Beginner question for making quick money

[feltonw]

use you want to practice with fx, then dl a demo account with FXCM. live data and good tools. hours of good fun even though its not real money on the stake.

 

[Assassin]

Ok so I've read through tonnes of information and I've still got two questions (I apologise if these have been previously covered I must have just overlooked them)

1. How do you watch the stock market live? I can't seem to find any information on watching what stocks are doing what. I would like to be able to sit there with a list of stocks and watch them go up and down in real time.

2. When I put in a sell order for a share at a particular price, say the share has gone up 50c, does the sale happen immediately or do I actually have to wait for someone to buy it, in which time the price could drop again?

 

[Trembling Hand]

Ok so I've read through tonnes of information and I've still got two questions (I apologise if these have been previously covered I must have just overlooked them)

1. How do you watch the stock market live? I can't seem to find any information on watching what stocks are doing what. I would like to be able to sit there with a list of stocks and watch them go up and down in real time.

2. When I put in a sell order for a share at a particular price, say the share has gone up 50c, does the sale happen immediately or do I actually have to wait for someone to buy it, in which time the price could drop again?

There are 3 types of data available from various sources, mostly from your broker but also data providers.

1. End of day (EOD) basically it will provide the open, close. highest, lowest prices and volume traded.

2. Delayed which is free from most brokers and websites like yahoo & MSN. Normally 20 minutes delayed.

3. Live. Which will just about always cost you a monthly subscription fee from your broker or data provider. For the ASX that can be from $40 up to $200 per month. This will be the actual live trade price plus various other info like orders that are sitting in the market.


As for placing order they will be sent straight through to the market (millisecs to seconds). It will be executed at the best price offered by other traders who have orders sitting in the market. This takes a little getting your head around. Maybe look at these vids to see orders taking place,

https://www.aussiestockforums.com/forums/showpost.php?p=312502&postcount=21

 

[Aussiest]

Be very careful alwayslearning, this guy has been homeless and needs to get himself on his feet. I agree with another poster, forex is a whole other game. I have never been profitable in forex, but have been in share trading. So, my advice to Assassin is:

Good on you for opening the Commsec account. You will be able to get live data from this. Just type in the stock code and you will see depth of market: the buyers and sellers for that particular share. You will see orders go in to the market in real time. Their charting is not that good, but it is a good place to start for 'live action'. Remember, it's one step at a time.

Do not get carried away with the 'get rich quick' schemes that other posters here might advocate. You came here for share trading advice and i think you should stick with that. A lot of professionals say you should stick with 1 or 2 instruments and specialise in them. You have made a good start, do not detract from your path. Come back here when you are rich and buy us all a beer :

 

[kam75]

Hi everyone,

Have just started looking into wealth creation after having recently got myself out of homelessness after a year and a half. I am looking to throw a bit of money towards share trading and I have just signed up for the ASX Sharemarket game and plan to use that until the end of the year to learn as much as I can about share trading while I save up some more money to invest for real in the market.

I currently have 2k and want to save another 2. When the time comes I will be more than happy to take big risks and try for quick profits with 2 and be willing to lose it if it happens, and be conservative with the other 2k and I'm wondering what is the best way to take big risks and make profits so I have a couple of questions.

1. Should I be watching the stock market constantly throughout the day? If so how do I do that, is it just through the ASX site or do I need to download a special program?
2. What are generally the best type of companies to watch where their prices go up and down a fair bit throughout the day?
3. What is the best way to find out company announcements before the news gets hold and everyone starts selling off or buying?
4. Any other tips for taking risks and making quick profits?

Thanks in advance for the help guys.

Forget about making money. You need to have a plan for not losing your own money first. It does not matter what you trade, you got to have a set of rules. Try to save at least 5-10k and get educated before you start to play. Why do I say this? Well lets just say that there's plenty of people out there with 20 or 30 years of experience waiting for newbies like you to take money off. Your first goal for at least the next few months after you write down your rules and test them on paper in the market should be CAPITAL PRESERVATION. Thats CAPITAL PRESERVATION with a capital 'P'. Focus on controling your losses and managing your money properly.