Day trading is the best, especially when you end the day on the plus side! Used to do it all the time but after 9/11 not much any more! The best plus I had was I bought 2000 shares of aeroflex stock 2 years ago at 5$ a share, sold at 63$ a share 3 months later! Great profit! I'm more in it for the long haul now,not daily!
I used to trade a lot of futures options, not daily but I made several hundred trades a year.
Caught the coffee bull markets in 94 and 97, paid for the house with the profits.
It can be pretty stressful, even when your making money.
I used an advisor as well as some of my own trading systems.
If you are going to dabble in futures, I would find a good CTA first then work on developing some of your own stuff.
I never day traded stocks, I'm buy and hold when it comes to stocks.
Besides, once you trade futures, trading stocks seems boring by comparison.
Caught the coffee bull markets in 94 and 97, paid for the house with the profits.
It can be pretty stressful, even when your making money.
I used an advisor as well as some of my own trading systems.
If you are going to dabble in futures, I would find a good CTA first then work on developing some of your own stuff.
I never day traded stocks, I'm buy and hold when it comes to stocks.
Besides, once you trade futures, trading stocks seems boring by comparison.
for those that are actively making a lot of trades, where do you do it. With a broker? Online with a service? When you are making frequent trades you don't want to rack up too many fees, do you?
I opened a Datek account (at the peak of the market) in late 1999. I won't get into the (70% loss) details of that, but are they still a good place to make trades? I think they charge $9.95 a trade but it has been a while since I have used the accout. I think they are owned by ameritrade now.
I opened a Datek account (at the peak of the market) in late 1999. I won't get into the (70% loss) details of that, but are they still a good place to make trades? I think they charge $9.95 a trade but it has been a while since I have used the accout. I think they are owned by ameritrade now.
There are firms in nyc that charge .005 (1/2 cent)or less per share if you're doing 1 million shares or more per month.
If a person is truly "daytrading", not holding overnights etc., there is no way you can make a living paying 9.95 each way.
Also, unless you've spent a year in a trading room in ny, learning the business, you have virtually zero chance of making consistent money day-in and day-out. You're better off betting the NFL. Yes, it's that bad, but it's good advice.
If a person is truly "daytrading", not holding overnights etc., there is no way you can make a living paying 9.95 each way.
Also, unless you've spent a year in a trading room in ny, learning the business, you have virtually zero chance of making consistent money day-in and day-out. You're better off betting the NFL. Yes, it's that bad, but it's good advice.
These guys have pretty good fees.
www.interactivebrokers.com
www.interactivebrokers.com
Ameritrade has a division called Freetrade that is really cheap. $3 is the maximum...goes down from there as you hit certain volume levels during the month...1st 20 trades are free. Only problem I've found with the discount brokers is your trades are routed to the electronic exchanges and you don't always get as good a fill as you would on the floor. Let me know if anyone has seen anything cheaper. I've been trading since 1999 and still have my house..STAY AWAY FROM THE NAZZ if you want to keep your assets intact!)
STRUT888/FISHHEAD - Michael from Royal made a nice site for gambling on stocks...I think it's still up and running.
http://www.stocksroyale.com/site/
When you go there say hello to him for me
http://www.stocksroyale.com/site/
When you go there say hello to him for me
