Trading successfully is a lot easier when investors have great tools at their disposal. A top stock broker should offer access to a wide variety of trade tools to help make the most of each and every trade. From real-time streaming quotes to last sale tickers, quality stock scanners, mobile trading apps, and level II quotes to name a few. Strong tools are essential for active investors.

Day trading tips can come in a variety of forms. Each trader might want something different – from free stock tips, to tips on tax when day trading. On this page, we have tried to collate as many useful tips as possible, including our “top 10”. These range from psychology to strategy, money management to videos. So from beginners to advanced traders, we explain a range of free tips that can help intraday traders.
You can have the best strategy in the world, but if you can’t stay disciplined and keep your emotions in check, you risk losing profit. The first thing to note is that it’s human nature to show and react with emotion, especially when there’s money on the line. Fear, greed, and ambition are three of the most prevalent and potentially dangerous emotions. Fortunately, we have listed the top psychology tips to help you keep a level head.

This brokerage is not as beginner friendly as others on our list, so you should look elsewhere if you are brand-new to options trading. But if you are experienced and want expert tools, you can find everything to whet your appetite at Lightspeed. With low pricing for high-volume options traders, you might find it the right home for your options brokerage needs.

Individual Accounts – With this account, your broker will manage your capital individually and make investment decisions tailored to your needs. The main benefit is having an experienced professional on your side. However, you will pay for that privilege with account maintenance fees and commissions. In addition, some brokers will impose high minimum investments of at least $10,000.


Advertiser Disclosure: StockBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Here is a list of our partners.
How user-friendly is their platform? – The trading platform provided by the broker needs to work for you. Most brokers offer several to choose from, some will tick the boxes for the average day trader, others will offer more advanced platforms for the veteran trader. Likewise, does it suit your hardware – is the platform compatible on Mac, PC, Linux, or whatever you use?
Successful traders have to move fast, but they don't have to think fast. Why? Because they've developed a trading strategy in advance, along with the discipline to stick to that strategy. It is important to follow your formula closely rather than try to chase profits. Don't let your emotions get the best of you and abandon your strategy. There's a mantra among day traders: "Plan your trade and trade your plan."
You can have the best strategy in the world, but if you can’t stay disciplined and keep your emotions in check, you risk losing profit. The first thing to note is that it’s human nature to show and react with emotion, especially when there’s money on the line. Fear, greed, and ambition are three of the most prevalent and potentially dangerous emotions. Fortunately, we have listed the top psychology tips to help you keep a level head.
To make comparisons between companies, sectors and markets a little easier, there are a number of mathematical models used. The most common and often the most helpful is the P/E ratio. The Price to Earnings ratio takes the share price and is divided by the earnings per share. It is possible to calculate this using past earnings, projected future earnings and with all sorts of moving averages ;-) Therefore, this is one number that it is vital for any investor to know and understand.
However, it might be best to not become too much of a market "expert". Some of the most famous and successful investors of all time, such as Peter Lynch, the famed manager of the huge Fidelity Magellan fund. He suggested that looking for clues in normal life is a great way to find opportunities. Lynch used to closely follow the shopping habits of his wife to see what brands people were buying. He believed that most people working professionally on the NYSE lived in a bubble.
Understand blockchain – Whilst you don’t need a thorough understanding of the technical makeup of cryptocurrencies, understanding how blockchain works will only prove useful. Once you understand how they secure transactions (blocks) publicly and securely, you’ll be in a better position to gauge the market’s response to big news events. Such as a huge company incorporating blockchain technology into their everyday business operations.
Normally a broker will offer their customers a branded trading platform that’s more or less unique to that individual broker, but there are also independent platforms that can connect to multiple brokers. An independent platform can be a good choice for the experienced trader, while using a broker’s own platform is the easiest way to get started for beginners.
Equity investments historically have enjoyed a return significantly above other types investments while also proving easy liquidity, total visibility, and active regulation to ensure a level playing field for all. Investing in the stock market is a great opportunity to build large asset value for those who are willing to be consistent savers, make the necessary investment in time and energy to gain experience, appropriately manage their risk, and are patient, allowing the magic of compounding to work for them. The younger you begin your investing avocation, the greater the final results – just remember to walk before you begin to run.
Buy “the basket”: Can’t decide which of the companies in a particular industry will be the long-term winner? Buy ’em all! Buying a basket of stocks takes the pressure off picking “the one.” Having a stake in all the players that pass muster in your analysis means you won’t miss out if one takes off, and you can use gains from that winner to offset any losses. This strategy will also help you identify which company is “the one” so you can double down on your position if desired.
Understand blockchain – Whilst you don’t need a thorough understanding of the technical makeup of cryptocurrencies, understanding how blockchain works will only prove useful. Once you understand how they secure transactions (blocks) publicly and securely, you’ll be in a better position to gauge the market’s response to big news events. Such as a huge company incorporating blockchain technology into their everyday business operations.
Diversify your portfolio to make sure that you don’t have too much exposure to one sector. This will help lessen your risks. Make sure to ease into your positions. You don’t need to invest all your money at once, and by easing in, you cost-average your position. Understand that investing in the market is a long-term strategy and historically, with time, the market goes up.
Control greed – Greed often influences traders in the following way; you enter a trade at $80 with a target of $95, but then it hits $95 and you think ‘I’ll just hold on a bit longer and increase profits further’. This only ends with you eventually losing big. The solution; stick rigidly to your strategy. Think long term and don’t deviate from your strategy, there’s simply no need to gamble.
The commission structure for options trades tends to be more complicated than its equivalent for stock trades. Until the commission cuts that swept the industry in the fall of 2019, most brokers charged a fee for each leg of an options spread, plus a commission per contract being traded. The per-leg fees, which made 2- and 4-legged spreads expensive, have been eliminated for the most part. We are seeing some brokers place caps on commissions charged for certain trading scenarios. 

If investing in single stocks may be too risky for you, consider investing in good growth stock mutual funds. Mutual funds are a simple, even boring, investment plan, yet they work well for most people. Of course, all investing requires a degree of risk; there really is no sure thing. But mutual funds are a great balance of reasonable risk and excellent returns. They have built-in diversification that will keep you from putting all your eggs in one basket.
By making it to this article you've taken an important first step in your investing journey -- picking a stock broker. There are many brokers to choose from, and each offers something a little bit different. See our guide below for more information on what you should be looking for, along with a list of our picks for best online stock brokers for beginners.
About the author: Blain Reinkensmeyer As Head of Research at StockBrokers.com, Blain Reinkensmeyer has 18 years of trading experience with over 1,000 trades placed during that time. Referenced as a leading expert on the US online brokerage industry, Blain has been quoted in the Wall Street Journal, The New York Times, Forbes, and the Chicago Tribune, among others.
Advertiser Disclosure: StockBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Here is a list of our partners.
Limit order: A limit order differs from a market order in that the trade is only completed at a certain price. For example, if you enter an order to buy 10 shares of Nike at $70 each, the order will only go through if the broker can fill at it at a price of $70 per share. Limit orders are a good way to buy and sell stocks that trade less frequently, since there may not be enough willing sellers to fill a market order at a reasonable price. They are also good for stocks that you feel are too expensive right now, but that you'd be willing to buy if the price dropped. These orders are a good for "set and forget" investing, since you can place a limit order that will remain in effect until a stock reaches the price at which you'd like to buy.
What are your financial goals for 10, 15, or 20 or more years down the line, and how do you plan on getting there? What is your level of risk tolerance, and what sort of investment approach will you take (value investing, dividend investing, or some combination of multiple strategies)? As you consciously outline your financial goals and the type of investor you want to be, you can experience success as a disciplined investor in the long run and stay on track with your plans.
Trading platforms are portals through which users access and manage their trading accounts for their financial markets. This helps the users maintain their accounts. Generally, such platforms are offered by brokers in exchange of some fee or discounts on trade commissions. With the advent of the discount broking industry, several platforms are also available for free or rather, access to platforms is included in the brokerage you pay. These platforms can be used to conduct research, keep a track of various financial products you wish to trade in, place orders, store your past trade details as well as to authenticate users. Trading platforms have opened up the possibility of e-trading or online trading.
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