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1. How to make guaranteed money from "day trading":

   1) Identify someone who actually thinks it is possible.

   2) Sell them a "system" guaranteed to work.

   3) Blame THEM when it doesn't!

   There is no "proven method for day trading in stock market", nor can there be…think about it for two seconds…if there was, everyone would use it, and the market would collapse.

   Comment by Beau.Gus — April 18, 2009 #

2. Hi,

   There are a lot of ways to make money on the stock market day trading but I don't think anyone will tell you that it is 100% proven to work every time.

   You have to evaluate a risk/reward ratio on every trade. Also don't try to invest with more then you are willing to lose as that increases the emotion in the trade and emotions do not belong in the trading decision making process.

   One piece of advise that is worth knowing is to make a decision on where your stop loss is going to be and where you are going to sell out on profits before you even enter the trade.

   This will force you to make all the decisions before you make the trade and minimize any emotions in the trade. Also never lower your stop loss to stop your trade being sold as this wil normally only increase your losses and is a reaction to your emotion of thinking that the market will reverse in trend.

   Even though you are day trading look at the daily chart and determine if there is a downtrend or an up trend and only trade when you are following the daily trend. Don't bet against the trend as you will probably lose.

   Also learn about the following technical indicators if you haven't already.

   * Simple moving averages
   * bolinger bands
   * fibonacci retracements
   * MCAD

   If you like day trading then you may also like to trade forex which is a 24 hour market monday to friday.

   Hope this helps.

   Yours Sincerely,
   Anthony Irwin

   Comment by Anthony — April 18, 2009 #

3. Don't ever leave an order open over night.

   Comment by Ole Drippy — April 18, 2009 #

4. There's no clear answer. Everyone prefers other methods. I would say:

   Start reading. First thing you should do is buy 200$ worth of books. Believe me it's worth it. You will loose more then 200 if you just start.

   Next start developing your system, this is a trial error system, so it's important to papertrade. Don't use real money. I know you won't learn how to deal with emotions like with real money, but that you also don't want to lose all your money with your first trades.

   Next look for some websites out there, most have some bs tips, but a couple have decent recommendations. Never trade based upon others recommendations, but you can use them as a 'free' source of stocks to watch. I like to use http://www.chartratings.com/dtip.html

   which shows some very interesting stocks to daytrade. It’s totally free and gives you some great info.

   And don't forget to papertrade for at least 1 year before trading real capital

   Comment by John — April 18, 2009 #

5. If anyone has a proven technique, they are too busy making money to share it with anyone.

   Best advice - limit your losses and let the winners run.

   Comment by JWilly — April 18, 2009 #

6. I'm addicted to the daily excitement of day trading stocks–so much so that I can't hardly stand being around myself on weekends. That said, let me give a few pointers about lessons learned the hard way.

   Day trading stocks is a great way to make a small fortune, if you can manage to start with a large one. Flip flopping in and out of stocks just for the sake of trading will drain your account in fees, and enrich your online broker. So, if you make a trade, make sure you're doing it to either take profits, or minimize losses.

   You should also become familiar with the "pattern day trader rule" that requires you to have at least $25,000 in cash or equities in your account to buy and sell the same stock multiple times per day. This is a serious rule that can impact your ability to trade, so do a Yahoo search on the rule and learn about it.

   I would also recommend you read "Rule the Freakin Markets," by Michael Parness. Good ideas. You may also want to learn about trading software that gives you alerts to good trading opportunities, such as the one referenced below.

   Good luck, and go easy as you learn the business of day trading. Trade in small lot sizes at first, and always take profits when the market offers them to you.

   Comment by Ron — April 18, 2009 #