Here are a Few Tips to Help You Trade More Effectively from Your Work Desk

by Larry G Potter - Date: 2006-12-05 - Word Count: 539 Share This!

Tip #1 - Do your research at home. Through either your own Internet access, or the daily paper, you can spend the time to follow your favorite stocks. This will give you the freedom to do additional research/analysis (if necessary) and thoroughly look at your picks to ensure that you have made the best decision possible in regards to making the investment. This will not only make you a more informed investor but will allow you to more quickly take advantage of opportunities that may occur during the business day.

Tip #2 - Use e-mail alerts. Most online brokers will offer alerts concerning your chosen stock and the major developments in which it is involved. The benefit of this arrangement is that it quickly sends the information you want straight to you and eliminates the need to snoop the web for that same data. This type of system is best used by those watching a specific stock(s) and who have a very specific time frame for buying and selling an individual investment. However, longer-term investors will also benefit as a dramatic rise and fall with news may help you decide on a new approach for a given stock.

Tip #3 - Be discreet. We recommend that you delete cookies from your terminal (for advanced users only), that you either do not bookmark sites or keep them at a site such as This will avoid having them book-marked on your work terminal. You may also want to try trading from a wireless device rather than from your terminal. These devices while currently slower than dial-up access can be set up with the same features as your PC. Email alerts and realtime quotes are also available. Purchasing such a device would depend on the volume of your trading and the environment in which you work.

Tip #4 - Enter trade orders the night before. These orders will not be filled until the following morning's open. It is best to place a market order in these circumstances if you want to ensure that your order if filled. Otherwise place a limit order with a specific price and if/when the price of the equity matches your desired price the trade will take place.

Tip #5 - If you are close with somebody that is willing to do your trading for you then giving them directions and access to your accounts would allow you to leave directions with that person without the worry of doing those actions yourself during the day. However, these types of situations should only be done with somebody you trust and when you have very specific requirements (i.e sell if stock ABC rises past $0.70).

Tip #6 - Be prepared. Ensure that all the information you need/want is at hand and easily accessible. A list of the websites you use, a copy of your current portfolio and anything you feel is needed to make a quick, informed decision concerning your investments.

Tip #7 - If you cannot trade during the day, give after hours-trading a try. Firms like Swab and Fidelity will allow you to trade up to 8pm. Day trading at work can be a great way to reap the rewards of investing, so long as you make sure you are both informed and prepared to make decisions during the day.

Related Tags: b, invest, stocks, options, trading, daytrading, investing, trade, investor, eft, daytrader, equities

Larry is a recognized authority on the subject of trading. For a FREE report on HOW TO TRADE FAST and a 2-week trial to Stocks2Watch(r), visit:

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