Day Trading

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.

Thinkorswim.com open an account with $3500 and download the desktop. best broker firm and if you make 30 or more trades a month they will pay for you internet service! i daytrade with them and as long as you want to buy between bid and ask and place the order it gets you in instantly. $3 option trades. $5 stock trades up to 1000 shares .0125 cents per share after that. cant beat that! email me if you need some help too im always on the market M-F during market hours.

Some of the major trading websites offers initial 30 day or first 20 trades free….you can choose them and see how the service with them goes….I am sure you will find one of them better…good luck

Yes I have. When I first started trading I had an E*Trade account. One month I went to take out some money and I requested a check. I checked to MAKE SURE that they had the right address and they did, so I waited….and waited…and waited. Three weeks later I was told that it was not their fault, even though I never received the check. "We mailed it out," was the only response. I never had any mail not get there from other sources-they dropped the ball somewhere. I ended up having to pay them to cancel the check AND pay for the wire through to my bank-they refused to take ownership of the problem. I told them to forget it and just close the account.

Did you trade during that time? Day trade restrictions are sticky, but usually the rep can remove them on a one-time basis. If its the first time there should be no problem at all. Did you speak to a manager? Thats a day trade call-similar to a margin call but generally much lesser priority. Once you bring the account back up, at most brokers, everything should be roses.

If you are generating that kind of commission any of the other discount houses would be glad to have you. There is no sense in going with such a no frills broker if you are treated like that.

Stops aren't working? are they in the right places?
and you're not hedged with options, I take it.

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with the current capability of computers, browsers and broadband, why limit yourself to only one news site?

you can have multiple such sites open in multiple browser tabs or multiple browsers.

look for the upcoming news/events list in places such as
money.cnn.com
yahoo finance
your TDAmeriTrade brokerage site

and/or any subscription services you get such as
investors.com
wall street journal online
bloomberg news
etc.

NSE and BSE are the Stocks exchanges in India. NSE listed Nifty and BSE listed Sensex. Share market is a place where buying selling of shares is made. Demat account is an account in which shares are in electronic form.

Intraday trading is one in which u r buying and selling those shares, dat very day itself, here only your profit or loss will get added in the margin. here u r not talking delivery of shares.

Brokerage(Standard)0.1% of volume
Service tax12.24% of total brokerage
STT 0.025% of the total vol traded-only for sell
Stamp duty0.002% of the total vol
Turnover tax0.0035% of the total vol

First, what are you currently paying in fees? If you have a 'financial advisor', realize that this is a scam:

http://www.saveyournestegg.com/scam.html

You say you are doing OK – are you comparing your returns to their proper benchmark?

I recommend Vanguard for several reasons. They are client-owned so they do not have conflicts of interest with clients. They stayed out of the scandals. Their costs are very low. They are set up so that active trading is not allowed (so you don't pay the costs for active traders). They have excellent funds. Their philosophy is 'buy and hold'. They have a wide selection of mutual funds and ETFs. Their index funds are very well-managed (often the expense ratio is partially offset). They have excellent customer service.

I don't think those subscription services are what you need. The problem with most of them is that they are over hyped and usually don't account for real world practice and conditions. If you want to make a lot of money on the market you got to do your own research. Think about it, if the subscriptions are that hot why do they tell other people about it? I am a licensed adviser and I have seen too many people looking for the short cut and after being disappointed a few times quit the market all together. I would recommend you to look at some thing like the Motley Fools or IBD and look at what they like and why they like what they like and then do your own research on the company or fund managers. When you buy a fund you are betting on the management's ability to beat the market, that is all. Another thing, this I learned myself after thousands of dollars worth of market lessons. Don't try to time the market. There are to many factors that we do not control. The consistent way to beat the market is through figuring out the fundamentals and let time do the growing for you. Market timing and refusing to cut loses are two sure way to decimate your portfolio. So be careful and do your research before sinking your hard earned dollars.

Best way would be to study trends such as fuel prices bottom out before winter comes and top out mid-late summer that sort of things.

As far as day trading it could be really sketchy at best because the trend is on a 24hr schedule but reading the news on recals product safety that sort of thing or what ever the news.

Ok case in point XM is doing great

Howard stern says hes signed a 5 year contract with serrius

Overnight 10's of thousands signed up for service.

I'm willing to be XM's stock slid nearly as much as sirrius's went up.