Who is the best company to do day trading with and why?
I’m interested in dabbling in some day trading. I don’t have a lot of money to invest, but I’d like to change that. Who would be a good company for a relative novice to get involved with – meaning cost, minimum investment, speed of trades, and stability?
Trading indicators are best used along with money management and good risk control, using trading indicators alone will not enable you to be a successful trader, even if you learn everything about day trading the market is just too random and unless risk is controlled, over time your account will slowly get wiped out, regardless how good a “trader” you think you are.
This question was about day trading and there have been some pretty good answers that should help in your trading, and especially in relation to day trading, the answer has been posted in the categories listed below:
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- What school or person is good to learn Day Trading?
- Why did the SEC put restrictions on day trading and buying with unsettled funds?
- What constitutes a day-trade as it pertains to the SEC day-trading rule?
August 1st, 2010 at 12:13 am
If you have less than $50k in ‘fun money’ to do day trading with you need to invest, not gamble… day trading is gambling.
Don’t be one of the fools that lose their house over some bad trades.
If you are a novice, you need to start withpaying off your debt then a Roth IRA and a mutual fund.
August 1st, 2010 at 12:13 am
Day trading is now over…you just can’t do it any more.
August 1st, 2010 at 12:13 am
I like ameritrade because they have a great stock screener and great streaming free quotes. prices are reasonable too.
papertrade first. stock-contest.com has a great free site that allows you to papertrade without knowing lingo or being advertised at.
August 1st, 2010 at 12:13 am
All major brokerage firms provide their clients with on-line services, including trading platforms, latest market & financial news and research.
Customer need to select the site that is best for them. Traders have requirements in a site, while investors have other requirements.
Although most sites are geared to general securities and commodities, however customers may have special needs for the types of products they trade, and the markets in which they trade.
However, novices should not be day trading, if they do it is certain that they will loose their money.
Also, if you do not have "a lot" of money to trade, you should not be trading, and defiinetly not day trading.
All firms are subject to the same rules and regulations governing the buying and selling of securities and all have basically the same type of trading platforms which makes their order entery, execution and reporting the same.
The most popular firms for on-line investing and do support day trading are; Scottrade; Chas.Schwab; TDAmeritrade; Fidelity; E-Trade and Thinkorswim.
You should consider, as a novice, using the full services of the firm including going through a sales rep since on-line services are geared to making it expediate to use a firm’s services and not for education