How to start day trading?
November 26th, 2009
I want to start day trading, but I have virtually no experience with stocks. I’ve done a bit of research on it and I really want to get real time feed to test my strategies. Is there a way to get real time feed of the markets for free? And if not could I just open and account and and watch for a month or so with no penalties?
I know all the brokers that cater to internet traders. I need a broker that provides direct real time access. If its for free, then great but even in a demo form, or if i open an accound with their account minimum. I would just like a way to get real time data so I can make hypothetical trades..
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Posted in Stock Market Basics | 
Tags: amp, day trading, demo, internet traders, real time data, stocks, time feed, trades
Fidelity provides Active Trader Pro free for investors with large accounts. It includes real time quotes, with a number of other tools.
More sophisticated Level 2 data is available. See Online Academies online tutorials and consider attending a class.
Use practice sites for an extended period before getting started with real money.
http://www.etrade.com
http://www.scottrade.com
http://www.gorillatrade.com
You can go on http://www.thestreet.com com and open an account with play money to see how you would do. Also on that website the give good stock picks as well. From their if you are comfortable open an account up and go for it.
I don’t know the answer to your question, but I have a caveat: I have several years of experience personally investing in stocks. As a student, I have met and been taught by many professors of business, finance, and economics, as well as the CFOs of two Fortune 500 companies. I have never met or heard of anyone who got rich day trading.
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With regards
Start with longer term position trading and then progressively shorten your time frame. Day trading moves too fast for someone who is not familiar with the market to learn about order types and investment terminology.
I´ve been investing for more than 20 years and trading for almost 14, and I can tell you that if you want to make BIG and FAST profits, I recommend you trading rather than investing, trading can help you to go from rags to rich.
If you are investing, you must have already achieved some degree of financial success, long term stock investing and FOREX can help you become much richer than you are today.
My experiences as a Nasdaq Market Maker, Head trader of several brokerage firms, and currently as a professional trader and private hedge fund manager, I can suggest you that:
We trade because we want quick, short term profits on a consistent basis. We want to cash flow the market. Milk it like a cow.
Make consistent, small, short term gains rather than trying to hit a home run on every trade. Don’t ever forget that.
Don’t marry a stock, marry the idea of making money trading stocks. That’s the only way to do it.
For me "All stocks are equally worthless”
I don’t hold on to any illusion that the stock market will continue to go up and provide a nice retirement for me.
I could care less which way the market goes. It’s irrelevant to me if the market goes higher, crashes or moves sideways for the next 50 years. I really could care less. Stocks are just four letters with two prices next to them that I use to make a living trading.
Trade ONLY when you have a clear, easy and identifiable advantage, because without a CLEAR EDGE your odds of success are NO better than a flip of a coin… That´s why so many new traders (and investors) lose money.
Take a look at any daily chart of any index or stock and you’ll probably see the most volatility and the biggest opportunity for profit during the first Hour of the stock market’s opening.
The popular thinking and conventional wisdom is that you should wait about an hour before you start trading.
But if you do, you’ll miss the big, fast moves that stocks make as all the amateurs let their emotions out through their
online accounts, usually right after they read some news headline or hear Maria Bartiromo go off about a stock on CNBC.
It’s easy to see why trading the open is the market’s prime time for profiting from other online traders.
The market’s open is very volatile - that is the perfect environment for LARGE, FAST profits.
Learn to trade as a professional Market Maker ,not as an emotionally driven amateur trader or investor with few thousand dollars in an account at Etrade.
There isn’t any other time during the day or any stock you can invest in, that can make you 1, 2, 3, 5, 7 or more points
in minutes OTHER than during the first hour the stock market is open. That’s why I love trading the open so much.
I trade only when I have an edge and that means "only the first hour the market is open".
If you are a beginning trader, you can give yourself an unfair advantage in the market trading this way.
I can carry on with the advises about how to make money trading, but if you ask me:
"What is the best thing you can do for me?
I will say:
Give yourself a BIG favor and go to this "Top Secret" site and learn how to get the BEST stocks that will make the largest and fastest day trading profits you´ve ever seen…
http://www.onehourtrading.com
After you review this site you won´t need system, strategy, book, software or mentor to tell you what to do,
you will be able to profit HUGE every day.
Good luck and good trading,
Jonny