Stock Trading Tips

You may think you need a lot of capital to succeed in stock trading. Fortunately, the answer is no. All you need is passion and determination. Stock trading is not a way to get rich quickly, but if you are humble enough to continue learning each passing day, you can make consistent profit and build your wealth.

Before you start using your real hard-earned money to trade, make sure you have a good understanding of the basic trading concepts. Successful trading is not simply about picking the winning stock, it involves many other aspects – trading strategy, trading plan, and sound money management – that you must adhere all the time. Trading Discipline Is A Must.

As a beginner, there are many things you can learn from this website. A number of articles should be helpful to you such as Finding the Right Broker, Stock Investing Tips, How Useful Is Technical Analysis, etc.

At last, when you get stumbled, do not give up and always learn from your mistakes. Even those successful trading gurus keep learning and try to improve their skills everyday. Your passion and determination will help you go through tough times.

Make sure you check out this site regularly to get the latest update and articles. Enjoy your trading venture.
 

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Market Update
Wednesday 5 November 2008
Key Events/ Market Movers
•    Labor market continued to get hammered. ADP reported that private sector lost 157,000 jobs in October, up from a revised drop of 26,000 in September
•    October ISM service sector fell to 44 from 50.2 in September
•    The dollar gained against the euro and fell versus the yen
•    December crude prices fell $5.23 to settle at $65.30 per barrel as weekly inventory was unchanged from last week

Market Highlight
•    Dow 9,139.27 (-486.01 pts or -5.05%), Nasdaq 1,681.64 (-98.48 pts or -5.53%), S&P500 952.77 (-52.98 pts or -5.27%)
•    Stocks fell sharply one day after the presidential election. After the election euphoria, the market was back to focus on the battered economy
•    VIX spiked to 54.56
•    Credit market continued to improve. The overnight Libor fell to 0.32% from 0.38%. The 3-mo Libor also fell to 2.51% from 2.71%
•    As expected, SPX hit the 1,000 level. However, it failed to march higher. 1,000 level happened to be 23.6% Fibonacci retracement and served as a strong resistance
•    If SPX continued to drift lower from here, it could potentially test the low of 10 October