Where can I get good info on day trading and what discount brokers are best for day trading?
2007-03-18 10:52:53 · 6 answers · asked by Chris M 1 in Business & Finance ➔ Investing
The game of any stock trading is to MANAGE the risk first before seeking ang gains. This has nothing to do with diversification.
Ask yourself how much money you can get back if the stock market crash. This will help you NOT lose your $$ easily.
You may say me ULTRA conservative, but I view it is very important for any investors to invest their $$ responsibly.
Take a look on Google, this stock can lose 90% of its value if market is collasped. The cash per share is less than $37 without any debt. In the worst case(like wars and major economic disastous), the investors are willing pay $37/share.
You need to keep the powder dry, keep 20% in cash and 5% in QID(Nasdaq Ultra Short) or BEARX(bear fund) to protect your investments during sudden drop in equity market.
You only can trade 75% of total. Trust me, this will make you sleep very well during the night.
2007-03-18 16:28:17 · answer #1 · answered by TLIUALL 3 · 0⤊ 0⤋
I day trade and swing trade some times and very rarely momentum trade. the broker I use I have found to be the best for this.I also highly recommend reading A Beginners Guide tto Day Trading Online by Toni Turner.
First of all you need to learn to play the bull market then you can learn to play with the bear market. Never ever be a hog and put all your money in one stock you will loose too much. I can help you with this a bit I have read a few books and have learned alot and I started 2 months and two weeks ago with $200 now I am at 600 now I was up to 700 but the feb 27 correction took me down to 500.You must get Stock Investing for Dummies, and 24 Essential Lessons for Investment Success these books are worth every penny.Also you are going to want to set up an online account to better understand what they are talking about in the books you will have visual picture. do not set up margin account I have the best online broker there is and they are very cheap. If you email me I will send you right to them and let you know how to set it up and you don't have to deposit money till you are ready. my email is franksprung@yahoo.com I am more than happy with there service. I can help you out finding the things you will need to know on the site. It is almost impossible to loose all of it in one day. Most likely you will make money if you educate yourself.
2007-03-18 11:59:14 · answer #2 · answered by franksprung 3 · 1⤊ 1⤋
Day Trading can be hard at times but can also be very rewarding. I own a trading firm with about 20 traders, if your really interested in trading for a living send me an email, tlanzana@rematatrading.com
2007-03-19 09:28:17 · answer #3 · answered by phantomtrader2 2 · 0⤊ 0⤋
go to the free section of pristine.com, and read every free article there. I personally like the books... master day trader by velez and capra.. nison books for reading candlestick charts.. Trade Your Way to Financial Freedom by Van K. Tharp for money management.
Brokers... if you're serious, you'll want a direct access broker. www.interactivebrokers.com has great executions. etrade is fine to start w/ combined w/ a good charting software.. I use iqchart and esignal.
mike yourtradingstock.com
2007-03-18 16:36:37 · answer #4 · answered by Mike D 1 · 0⤊ 0⤋
I am a Stocks day-trader, if you want you can contact me by yahoo messenger, my id is "claudiofahmy".
2007-03-18 11:32:28 · answer #5 · answered by Claudio F 1 · 0⤊ 0⤋
http://www.forexaim.com
Amazing! I learned alot!
2007-03-18 11:04:45 · answer #6 · answered by m2cgbldlr 1 · 0⤊ 0⤋