January 3, 2009
is there any good stock trading tool for people having day jobs?
John C asked:
I would like to do stock trading, but it takes lot of time during the trading day. I was wondering if there is a good stock trading tool for people with a day job, like may be a sms message to a pda cell phone indicating stock tips and entry and exit points and allow to execute trading with a click of a button.
I would like to do stock trading, but it takes lot of time during the trading day. I was wondering if there is a good stock trading tool for people with a day job, like may be a sms message to a pda cell phone indicating stock tips and entry and exit points and allow to execute trading with a click of a button.
thanks,
John
Rocco
Comments on is there any good stock trading tool for people having day jobs?
I suggest you check out
quit your day job
Yes, I had text message alerts sent to my cell phone for a while.
One way is to use limit orders to buy and stop loss orders to sell then it is pre-programmed in a way.
But that way you can blow through the stops and end up buying what you thought was a good stock at a good price but bad news is tanking it. So you end up buying it on the way down as it falls further.
These days there are web capable phones. But you still have to find the time to monitor everything.
Trading is a job. You can’t do two jobs well at the same time.
Keep your day job and “invest” well, not trade.
That is my advice for making the most money with the least risk.