What exactly do you think the "other" day traders do wrong?
If they are "ignorant" as you suggest – what should they know that would make them less unsuccessful?
If this is more than idle boasting – you should take your results in the real world to a publisher and get a book out that allows the ignorant masses to understand your superior techniques and live off the royalties!
i pump 1 lakh rupees
and even if i make 1% profit (after adding brokerage&taxes) i make 1 thousand rupees!
Till date there are not a single day trader who has consistently made money, without risking his sampatti.
My sincere advice would be to find a few really good stock and invest for mid to long term.
In case you are in a hurry. then I am afraid, there are no shortcuts.
im not too lazy to read, i would just prefer learning from an expert.
there are so many things you have to look for, process, evaluate, and then take risk and invest.
in todays market, you better know what the heck you are doing or you will not make a dime i can guarntee you.
first thing, learn about stocks, how stock works, and all the terms pros use. http://www.investopedia.com
I'd start with http://vse.marketwatch.com and use imaginary $100,000 to begin with and trade on it to get a feel how trading works.
also.. i doubt you have that kind of money which you don't need that you can use for trading. unless you have at least 2000 dollars to start with and willing to lose it all for the worst possible. I suggest you get Mad Money from Jim Cramer and watch fast money on cnbc.
also visit Yahoo Finance
You could always open a new demo account after the 30 days is over and you can continue doing this forever with some brokers.
I am using a great system to trade the forex market successfully with no guess work. A revolutionary software uses a hedging system that minimize your risks and loses.
If you would like to know more about this system, click on http://www.4xmoneytrain.com
How many shares (or amount of equity) of a heavily traded Fortune 500 company can you typically trade in a single transaction without getting partial fills. What about if you use Market orders vs. Limit Orders?
For instance, if you were to place an order for $100,000 of Google stock via a Market order, would you typically get the entire order filled immediately? What about if you try to sell $100,000 at Market?
What about if you do Limit orders vs. Market orders?
I would like to be able to trade very large quantities frequently during the day and would like to know if I'm going to need to account for partial fills.
Thanks so much!
(In response): Thanks, yes, I've been doing analysis for a couple of years now and know enough to be dangerous =).
The reason I mentioned the dollar amount as opposed to the number of shares is my assumption that there is a rough dollar amount to when you start reaching limits as opposed to quantities of shares.
For instance, which is more likely to get a partial fill (all other things being equal):
200 shares of a $500.00 stock
2,000 shares of a $50.00 stock
Is it better to day trader larger value stocks to reduce the chance of a partial fill or does it not matter?
Limit orders will only fill at your specified Limit price or lower (for a buy). If the stock goes up you won't get a fill.
If you don't want partial fills you can use "all or none" order. They will fill the whole order or nothing.
Another thing you should know is you don't place an order for $100,000 worth of stock. You bid for a number of shares at a specified price (limit price). Market orders you only specify number of shares.
No offense, but you should really do some reading before you start trading. It's a risky business and the more you know the better. The web is full of information, but so is a bookstore or a library.
Good luck.
- Concentrate on a few, liquid and volatile stocks only.
- Buy or sell intra day trends with at least 3:1 reward-risk ratios.
- Use mental stops placed under the last minimum (above the last maximum, when shorting) and stick to them.
- Use a decent money management scheme, write down the rules and stick to them.
- Develop a system, trade it on paper only for some time, before risking money.
Here are some more, that I found useful too:
- Don't trade the first and last half hour.
- Stop trading on a given day when you have reached a set target amount or when you have lost a fixed amount.
- No more than two ongoing trades at one time.
- Take breaks, it's a stressful activity
as far as real estate.. where internationally are some great places to invest? (that speak english or spanish)
Although it may not be obvious, day-trading creates certain risks for brokerages and exchanges as well as the individuals doing the trading.
The higher account requiremens reduce the risks for brokerages and exchanges. For more information see
http://www.nasd.com/web/groups/rules_regs/documents/notice_to_members/nasdw_003881.pdf
in addition we set the MACD and stochastic indicators.
un fortunally i do not remember the indicators settings,so any one know this strategy or a reference to it,please inform me.
Thanks for your help.
