To an active trader, it is essential to constantly follow the market, trends in the market, as well as trends in the stocks (that you have positions in). Dynamic Daytrader fills all those needs, primarily by eliminating the need for you to go out and do the research / legwork yourself. In addition, if you are trying to become an active trader, Dynamic Daytrader’s website also offers the training and tools for you to become an educated day trader. Here’s what I found while researching the site.

Site Layout

Simple and easy to navigate, Dynamic Daytrader provided me with a good web surfing experience. The site is fairly clean, with only a few banner advertisements that get in the way. The mouseovers on their navigation buttons are interesting, and if you notice the structuring of the navigation bar, they emphasize their three newsletters (the Morning Call, the Positrader, and the IPO Daily).

Let me pause to tell you that I clicked on one of the displayed links at the bottom of the page talking about a free tutorial about Level II trading screens, and that I have been engrossed in it for 15 min already, and the tutorial is not even a quarter of the way done yet. What is funny is that after giving a pretty good summary on Level II screens, it has gone into talking about the history of the financial markets, which (according to them) started in 1138 in “La Bourse, Paris”, the Paris Exchange.

Let me interrupt again, and tell you that this tutorial is incredible; it is very good in teaching beginners through interactive exercises in a Q & A manner, every now and then. Of course, they are hoping to sell their Online Training CD-ROM, but that’s beside the point. I feel that this free first module is definitely worth a look for anyone wanting to learn a little bit more about the stock market, especially about Level II screens. If you want the direct website address, it’s http://www.tradingacademy.com/webclass1.htm. Trust me, this tutorial makes advanced topics easy to learn for beginners, and it’s free (at least the first module is).

Okay, finally finished the 45-minute tutorial, what’s next?

I didn’t mean to go off on a tangent like that, but somehow, I started watching, and I couldn’t stop; it was just too interesting and educational. So where am I now? I decided to take a look at the heart of their website, their free publications (the newsletter). By the way, their newsletters are delivered by email at certain times in the day. Their disclaimer assures me that they make money off of the advertising revenues, not stock referrals (from within the newsletters). So I opt for a look.

Hot off the Presses

Morning Call: Looking through some of the Morning Call archives (they retain a good four months of back issues of the newsletter), I looked at today’s newsletter and its format. The first part is an analysis/summary of the day’s events. July 6th’s issue talked about the Computer Associates earnings warning and the effect it had on the market; they also commented on the resignations at Oracle (of its president and COO). This section also concentrated on the various indices (Dow, NASDAQ, S&P), as well as their respective index futures. The second section focused on stocks to watch, and focused on 10 stocks that it felt had noteworthy movement that day and foresaw possible movement in the near future. It also mentioned the previous close price (for affordability, perhaps?), as well as comments on the movements.

Positrader: An interesting newsletter, the Positrader tries to offer position trading tips and ideas. Because position trading is more long-term than the target audience of this website, I am unable to decide whether its presence is a good or bad thing. In the end, I decided it was good, and that it complemented the rest of the site (with what it was lacking). Here’s why. The first part is similar to the Morning Call, and the editor looks at any economic news that might impact the market, as well as comments on possible trends that are developing. That leads into the second part, where the stock pick is made (in this case, Aglient Technologies; June 28th). It gives the stock symbol (linked to a Quicken stock profile), the Entry target price, whether it should be a long or short position trade, the exit price range, the time frame, as well as the stop loss price range. In addition, it provides a Realtick.com trading chart, as well as commentary about the stock and the suggested trend.

IPO Daily: Because IPOs are so popular with active traders, it is no wonder that Dynamic Daytrader has devoted a newsletter to the subject. Of course, one has to realize that IPOs are a mixed bag, and so it may be hard to pick the winners. This newsletter strives to do just that; As with the other newsletters, the IPO Daily has a commentary in the first part in which it analyzes IPOs, and lists a few that the readers should be aware of. In addition to tips, it also relays the latest news on IPOs, as well as tips on how to find trends. The second portion lists the IPOs to watch, including the ticker symbol, the expected price range, and the lead underwriter. In addition, the editor comments on each IPO, showing the rationale for the analysis.

Left...Left...Left, Right, Left

Training could not come more easily explained than in their training section. It is sponsored by the same people that are trying to sell their Training CD-ROM, so there are obviously hints and banners gesturing at you to try it out. However, this section is composed of several subsections, and tries to explain all aspects of active trading. It keys in on the trading psychology and risk, as well as tips for day trading. Then it goes on to explain how the NASDAQ system works, as well as technical analysis (support and resistance explanation) and Level II trading information. I honestly found it very informative, and useful to the novice trader. Next is an explanation of how the orders are placed and routed, as well as risk assessment and management information. And lastly, you are able to download charts and lists (resource tools) in Adobe PDF format. A very complete education, in my opinion.

What Else?

As usual, no free active trading website is complete without its sponsors, so there is a section in which Dynamic Daytrader partnered up with Barnes & Noble to sell their recommended books. But after scanning their list, it looks like they’ve put in effort to gather a comprehensive list of day-trading resources.

Their Online Resources section is also well organized, and links you to the prominent professional trading firms, discount brokers, market data and news sites, trading and investing services, and quote services. Not only is it a comprehensive list, but they are the ones that likely pay the bills for this site. So if you like this site, I would recommend visiting its sponsors.

The next sections consist of a commentary about day trading, an explanation of the website, as well as information on how to advertise on the site, and a way to contact them by email.

Great E-Stocking Stuffer

Just a joke; What I meant to say is, you’re likely to find yourself receiving more in the mailbox than you wanted. Email, that is. Because if you subscribe to all three newsletters, they will come everyday, without a doubt. That is not a bad thing, though. I am very impressed with the quality of their newsletters. Each newsletter is relatively short and simple, but contains valuable information to keep abreast of the market as well as tips on what stocks to watch; it is an invaluable tool for any day trader.

And once again, I believe their training area as well as the tutorial provided by Dynamic Daytrader’s sponsor makes this site at least worthy of a one-time visit. I think I’ve learned a lot about day trading, the tools used (Level II screens, in particular), the terminology and history involved, as well as the risks involved and how to manage them.

Rating

Two thumbs up. The site is easy to navigate, the information is comprehensive and easy to understand, the newsletters contain valuable information, and the resources are plentiful. It is a great site to begin your learning, and I would highly recommend this to: novice traders, active day-traders, and financially-inexperienced people. It was worth my time, I’m sure it will be worth yours as well.

Good luck trading.




Recommended: Yes