BillyG.

Hi brownsfan019; As far as costs go I am referring to the initial start-up account funding. 3K as opposed to 25K for stocks. I was impressed with Infinity by the way the broker answered the phone and not someone who knew zip about trading. I'm not saying OEC brokers don't answer the phone---that I don't know. I do know that when I was with TD Waterhouse I sometimes waited for 20 minutes to get one on the phone. The costs I think are about the same as compared to OEC for a round turn trade but $0 for softwear is hard to beat compared to$25/mo. for Sierra. However I don't know enough about the softwears of each to compare them. Do you have or know anyone on here that has had any negative first hand experience with Infinity? They also have live training using their order system which sounds helpful for me. I am not going to fund for a few weeks until after I am caught up with my outside chores. This winter will be my time to learn. Thanks for reading; Billy

My thanks to everyone that replied to my questions and posts. Since the last post I have been checking out the Russel 2000 emini and the S&P500 emini as scalping territory because of the popularity at this site. Given the lesser cash required to start with I'm leaning in that direction. I'd rather test my skills and ability to learn with 3K as opposed to 25K. I have been in contact with Infinity Brokers. My contact is Patrick. They offer Sierra charts $25/mo. and free live feed with no monthly fees. I think I'm gonna start with them. Sierra is free for the first 2 weeks to paper trade it. Not sure If I need any other paid services yet. I'm looking to scalp now with the trend; up or down; and using a simple set-up with just 2 moving Avg's. for the Russell (The 20 and 5 simple) and just the 20sma for the S&P. I'm leaning strongly toward starting with one contract until I can profit then adding another and another as I grow more confident. However quicker scalps with multiple contracts is a very tempting thought. If I can make this work and learn from it I will stick with the eminis for however long it lasts. This seems to be the road of least resistance for me now. I want to keep it as stress free as possible. Thanks for reading, Billy

Hi Walter; Well I have to say I read your links and it sounds great but way over my head right now. Put my brain on overload it did. I like the rainbow graphing and see where it will be a great tool for trading but would have to see it in action to understand it more I guess. Remember I haven't even ventured into loading a charting platform yet. I would love to try your technique when it is complete. I know you said your research is on Forex but what are you scalping? Maybe you could recommend a Stock charting platform. Thanks; Billy

brownsfan019; Thanks for the reply. I will poke around a bit and see what I can find here. I see you have a section on Stocks. Billy

Hello brownsfan019; >>1) What are you planning to trade? Stocks, options, futures, forex? Right now I'm leaning toward Stocks with high volume, high volatility. So I will be looking at a program to pick those most active at the open. >>2) How are you planning to trade? A few trades per day or many more? That will be based on how fast I learn to be profitable. 1-2/day to start with tight stops. >>3) What style of trading will you be using? With trend, against trend, pivots, market profile, candles, etc. etc. I don't know how to answer this question. With trend or against trend sounds too long for me; pivots maybe; market profile not sure; candles yes for charts. Lets say if it looks like its headed up or down I'm in for a quick 1/4 point or more, long or short. I would like to base support for direction with pre-trade chart formations or a platform if its available. All I am aware of right now is Level 2 but don't know if that will be as effective as say something newer. Thanks for helping; Billy

Hello Soultrader; Lets see if I get this post correct. You mentioned: >>Grabbing one intraday swing a day is enough to live off day trading. So practice capturing these intraday swings as if they are your bread and butter. In other words, start by being a intraday positition trader.<< This sounds good to me and I would like to ask you where do I start? How should I set myself as far as computer screens, programs, brokers. I'm at a very basic point right now and I don't want to load any programs unless they are useful. I mostly just look at clearstation for stock charts. For instance: I like the candlestick charts but don't know where top go to get one or which one is the best. Any suggestions? Do I need level 2 ? Where do I go to get it? Whats my best price and volume source? Is IB a good broker? You see I want to start out right so I don't waste time. Am I making any sense or am I asking the wrong questions? Thanks, Billy

Hello; My name is Billy. I just turned 53 and my body doesn't want to do construction anymore. I'm getting ready to enter the trading arena again and have sworn never to hold anything overnite since I got wiped out back in 1999. I've always fancied how scalpers trade and am wondering if there are any scalpers here. Maybe scalper isn't the perfect word but as long as I'm all cash by the close I'm in there. Now I've found some interesting material on the net but I'm leery to throw money their way unless I've heard some good unbiased testimonials that are convincing. Can anyone here guide me to some honest information in this type of daytrading? Are there indicators or software that can alert me to which direction a stock is poised to move in the next few minutes? What would be my best windows setup to be watching for this type of trading? I have an account with Fidelity but I'm thinking Interactive Brokers might be faster on execution. Any thoughts anyone? Thanks; Billy