Everybody claims theirs is the best and I can't find a trustworthy independent review source. There are several good books on trading stocks. Amazon has tons of books for the nubie investor.
Here is the truth on software tools:
They are only worthwhile if you have developed a good trading strategy that you apply using the software.
Computer software allows you to perform specific strategies of buying and selling based on triggers you perform or that the company sells you.
There are plenty of free internet resources that will tell you all the information you need to make informed decisions.
That said, I know you are looking for more. Here are some books to read. If you cannot make it through them, then you don't have the patience of discipline to trade stocks. (dont worry. they are pretty good)
1. 2 Classic Investing Books
a. One Up on Wallstreet - Peter Lynch
b. A Random Trip Down Wallstreet (forgot the author)
2. One Value Investing Book
The Little Book of Value Investing
3. Technical Analysis Book
How to Make Money in Stocks (O'Neill)
4. Jim Cramer: Sane Investing in an Insane World (probably the one to start with)
These are all easy reads. They are will often contradict each other. But these are the major schools of thought.
After you've traded for AT LEAST FIVE YEARS then its time to look at options.
Have fun. It can be a lot of fun, profitable, and a good hobby. Hi
I have found that there is no better tool than your own gut feeling and experience.
To get this go to Borders or Barnes and noble and read the books for your investing interest as there are dozens of types and become informed about those. I started by going on several of those free investment courses that are advertized on TV which gives you the basics, I then went on a course with one of them for 3 days in a hotel for further enhancement cost $2500.00 but I thought it was worth it. They wanted me to spend thousands more to specialize but I decided I knew enough to practice myself with a small sum at stake.
I used Etrade broker as It was the one that allowed the smallest opening balance of $2,000.00 and would allow me to practice on level 2 as well as getting level 2 live quotes for BB and PK stocks that a friend was having some success with. Lost money the 1st year $8K but made it back after 10 months and am now well ahead, try paper trading at first with yahoo then you won't lose cash when learning.
BB & PK stocks are not a good way to learn due to the immediate volotility of them and lack of regulation, PK stocks are mainly just scam shell compies trading up & down on insignificant news, once you know the scam story you can jump in & out fast. just so long as you know it's just another BS story.
I practised news stories, good or bad and developed a strategy to enter and exit based on gut feelings about the type of story, size of company, share price and the type of news.
I like to enter once the share price has started to move with emphasis that the Volume must be above half a million shares or above a million shares on those $2 and $3 stocks to enter immediately news comes out. When shorting I like to see a good increase in volume too.
Another strategy is to follow a big decliner on news for 1-3 days and watch the charts for a bounce opportunity as it begins to happen, this sort of play is usually after at lest a 40% drop in price.
I like to follow FDA good or Bad News, Volume + Year Lows, Buyouts, Share Buyback, product launch's. Gaps up or down at market open.
The courses that I went on were teach me to trade by Russ whitney but there are many others out there. I would not go on the more advanced courses as they are too expensive, the free and taster courses ar the best value.
I use yahoo's free top leaders board in yahoo finance, Knobias Raidar for live streaming News and etarde for level 2 live quotes.
Michael Parness has a great book (rule the freakin markets)and great web site for new investors. he was just like you and me, getting ripped off by the brokers so he decided he would learn how to do it himself so he did and made $millions.
The Wize trade link below was a free course that my wife liked, ($150 cost for the 2nd course) this has a programme that highlights stocks that are about to break out on a swing trade, sounds like this may be the type of program you asked about, can't vouch for it personally but do a search for wizetrade on the internet to collect opinion. If you like this program you can pick it up on ebay almost new for a fraction of the cost once you have been on the cheap courses. Cheap and free courses are a definite must if you only have a basic understanding of trading stocks, do this if nothing else.
Good Luck
Links
http://www.trendfund.com/
http://finance.yahoo.com/actives?e=o
http://www.daytrading.nu/
http://www.knobias.com/
https://us.etrade.com/e/t/home
http://www.investorshub.com/boards/defau...
http://tmtt.com/
http://new.wizetrade.com/ hi friend ,
my answer is ICICIDIRECT
i am using this now .i think it is more comfortable .. |
