The presentations made the concepts clear. I'm based in India. I don't know how to go about these exactly! Who shd I contact? where'll I find a FX broker / FX Broker software using which I can place my deals?
If there's someone who's using this method to earn money, I'd appreciate some personal advise! I guess 2 trillion USD turnover a day has enough for all of us individuals to thrive on!
Thanks, in advance!
They have a free ebook on all about forex trading which you can download for free, read and enlighten yourself before you start trading.
You can also invest as little as $25 to test your trading skills.
There are other numerous advantages which they offer as well.
I am a hardcore trader too.
Happy trading…
Now as for brokerages, there are a lot of good brokerages depending on what you like and how you trade.
Barron's has a great article on brokerages that they publish each year. (Latest one was in March 6, 2006). Kiplinger does one too.
Here’s the link to the Barron’s article.
http://webreprints.djreprints.com/1550280182488.html
Here’s the link to the Kiplinger’s July 2006 article which isn’t bad either.
http://www.kiplinger.com/magazine/archives/2006/07/brokers.html
For basic stuff, E*Trade, Ameritrade, and Scottrade are sufficient. For more complex trades, I'd recommend Optionsxpress, ThinkorSwim, or interactivebrokers.
Based on what you put in your question, I'd recommend one of the first three, but all are very good. Cheapest probably is scottrade (of the larger online firms). Yes there are cheaper like interactivebrokers, but you'll have to get used to their software based platform (which is doable). They're only about $1/contract on options!
Brokerages like Fidelity are horrible for anyone with any decent experience.
So, decide what's important to you as a trader and compare the brokers! You can use the article, or go to each website as they all seem to have comparison charts! But as I said, for settlement, that shouldn't change by changing brokers.
And if there are particular things that are most important to you (such as executions, cust svc, cheapest trade, flexibility on allowing you to do certain types of trades, stop and stop limit orders, contingent orders, great graphing, what if scenarios, training, etc), I'll be glad to help discuss this with you too!
If you have any questions, let me know.
Hope that helps!
You may also want to try E-Signal and NinjaTrader.
If you have a lot of money and you want top-of-the-line software, then you might want to try Bloomberg, Reuters, Thomson, Moody's, etc.
Now I use Interactive Brokers because I need forex exposure and I trade their Traderworkstation its a bit cumbersome to use due to all the features it has (you can pretty much trade any market instrument)
I have heard good things about Tradestation look at forums on www.elitetrader.com for more info on reviews.
I have been Daytrading the Nasdaq, Amex, Nyse, BB and PK stocks using Etrades level 2 software. I have had success trading news stories, earnings Good/bad, Share Buybacks, gaps up and down, buyouts and FDA news approvals and non approved.
I have read dozens of books and been on courses regarding day Trading but the best trades I have made I have figured out myself. I Am Looking for more specific Individual ideas that others may have found successful.
For instance I watch the news feeds all day looking for key words in news that will trigger a price move or I'll spot a loser and follow it for 2-3 days till it's almost dead and then buy it as it bounces back, another good one is following the top 10 risers of the day till 10.10 am and then buy one that carries on it's rise. So anybody got any Good Individual ideas I will appreciate it.
The website below has software that scans the news feeds for you specifically for day traders. It is programmed to look for the key words that causes big moves in stock prices. If there is any advice you could give me before I get started I would love to hear it.
What instrument (e.g. stocks, forex) are you trading?
There are some great pivot point calculators around, and often charting software includes pivot point overlays.
You can do similar screens for various technical criteria using various software packages out there. Some brokers even have free screening software built into their platforms.