Day trading sounds like something I’m interested in.?
January 3rd, 2010
Is there any books or resources I can use to get started?
It seems to be something I’m interested in since I spend lots of time on the computer.
I know it is very risky but I want to give it a shot.
My dad used to day trade but gave up.
any useful info for a person who knows very little about trade?
Wrenched, This is why I asked for books and useful info.
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To day trade successfully you are going to need to do a lot of home work. I would understand the book "Against the Gods: The Remarkable Story of Risk". A lot of people have read this book and do not understand it you may have to read it a few times over the course of a few months.
Get a practice account and start making trades.
Watch charts they have a feel to them. There are some chart schools on the internet and they are ok but nothing like watching a chart and trying predict the movement in the market. This art is like riding a bike. I have never seen a manual of how to ride a bike but you can do it with practice.
Also watch trading action.
Study Jesse Lauriston Livermore.
don’t trade until you understand what you are doing and how the market works.
well I would get started by reading some simple books like "Day Trading for Dummies" and similar topics. You can find these under the finance and business sections of Barnes and Noble or whatever bookstore you have.
Honestly though Day Trading can NOT be just a hobby. Its way too risky at that point. If you can’t devote at least 8 hours a day to it, just stick to investing for long-term or a savings or annuity. If you only look at a stock a few times a day you are missing out way too much, and at that point it becomes gambling, not trading.
I honestly put in the time for the market open to close. An hour or two before open, and a few more hours afternoon til night. The news channels become your favorites, and it really becomes time consuming, but for me its a lot of fun because I’m really detail-oriented, and am willing to put in all the hours.
Here’s what I suggest, find an investment club to join. Those aren’t day trading but its a great way to get into the market know-how. Plus you’ll have a bunch of people to go through with. Some experienced some beginners.
but yeah just let me know if you want to learn some specifics about trading.
emcoppens@yahoo.com
just visit http://www.deepakagarwaltrade.com.
day trade, you need at least 25k cash in ur trading account, and it has to been a margin account. it is very risky, you can lose all, and you can win a lot. if you really interesting in daytrading. Personally, I think Sogotrade is best among all online brokerages. You can get a lot of free trades: about 100 free trades with 500 minimum deposits. It has very good customer services, it also has live help, and you can chat with representatives about any question. After that, only 3 dollar for each trade, pretty sweet when compared with other online brokerages.
Referral code: 453934
If you really are serious about making money in the market daytrading send me an email. I’m talking about learning the basic in’s/outs without all the BS you see all over the internet.
I found an awesome trading mentor a few months ago and has really improved my overall game.
Also, you can day trade stocks or futures and there’s tax implications you will need to know before you get started or you will get screwed when tax time comes.
If you want to talk trading hit me up.
cheers
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