I heard there are groups of people that get together to share information, buy & sell stock, etc. etc. Any idea where I can join a group in Los Angeles, CA.?
Some good places online to share info with others and learn are;
investorshub.com (my favorite)
siliconinvestor.com
ragingbull.com
many boards are devoted to trading at the above sites. you can sign up for free memberships at all 3. Ask the traders on the trading boards what software they use.
I have been a trader, investor, broker, etc. and it is rare to see anyone who is not a professional trade for a living. If you got it, then you will know pretty soon. You have to be able to set your stops, take your losses if needed.
Also read "trading for a living" "come into my trading room" both great books from Alexander Elder.
What's the least exspensive out of the major ones, But also there minimum isnt higher than $800
Okay, how about out of these, scottstrade, etrade, fidelity, ameritrade, sharebuilder
I'm sorry guys. I don't want your opinion on investing in general. i just want an answer to my question
“What do the colors mean on Time & Sales?
• • • Green = trade occurred on the Ask.
• • • Red = trade occurred on the Bid.
• • • Cyan = trade did not occur on the Bid or Ask.
• • • Yellow = trade broke either high or low for the day.”
Regarding Cyan, what kind of trade is it if it doesn’t occur on the bid or ask? I see them often with up to 4 decimal places and sometimes in large volume. What kind of trades are these and what are they called?
The yellow trades, are they the ones that have a (T) beside them i see in after hours trading? What kind of trades are these and what are they called?
as far as real estate.. where internationally are some great places to invest? (that speak english or spanish)
Read the fine print on Sogoinvest.com The 15 free trades are the automated type that are set-up and executed on a monthly basis not the buying and selling type that you may want.
And by the way- there are none of those hidden fees or fine print that some of the cheaper companie have (like only trade on Tuesdays, or limits on what markets you can trade on)
By law the minimum amount needed to open a daytrading account is $25,000. This will open a margin account, with which you can daytrade up to four times the amount that you have in your account. So with a minimum account of $25,000 you can daytrade up to $100,000 per day. (There are some restrictions) You must pay interest on any amount that you hold overnight that is in excess of the cash in your account. Daytraders never hold anything overnight.
There are many different styles of daytrading. You can trade gaps up, or gaps down. You can trade technicals or breakouts. You can trade a particular stock or group of stocks. Each style requires a specific set of tools and the skills to use them. At a minimum you will need a good broadband internet connection, streaming level 2 quotes, and a good broker. Quotetracker is a good, free platform that you can download and try, just to get a feel for what is involved. Also I believe that Scottrade will let you download and try their platform for free.
The broker that you choose depends upon your style of trading and the volume that you trade. Flat fee commission brokers like Scottrade are fine if you trade volumes above 1000 shares at a time. On a thirty dollar stock, that's $30,000 per trade. Personally I may buy more than 1000 shares, but I'll often take a position 100 shares at a time. So in my case paying $7 for each of those 100 share trades would kill me on commissions. Instead I use a broker that charges per share, not per trade. If you're not dealing in high volume it's best to pay per share, not per trade. That way you can buy 100 shares and it will only cost you $1 in commission.
The other thing that you should consider, just in case you do make money daytrading, is taxes. Although the advent of online tax services has made keeping track of all those daytrades considerably easier, it can still be a headache. It's much easier just to buy a stock, hold it all year, and then pay the taxes on it. Very simple.
I do not believe that daytrading is the best way to go for a beginner. It would be better to start by just buying and holding, or swingtrading. Personally I now use a service that sends me alerts on what to buy and sell. It actually works much better than I could ever do on my own, and it's a whole lot easier. Still it's quite common for me to lose $1000 or more per day. But on average my up days far outweigh my down days.
Yes, I do this for a living, and it is much easier than having a real job.
Here are a couple of US brokers I can recommend:
scottrade.com
tdameritrade.com
then join ScotTrade for low 7 bucks trade commission and do it like a pro
Also, regulatory agencies are not nearly as strict as they are in the States, so they may allow a certain amount of insider trading to occur. Therefore, not only would you be wasting your time, you would be wasting your money.
The best way to play the overseas markets is through a specific ETF or similar equity.
There is no money to be made in day-trading European stocks. They are looking for investors and make it a point to discourage day-trading.