I am trying to become a full time daytrader, but first must prove I can reliably generate income before I quit my full time job. I know the bascis, but I want to take it to the next level. Can anyone suggest a good book or online resources? I am specifically interested in the different methods - swing trading, trading on news, micro-caps, etc. Most of what I have done to date is speculating, I need to improve my skills. Do I need to subsribe to OTC charts (or microcap whatever it is called?) or does my Ameritrade screener, streamers, etc. suffice?
May I recommend heading out to Barnes & Noble for a couple hours...spend some time in their investing section (you'll find lots of books on the market, trading, etc)...grab a stack, get a cup of coffee and sit down in one of their comfy chairs. Read read read bits of all of them and buy the ones that ring true to you the most. Then read the ones you buy several times each.
4 titles: A beginners's guide to short-term trading - Toni Turner Also A beginners's guide to day trading online - Toni Turner Trading for a living - Alexander Elder The market maker's edge, Day traing tactics - Josh Lukeman
I would recommend books over info online.. and unless you have $25,000 to drop to be a daytrader.. i would recommend you get trading experience as a Swingtrader or Position trader first.. below are my book recommendations for both swing and daytrading...