day tradingsoftwareday traderstock day trading
I would like to start doing forex and I found some "forex trading/tips providers". They basically analyze market data and trends, and send you tips of what is "likely" to happen in the market as soon as they see an opportunity, of course, its up to you to execute your own orders. But how good are they? Their services are not cheap. I am not a math person and my knowledge of technical analysis is limited. I found out one called "www.4xfindme.com" But has anybody used any of such service providers? Can anybody recommend a good one? I know that at thend of the day we are taking an "educated guess" but do these forex trading tips service providers can really help? Any good ones out there that anybody can recommend? Which one is the most popular and best forex trading tips service provider out there?
Day trading


Most trading tips providers or signal providers don't work. You can read reviews on most of them on http://www.forextopten.com and http://www.forexpeacearmy.com .
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.

In order to do technical analysis for day trading I want to have web site that provides real time charts and host of technical indicators to work on. BSE & NSE are not of much use and Yahoo Finance is late by 20 minutes and therfore not of any value for day traders. I dont mind paying if there is no free site but even after payment if I am linked to yahoo finance it is of no use. I am operating from India. I am sure some knowledgable Indian brother trader or investor or professional can understand my problem and help me out.If possible give me the indicators you are working with for intraday trading only. I intend working only in stocks for the time being and not in futures or derivatives or forex or commodities.
Many thanks in anticipation.
Day trading


Go to : www.investopedia.com
I have studied a lot of technical analysis and played a little with forex.. currently i make $10 and hour .. I was wondering if it was possible to make just $10 an hour trading… if so let me know i'd love to quit my job and stay at home all day

How much should I have in my account?
Leverage?
What broker?

Day trading


No you can not. but you can lose hundreds in seconds. 30 years investing.
Which mutual fund investing in day trading ? - I mean they should not invest in certain fund for long term, they have to buy & sale daily. - is there any fund like that.
Day trading


Wat ever or which ever the mutual fund is, they must be in delivery and not in derivatives. Nothing but, they must be in the form of investing.

How ever, even in delivery, you can buy daily and sell daily the stocks that you hold. It depends totally on the fund manager whether to hold the stocks or sell. He does it depending on technical analysis and other news. If such an analysis fluctuate every day, the fund manager may transact the stocks every day. BUT SUCH A POSSIBILITY IS VERY SELDOM.

Got any web sites that can assist me? thanks!
Day trading


For technical analysis the sites are
stockcharts.com
stockta.com

earnings.com (great during earnings season)

I am sure I am not the first to try this approach. It's based on the formula that every time you increase your principle by1 percent, then every time you do this 100 times, your principle will be double. so if you average 1 percent gain on selling a stock, and you do this 20 times a day then your principle will double every 5 days.

I imagine there is something similar to this that day traders try to do. I know you will never consistently make one percent on every trade, but if you average that, then it still works out. Gaining one percent on a stock isn't that hard, is it?

Day trading


It's even easier to loose 1%…..
And don't forget commissions and taxes you have to make more then 1% just to acheive 1%. As an example, you invest $1000 and make 1%. That comes out to $10. But even at scottrade, you pay $7 to buy and $7 to sell and $3 in taxes. So your 1% gain of $10 costs you $17. Even on $10,000, your gain is $100 but taxes and commisions take nearly half of it.

investing isn't like pitching quarters…. you actually need to learn things and it's a lifelong endeavor….

There is a difference between 'traders' and 'investors'. In the long run traders are statistically losers. That's why there are so few Warren Buffets in the world.

success in anything of value takes effort, knowledge and experience. There is not some little trick that is going to make you rich.

If you're interested, here are some things you can learn to be an investor. It's not as exciting, but it is more successful…. you can always use 10-15% of your portfolio to gamble with, but learn to be an investor with the bulk of it.

Start by getting a subscription to Barrons or Investors Business Daily… Do this for 6 months or a year. At first, It seems a bit mysterious, but pretty soon you start to understand the terms and things that investors are looking for and what they are afraid of

Go out to the internet and search on the following subjects. Become very familiar with the concepts.
Asset allocation
Long term investing
inflation
Roth ira vs ira
Large med small cap
Value vs growth
Indexed mutual funds
No load mutual funds
ETF
Sector funds
Bonds CD preferred stock
dividends
International funds
Market cycles
volatility
Fundamental analysis
Technical analysis

In most cases, I think it is wise to use indexed mutual funds and ETF's to build the base of your portfolio.

Good luck

Day trading


I have a couple of suggestions, spend some time at the websites below and look up texts by John Murphy, he wrote the classics on trading and charting. One of his texts, which I read):
Technical Analysis of the Financial Markets - John J. Murphy

Here's another one I read & enjoyed:
Technical Analysis Explained - Martin Pring

An overview, which I read in French:
Technical Analysis from A to Z - Stephen B. Achelis

There are a number of texts involved in preparing for the CMT exam, see below link on MTA. Just going through the effort of preparing for the CMT exam is a great learning experience.

There is also my own trading website link, last one in the list below.

A final note, there is alot of learning aside from the technical analysis. One friend of mine noted and many traders agreed: "you don't have to be smart to be a good trader, just disciplined." Keep it in mind and good luck!

Day trading


"technical analysis for beginners" - gives a good overview of the main points of very short-term market movements…

there are plenty of other books but you need to first figure out what you're going to specialize in - I trade mostly forex, but you might try futures or some people are even still trading stocks nowadays

I have dabbled with the idea of day trading and feel that with a 3% weekly return on investment I will be able to reach my financial goals with in 5 years. I know that most will lose money in this pursuit but I am not really looking for major hits with each transaction. Just a modest return. Is 3% a lofty goal or should I be looking to "let it ride"?
Day trading


I would tell you that is lofty, to consistently pull that you have to be darned good–there might be a week you return 10% followed by 3 weeks you lose 10%.

Speculating is NOT investing, it is a hobby that can make or lose you money. It is risk capital that you should be doing this with.

My advice would be to start reading technical analysis books and work with a broker at first. One that will take some time with you–help you understand. You will have to pay a commision greater than what you will online but you will have a teacher to help you. When you are comfortable go online with it.