I want to start day trading any advice?
I heard that companies or whomever has computer programs that automatically scan all the potential money making trades and just beat normal people to them.
and how much money do you generally need to start making real money
Whoever told you that has no idea what they are talking about. There are so many methods of determining what trades to make, no one has all the answers or can identify all the potential money making trades.
Day trading can be profitable, but you have to do your homework and understand the markets that you are going to trade, whether it is stocks, options, futures, or anything else. Develop a disciplined trading plan, and focus on managing risk and getting out of losing trades quickly.
April 10th, 2010 at 7:25 pm
Look, Find a volitile stock that moves 25 cents up and down. Find an average, buy low and sell high. I am new to investing but I turned $5,000 into $35,000 since Nov. Constant buying and selling is key. Don’t play a stock long, it may never pay out.
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April 10th, 2010 at 7:58 pm
Read charts. Practice trading by reading charts. If you watch enough charts you will get a good idea of what happens next.
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April 10th, 2010 at 8:18 pm
Whoever told you that has no idea what they are talking about. There are so many methods of determining what trades to make, no one has all the answers or can identify all the potential money making trades.
Day trading can be profitable, but you have to do your homework and understand the markets that you are going to trade, whether it is stocks, options, futures, or anything else. Develop a disciplined trading plan, and focus on managing risk and getting out of losing trades quickly.
References :
24 years trading stocks, options, and futures.
April 10th, 2010 at 8:25 pm
Research is the best way to do right now before we move into market.
best regards.
References :
http://markthing.com/forex.html
April 10th, 2010 at 8:36 pm
My advice is to steer clear of day trading until you learn technical analysis. Try investing in fixed income funds, closed end bond funds are my favorite. Try to buy low(check out their price chart for the last three months), hold the fund and collect the dividend. When the price goes higher, sell and keep your profit as well as the dividends you earned along the way. Quality funds to consider would be MGF, MIN, and HTD.
Watch all the videos on technical analysis on yahoo finance, study the charts and use all the tools on the site until you get a good feel for stock price movements. Whatever you do, don’t rush into it and don’t hand your money over to some expensive stock picking program, they charge more than they’re worth.
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