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Hi Fred,
Daytrading is a lot of work, IMO these internet daytrading sites are not going
to help you become a better or good trader. You are only going to make the
internet sites very rich. Because the fees are something like $200-$500 a
month, depending on which guru you sign up with. With any guru's site always
ask if you can see their trade sheets. Many of these online site guru traders
don't trade what they call out. Here is an example: XYZ guru has a site and
claims to be the next market wizard. He charges $300 a month, 300 traders sign
up. ($300* 300=$90k a month) Why trade? His objective is to make money
selling a service, not trading. He or she has figured out that selling a
service is easier than trading, any day of the week.
Understanding intraday market volatility and changes? Comes from experience
only. The market is always changeing its not the same all the time. Things
needed for daytrading:
Money $25k +
Volume 1 million + per day
Range 1.5 points + per day
Money Management system you choose.
If you trade Nasdaq stocks then you need to have a Level II system and an
understanding of how Level II works. Then it will take you about 3-6 months to
start learning some Market Maker tricks.
http://www.polartrading.com has a good, free level II course.
Stock recommendations? Here is a good book to read " Reminiscences of a Stock
Operator"
Others:
God in the Pits
The Inner Game of Trading
Madness of Crowds- full title"Extraordinary popular Delusions and the Madness of
Crowds"
Street Smarts
Hit and Run
http://www.elitetrader.com- Level II course
http://wwwundergroundtrader.com- book on Level II
Take $500 and buy these books, you'll learn a lot more than any online trading
site will ever teach you. Goto http://www.traderslibrary.com and get on the
mailing list, they run specials on books you can get 3 for $39 at times. Plus
the more books you buy the better the deals get.
Trade Well,
Joe Frabosilio
Fred wrote:
> Considering paying for subscriptions to some daytrading Internet sites.
>
> My objectives in subscribing are (in order of priority)...
> 1: Learn daytrading techniques/strategies
> 2: Understand the intraday market volatility and changes
> 3: Lastly...to receive some stock recommendations.
>
> I would like to know the best sites for the dollars expended. I am currently
> considering tradehard.com, MomentumTrader, Pristine, etc...
>
> Any recommendations would be helpful.
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