stockcharts.com
stockta.com
earnings.com (great during earnings season)
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?
How many shares (or amount of equity) of a heavily traded Fortune 500 company can you typically trade in a single transaction without getting partial fills. What about if you use Market orders vs. Limit Orders?
For instance, if you were to place an order for $100,000 of Google stock via a Market order, would you typically get the entire order filled immediately? What about if you try to sell $100,000 at Market?
What about if you do Limit orders vs. Market orders?
I would like to be able to trade very large quantities frequently during the day and would like to know if I'm going to need to account for partial fills.
Thanks so much!
(In response): Thanks, yes, I've been doing analysis for a couple of years now and know enough to be dangerous =).
The reason I mentioned the dollar amount as opposed to the number of shares is my assumption that there is a rough dollar amount to when you start reaching limits as opposed to quantities of shares.
For instance, which is more likely to get a partial fill (all other things being equal):
200 shares of a $500.00 stock
2,000 shares of a $50.00 stock
Is it better to day trader larger value stocks to reduce the chance of a partial fill or does it not matter?
Limit orders will only fill at your specified Limit price or lower (for a buy). If the stock goes up you won't get a fill.
If you don't want partial fills you can use "all or none" order. They will fill the whole order or nothing.
Another thing you should know is you don't place an order for $100,000 worth of stock. You bid for a number of shares at a specified price (limit price). Market orders you only specify number of shares.
No offense, but you should really do some reading before you start trading. It's a risky business and the more you know the better. The web is full of information, but so is a bookstore or a library.
Good luck.
I found the answers I was looking for at this site – http://www.traderstatus.com/whyanentity.htm
Depending on what you invested in, you could have to register with the SEC. Additionally, you would be signing up for double taxation! You would have to pay additional legal and accounting fees, and could have your quarterlies audited by the IRS.
There are absolutely no advantages to this scheme. Never mind that if you tried to become a trader for a living, you would become homeless, as more than 90% of "day traders" lose more than 2/3 of their capital in the first year.
Not to mention that this would look a hell of a lot like money laundering to an outsider (someone who creates a shell holding corporation to avoid having his name attached to the movement of significant amounts of cash moving across state lines is a pretty good way to meet some kind agents from the FBI).
It's never a good idea to try to outsmart the federal government – sure, they might not be the smartest bunch in the room, but they sure know how to hold a grudge.
Also read Tom Busby's book, Winning the Day Trading Game.
They'll give you a good primer. Fantastic books to get you started. After that, you'll have a much better sense on what and where to go next.
One option would be to work with a mentor. Todd Mitchell looks interesting at tmitchell.com or tradingconcepts.com for trading.
Though if you go to daytrading, you'll need to practice a lot more than a couple of weeks. Most successful day traders I know practiced at least months before being somewhat successful as there's all sorts of nuances, the shorter the timeframe that you trade in.
Let me know if you have any questions.
Hope that helps!
Although it may not be obvious, day-trading creates certain risks for brokerages and exchanges as well as the individuals doing the trading.
The higher account requiremens reduce the risks for brokerages and exchanges. For more information see
http://www.nasd.com/web/groups/rules_regs/documents/notice_to_members/nasdw_003881.pdf
Any person, website, company that is going to charge you for trading tips is most likely making more money on you than they ever will following their own advice.
The whole premise behind active trading is that the market is ineffeicient and thus, short-term opportunities arise to take advantage of such innefficiencies. The problem is that once an inefficiency is identified and gets mass publicity, it ceases to work as the trading/investing community starts to discount that information into the price.
What you need is education, not tips. Its the difference between being given a fish and learning to fish. Some strategies very well may work 80-90% of the time IN SOME SCENARIOS. But nothing will work 80-90% of the time in every kind of market.
There are really 2 main kinds of strategies out there.
1.) Those that work in a trending market
2.) Those that work in a range
The only thing these paid services are SOMETIMES good for is leads. Its up to you and your education & judgment to determine if these leads are good enough to implement with your hard earned cash.
But in order to decide this, you must have some method that you are consistently using to discriminate between what makes a good and what makes a bad trade. If you are not willing to take the time to learn this, then you should simply put your money in an ETF and/or mutual fund and be happy with getting your 8-10% on average.
If you are willing to educate yourself there are a number of resources available to you.
http://www.EliteTrader.com is a thriving community of traders where you can get brokerage reviews, vendor reviews, educational material reviews, etc…well worth looking into.
http://www.WilyTrader.com is a blog where you can see first hand what it is like to be an active trader and get a feel for the different kinds of strategies that are necessary for success.
http://www.traderfeed.blogspot.com is Brett Steenbarger's website where he talks about the psychological aspects of trading
http://www.Amazon.com : and look up the following books/authors:
The Master Profit Plan
Mastering the Trade
Brett Steenbarger (Get both of his books)
Trading For a Living
In short, just be very careful about any service offering you the sky. I guarantee you that such rewards to not come without great risks, and more often than not, those risks will come to fruition way before you see a dime of those rewards.
Hope this helps
~John
Otherwise, you must wait for the settlement of your previous trades before you can reinvest this money.