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Message
re: I would like to start online trading but have very little knowlege about it
Posted on 10/18/12 at 11:10 am to mandevilletiger34
Posted on 10/18/12 at 11:10 am to mandevilletiger34
quote:
it seems like i would do better having a lot of shares of a low value than a few shares of a larger value. is this the correct process?
Yes. But pennies are junk. So you have to be real careful, as another pointed out, it isnt as much about valuation as it is speculation and news. You have to find sites/message boards where there is a lot of action/talk on a particular stock. This is usually due to news that comes out the night before or early morning hours. You can easily double/triple your money quick and also lose. Sometimes it just sits there. Gotta look for trends, volume, news, etc. This is just based on my experience and I did not make alot
But this is what you have to do IMO. It is not easy, most of the time you just need to get lucky with pennies. But if you dont mind blowing $300 bucks for just for the experience, then take a shot.
0
Posted on 10/18/12 at 11:11 am to mandevilletiger34
If you want to gamble $300 you are better off just going to the casino, there are at least free drinks potentially decent looking women. To be a legitimate day trader(over 3 round trips in a 5 day span) you have to maintain an account value of $25k. I would highly advise you against doing this. I used to work at an online broker similar to sharebuilder and watched way too many people lose their asses day trading and "playing the market". As someone previously suggested, read 'A Random Walk' or 'Winning the Loser's Game'.
Posted on 10/18/12 at 11:16 am to Chris Farley
quote:
To be a legitimate day trader(over 3 round trips in a 5 day span) you have to maintain an account value of $25k
I also forgot to mention this. Some sites are different but if you are labeled as a day trader, you will have to have $25k in the account. So you have to be careful how many trades you do in the 5 day or 7 day span, otherwise they shut you down until you come up with the money. I would suggest going to the casino like Farley said
Less stressful
Posted on 10/18/12 at 3:28 pm to Crbello4Hiceman
quote:
Crbello4Hiceman
Posted on 10/18/12 at 4:31 pm to mandevilletiger34
quote:
i would like to try the 300 to get my feet wet, but with the 9.99 per trade fee from share builder it seems that would be hard to do? it looks like you would lose more money just out of the fee?
That is correct. You are paying $20 (or 6.7% of $300) per round trip, which is a mighty big headwind.
But if you just want to play around and get your feet wet without expecting to get anything, go for it. Consider the $300 as tuition.
Posted on 10/18/12 at 9:46 pm to foshizzle
Go to the roulette table at Harrah's. Bet the even.
Posted on 11/1/12 at 11:36 am to C
quote:
Yeah I think msft is a good low risk high reward play with their new tablet and windows 8.
looking good today
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