community, teach me how to trade.

ashantt

ashantt

So, I've decided I want to start day trading and I would appreciate some help from the pros here.

1. Can I daytrade with an account on scottrade elite or should I be setting up an account with someone else?

2. Is the Scottrade Elite software good enough to trade frequently? Or should I be looking somewhere else. What software do you guys use? Do you know of any reliable software for Macs?

3. Why does one need to pay a monthly fee to some software makers? Is it for the charts, the info or is that how this industry works? Can't I just buy it at retail or download it?

4. As a novice trader what is the best way to learn even before I paper trade? Do you know of any classes in the NYC area?

5. Is 25K the minimum to start a daytrading account?

6. What's with these 5K capital deposit required Prop trading firms in NYC, will they teach me to trade?

Thank you for your time.
 
Well, I should have phrased that better. I'd like to learn to trade be it may day or swing so that I can do it full time, 5 days a week.

Thank you for your comments.
 
Quote from 530HudsonSt:

What you need is a live trading room. www.puretick.com is the best out there right now. Come on down and try it out.
More...

Be gone spammer. The only thing he will learn from pureshit.com is how a fool and his money are soon parted.
 
if you are looking for help from the pros, try looking elsewhere.
i don't see too many pros here. i do see a lot of people trying to sound like pros, with varying degrees of success.

but if you want to get a good laugh now and then, this may be it. people here have a good, often rude, sense of humor.

for a thorough review of various trading methods, excluding options, get kaufman's 'new trading systems and methods'. it's boring, but honest. any "invention" or "insight" you may have has probably already been tested by that author.

also see my reply in the following thread:

www.elitetrader.com/vb/showthread.php?s=&threadid=165242

remember, psychology is very important. try to get as much FREE stuff as you can. i have not yet found any paid course or tutor that would match or surpass an equivalent FREE tool.

again, psychology. our past fears often prevent us from accepting stuff that is free, we feel guilty, we look for pleasure and punish ourselves by using stuff that is not free. the right thing to do is get as many free tools as you can . . .

examples: ninjatrader. tim knight's slope of hope newsletter etc. ..

often FREE is better
 
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