GF - Trading is part observation and part intuition wrapped in a blanket of discipline. Pick several stocks that you "know" (their business, fundamentals, leadership), watch how they trade during the day, observe their price levels and how they react to areas of resistance and support as well as option exercise price levels. Read as many charts on your selected stocks as you can while varying the time periods and technical indicators so that you gain a "big picture" perspective of the stock as well as become familiar with the shorter intraday timeframes. I have found the more observation that is done, the stronger the intuition becomes. Initially you should rely almost entirely on your powers of observation and discipline through price levels and stops and allow your intuition to develop. As time goes by that intuition will gain confidence and allow you to make better trades, but only because you practiced discipline early on. Your hardest and most important lesson will be learning how to set stops and take losses - you have to check your pride at the door and be able to quickly admit when you have made a bad trade and get out. Never let a trade become an investment. You will lose money when you begin - it's a fact. Not if, but how much. If you are not "seeing" the trade - walk away and come back the next day. This is all stuff I have had to learn the hard way, even though I was "taught" this before I started. You may have to learn the same way unless you are smart enough to heed the advice that has been given to you by this board. Good luck and happy trading.
BTW - Interactive Brokers is 1 cent a share for under 500 share lots and half a cent for over 500 share lots. No frills, but will save a bundle over time compared to $10 trips.
AI
