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The Guts and Glory of Day Trading: True stories of day traders who made (or lost) $1,000,000 by Mark Ingebretsen

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Appendix. Money for Nothing and the Quotes Are Free – Understanding the basics of day trading

Before online investing brought about a low-commission revolution, day trading was restricted to a wealthy few who could afford the price of a seat on a major exchange. Now the price of admission is a round-trip commission of $25 or less. And that commission keeps dropping.

Today’s arrhythmic markets only add to day trading’s appeal. Who can resist the occasional gamble on volatile Internet stocks like CMGI, or Siebel Systems (SEBL), or JDS Uniphase (JDSU) – all favorites among day traders – when they move 5, 10, or 20 more percentage points in a single day? Buy the stock in the morning. Watch the price fluctuate tick by tick on your computer screen. ...

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