Beginner in Day Trading

[tiger858]

Hey all ,

Been Reading up a little on day trading and just wondering what set-up would be best to start, i want to test it out with "dummy money" is there any websites or programs that could track if my stategies would be working or not . also wondering how much capital should a day trader start off with and what programs such a amibroker or others i might need to help me succeed in the adventure , and any books that would help or give me a clearer view of how day trading works , will be hopefully doing this for roughly 6 months full time so as much help as i can get would be great.

Thanks everyone!

Tiger.

 

[CanOz]

Hey all ,

Been Reading up a little on day trading and just wondering what set-up would be best to start, i want to test it out with "dummy money" is there any websites or programs that could track if my stategies would be working or not . also wondering how much capital should a day trader start off with and what programs such a amibroker or others i might need to help me succeed in the adventure , and any books that would help or give me a clearer view of how day trading works , will be hopefully doing this for roughly 6 months full time so as much help as i can get would be great.

Thanks everyone!

Tiger.

If I had it to do all over again....I would simply visit a prop shop like Propex and pay to have them train me to day trade.

The money and emotional damage you would save would be worth every penny.

CanOz

 

[TMC93]

Hey all ,

Been Reading up a little on day trading and just wondering what set-up would be best to start, i want to test it out with "dummy money" is there any websites or programs that could track if my stategies would be working or not . also wondering how much capital should a day trader start off with and what programs such a amibroker or others i might need to help me succeed in the adventure , and any books that would help or give me a clearer view of how day trading works , will be hopefully doing this for roughly 6 months full time so as much help as i can get would be great.

Thanks everyone!

Tiger.

I don't know how much experience you have as an investor, but if you are new to the sharemarket i would probably steer clear of day trading for a little while. If you know what you're getting yourself into disregard that last bit.

In regards to trading capital, if you were happy to live off say $50,000 a year then at a 5% return you would need 1,000,000. Many people achieve higher ROE however i think the bare minimum to day trade would be 50k. I don't day trade so i wouldn't know but i remember reading some books that advise about 100-250k to day trade.

Plenty of experienced day traders here that will let you know

 

[joea]

Hey all ,

Been Reading up a little on day trading and just wondering what set-up would be best to start, i want to test it out with "dummy money" is there any websites or programs that could track if my stategies would be working or not . also wondering how much capital should a day trader start off with and what programs such a amibroker or others i might need to help me succeed in the adventure , and any books that would help or give me a clearer view of how day trading works , will be hopefully doing this for roughly 6 months full time so as much help as i can get would be great.

Thanks everyone!
Tiger.

I suggest you google some of the things you need to know.
Here is one link to answer a couple of question.

http://www.sec.gov/investor/pubs/daytips.htm

joea

 

[History Repeats]

start here

http://www.cmegroup.com/education/getting-started.html

 

[tiger858]

Thanks all for the great links and advice

tiger