Best Day Trading Software

Posts Tagged ‘virtual trading’

Ok I am new to this and I figured I would ask some people online even though my dad worked on wall street and my grand pop made a lot of money investing in the stock market ( yeah yeah I know your all going to say ask them however my grand pop told me something which went like this Don’t listen to your father or my suggestions if you lose money because we made your decisions you learn nothing if you lose it because you decided to invest in something you learn what not to do. So I am trying to take his suggestion) So the question is not what stocks to buy but what website to use for online trading.

I did a google search and found this website and I think it’s the most informational.
http://online-stock-trading-review.toptenreviews.com/

I was mainly looking at the first 2 however I am pulled away from the first one because the Tiered Commission Structure is checked.
I am pulled away from the second because it doesn’t have the Virtual Trading options, which is like a simulator and I kind of want that so I can see what others think.

I also noticed for the first one it says
"There is no minimum investment required to open an account with optionsXpress. The commission is .95 or .95 on all orders, including broker–assisted orders; this is excellent considering most brokers charge for assistance. optionsXpress charges .50 for each options contract."

I am confused on this statement of "The commission is .95 or .95 on all orders"
So it is saying we are taking at least about 10 dollars each time you make a trade.

Thanks
Just what one do you feel is the best option to use?

Technorati Tags: dad, Decisions, google, google search, Investing In The Stock Market, minimum investment, money, Money 98, Online Stock, Online Trading, optionsxpress, People Online, Stock Market, stock trading, stocks, suggestion, tiered commission structure, virtual trading, wall street

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I have been on www.howthemarketworks.com for about 3 weeks now. I started with ,000 in virtual money and am randomly choosing stocks between {content}.01-{content}.05. I have seen incredible returns….almost 100% in two weeks. I check the account each day when the market closes and sell off anything that made money.

How close would this simulation parallel trading with real money? My thinking is that it would not be too accurate. Everytime that I purchase a new stock to replace the one I sold, I buy 00 worth. This generally amounts to over 100,000 shares which seems like it would have a significant impact on the stock price in the real world. If anyone could offer some guidance I would greatly appreciate it.

Technorati Tags: guidance, Howthemarketworks, Money 97, parallel trading, penny stocks, real money, Real World, significant impact, Simulation, Stock Price, stocks, trading stocks, virtual money, virtual trading

• Do you have to purchase stocks on margin to be considered a Pattern Day Trader by the NYSE? I'm a small investor, a very small investor. I have devised a range trading strategy which only requires two trades per day. My initial investment will be 0, through a cut rate online brokerage. I understand that the NYSE and the NASD, require a minimum of 000 in the accounts......
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• Best Online Broker to trade with? What online brokers do you guys recommend? I heard good reviews with Scottrade and Firsttrade, and bad reviews for Etrade and Zecco.TDAmericas charges about 9.99$!! I was thinking about Sharebuilder which has only a 4$ per trade fee? Any suggestions? I am looking for a good quality and low fees.......
• Day trading expectations? I am going to start trading this summer. Is it too unrealistic to ask for a 1-2 % profit ratio a day? I am with an online brokerage account and the comission fees are a dollar minimum per trade with a penny per share. Transaction costs are basically zero and......
• Can non-US Citizen buys stocks online? I am an International Student. I do have SSN but I am not a permanent resident. I was wondering if I could open an account to purchase stocks in places like eTrade, or Charles Schwab. Also, I am not working at this moment, so my income is close to 0.......
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• Day trading ETFs? I'd like to trade options on some some ETFs; QQQQ, DIA, SPY, IWM. I'd like to stay focused on a few stocks and trade when they move. I'd prefer not to trade on news; just the technicals. I use options so that I do not have to risk that much......

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• Powerball AU 40 million Tonight's Powerball Jackpot of AU $40 million is the biggest ever offered on Australian Powerball. If one person wins the entire $40 million Jackpot, they will become Australia’s largest ever lottery winner! It is good value to have a go today, even if they are hard to pick. The Saliu......
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Im new to stocks i haven’t ever traded online. However i have used many virtual trading programs and i have a good concept on how trading works. I believe i am ready to start the real thing. Im attracted to brokers like zecco because they say they have 10 free monthly trades and about 4 dollars for each trade after that. However it leads me to believe that they must not have many good services for customers. Then i looked into trade king. Because they seemed to have better trading tools and service, still with a low commission fee. However since i haven’t ever traded online im not familiar with the problems im going to face. Please recommend me a internet broker i should use. Thank you for your help.

PS. I have 00 USD to invest, loosing this investment isn’t that big of a deal to me. My main goal is to learn. and excuse me for my spelling errors I typed this fast. =)

Technorati Tags: best online stock broker, commission fee, Excuse, internet broker, main goal, Online Broker, online stock broker, spelling errors, stocks, trades, trading tools, virtual trading, zecco

• trading stocks: what do you think of my strategy (im new)? I'm new to trading stocks, I have been "mock trading" online at this website where everything is real...except the money of course =). I have been meeting all of my goals so far. I'm too afriad to trade multiple times a day, it's too risky for me...with the whole 15......
• Buying stocks using an online broker.? I was wondering, if someone uses an online broker, and the were to be a day trader and invested ,000,000 a day on stocks, would they be able to get all the stock they want? or would the online broker not be able to get all the stocks that this......
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• Are there any websites where I can see world records for currency trading? Such as most consecutively profitable trades, highest % profit of all time on one account, most overall profits in an hour/day/week and the most trades without a loss. My record on the practice account I started a while back was 4/4 profitable trades with a total profit of about 3%.......
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• What do you think about daytrading? I'm 24 and in college for engineering. I'm very good a math and the charts and technical analysis comes very very easy to me. I have been using www.freestockcharts.com to paper trade. Although I am good with charts, I feel too confident with everyone saying that it is so risky......
• The stock market? I would like to start buying, trading , and selling some stocks but I don't know anything about the stock market. I've been to a couple of site (like eTrade and Nasdaq) but all the charts and the rising and falling in the percentages are just confusing to me. Right......

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• Powerball AU 40 million Tonight's Powerball Jackpot of AU $40 million is the biggest ever offered on Australian Powerball. If one person wins the entire $40 million Jackpot, they will become Australia’s largest ever lottery winner! It is good value to have a go today, even if they are hard to pick. The Saliu......
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(Note: I have real money experience with options going back to 2000, first covered calls in my IRA and then long calls in my cash account though no day trading experience with real money. I have the 25K to park in an account to satisfy the pattern day trader rules and another 10K to make the actual contract purchases.)

I have a job that allows me to keep an eye on the real time stock market. Starting in January I started playing with the Virtual Trading engine at OptionXpress, daytrading options on SPY. My strategy is rather modest; I buy 5-10 ITM contracts, either put or call depending on market direction, and sell when I see the trend reverse. I chose 10 contracts because I believe that with an order size that small, if I submit a sell order at the bid it should fill immediately unless the market is moving very fast allowing me to lock in a profit if the trend reverses. I open one position at a time, I never leave my desk with an open position and I am 100% cash at market close every day. I use SPY because being a basket of 500 stocks it is buffered from sudden drastic moves in price giving me time to get out of a position with minimal loss if the price goes the wrong way on me. My immediate goal is 0 after commissions per round trip, a target that requires only a {content}.15 move in option price. I don’t always guess right on direction, 4 out of 5 is typical, and I am netting between 0 and 0 a day on 6-7 round trips. My 00 initial play money stake has grown to about ,000 since 1/19 when I started doing this seriously. I won’t get rich doing this but over the course of a year that is an extra person’s worth of income for my family. If it lets me do nothing more than pay off my house and fund future college for my 3 kids it is worth it.

Now that I have proven to myself that this seems to be a reasonable strategy I am trying to understand what I can do better and am now in the area of "I don’t know what I don’t know." I know about Level 2 quotes but if these are something that can help me I am not clear how to use them. I know that there are all sorts of indicators that technical traders use but I don’t know if these scale down to the day trading level. I know about the existence of the Greeks, and while I understand roughly what the numbers and equations mean, I don’t know if these will help me on positions lasting 15 minutes or less.

My main interest in posting this question is to find out if there are tools I can use to help me make better choices about getting in or out of a position or tell me more about what the market is doing. This strategy seems to be working okay and if I can translate this to real money I will consider myself successful. I don’t want to be greedy but I certainly would like to know if I can do what I am already doing more effectively.

I spent time on 888options and optionetics.com but it seems much of the content out there deals with strategies like spreads, butterflies and condors, things that simply don’t apply to what I am doing. I know there are options day traders, even some specializing in SPY, who read these questions, and I’d be appreciative if I even had a list of books or even just some things to go research and learn about that you have found helpful in your experience.

Thanks for reading this far and any help y’all provide.
I definitely understand the problem with fills; in fact, I asked a question about that here the other day. I had noticed that I could put in a sell at a price like 3.10 and a minute later see a bid/ask spread of 3.15/3.20 with my sell order still open. My only thought was "What the ****?!" I was told by another answerer that in reality, on an order that small an ask below the bid would never stay open on something as liquid as SPY.
Regarding filling at the mid, on SPY I could live with this. The options on SPY move enough intraday that even if every buy order filled at the ask and and sold at the bid I’d still make money because I am looking for moves of .15 on options that can move .30 or more in a short time. I’ve gotten good enough at picking the trend direction that I will buy options that are 3 or 4 points ITM. This gets me my .15 or more move with only a small move in the price of SPY.

Technorati Tags: 25k, commissions, contract purchases, contracts, covered calls, day trading, daytrading options, ira, Job, market direction, minimal loss, Money 97, money experience, open position, option price, pattern day trader, play money, quot, real money, Real Time Stock, spy, Stock Market, target, Trading Options, Trend, virtual trading, wrong way

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