Stock Trading Tools

The most successful floor traders are those that have the most experiance, this is no coincidence at all and should be a pointer for those who aspire to become a good trader.

Here is a good day trading tip, trading can be likened to being a sportsman, such as a golf pro or tennis champion, you need to be trained and in good physical shape. Skills are needed which must be developed over time and practiced until they become 2nd nature. Here are some of the key skills that you must develop as a trader.

1. Technical analysis can be used for futures as well as the more standard stocks, options and bonds that most people trade. This can give you a large edge over other traders who have not taken the time to study the charts support and resistence areas, trendline and patterns. If you want to be a pattern day trader then learning technical analysis is really a must do if you want to trade futures successfully.

2. This is a very basic point but is very important, always have your trading plan prepared before you enter a trade, never try and create it on the fly, you will be musch too emotional. make sure that you have both an entry and exit point in your plan.

3. Keep your losses small!, this is the one thing that every trader must do if they want to stay in the game for a long time. By doing this you will preserve your capital allowing you to trade another day. Your small wins will compensate your small losses allowing your big wins to give you an overall profit

4. Over trading is a big mistake that a lot of amateurs make. Professionals tend to be more patient and wait for the better opportunities to come along, this is called cherry picking and takes both patience and discipline. These are essential skills that you must develop.

5. It is important that you track all your trades and review them to see where you are making the mistakes. This is hard work, but this is what separates the professionals from the amateurs. Unless you do this you will keep on making the same mistakes. The best way to do this is to keep both a daily and weekly log.

6. Only trade when you are both physically and mentally prepared. This is often overlooked but is very important. Do you think a tennis star can win a game when they are tired and mentally not focused?, it’s unlikely. Being prepared means getting a good nights sleep, having your trading station and charts well prepared before the market opens, taking the time each and every day to review your trading plan and rules. Finally you must have the mental frame of mind and confidence that you are going to be successful today in your trading.

7. If you are new to trading futures take the time to paper trade until you are very confident that you are going to make money. You will know when you are ready because you will start to hate paper trading knowing that you could be making real cash profits on a consistent basis.

If you follow these steps then day trading option could be a very successful career for you

Warren Buffet was born in 1930 in Omaha, Nebraska and has become probably the world’s most successful investor. He is the son of a stockbroker and Congressman, and of course everyone wants to learn about his trading secrets.
 
I don’t think that Warren Buffet has actually written a book about his investment principals himself, in that sense there is no Warren Buffet book, but he has from time to time given hints in his annual letters to share holders of Berkshire Hathaway, and in other short notes and reports to the media.
 
However there have been a lot of books written about Warren Buffet by others who have tried to put together the story and ideas behind the man and his fortune.
 
In fact if you go to Amazon and do a search for “Warren Buffet” will find 2,576 books being listed, compare that to “Bill Gates”, who for a long time was also considered to be the riches man in the world, and you only find 11 listings, that should give you some idea about the public obsession with the man.
 
I have only read one of his books called “The Warren Buffett Way”, it was quite hard work and somewhat of a boring read. Much of the content of all these books on Warren Buffet seems to be the same basic information about value investing and being patient with your investments. I don’t think much can be gained by reading more than one of them.
 
Here is a small selection of some of the better known ones:
 
The Warren Buffett Way, Second Edition written by Robert G. Hagstrom, Ken Fisher, and Bill
The Snowball – Warren Buffett and the Business of Life
The essential Buffett library
Investing – the Last Liberal Art – by Robert Hagstrom
Buffett, by Roger Lowenstein
The New Buffettology, written by Mary Buffet and David Clark
The Interpretation of Financial Statements, by Benjamin Graham
Value Investing, by Janet Lowe
Robert Hagstrom, The Warren Buffett Way
Mary Buffett and David Clark, Buffettology
Janet Lowe, Warren Buffett Speaks: Wit and Wisdom from the Word’s Greatest Investor
John Train, The Midas Touch: The Strategies That Have Made Warren Buffett ‘America’s Preeminent Investor’.
Andrew Kilpatrick, Of Permanent Value: The Story of Warren Buffett
Warren Buffett, Lawrence Cunningham (editor), The Essays of Warren Buffett
Janet M. Tavakoli, Dear Mr. Buffett: What An Investor Learns 1,269 Miles From Wall Street
 
Many of these Buffet books are quite large, with many pages that would take a long time to read, and even longer to understand and make any sense of. A better way of understanding Buffet maybe to find investment articles which have summarised the Buffet principals into short concise lessons that can be quickly learnt and applied.
 
One point of caution however, and this is not investment advice, Buffet has made most of his fortune during the years of the great USA bull markets, times have changed and maybe these principals are no longer as effective as they used to be.

One of the best trading courses that I’ve taken was the Top Dog Trading course. At about one tenth the cost of seminars from the big trading seminar companies like Investools, Optionetics, FXTE, Bettertrades (Better Trades), Star Trader and a whole lot more, it delivers many times more real trading education, insights, market wisdom and how to trade rules.

If you would like to read more about this course checkout Top Dog Trading Review

Does everybody need forex trading training or do some people have a natural talent for trading currency on the forex market? You will not be surprised to hear that nobody is born understanding all of the ins and outs of foreign exchange trading. While it is true that some kinds of experience or personality traits can be useful and can mean that you will pick it up more quickly, everybody needs some kind of training if they plan to make a profit.

But there are many kinds of stock day training available these days and it may be hard to judge what is the best. With so many websites, blogs, articles and ebooks available on the internet, often low priced or even free, it is tempting to think that we may be able to pick up all we need to know for dirt cheap.

However, it can be a big mistake to limit yourself to this kind of piecemeal training. There are some great ebooks and free systems out there but others are outdated or never had any success at all. As a beginner you will find it hard to know which ones to trust.

Even the best ebooks generally do not cover everything you need to know. They may focus on one or two strategies that are not necessarily the best fit for your situation. The money saved on training may be lost several times over once you start currency trading for real.

In most cases you will be better advised if you sign up for formal training through a membership site. This is likely to be run by a trading group or an experienced forex trader. They will have set up a step by step process that you can work through from complete beginner to knowledgeable trader.

Beginners are usually attracted to forex day trading by the lure of quick and easy money and most know nothing about it when they start. It is great to have a system that covers pretty much everything and someone who can answer your questions.

Many formal forex training programs have a forum where you can discuss your strategies and results with others. Sharing information in this way can be a great way to learn. In fact, in many cases the forum itself is worth the cost of membership and many people remain members after completing the program just to have this exposure to the knowledge and experience of their fellow traders.

Solid forex training is unlikely to be free except at the most basic level. If you just want to dabble in the forex market as an experiment, without caring too much whether you win or lose, you may be satisfied with free training. The best type of free training is often given a way as a teaser or taster by sites or brokers who hope you will then join them as a paying member. In fact, you can often pick up top level tips this way and a free report from a reputable trader will often be more useful and valuable than a $20 ebook.

Whatever type of training you choose, be sure to follow it exactly. Don’t skip over the first steps hoping to get straight into making money – that would be a fast route to disaster. Test out the system you are being taught, either with small trades or in a demo account. Ask questions. Make sure you get every drop of wisdom from the training you have chosen so that you put yourself in the best position to turn a profit on completion of the forex trading training program.

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There is plenty of opportunity for unscrupulous people to make money fraudulently by launching a forex trading scam. Unfortunately there are always people who will part with money too fast in the hope of making more. However, we cannot assume that a system has to make money for everybody using it in order to be genuine. So what are the signs of a real scam?

1. Unrealistic claims

All websites that are promoting a forex product or service will try to appeal to your wish to make money. That is what forex day trading is about, after all. But if a site promises to make you millions of dollars virtually overnight no matter who you are and without requiring any work on your part, stay clear.

2. Huge earnings on trading account screenshots

It is also common for sites to provide images of their own trading account results to convince you that their system makes money. This is standard practice. A scammer will fake the screenshots using Photoshop, and it is pretty much impossible to tell.

So although having screenshots on the site is not in itself a problem, you shouldn’t pay much attention to them. Even if they are not faked, you don’t know that the person followed the exact system you are buying in order to obtain those results … and even if the figures are 100% genuine, it certainly does not mean that you will achieve the same results.

3. No guarantee

There should be a money back guarantee on any product and you should not have to jump through hoops to get it. Look for a “no questions” guarantee rather than something that says you must have followed all instructions to the letter before you can qualify for a refund. Following the instructions may include investing more money than you have.

If you are buying a downloadable product such as an ebook or expert advisor, you can trust anything that is sold by Clickbank as far as refunds are concerned. Clickbank will always refund these items within 58 days of your purchase.

If you are looking at a membership site or a service, refunds on past payments may not be offered because of the time that the company will have put in to providing the service for you during the time that you were a member. However, you should check that you can cancel at any time without incurring further charges. Don’t sign up for something that locks you in to a contract for 6 or 12 months.

4. Bad press in the forums

All products will show you recommendations and testimonials from satisfied customers. If you want to be sure you can ask for evidence that they are real, and a genuine business will usually find a way for you to contact the person if there is not already a link given along with the testimonial.

But even the worst day trading system will have some users who were just lucky. What you want to know is what the unsatisfied customers are saying. There will be some for every product, no matter how good, and you need to find them and sift through their comments. Are they just unhappy because they didn’t make a million dollars overnight, or was there a genuine problem with the product? Search for them in online forums to get a clear idea of which products are worthwhile and which ones might be a forex scam.

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After a spectacular rally from the lows seen last month, the S&P appears to be running into overhead resistance.

Is this the pause that refreshes, or is this the pause that reverses the market back towards the lows?

I have said for some time that I was not that confident that this rally would continue as our long-term “Trade Triangle” remained in a negative mode. In my new video I outline the key areas that I believe will shape this market in the coming weeks and months.

The video features our “Trade Triangle” technology as well as our Fibonacci tools. I will also remind you of a concept that has been around for a while, but one that you might not be aware of.

No matter what happens, you are going to see some extraordinary markets and some wonderful opportunities to make money in the next 6-9 months.

Some investors may be hoping for the best, but be prepared as we might see another dive.
I highly recommend students of the market to take a few minutes and watch my latest video. Even if you’re a seasoned pro you may find what you see interesting and therefore profitable.

As always, my video come is complimentary with no strings attached, watch this s&p 500 technical analysis

If you are about to start, or are already in the process of learning how to trade, or day trade, you may have already been searching the internet using Google or Yahoo for trading education, tools, software or seminars, and have found that there is a lot on offer.

For example “trading course” brings up 758,000 pages in Google and “trading seminar” another 109,000 pages, the question is what should you be looking for when selecting a trading course or seminar. In this article I’ll point out some of the things to check before spending your hard earned cash on your trading education.

1. If buying a live trading seminar check carefully where the location will be, have you fully priced the expensive of travel, hotels, meals and car rental?, it may be a lot more than you expect.

2. What is the return policy, this can vary widely between trading education companies, for some you only have a 3 day cooling off period while for others you may have up to 12 noon or the end of the 1st day to ask for refund if you decide this was not right for you.

3. For a live seminar are you also given DVD’s of the same or similar content?, so often live seminars fail to cover all the very important details involved in day trading. Having a set of DVD’s enables you to watch the content over and over again at home until you get it. Beware that some companies will charge you extra for the DVD’s even though you have already paid for a live trading seminar.

4. Check the internet for feedback on the company and trading seminar. Use search terms like “company name review or “company name scam”. Often reviews are posted in trading forums, these can be found by searching for “trading forum”.

5. In advance try and find out exactly who will be presenting the seminar. The last thing that you want is a professional “teacher” giving a seminar on trading, what you want is a “trader” who makes his living by trading and only does a few seminars a month out of interest and for personal reasons, not because they need the money.

6. If you are buying an online day trading or investing course where the content is 100% viewed online you should get at least a 30 day 100% money back guarantee, if not stay away.

7. If you are buying a course or seminar in which DVD’s and manuals are being shipped to your house, again you should expect a 30 day 100% money back return policy, less shipping and handling, again if not stay away.

8. It’s very likely that you will have questions after taking either the live or online course or watching the DVD’s, make sure that you will be able to ask questions and have them answered, either one on one or in a forum setting.

9. Last, but certainly not least, before buying do a lot of window shopping. The price for trading seminars, either stocks, options, Forex or futures varies widely from $50 for an ebook to over $25K for a comprehensive set of training. You may be able to find the same education much cheaper at a different company.

Also be aware that trading education and seminar companies are always running specials and offering discounts, before you buy search the internet carefully for any deals and also call the company directly and ask for a low price guarantee. In other words make sure that you are paying the lowest price that they are offering the product for.

Hans Jacituz is a chartered professional engineer, full time trader and internet business owner. Read more educational articles about day trader training at http://www.topdogstrader.com

Day trading can be one of the most profitable careers in the world, that is if you learnhow to do it correctly.

You need to master a number of key skills but they can be sumarised as follows:

• Learn how the market works
• Develop a trading plan and strategy
• Back test and paper trade the plan
• Take action and start to trade your plan
• Use correct money management and money risk rules
• Continue your trading education

If you are finding that you are not getting anywhere with your day trading you prpbabily need to get some more training, you may already have had some training but I don’t think it will have been as good as the expert day trader that I found.

This expert is called Dr Barry Burns, I started to read abd study his day trading strategies and it completely turned my trading proformance around.

I strongly suggest that you checkout his material, you can even get a free 5 day video day trading course in which he reveals some of his best setups.

Go to Day Trader Training and signup for his free course, you will not regret it

I bought the Barry Burns courses through his website over a year ago and have been very happy with the trading education that I have received from them.

If you are not familiar with the courses there are two main ones:

1 The Foundation Course

2 The Momentum Course

Each course builds very carefully on the previous, video by video, many of the lessions taught in the previous videos are repeated in futures ones so you really have no excuse not to learn and become an expert stock trader.

The material is very generic so you can apply it to whatever market that you trade, stocks, options, forex, futures, emini, gold, oil, bonds etc

The best way to get a feel for the course is to sign up for the free 5 day video couse and see if his style of education is right for you, I think you will like what you see

Free 5 Day Video Trading Course