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Everyone has their own rules...but the #1 that I think all would agree on is to "protect" your capital...this is the most needed "Tool" in this game...with out it you can do nothing...
Lot's of great info in this thread...start at the begining...good luck to you!
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how does daytrading work . . . im looking a couple of stocks that seem to dip go back up dip go back up on a daily basis
ex: CCGI, FGFC, and ACMG now tell me if wrong but CCGI usually dips to .0003 and up to .0005 almost on a daily basis. Thats a 66% gain to be made almost everyday. If i daytraded wouldnt that be a good stock or is there restrictions for micro pennys
help a newbie out i have nearly 3k in my account and i use scottrade
how and what exactly is a daytrade? tell everything there is to no
-------------------- who says you cant trade stocks at 17!!?
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you need books, online help, study materials here, on-board--where there are plenty of threads and links to study...if it were that easy as you suggest? The Cub Scouts would be earning merit badges in Trading... seriously, no offense, you need to learn enough to understand that you can't merely sell on "last sale" ie, the last price that went through...this is trading, so you must understand "bid" vs "ask." In your example, if it "dips" to .0003, that doesn't mean *you* or *I* can buy at .0003. Likewise, because MM sold at .0005 doesn't mean you can sell at that price... Think of cars...just cuz you see one sell for $X, can you yourself go buy that same car at $Y, and sell at that X-price for a profit?
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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you need to read books or take a offline course (though they can be pretty expensive to attend)... i would very much so suggest doing swing or position trading over daytrading if you are just a beginner.. get your feet wet and experienced before you even conceive of dumping 5k to 10k in daytrading.. if you don't you will most likely get wiped out... learn from the old saying... Knowledge is Power .... below are suggestions for books and sites...
A Beginner's Guide to Short Term Trading by Toni Turner www.toniturner.com (for swing/position trading)
A Beginner's Guide to Daytrading Online by Toni Turner www.toniturner.com
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