Tools and DayTrading101 info needed
- Thread starter newcomer
- Start date
Hi Newcomer,
Here's my recommendation:
1. Use a DAT broker, preferably using realitick
2. Have a backup quote provider, like qcharts
3. have a backup isp
4. get some training (books, seminars etc.)
5. Pick a strategy that fits your personality
6. Use a simulator until you're successful for at least 2 months
Happy trading,
Sittas
Here's my recommendation:
1. Use a DAT broker, preferably using realitick
2. Have a backup quote provider, like qcharts
3. have a backup isp
4. get some training (books, seminars etc.)
5. Pick a strategy that fits your personality
6. Use a simulator until you're successful for at least 2 months
Happy trading,
Sittas
trade small: 100 shares. Do not increase your size until you can show consistent profits. All you are doing in the beginning is learning and education costs money. if you keep your size small you lose less and increase your chances to stay in the game long enough to learn how to make money.
spend a afternoon or a couple to go through the archives here. There are some excellent posts around, you just have to put a little effort in to find em.
spend a afternoon or a couple to go through the archives here. There are some excellent posts around, you just have to put a little effort in to find em.
I like TradeStation for charts and use it for stocks.
IB for futures until TradeStation gets it's act together.
For learning.... www.stockcharts.com is a good free site.
Go to the thread on Cathy's Chimp Charts for a simple system that works on ET. I also like The Surf Report on ET as he has quite a track record.
A good daytrading site is www.tradingmarkets.com for $195 a year. I learned a lot from it. You can get a free 2 week trial and see if it is for you.
IB for futures until TradeStation gets it's act together.
For learning.... www.stockcharts.com is a good free site.
Go to the thread on Cathy's Chimp Charts for a simple system that works on ET. I also like The Surf Report on ET as he has quite a track record.
A good daytrading site is www.tradingmarkets.com for $195 a year. I learned a lot from it. You can get a free 2 week trial and see if it is for you.
Quote from newcomer:
Hi, I am new to day trading, and need recomendatiotions for:
1. Best combination of Datafeed/ Software/ Brokerage ; and any other 'tool' for day trading.
2. Some basic DayTrading101 for a beginner.
Please help.
Sincerely, Dominik
When is the sales pitch?
1) TradeStation 6 (TS6) would take care of all of these, but I would not use them for brokerage. I use to like theTS6 software and datafeed alot, but recently, the quotes on the minis are horrible. They claim they will be ordering a direct line from the exchange at the end of this month, let's see...Otherwise, as far as brokerage goes, I woul choose Interactive Brokers to start.Quote from newcomer:
Hi, I am new to day trading, and need recomendatiotions for:
1. Best combination of Datafeed/ Software/ Brokerage ; and any other 'tool' for day trading.
2. Some basic DayTrading101 for a beginner.
Please help.
Sincerely, Dominik
2) I would say one of the best places to start as a beginner is to go to a daytrading firm like Bright or Echo an go through their one week course. Some people here have liked it, others say it is too elementary. If 101 is what you need, I would certainly say that it fills that bill.
nitro