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[QUOTE]Originally posted by treemoney: [QB] One thing is if you paper trade pennies. Make sure you see what the spread is between the bid and the ask. It can look like your making big bucks on paper but in reality your order or sell wouldnt even get filled. I like to trade nasdak or nyse stocks. Some penny stocks are scams and give misinformation. What has worked decent for me so far is this. I use the Investors buisness daily website and use the canslim stock selection. They have a free three week trail. These are all the stocks with the best volume, earnings, best industry ect...It would take many hours for you to find a stock as good as these meeting all the criteria. Or you can buy an IBD and do it yourself by checking the stock ratings. Find the ones that have a consistant uptrend and obvious support and resistance and single them out. A stable uptrend but there are things you should know, like it the uptrend gets to steep all of the sudden it may not be a good buy at that point. Then draw support and resistance lines and find out the support. When the stock falls to its support buy it. You can set really tight stop losses like this because the stock shouldnt go much further down than its support. If it does than it may be a trend reversal so you would want to sell it anyways. Also always be aware of the news for your stock and what it means. Also if the market is bearish you can reverse your strategy and go short. Find bad companies that are continually downtrending and sell short and buy at a lower price. You need a margin account for this though. You probably wont averege much more than 10-15 percent a month like this but by the time your 20 you would have a lot of money. If you study and read a lot of books on trading and watch stocks during market hours to see how they act, you could make a higher percentage trading. I wouldnt recomend it untill you have more money though. Because your commissions would take to high a percentage of your profits. [/QB][/QUOTE]
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