Hi, I'm new here (first post!), and i'm also still new to stock markets and have come across something which I can't find any clear information on. Everything I read seems to indicate that in order to daytrade you need to be subscribed to a brokerage, such as interactivebrokers. But the only reason why you need a brokerage that I can find i this: "Day traders could trade their markets directly via the various exchanges, but this would require a trading account with each exchange, so it is more efficient and easier to use a day trading brokerage." What??.. Another question I have is that if it's so difficult to make considerable money on the stock market, why do people help each other out? Surely this just leads to even less money made? Or I am missing something here
I don't think you can day trade without a broker, since you won't have access to the trading platforms. The platforms themselves aren't going to waste time dealing with an individual (unless you're uber-rich) . With regards to your second question, it makes sense for people to share stock tips because the more demand there is, the higher the stock price will go. Simple economics, unless I'm missing something? I agree that sharing an automated trading strategy would not be smart, unless you could be the first to get your orders filled.
I agree on both counts with allie. You will be shut out of the platforms unless you're holding millions of dollars. As to the second question - people share information with each other in exchange for information later. Considering the volume behind each stock's daily trades, the people you share your expertise with will not affect the stock price at all. However, later, they might share insightful information with you.
