Anyone with any margin of success in stock market investing pays very strict attention to his stocks using technical analysis. Watching the ups and downs of stock prices is the most important element of playing the market.

When it comes to 401k advice you need to watch your stock prices every day, noting whether prices are heading up, down or even fluctuating. You can find stock listings in your local newspaper or on many Internet websites.

It's also important to read the statements that your stock broker sends out to you every month. It will help you keep records of price trends. In between statements from your broker, the Internet will be a most valuable resource for the correct prices.

In addition to watching your own stock prices, monitor the price of stocks you are interested in with an eye to buying them down the road. If you track the ups and downs of potential stocks, watching the pattern will help you make an immediate decision on whether to buy, sell or hold.

Extra cash or a bit of a financial windfall can be used to increase the amount of stock you own. Top up stocks that have been performing well. Remember the importance of diversifying your portfolio because it really is true what they say. Don't' put all your eggs in one basket.

Keep your broker's phone number handy for when it's time to buy or sell stock. Tell him what to do and at what price. Your broker will handle the transaction and give you a transaction number when your order is placed.

Read industry papers such as the Wall Street Journal or Barrons. Both contain not only market prices but news and information that will affect the entire stock market.

Be warned that like a bomb, the stock market can "go off" at any moment. It is very volatile which is why sometimes cooler heads must prevail with stocks that double. Look three years down the road when investing in the stock market and don't dump your stocks impulsively if they start to take a nose dive. Take a look at your stocks over time.

Day trading can be profitable but also highly stressful. It demands your constant attention and sophistication.