Are the London Markets as fast on Level 2 and are there any extra obstacles such as minimum Day Trading account balances or maximum round trips per day?
I use Yahoo News and charts on the American markets as a secondary back up tool but on the London markets their service is sub standard. I also use Knobias for News feeds.
What tools are needed for Day trading success on the London markets
Any info, advice or experiences are much appreciated.
This site should give you a good start.
http://finance.yahoo.com/education
If your current/future employer offers an employee 401k plan. Invest up to the matching % of your employers contribution. If plan offers an election to invest in a money market fund you may want to invest in it until you learn more. Next invest in a Roth IRA up to the max allowed(yearly). If you then have more money to invest, go back to your 401k plan and invest the max allowed(yearly). So after you do all the above and want to invest more you should be able to decide how. Only invest money that you can afford to lose. Making some quick money is nice but if you lose it, it gets right ugly.
You may also think about ETF's instead of mutual funds, stocks. and options.
http://finance.yahoo.com/etf
Try what you learn on demo sites. They can be a very fun but educational way to learn from mistakes. If you pick 75% right with play money then you might be ready to start slowly investing.
http://simulator.investopedia.com/
http://simulator.zacks.com/
http://www.fxcm.com/open-free-100k.jsp
http://www.alpari-idc.com/en/metatrader4…
Or just google for more.
I use Lightning Strikes Trading System for trading in any time frame and it works on forex, stocks, bonds, etf's, mutual funds, etc… They have 3 free training sessions a week and you don't have to buy the software to join in the live chat and text. You can even watch some recorded past live sessions. Here are some past charts that I used.
http://f1.grp.yahoofs.com/v1/MB16R0zjjaZ…
http://f1.grp.yahoofs.com/v1/MB16RxjOUQt…
There are 7 indicators (2 short, 2 medium, and 3 long term) and if volume is reported another one is added (on balance volume). Plus whatever time-frame is used the 2 green horizontal lines are the support and resistance for that time frame. So when indicators are all touching the bottom price is at or very, very near support. At top is at or very, very near resistance. Which helps my entry/exits and risk/reward ratio.
http://f1.grp.yahoofs.com/v1/MB16R9Wv-wt…
http://f1.grp.yahoofs.com/v1/MB16R9wSKdV…
http://f1.grp.yahoofs.com/v1/QCt6R2fYIj6…
http://f1.grp.yahoofs.com/v1/QCt6R3R0VQe…
If you can not view charts above I can email them.
Here are my favorite sites.
http://stockcharts.com/
Has basically all you need from fundamental to technical terms. Plus stock screens, charts, public chart lists, and much more useful info.
https://www.fidelity.com/
Has good learning resources.
http://moneycentral.msn.com/home.asp
In addition to yahoo finance.
http://www.reuters.com/
For news and more.
http://www.marketwatch.com/default.aspx
For news and more.
http://www.valueprime.com/index.php
For rating stock risk/reward ratio and reports.
http://www.barchart.com/
For investing in more than stocks.
http://www.investopedia.com/
For more great learning tools.
http://www.lightninglive.com/
For best software timing your entry/exits any time frame for day traders and long term investors.
Others worth exploring.
http://www.equis.com/
http://www.stockta.com/
http://www.secform4.com/
Best Wishes,
Burt Whitley