Hello, Im interested in "Day trading" and am looking into working through websites like E*trade, Scottrade, Ameritrade, I’m really interested in learning how to use these and websites and learning more about the stocks and trading, but I’m not sure where to look i was thinking about getting "Day Trading for dummies" "Investing for dummies" and "A Beginner’s Guide to Day Trading Online"
I don’t plan on making this my main job i would just like to make a nice sum of money on the side
-
Day Trading and stocks?
The CPA Guy 11:01 am on February 12, 2010 Permalink
If you want decent returns on your investments, invest in index funds that follow the S&P 500. Approx. 80% of all actively managed funds failed to beat the market indices. And these are funds managed by guys who usually have Ivy League degrees, years of experience trading, and large research staffs who do nothing but research stocks all day.
And of the ones that do beat the market, these funds rarely are able to continue this trend in the long term.
So people who actually think that they can beat the market by day trading, all by themselves, with little experience and no staff, are fools. They may THINK that they’ll be special and make phenomenal profits, but in the long term, nearly every single one of them gets burned and they walk away after losing a bunch of money.
Don’t believe me? Read the article that I linked, and read the articles that come up after you do a Google search "Do actively managed mutual funds beat the market?". If you still want to day trade after reading the linked article, you are a fool and you deserve to lose everything you own. If you decide on another career path other than day trading, you are a wise man.
Digger 11:01 am on February 12, 2010 Permalink
to day trade you need books on charts, it’s all charts on a 5, 15, 30 min trade basis – get a book like financial analysis of the financial markets
Party 11:01 am on February 12, 2010 Permalink
hi there !!
apart fro etrade etc..you should also try gnutrade trading platform. I sense that you are new to stock market and would like to suggest you learning center which will guide to learn what actually is stockmarket all about, how to trade the markets, how to analyze.
you can read some good books on trading like…
Day Trade Online Trading
by Christopher A.
A Beginner’s Guide to Short-Term Trading…
by Toni Turner
High Probability trading
by Marcel Link
Study Guide for Come Into My Trading…
by Alexander Elder
The Complete Guide to Currency Trading..
by Jamaine Burrell
The Five Rules for Successful StockMarket …
by Pat Dorsey
manish 11:01 am on February 12, 2010 Permalink
If you are a beginner then my suggestion will be don’t go for day trading. Because it looks easy but it is not…Study the market for two months minimum, do some research, get good knowledge and then only enter into day trading. It involves high risk.
DSIJ is coming up new online course related to stock market. It will give you immense knowledge because it includes practical implementation of theories.
For more details mail @ manish_10179@yahoo.com
Nifty Future 11:01 am on February 12, 2010 Permalink
Hey niftyfuture.co.in can be of great use to you, they give you free trial calls for nifty future
http://niftyfuture.co.in/
Common Sense 11:01 am on February 12, 2010 Permalink
Day Trading is the most riskiest of trading "types"….. almost as dangerous is "swing trading"…..
Swing Trading is holding a position over one day… usually for a few days or a couple of weeks.
This can be done while holding a full time job. Day Trading can’t be done while holding a full time job.
The "Dummy" series has several books that can help you (as an introduction… only). You must learn "Technical Analysis" and good trading money management before trading. 90% of the people that try swing trading fail. That’s because;
They can’t master the "art" of trading.
They fail to understand how important money management is.
They don’t take several years to "learn".
Arthur Keith 11:01 am on February 12, 2010 Permalink
For more information about stock market day trading and how to get started.
Check the link below.