i lost 30 000,00 around four year ago but i know that i can make money day trading i just need the knolege . could you please some information
Visit http://www.genphn.com they have a complete training program for professional traders. this link http://www.cme.com/edu/etrans/mem/etcres… will take you to the Chicago Mercantile Exchange's educational resource page; you can find good training programs there as well.
I am not in favor of frequent trading, since I think the people that benefit most from it are the brokers who get paid the commissions. I think they try to make it seem really cool, but studying have shown no benefit to frequent trading.
The best approach is to study the market. look carefully at stocks that are undervalued, that are growing their business. Then you buy and hold. you watch the stock for a few months. as long as the company continues to look good you hold, otherwise you sell. but you are always looking for the stock of the future. Try to understand what our future needs will be, and invest in the companies that will meet those future needs.
I think a great way to find great investment ideas, is to see what the best investors are buying and selling. you can find this information at http://www.top10traders.com – this is a free site that lets you create a portfolio of stocks with $100,000 in "play" money. each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. you can also read posts on investing from the best traders, as well as share your own investing ideas. There is also a charting feature , so you can see how your portfolio performs compared to the S&P 500.
Here are this month's best traders:
http://www.top10traders.com/Top10Standin…
Good luck.
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Tips and Tricks for Day Traders
Day traders buy or Sell Stocks several times every day and close out all positions before the market closes.
The expectation of Traders is making small profits with as little risk as possible and they simply look for potential price movement Based on Technical Analysis.
Plan your trade. Trade as per your plan.
Select your Stock, Decide the Quantity, Decide the entry and exit price and Decide the amount of money you can loose if the trade goes against you.
Trading in Opening and Closing hours of the market is Risky but Rewarding.
Use a stop Loss
Always trade with stop Loss. Set stop Loss Sell Order just below the low of the day or Support level and stop Loss buy Order just above the high of the day or Resistance level.
Never Trade too many stocks at once
Always trade in High Volume Index based Shares.
Select Three or five stocks for Trading.
Get the price movement between the bottom and top
It is not possible to buy at the Bottom and Sell at the top.
Try to trade between the Bottom and top.
Buy a stock
Always buy a stock that is going Up. Buying level is just above the previous closing price.
Short the stock
Always sell the stock that is going down. Selling level is just below the previous closing price.
Don't average Your Position
One common mistake by Traders is averaging Loss making position. you must exit if the trade goes against you.
Take control of your greed
Book Profit and leave the trading hall and enjoy the day.
Take control of your fear
Cut your loss – Relax – Forget your loss quickly. Wait for next Opportunity. you can Win.
Keep records of your trading results.
Always record details of your trades and mistakes. Accept failure as a step towards victory.
