Free Day Trading Tips
Are there really any free day trading tips?
Well YES. Learn chart reading. You may not be able to predict the future but you can at least tell what is happening in the market right now.
What is a trend? What is congestion? Here is one man's definition. I studied it and frankly, his definitions are just as good as anybody's and he doesn't have to use a single indicator!
for a definition of trend.
for a definition of congestion.
Here are some more free day trading tips, some found quite by accident. For example, I was talking to a broker about trading software and asked if he has heard of TradeStation. He answered, "Yes, I have heard of Trader's WorkStation."
I Google searched this innocous phrase and found that this was the trading platform provided by
Now here was an example of a deep discount broker, charging half the price this other broker was charging. I think you owe it to yourself to at least check them out.
An excellent free day trading simulator that works with Interactive Brokers is
In the lite mode, simulation is free. There is a monthly fee to lease this software to make real trades.
Like in that Nike ad, just do it! But if one cannot be profitable, behind a trading simulator, what are the chances of being profitable in real trading. Better to concentrate on training and education first.
If you use eSignal as your charting service you get to use their charting program which comes free. If you are a proficient chart reader, having read the above resources on trend and congestion, it maybe all you need.
, to visit the eSignal website.
Now, through a special partnership agreement with eSignal, you can receive a discount on eSignal.
to receive your special discount offer.
However in addition to eSignal charting you may also require TradeStation 2000i. eSignal is directly supported by TradeStation 2000i.
Think of the benefits:-
(1) A wide range of 3rd party support. Some of the most sophisticated technical indicators and trading systems available in the market.
(2) For the programming oriented, self verification of trading ideas on historical data.
Alas, Tradestation 2000i is not free (it retails at USD2,399), but quote this website and we'll see what we can do about a discount.
, to visit the TradeStation 2000i website and read the full colour brochure.
Finally, watch the simulations happen day after day, in real-time.
Watch the winning trades and feel the elation. Watch the losses and discover how that feels. Feel the frustration when the account equity goes up significantly only to fall back to where you started. Only then when one trades for real, we know more about what to really expect.
Ultimately trading must become routine.
I just came across an interesting way to check out the many day trading vendors out there.
For example, to learn more about Bruce Babcock, try this:-
I have a lot of respect of Bruce. He succumbed to cancer many years ago but a trading system he left behind still makes money!
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