Newbee need help getting started :confused:

Discussion in 'Trading Software' started by thecypher, Feb 17, 2008.

  1. thecypher


    I am getting started with Day Trading. Been doing a lot of reading and research the last couple of months. I think I am ready to give it a try. Need some guidance on the best chice for a broker and direct access trading platform to use for a newbee. I intend to just trade in equity to start with and see how it works out. Any help is much appreciated.

  2. I'm afraid your question does not have a simple answer. There are many paths to take. I spent many months looking at thousands of posts on this site. The answers are here. You need to dig in more. Then ask more specific questions and people will give you specific answers. Many of the members on this site are very unforgiving. I am sensitive to the newbie so will help you if I can. If you have specific questions - you can PM me.
  3. If your starting out and want a real decent charting platform go with Quotetracker. its free, but if u want the ads to disappear its whopping 70 bucks/year. I've used it for 3 years without fail so no need to spend 600-1000 bucks for a charting platform.

    Broker-well, thats a tough one. Lots of guys like Interactive Brokers for quick exectution and low price. I had some difficulty with them but I understand they finally got some of their stuff together. I strongly suggest that u spend at least 500-1000 hours on a sim account and watch watch watch the screen for support and resistance,trend lines etc.

    A thread on here called AHG in the journal section deals mainly with the index futures however it is a great place to learn a lot of what u can use before u go broke.

    good luck-

  4. There are several threads on platforms

    IB seems to get alot of complaints about lockups during the trading day, being down etc

    I opened a TOS account because the real time charting and the execution platform are both free if you keep an account there

    You also dont need much capital. Ive heard as little as 2000 bucks

    Their tech support is also quick and friendly -- being a novice I have found urgent reasons to need that

    Some downsides:
    They are more options oriented than futures oriented
    Hard to backtest on their platform