Market Investing - Layman's Question

[asphaltgambler]

OK PP-braintrust, I've asked this before and really did not get a 'true' answer. It seems overall I understand very little about stocks / investing specifically other than buy 'low', 'hold' long term, hopefully there will be steady dividends paid.

My overly simple observation, looking at the market in my local paper there is a column of largest % gainers in a single day. Is there one software application that would scan the entire market quickly and 'spot' stocks that start to rise in %, save them in a queue where you could then monitor real-time?

I know that my question may seem pre-kindergarden to most folks here. But to an 'outsider' it seems that any real gains in these days are made with information whether inside or not, not available to the investing public in a timely manner.

Further, I'm really in the camp as to not trusting someone else with my investing money, regardless of how the commission is paid. I may own this point of view because I saw my father, who was a very savvy and shrewd investor lose almost his entire fortune in the savings and loan crisis in the 80's

I would really like the responses to be narrowly focused to my question, to the point initially please, then we can expand

Thanks all

[VincentVega]

I'm not sure why you are looking for that specific data but since you asked, check Financial Markets Today - Yahoo Finance . Lots of market data sources, this is just one that simple and free. You can sort by various metrics and drill down where you want.

[asphaltgambler]

Vincent, well I thought the question would be obvious. If I were to day trade, had software that would scan and then select automatically, I could spot potential gainers for the day, buy early am then sell early pm...........

[nota]

oil future contract long date

[VincentVega]

Vincent, well I thought the question would be obvious. If I were to day trade, had software that would scan and then select automatically, I could spot potential gainers for the day, buy early am then sell early pm..........

Good luck. As I said, just about any brokerage software or news feed offers that info. Thats a pretty basic screen, I wish you the best.

[stomachmonkey]

AFAIK, no such thing as a free real time feed that is not on a delay.

[Gogar]

So,

You want an app that will tell you which stocks will continue going up so you can buy them and make lots of money?

Sounds great!

[Cajundaddy]

Looking for a software program to identify stocks on the rise? Probably a great way to lose your shirt IMHO.

Clearly identify your goals first. What do you want to accomplish and how long is your timeline? How much risk can you tolerate? Fast moving stocks often move down even faster that they move up. This requires a very good crystal ball. Day trading is highly speculative and not for the faint of heart. I have friends who have done well but it was more about pure luck than skill IMO. Sometimes the blackjack tables have better odds.

Highest risk- willing to roll the dice and risk losing everything in hopes of a quick score.

Moderate risk- willing to consider some losses in hopes of better returns.

Low risk- not willing to accept much risk and looking for long term appreciation.

If the second half of your screen name defines you, and you can lose $50k overnight and still sleep like a baby knowing that tomorrow is another day, day trading might be for you. It is gambling, not investing.

[McLovin]

I'll give you some advice that you will thank me profusely for a year from now:

Do NOT buy any stocks right now. None.

In a year, you'll see why.

[fintstone]

Yes, there is software that will do that.

No, I will not encourage you to day trade.

[GH85Carrera]

Sure there are tons of software packages to do what you want.

Each one will have different recommendation on which stock to buy.

If there was one that was really able to predict future profits they would not release any version publicly. That could make billions with the info. Why let anyone else share?

I know two different men who got "into" day trading. It consumed 8 to 10 hours per day and they bought software, listened to experts and I don't think either of them made much money.

The same reason you never see faith healers at the hospital or billionaire psychics, there is no way to legally make a lot of money short term for an small player outsider like us.

[Cajundaddy]

Originally Posted by McLovin

I'll give you some advice that you will thank me profusely for a year from now:

Do NOT buy any stocks right now. None.

In a year, you'll see why.

Hehe, buying stocks today might be a good test of ones resolve.

[asphaltgambler]

Interesting replies .......

[J P Stein]

I did some day trading for a couple months. It was thru my savings plan at work. Company stock was on the move and trades cost me nothing. After a month or 2, the saving plan made that a no-no. Did very well, but I was late to the game. I know guys that doubled (or did better) their assets.

Oher than that, I think one can do as well by making a trip to Vegas. The fix is in there also....but at least everyone knows.

[bpu699]

Originally Posted by Cajundaddy

Hehe, buying stocks today might be a good test of ones resolve.

For every stock you see being sold, someone is buying...

I think it was Bogle that said folks are horrible at timing the market. We all think we can do it, and we think we can do it better than everyone else (which by definition you have to do to beat the averages).

Full time money managers can't beat the S&P500...

2 things I have learned:

1) Don't bet against the house
2) In the long run you make money

[VincentVega]

Originally Posted by Cajundaddy

Hehe, buying stocks today might be a good test of ones resolve.

I've been dipping in. Long term here so it'll work out.

I dont understand the day trading thing at all. Unless you are putting in the time to become an expert you are gambling. Just buy good funds/etf's and do something you enjoy. Just depends what you are trying to accomplish, nothing wrong with gambling if thats your intention.

[widebody911]

There is software that does what you are wanting to do, but the playing field is not level and as such, you're not allowed on it. https://en.wikipedia.org/wiki/High-frequency_trading

[widebody911]

Originally Posted by VincentVega

Unless you are putting in the time to become an expert you are gambling.

The stock market in and of itself is institutionalized gambling.

[fintstone]

I used to make a lot of money day trading in my spare time. I would identify trends in small caps where they continually oscillated...almost like a sine wave (say between $4 and $10). I usually placed an order at night when for the bottom end of the oscillation...say $4.25 and it would usually fulfill in the morning. At lunch, I would check the price and place a sell order for around $6 or 8$ depending on the price. I usually bought about 1000 shares and made a $1000 every couple of days. The problem was...at least for me, it was hard to stick to small trades (as I was spending "found' money that I made in the market). Soon, I had made tens of thousands and was trading in much larger lots. The problem then was that sometimes my work didn't permit me to lunch or get off I time to trade...and sometimes life kept me so busy that I let some of them "ride" for top long and missed the sell and eventually they break out of that range. Some days I would look at the screen and have made $100K that day, but then I rode a couple all the way down to zero because I was travelling for work, etc. (before smart phones)...so I stopped after a particularly annoying $70K loss day (my job only paid about $80K)...even though I only lost money that I had made in the market, it seemed as painful as if I had really labored for it.

Not too long after, I was out of work for a period of time. I figured that it was cool as I could make big bucks if I concentrated on the market. The problem is, without other income...I was too conservative and just didn't have the ability to pull the trigger as the risk terrified me. Needless to say, I went back to work and have used an index fund ever since.

[PetrolBlueSC]

Day trading without extensive knowledge is gambling. Go to Vegas and hope for free drinks. Otherwise, diversify your funds among index funds (or ETFs).