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Do you mean $0.30 or 30% envelope? What envelope do others use? Thanks. [rwk]

IB has a free API for building your own automation. If you can do it, I recommend automation over chart reading. See Evidence-Based Technical Analysis by Aronson for more discussion. Unfortunately, as a prior post mentioned, you need at least $25k do to daytrading. That is a NASD...

I am not a big believer in paper trading. It's fine for learning to use the software, but it is dangerous for learning to trade. It tends to make trading look easier than it is. When learning to trade, nothing beats putting real money at risk -- but keep it SMALL.

Interactive Brokers has what you need. Unfortunately, they are not very suitable for beginners. Margin account gives you immediate access to funds when you close a position. IB has an margin account for individual retirement account (IRA) that gives you immediate access to funds but without...

I often place MOO and LOO orders for NYSE stocks though IB. I specify OPG, SMART routing, and not extended hours. I have never tried submitting the order the previous day. I always get execution at the NYSE open. Quite often the open is different from the open price shown by the quote...

My experience has been that the official opening price is generally unavailable. I think NYSE gets the opening price they display on their Web site from a quote vendor. The quote vendors typically show the first trade after 9:30am as the open.

The anxiety you are experiencing is completely natural considering that you are just starting out. The cardinal rule for this stage of your trader development is to keep it small. But you are not a trader until you actually put money at risk. Avoid spending too much time on a simulator...

The proper number of trades is highly personal. The important questions are: 1) am I profitable, and 2) is the pace sustainable? If you're not profitable, or you feel stressed out, you may be overtrading. If you can answer 'yes' to both, you might try cranking up the heat a little. But don't...

There are plenty of people on ET who make money every day, and I am sure some will post shortly. I am not one of them. I day-trade, and I make money consistently, but I have losing days, weeks, and even months. I have not [yet] had a losing year. Beginners often equate making money with...

This is a story I had not heard about previously, but after reading up on it, I don't think it will turn out to be a bombshell. According to Wikiwedia (http://en.wikipedia.org/wiki/Natural-born_citizen), there have been three candidates born outside the US: (Goldwater, Arizona when it was a...

Years ago I tried to help a good friend get started trading. That is the only time I have ever shown actual trading statements to anybody. Proof that it could be done was my biggest "tip", but it wasn't enough. My friend just didn't have the right psychology. It was a shame because we could...

Jerry, I think you are at least partially right. I have been saying for a long time now that if we do the same things everybody else does, we will get about the same results. Where I disagree is that simple, rule-based concepts can work. I have been making a living at it for over four years...

I presume you have checked out Interactive Brokers, but I thought I would mention it just in case. When I first started, I thought it would be a lot harder to program that it turned out to be. It does require programming ability, but if you have a lot of sophisticated code, the added coding to...

That's pretty hair-raising, but not entirely unprecedented. The government bailed out Chrysler years ago, although taxpayers ultimately got their money back. I thought then that it was a terrible idea to reward bad management that way. Considering that this is an election year, anything can...

The nonsense threads are easy enough to ignore. What I hate are interesting posts where most of the responses are nonsense. What keeps me coming back are those very few nuggets that I can use. There aren't many, but I will take what I can get. I try to make my posts worthwhile, but I...

The TWS demo has a fictitious data feed, but it has the advantage that it works 24/7. I don't use WebTrader, but I suspect you are seeing the same dummy data feed as the TWS demo uses. There is also a paper trader, available to customers only, that uses live data and give [fairly] realistic...

I tell them I deal crack cocaine to school kids. It explains the nice house and car and why I don't go to work in the morning like everybody else. I'm sure they would hate me even more if they knew the truth. . .

Abandoning a house is called "deed in lieu of foreclosure" and counts about the same toward loss of credit rating. Whether the lender has recourse depends on the facts of the case and state law. In many states, a purchase-money mortgage (loan taken out at the time of purchase) is a...

I don't think they would do that if they could get a better price somewhere else. But if the price is the same, what does it matter?

You might have a look at Telechart. It isn't free, but you can get a free trial that (I believe) includes their database going back 10+ years. With their database, you can export data. http://www.telechart.com/default.aspx