Would this stock daytrading method work?

Question

I was gonna get a real time quote service on the OTC and pink sheet stocks.

I was gonna check the highest % gainers from start of market. Read up on news on why they may be up and then buy shares and sell them a few hours later. I can get all this info live so their won't be much delay from the time I read to buying shares.

Would this work? I wanted to make only about $50 a week.

Come on guys. anyone actually try it instead of just giving me joke answers?

Not all of them go up on pump and dump. I said I was talking about the ones with news that came out on them.

Answer 1

If you want to day trade, news is of no importance because it comes too late anyway. The only thing that counts is the price movement itself, which is influenced by the people that have seen the news *before* you.

So... look for volatile stocks and play those with a trendfollowing or breakout system. Stay in the trade as long as it keeps going in your direction. Use up and down trends.

You need some starting capital, as you want to risk only a small percentage of your capital on a trade. But more important, trades that are too small will have their profits being eaten by brokers fees. The name of the game is "staying alive", long enough to catch the big one which comes once a week or so.

Last bit of advice: paper trade your system first and do it honestly for a few months.

Answer 2

Unlike the other posters here, I get the distinct impression that David is not doing well. If he was doing well he wouldn't be here asking for ideas. He has read dozens of books and taken courses, but still he's here on Yahoo! Answers looking for ideas. Unfortunately I think David is having trouble exactly where most Daytraders have trouble, in execution not in strategy. The strategy behind daytrading is enticingly simple, it's the execution that kills you. I have tried daytrading in the past with some success, but it was too difficult and too unreliable for my taste. There are far easier ways to make money in the stock market. If there was one piece of advice that I would give David, it would be to stop trading around noon. I always had a heck of a time making money in the afternoon. The good oppurtunities are in the morning. Make it a rule, no matter what, at 1:00, call it a day.

Answer 3

nope you will lose your money especially dealing with those types of stocks. The highest gainers on those type of stocks are doing a pump and dump routine to make them look good when in fact they are not. Stay away from them. Whats hot today will not be tommorrow.


IT IS pump and dump I get emails daily saying how xyz is currently at $2 and will go to $10 in a week. These clowns are trying to get rich quick and this is NOT the way to do it.

Answer 4

This penny stock service has years of proven experience. Ultimately it is the best service for beginners to use https://tr.im/dEq7d
You will have to wait between 3 and 10 days to get into the system in most cases. When I signed up it took 8 days. I wished it was faster, but if you can wait a week or two to start earn life changing money than you will have what it takes to make it in this business.

Answer 5

Here is a story about OTC.
A guy made a complaint to the SEC. He said he bought all the shares of the company and were stuffed in his dresser. There was something like 16 times of the volume of the possible number of shares still trading and there are still shares of the company still trading even though the guy owned all the stocks and never sold.

Answer 6

I have a better idea. . .

Collect this information and make contracts with people to send them emails precisely at noon every day, for $50 per week. You meet your goal if you find just one, no risk. Find ten and you have a pretty good living going.

Just be sure you give facts, not opinion, so you don't run afoul of the SEC.