Hey im looking of getting into day trading, any advice? web sites? how to get started? the risk?
2007-02-26 16:43:37 · 7 answers · asked by aces_wild87 1 in Business & Finance ➔ Investing
so how excatly does it work, is it as simple as buy it when its low, and say the share price triples, can u sell it for quick payoff when ever you please? or is it more complicated.
2007-02-26 17:03:26 · update #1
Education is #1.
Start by reading the book Master the Trade by John Carter and then read Winning the Day trade game. Those'll give you a primer on which to build and will allow you to better ask your next round of questions. :-)
You can also visit sights like eSignal and Kwikop to see some of the charting tools/indicators there are out there that you'll be needing once you do get started.
Hope that helps!
2007-03-01 16:36:37 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
We specialize in penny stocks trading under $5/share for our members. They can be much more volatile, however for investors who have a cheap discount broker such as Scottrade, can make some great money in this market. It is important when daytrading to have a cheap online broker so that your commission costs are low and you can enter a trade and then exit and keep more of the profits for your wallet!
We had a pick this month for our members that went up 133% within a week. As well as a pick in Sept. that recently has hit another new high for a 393% gain.
Timing is very important and you should never just jump into a stock without taking some time to research the company ("due diligence".)
I recommend you look over http://www.investopedia.com/articles/basics/
... for some beginner advice and if your still interested check us out at http://www.bullishinsider.com
Paper trading is also a fun way to learn to trade. Pretend you bought the stock using the amount of money you would be considering using, and then track the stock from the moment you would enter the trade.
Feel free to e-mail me if you have any additional questions. Good luck. Happy trading!
2007-02-26 17:56:59 · answer #2 · answered by bullishinsider 1 · 0⤊ 1⤋
One great website I've looked at a few times is stockrumors.com. It's about the rumors which affect the stock. Most of the time it seems what it talks about is definitely worth investing in. It gets the info. out fast, which is the main thing because timing is what the stock market is all about. Of course, even that goes wrong sometimes, too. But I've found it to be fairly reliable, especially when compiled with my own quick research on the specific stocks which are rumored about.
There is definitely a risk associated with in the stock market. I know several people who have gotten very rich off of it, but every single one of them says they'd lost a lot on the stock market, too.
One thing I've learned--don't hold onto your investment too long. If it's lost, don't get in the trap of thinking "I'll just wait until I get that back." Because you're just as likely to loose more than to gain it back.
Well, happy investing!
2007-02-26 16:59:39 · answer #3 · answered by Laurel W 4 · 0⤊ 1⤋
Forget Day Trading. I did it for a year. It is really hard and you can lose your a**, especially if you know nothing about stocks.
Buy good stocks - do your own research - (not tech stocks) and sit on them. Best way to make money in the market.
2007-02-26 16:52:26 · answer #4 · answered by Anonymous · 1⤊ 0⤋
spend time on urself. d best investment is educating urself b4 jumping into the unknown world.once u educate urself, then, d unknown world becomes "known-world". no patience/cant wait, then always buy energy stocks. gd luck
2007-02-26 16:56:36 · answer #5 · answered by silver hawk 1 · 0⤊ 0⤋
You are aware you need by law at least $25,000.00 USD to daytrade, right?
2007-02-27 09:28:38 · answer #6 · answered by Anonymous · 0⤊ 1⤋
hi, i'll be sending you an email regarding trading... im sure you'll be interested..
2007-02-26 20:33:06 · answer #7 · answered by marcomatias0223 1 · 0⤊ 1⤋