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Guys, (and the canine) What is your advice for a penny trader starting out to protct the principal? What were your stratagies to gain thousands in principal? I started out in July with 2000 bills and ended the year with 4000, trading very conservative. Did you guys get a huge break starting out or was it lots of quick ins n outs? I have read some books, follow the message boards and do lots of paper trades. Just trying to build the bank without losing my a$$. Any advice is appreciated...THX Posts: 12 | From: mahtomedi | Registered: Oct 2004
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i guess im not party to this thread lol but since they havent answered yet i would say with 4,000 in the bankroll.. trade in 500 share lots of different stocks.. put stop/losses on all your trades preferably trailing stop/losses and try to trade stocks between $1 to $5 a share then the micro's.. micro's are very risky because of the pumpers and dumpers... there are less of that in stocks over $1 ... what books have you read? as your bankroll gets bigger trade in bigger lots.. your goal is to trade a minimum of 1,000 share lots in stocks of $1 and over... in my opinion.. use micro's for play so you dont lose your A$$ as you say lol ... also swingtrade then daytrade... what broker do you use?
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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