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Author Topic: Can you help a newbie out?
marinecorps3046
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I am new at stock trading and would like to learn the basics of trading can anyone help me out?

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Get rich or die trying.

Posts: 65 | From: GA | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
10of13
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Some simple and Basic questions:

What do these letters mean?
DD=due diligence (Research)
MM=Market Maker (definition http://www.sec.gov/answers/mktmaker.htm )
EOD=End Of Day
EOW=End Of Week
HOD=High of Day
PPS=Price Per Share
O/S=Outstanding Shares
POS=Piece of "Poo Poo"
IMHO=In My Humble(Honest) Opinion
LMAO=laugh My A** off
L2's=Level 2's

Also look at this link
http://www.allstocks.com/edu/html/internet_lingo.html


How is one "flagged" a daytrader?
To avoid being flagged a daytrader, you can not sell and trade the same stock more than 3x's in a 5 day period.
Buy "XYZ" and sell it the same day=not a day trader.
Buy "XYZ" on Monday and sell it on Tuesday=not a daytrader.
Buy AND sell "XYZ" more than 3x in a 5 day period= Day trader.
You can buy and sell different stocks...just not the same one.

Take a look at this link
http://www.allstocks.com/stockmessageboard/cgi-bin/ultimatebb.cgi/ubb/get_topic/ f/9/t/001490/p/1.html?

What are "free" shares?
Many People will sell a stock once it has "reached" an increase where they can sell to "get back" their original investment and then continue to let the rest of the shares "ride", these are "free shares" (ones that the gain of the pps has "covered") All of these, once sold, would be complete profit.

What are "gappers"?
http://www.investopedia.com/terms/g/gap.asp


Must have book to read is
"a beginners guide to day trading on line"
by Toni Turner

This site will answer most all questions:
http://www.investopedia.com/terms/l/level2.asp

Lots of info in this link:(start at the begining of the thread)

http://www.allstocks.com/stockmessageboard/ubb/ultimatebb.php/ubb/get_topic/f/9/ t/001296/p/1.html
Some interesting Links...for the learning process

Reading charts

http://www.hotcandlestick.com/faq.htm#4

http://encyclopedia.thefreedictionary.com/Candlestick+chart

http://investrio.investopedia.com/university/technical/technical3.asp

http://www.investorwords.com/691/candlestick_charts.html

this next one you can actually open an account with "play money" and see if your ideas work
http://www.fxsol.com/getting_started/practice_account.asp

lists stocks with 52 week highs and lows
http://stockcharts.com/def/servlet/SC.scan

Level 2's and other stuff free
http://www.quotetracker.com/?source=GOTO|stock_chart

Investor terms/definitions

http://pennystocks.org/s1_main.php
http://www.chartfilter.com/glossary/l5.htm
http://www.tacticaltrader.ca/glossary.html
http://www.investorterms.com/terms/Candlestick_Charts_.htm

http://www2.barchart.com/defs/?code=BSHDLN

A site that gives buy and sell points?
http://www.tradersdirect.com/offer.asp

lots of info
http://www.daytraders.com/booklist.html

http://www.allstocks.com/links/html/links.html

On line book
http://pennystocks.org/s1_main.php

Stock screeners
http://www.smallcapcenter.com/tools_technicalSearch.asp?page=ANALYTICSSEARCH_IN. ASP

http://www.allstocks.com/links/html/stock_screeners.html

www.stockcharts.com

www.smallcapinvestor.com

www.microcaptrade.com

www.smallcapcenter.com

A link for "setting" those stock screeners;
http://www.allstocks.com/stockmessageboard/cgi-bin/ultimatebb.cgi?ubb=get_topic; f=4;t=000004;p=0

--------------------
#1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!

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skip
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wow, great post 10of13. That is a great list of information, it will help everyone. Thanks.
Posts: 2741 | From: Seattle | Registered: Feb 2005  |  IP: Logged | Report this post to a Moderator
10of13
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I hope it has some useful info for everyone...
I tried keeping my opinions out of it...and only list info...

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#1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!

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hawkball
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Question from a newbie, WHERE do you guys (and gals) buy your stocks. A lot of sites won't do penny stocks and the ones that do charge outrageous yearly fees. Any info would be appreciated.
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10of13
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Lots of places, Etrade, Choicetrade, ameritrade, lowtrade...Good luck...

--------------------
#1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!

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skip
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i like choicetrade, been with them over a year and i am pleased. $5 flat trading fee. tough to beat IMO.
Posts: 2741 | From: Seattle | Registered: Feb 2005  |  IP: Logged | Report this post to a Moderator
hawkball
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Thanks for the info. I appreciate the time.
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Av8trader
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How is one "flagged" a daytrader?
To avoid being flagged a daytrader, you can not sell and trade the same stock more than 3x's in a 5 day period.
Buy "XYZ" and sell it the same day=not a day trader.
Buy "XYZ" on Monday and sell it on Tuesday=not a daytrader.
Buy AND sell "XYZ" more than 3x in a 5 day period= Day trader.
You can buy and sell different stocks...just not the same one.


I'm not sure about that last one. I've already got a warning from Scottrade for daytrading more than 3 different stocks in a 5 day period.

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T e x
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ask em why--get it in writing, would be my opinion.

Ask SEC/NASD for the *exact* regs...if your broker violating? report 'em...

that being said, your broker *can* refuse your business.

keep us in da loop, willya?

[ May 17, 2006, 01:55: Message edited by: BuyTex ]

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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10of13
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quote:
Originally posted by Av8trader:
How is one "flagged" a daytrader?
To avoid being flagged a daytrader, you can not sell and trade the same stock more than 3x's in a 5 day period.
Buy "XYZ" and sell it the same day=not a day trader.
Buy "XYZ" on Monday and sell it on Tuesday=not a daytrader.
Buy AND sell "XYZ" more than 3x in a 5 day period= Day trader.
You can buy and sell different stocks...just not the same one.


I'm not sure about that last one. I've already got a warning from Scottrade for daytrading more than 3 different stocks in a 5 day period.

What I posted was from Etrade...and they quoted the Sec rules...but I would assume that different brokers can have their "own" rules...are you sure that the "warning" was not for using "unsettled funds"? I have never used Scottrade..so I am not able to "help" you...but I would contact them and have them explain it to you...
GLTY

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#1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!

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Machiavelli
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Read these books:

A Beginner's Guide to Short Term Trading by Toni Turner www.toniturner.com

The Candlestick Course by Steve Nison www.candlecharts.com

How I made $2,000,000 in the Stock Market by Nicolas Darvas

Trend Following by Michael Covel

Reminiscnes of a Stock Operator by Edwin Lefevre

Market Wizards by Jack D. Schwager

The New Market Wizards by Jack D. Schwager

There are others I've read but this should be enough for now. Will keep you busy educating yourself.

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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Av8trader
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The warning stated that I was a pattern daytrader. I'll call them up tomorrow and ask a broker for clarification.

Sure would be nice to just have 25k+ and be done with all this!!!

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10of13
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quote:
Originally posted by Av8trader:
The warning stated that I was a pattern daytrader. I'll call them up tomorrow and ask a broker for clarification.

Sure would be nice to just have 25k+ and be done with all this!!!

Maybe a margin account would "solve" the problem...
But let us know what they say K?
GLTY

--------------------
#1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!

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