I want to start day trading on the internet?
I live in the U.K. Every firm I've looked at has a 15 minute delay on the quoted share prices. I need a real-time supplier of share prices. Anyone know any?
Public Comments
1. E-Trade
SCOTTRADE
2. If you set up an account with investopedia.com you can change the settings to give you up to the minute prices. But you really REALLY don't want to day trade. Unless of course you want to lose money, because day trading is one of the best and quickest ways to lose money.
3. if you want a full solution with online trading platform visit www.tradestation.com, they are best in class.
4. Don't do it. You will lose - you will never beat the spread, which can change. Ask the broker/spread bet company how many clients make a profit and what is the average annual return - you will be amazed (that is if they will answer the question!)
5. Investopedia.com
Its fab for all sorts of info.
6. Your online broker should provide this
If not, switch broker!
7. The broker will give you the price, only use their price because sometimes there are slight differences e.g. HBOS holds the same price for 30 seconds after a quote even if the market price changes.
The only way to make money day trading is spread betting, commissions destroy returns on shares and CFDs are too expensive and not highly enough leveraged.
You will normally be better of following a buy and hold strategy but there is no reason not to take advantage of short term mispricing as well.
I have a high yield portfolio which I haven't changed in years but I still make some fast money trading over a short period (normally more like a week than a day).
In my experience the best way to make money short term like this is to take leveraged positions in big companies which have fallen unduly, I have used this recently to profit from tsco and bgy.