Tom Said:

Best way to learn day trading from home?

We Answered:

I day trade frequently.

It is a commonly held misconception that you can learn to day trade via published materials. This is why most day traders lose their money and defensively complain about market manipulation. Periodicals abound on the subject because there's money to be made putting out nonsensical reading materials, all of which purport to prepare the buyers of such materials for an unlimited earnings career. It is absurd, to say the least. And some Internet pitches go so far as to spiel a half page of utter nonsense such as you'll find on this page from another responder.

There is just one way to become a profit-oriented day trader:

Pick a bunch of stocks that show decent volatility and get to know them as well as you do your own face. This means track every last news item out there on each pick. Track the volume changes throughout the day, hour by hour and more if your lifestyle permits. Log into a journal the opening bids, the last price of the closing trade and highs + lows of each trading day for each stock pick.

When the market opens in the morning, you must be able to see in an instant where the opening bid sits and recognize the difference from the previous close. Decisions to buy or sell or maintain positions must be quick as a flash.

Day trading is most profitable when you see the news unfolding and know the trading ranges well enough to anticipate trend reversals. Then it's a matter of your ability to relate to momentum within the confines of trading and incorporate this with an intimate view of volumetric changes.

For day trading to succeed, you need an account balance of $25K along with the aforementioned Information. You also need excellent math-on-a-dime skills plus strong instincts so that you can successfully anticipate how the general public will respond to unfolding news affecting your picks.

This is a difficult process for sure but it keeps me on my toes every minute of every day. For relief from the tension, I respond to questions here and also do lots push ups and stationary bike riding, anything just to relieve tension and provide a healthful outlet for nervous energy.

Whatever you decide to do, understand this is a journey that tries the quickest minds and calls for great instincts. Along with day trades, I also hold positions in some longer-held picks that pay high quarterly yields, as financial protection. And I do a lot of swing trades where I will regularly buy and sell stocks I've had for anything from a few days to a couple of months.

You might visit www.investorshub.com and examine the home page where there's a list of most popular day trade vehicles. I would never recommend trusting anything there but at least you'll be introduced to picks being promoted by very active traders.

Good luck to you!

Len

Tracy Said:

What are good sites and/or books to learn about day trading?

We Answered:

How To Day Trade For A Living How to choose stocks to trade. Order types to use and when. Complete entry, exit and stop rules. Risk management and averaging. 6 different step-by-step examples including several charts to make it easier to follow along.
I saw that at this site.

Clifford Said:

What is the best way to learn options trading and day trading?

We Answered:

Here's a free site which i use from time-to-time:

http://888options.com

You can also find out a lot more info about trading and options on these free sites which are recognized by Y! A as "Knowledge Contributors"

http://investopedia.com

AND

http://yahoofinance.com

As far as "day trading" is concerned:

THE BIGGEST challenge is having $25,000 CASH on-hand in a trading account at all times. This does not include any trades or positions. This is cold, hard cash.

Once the balance goes below this, certain restrictions are instituted.

Thanks for asking your Q! I enjoyed answering it!

VTY,
Ron Berue
Yes, that is my real last name!

Marc Said:

Any good trading forums or websites to learn about day trading?

We Answered:

The world of online help with day trading is mostly filled with scams. My suggestion is to learn how to swing trade first. A little less risk (still very risky). Keep in mind, 95% of those that try day trading fail. Of those that make it past the first year..... they really don't become successful for 2-4 more years.

In order to trade (swing or day) you need to learn;
Technical Analysis
Trading Money Management
Psychology Of Trading (yours and the markets)

The first two are absolute musts. The last (psychology) will take a good trader and make them very good or better.

There are many books you can read;
http://joefahmy.com/2010/03/17/recommend…
http://www.marketfolly.com/2009/02/techn…
http://www.shadowtrader.net/educationArc…

I've read about 2/3rds of the books listed in the links above.

Also check out: http://www.stocktwits.tv/
Watch videos by:
Brian Shannon
Joe Fahmy
Leigh Drogen
John Lee

Louise Said:

Where can you learn day trading. Are there any good websites that let you practice?

We Answered:

I've used this

http://www.gftforex.com/land/?aid=2217&O…

Claudia Said:

Need advice on where to learn Day Trading & Spread Betting & best home software in the UK?

We Answered:

you could just send me all your money instead, it would be quicker!

Suspect that if it is in a book it will fail because of the pump & dump scam. The successful traders will know about such methods and will deliberately game them, thereby helping themselves to your money.

Other than that, stick only to volatile stocks, and good, er, luck!

Florence Said:

What school or person is good to learn Day Trading?

We Answered:

Don't waste your money.

All you need to know is buy low sell high and sell high and buy low.