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What Stock Trading Programs Work? A Quick Guide to Stock Market Software

A good stock trading program is as essential as knowing how to trade in the first place. If you don’t have the right tools at your disposal, chances are you will not be as successful as someone who does. That said, it pays to know what stock trading programs work in the stock exchange. Not all stock market software is worth your time. Here are some of my personal favorite recommendations and what you can do with them to profit in the financial markets.

My favorite brokerage software has to be thinkorswim. This trading software is entirely free even in simulated trades and is a very full featured stock trading program. It will give you a complete edge by giving you excellent scanning tools and technical analysis. Since it is very difficult to scan the entire market yourself, this is an excellent asset and will reduce a lot of the burden of trying to find hot stocks on your own.

My favorite stock trading program for stock picking is stock assault. This simple program will give you a recommendation based on what you are searching for similar to the thinkorswim platform. I find it to be a little bit simpler to use than the thinkorswim software. If you are beginner, I recommend this as your stock market software.

Finally, while this is technically not a stock trading program, one of the best trading systems I have found is the penny stock prophet. This simple newsletter gives you insight into what penny stocks are going to be hot. His picks are very accurate and have yielded a lot of members good results. I highly recommended for those who are Interested in day trading.

How to Buy Penny Stocks And Make Thousands Of Dollars By Trading In The Penny Stock Market

In the land of the most volatile stocks in the world, Penny stocks, stock promoters, pump and dumps, stock scams are a few of the key words that most people don’t know about when it comes to the penny stock market. Instead they talk about penny stock investing and investing in penny stocks. Investing in these type of stocks is a fools game. The reason for this is because most people do not realize that the OTC Markets (OTCBB and Pinksheets exchanges) list some of the worlds worst companies. Some of these companies are straight up scams like the ones from the movie Boiler Room which was modeled after the true story of Jordan Belfort who was called The Wolf Of Wall Street. This guy was involved in trading pump and dumps in the 1990′s and made $200 million dollars in the stock market. He later went to jail and lost everything, but the same scamsters and con artists that were involved in the penny stock market during Jordan Belforts reign, are still involved today on a different level. Never the less it is possible to earn a profit in this market legally today if you know about advanced technical analysis and chart reading and have a technical trading system for timing the market. You must learn who the key players behind the scenes are and how you can trade on the same side as these people or institutions such as hedge funds, market makers, and stock promoters.

The only way to make money in these stocks, unless you get incredibly lucky just like winning the lottery or winning $25k on a scratch ticket, is to learn to trade penny stocks. When I say trading what I mean is buying the type of stocks and then selling them with in a few hours or a couple days at most. The reason that this is so important is because the liquidity in the penny stock market is very low in general. If you hold a penny stock for too long, especially a position larger than a few hundred or a thousands dollars, you will have a hard time selling the penny stock when you want to. The reason for this is because the average volume in most penny stocks is less than $25k total per day. That means that if you want to sell $5000 worth of a penny stock your order would be selling 25% of the daily volume. Market makers that make a market in penny stocks will see your order and lower the best bid in order to screw you and take some of your money. They won’t execute your trade because they do not have to unlike in listed NASDAQ or NYSE stocks where the market makers have an obligation to market participants.

Starting in 2004 I started to learn how to trade penny stocks. At first I tried investing in penny stocks and soon realized how pointless this was. Then I tried buying stocks that I read about in penny stock newsletters and lost a crap load of money. Later I tried paying so called stock guru’s like Timothy Sykes and for stock alerts. I found that there’s no way to make money off of others stock trades and stock alert services because you you can not get in at the same price as the guru. I lost thousands of dollars trying to follow these people and eventually realized there’s only one way to make money in the market.

To make money your have to either come up with your own penny stock trading strategy or purchase an eBook or a stock trading guide that has a statistical edge. Most people won’t give this sort of thing out since when you have it you can make a lot of money. The thing is strategies come in all shapes and sizes. Some strategies make a lot of money but require you to sit at the computer from (9:30 a.m. – 4:00 p.m. Monday to Friday) This is called day trading. Other trading strategies allow you to look at the market just around the open from 9:30-10:30 and some strategies allow you to analyze and place your trades only while the market is closed (swing trading)

Trading successfully requires not only have a profitable trading method, but the method must also suit your personality. If it does not you will not stick to the trade signals and the system will be useless. After hundreds of hours of trial and error I finally found that my personality was suited for day trading and short one day overnight swing trades. When I tried to hold longer I just got anxious and lost money or sold to early. I back tested tons of technical indicators that matched my time frame and finally found a group of indicators that when combined gave me profitable trading signals. I don’t sit at the computer all day. I don’t trade hundreds of times a month like a scalper (another style of short term day trading). Instead I take several high probability trades a month with a position size of 3000-50000 shares of stocks in the $.20 – 3.00 price range range. On average I usually earn $5000-10000 a month in the penny stock market Some months more and some a bit less but month after month the trading patterns and trade setups I stumbled upon, allow me to earn big money and trade for a living without having to work for the man.

To learn more about my strategy feel free to check out

Online Stock Market Trading – How to Improve Your Stock Market Trading Odds

Trading on the stock exchange is a complex venture. There are strategies you can enlist but, first, you need to conduct research. Knowledge, along with skills and patience, are essential. You may also require a fair amount of time. If you attempt to trade without these abilities, you are likely destined to lose money, maybe more than you can afford.

This article will discuss some pointers which will increase the odds you will have success on the stock market. We will explain why these suggestions are necessary and provide some cautions at the same time.

Only Trade With Money You can Afford to Lose

You should never trade with money that is not disposable. This mean funds for the basic necessities of life and payment of your financial obligations should never be used for trading. Stock trading is not a guaranteed investment source. The odds are often only fifty-fifty that you will realize a profit. Sometimes, the probabilities against you are even higher.

It cannot be emphasized enough that you should never risk money you cannot afford to lose. There is too much risk associated with the stock market to unquestioningly trust that you will make money or come out even.

Trade in Reasonable Quantities

Start small with the quantities of stock you trade. As you gain experience and profit, you can increase the quantity of stock you trade. This is the wisest route to take.

Individuals are permitted on some markets to trade in quite large quantities. Some investors will take advantage of this so they will earn larger profits. These investors are also taking chances that they will sustain heavy losses.

Track Market Trends

Tracking market trends prior to trading is essential. You need to know whether trends are on the uprise or downfall. This is directly relevant to making an informed decision about investing.

Once you have researched market trends, you can then plan your strategy for making an advantageous trade. Trading without this prior knowledge, is an enormous risk.

Set Trading Time Frame

The trade market constantly fluctuates. This, along with time, causes prices to develop. You should determine ahead of time when you want to exit the market. This holds true even when you are in the market with the predominant intention of earning large profits.

It is not possible to gauge the exact time you should exit the market. You should, however, keep your trade in perspective and use your best estimate to exit.

Gaining profits through stock market trading is not easy or guaranteed. If someone tells you that it is, do not believe them. The stock market can have wild fluctuations and is never constant. A well thought out strategy built with market trends in mind will help to minimize losses.

To make a profitable trade you require a carefully planned strategy. You need to be competently informed about technical factors, as well as having a solid understanding of the foundations, of stock trading. Successfully trading can be accomplished with education and forethought.