that I subscribe to, I need to go one more step in that and be a pro. trader specially day trading, if any of you have been in a class stock trading please let me know it, also if you can give a brief evaluation of the improvement you had in your trading skills that will help a lot.
Day trading


There are thousands of books that will help. (You are going to lose money in the long run day trading) I would start with "One up on Wall St" by Peter Lynch. Its an easy read and simple concepts.
I am not in the US or Canada. I am offshore with no residential ties except a bank account
Day trading


If you want to daytrade in the United States of America the answer is yes.

I do not know the laws in Canadian Stocks. You should consult a lawyer before you daytrade in Canada.

If you daytrade in the United States of America by Law you will get a Credit Line of at least $100,000.00 (This is called a margin account)

However, if you don't have assets of at least $75,000.00 (For example, a $25,000 car and a $50,000 property) that you can sell in case things go wrong I strongly suggest you NOT TO DAYTRADE ON MARGIN WITHOUT LIMITING YOUR LOSSES TO A MAXIMUM OF 25% (This means you will only lose your original $25,000)

If you want I can email the Daytrading Laws.

Do not listen to cgimwei.
You need at least $500 to open a brokerage account in Scottrade.com

Example 1:
You cannot invest all your money in just one company. Therefore we are going to invest $225 in each company.
You buy 10 shares for $225 in Wal-Mart
You buy 10 shares for $225 in Target

Let's say you got lucky and both stocks actually went up 5% that day.

Your stocks are now worth $236.25 ($11.25 Profit)

However, you already paid $7 when you bought them and you need to pay another $7 when you sell them

Therefore in this example you actualy lose money.

You also need to consider you have to pay taxes on your capital gains. (Consult your Accountant before you start daytrading)

If you need more detailed advice about daytrading drop me a line.

I have a friend interested in companies that train and hire daytraders to trade company funds. Please coment fom personal experience. She has many years of daytrading experience but is looking for a stable reliable company with a good track record. No churn and burn group.
Day trading


I'm confused. She wants a company that trains, yet "she has many years of daytrading experience"? Which is it?

Companies hiring trainees, in my experience, generally want people straight out of school, preferable with athletic credentials. They feel this means that the trainee has physical stamina and is competitive.

Experience means working on the proprietary trading desk of a firm, not sitting at home with a personal account. That's a way to develop bad habits. It's a different word when you're dealing with size.

Besides, if she's making money in her own account, why would she want to work for somebody else? So, I'm assuming she's not making money. So, why would a firm want to hire her.

By the way, "churn and burn" is a term that applies to retail stock sales people, not traders.

I am 24 years old,i am currently studying and doing lots of research on how to trade fulltime in the stock markets. there is an outstanding 3 days training course that i need to attend,to perfect my stock trading knowledge and skills.
This training involves, live practical trading lessons in the stock market, how individuals can make money weather share prices go up or down , methods to maximise profits and minimise losses. This training will give me the right attitude and confidence to get into the stock market and make lots of money in a hurry. so paying back my sponsor will not be a problem if need be. thanks
Day trading


Try this
http://adityamoney-aditya.blogspot.com/