trading tips that you have?
How do I research stocks? How do I make statistical analysis? What programs should I use? How much money should I start with? If about 50% to 90% of people fail in day trading, how do I learn how to day trade and succeed? How much capital should I start with? Which news sites should I follow? Should I follow news feeds for the stocks I am invested in? Which books should I study? Could I make my own quant fund? When I see top gains or losses on a stock news Website, is that for the day or week? Could I get a job and develop professional career out of this? What college degree would this correlate to? Which college is the "best" for investing or finance? Do I need a special computer? Should I use web based software provided for free or should I spend money on so-called professional software? Are there any websites that discuss these topics in a professional way and not a sales person type way? Any books that I could read on this topic that you recommend? Sorry about the many questions, I was brainstorming. (: Thanks for the replies.
Best Answer:
Research: get the daily figures for at least the last five years for
virtually everything in the stock exchanges you'll be investing in. It
might cost you, but it's worth it in the long run.
Analysis: There's many ways to analyse. What you want to pay particular attention to is the highs,lows, opens and closes of the stocks, the daily volume, the p/e ratio, the yield and the volatitility. I prefer using candlesticks as a starting point, but there are dozens of indicators which can show whether something is a good "bet" or not.
Programs: I've used a few. the easiest to use was one called "Metastock". I think they're still around. However, you can go much the same thing with a spreadsheet and a database. And, of late, I've been tending to use "gut feel" along with the candle sticks. Get a book on candlesticks, and it'll show you some relatively easy ways to make decisions.
Money: It's best to start off with at least $10,000 - anything less gets a bit too risky. Most people who lose money on the stock exchange are people who don't have enough to "play" with. This fits in with the 50% to 90% you mention - except when there are bear runs or bull runs, half the stocks tend to go up and half tend to go down. The more you can start with, the better. With only, say, $1000 to start, you are limited to the number of different stocks you can buy. If you have, say, a dozen different stocks that you think will do well, six will go up and six will go down. If you buy all of them, your chances of making money are higher than if you buy only one. With $10,000 you might be able to buy 10 of them or even all of them, and so you make more in the long run.
What you need to do is ensure you have a strategy that has a "stop loss" point for any shares you buy. You sell the stock when it reaches (drops down to) this point. When the price goes up, you move the stop loss point up, so it's always at the same percentage from the top, but you NEVER move this point down. Most people who lose large amounts of capital as day-traders don't, so they are risking a lot more than they should.
With the research, those figures should be at least daily, so you need to get them everyday, before the share market opens, and decide whether you are going to buy or sell or both.
No, you don't need a special computer. Professional software is usually better than "free" software (it gives you more analysis tools). Don't listen to professional brokers - they generally are late in their advice, unless they are working for you rather than a company (brokerage).
Top gains/losses depend on when the news is broadcast - usually end of day, but it can be end-of-session (or right at the minute) - many day traders look at their business on an hourly basis, but that takes too much effort, and only really useful when one's playing the indexes, with puts and calls.
Analysis: There's many ways to analyse. What you want to pay particular attention to is the highs,lows, opens and closes of the stocks, the daily volume, the p/e ratio, the yield and the volatitility. I prefer using candlesticks as a starting point, but there are dozens of indicators which can show whether something is a good "bet" or not.
Programs: I've used a few. the easiest to use was one called "Metastock". I think they're still around. However, you can go much the same thing with a spreadsheet and a database. And, of late, I've been tending to use "gut feel" along with the candle sticks. Get a book on candlesticks, and it'll show you some relatively easy ways to make decisions.
Money: It's best to start off with at least $10,000 - anything less gets a bit too risky. Most people who lose money on the stock exchange are people who don't have enough to "play" with. This fits in with the 50% to 90% you mention - except when there are bear runs or bull runs, half the stocks tend to go up and half tend to go down. The more you can start with, the better. With only, say, $1000 to start, you are limited to the number of different stocks you can buy. If you have, say, a dozen different stocks that you think will do well, six will go up and six will go down. If you buy all of them, your chances of making money are higher than if you buy only one. With $10,000 you might be able to buy 10 of them or even all of them, and so you make more in the long run.
What you need to do is ensure you have a strategy that has a "stop loss" point for any shares you buy. You sell the stock when it reaches (drops down to) this point. When the price goes up, you move the stop loss point up, so it's always at the same percentage from the top, but you NEVER move this point down. Most people who lose large amounts of capital as day-traders don't, so they are risking a lot more than they should.
With the research, those figures should be at least daily, so you need to get them everyday, before the share market opens, and decide whether you are going to buy or sell or both.
No, you don't need a special computer. Professional software is usually better than "free" software (it gives you more analysis tools). Don't listen to professional brokers - they generally are late in their advice, unless they are working for you rather than a company (brokerage).
Top gains/losses depend on when the news is broadcast - usually end of day, but it can be end-of-session (or right at the minute) - many day traders look at their business on an hourly basis, but that takes too much effort, and only really useful when one's playing the indexes, with puts and calls.
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