Look - if you can get more than 1.4% edge per day (which is what it would take to justify your strategy), why wouldn't the hedge funds do it when they can trade almost for free? 1.4% compounded per day, with 250 trading days per year, means you can increase your money by a factor of 30 in a year assuming the strategy scales. 30x in one year becomes 1000x in two years and soon you're a billionaire. Does that sound realistic?
98% of day traders lose money in the end. Most of them are gambling with much more money and much lower commissions. It's great that you want to invest, and I encourage you to do so, but please don't whittle away your money like that. Research a good stock that's selling for a lot less than it's worth and buy and hold. That's how people like you make money.
Your good luck on your recent trade has unfortunately given you the impression that it's easy making money by day trading. This will not make you money over time. Investors who make money are those who have a long-term strategy and don't try to make fast profits.
It's call Day Trading. There are certain rules. Learn more about that.
You will soon find yourself broke. You cannot time the market and since you are simply randomly trying to pick stocks, it will prove to be disadvantageous to your wealth.
Buy some boring dividend payers, set up a DRIP and hold for many years.
there is no guarantee you will always make money on stock trades and if you start trading frequently you will soon see you have probably paid them more in sales commissions than you have made
You can also donate from time to time to support those who are struggling. http://www.gofundme.com/fvmm0g
Heyo, so basically this is about me starting the investment career I love cuz i like money. I opened a Scottrade brokerage account and finally after getting the money i had deposited to my account($1,000) i began investing two days ago. Currently i've racked up 109 bucks minus the commission fee. My question is, am I allowed to buy a stock and sell it on the same day? I did that today with a stock but i am curious to know if I can continue doing this to earn money faster. Please let me know, i could really use the help
