Being a day trader is your job...day traders work on fractions of a point so you have to constantly monitor the price of your holdings...I am not sure your employer would be real happy with that.
Hello,
You should try with Penny Stocks Trading (you can find more info here: http://pennystocks.toptips.org)
Penny stocks, also known as cent stocks in some countries, are common shares of small public companies that trade at low prices per share.
I've been subscribing to this PennyStock web site for about a year now and have loved the objective advice they give. He really does look for quality stocks and I've made some pretty nice profits on a lot of his suggestions. Being still fairly new to investing I have been dabbling a lot in penny stocks to try and grow my account. I may not have a big account, but it's a lot bigger than it was a year ago. On just one of Nathan's picks this year I managed to make my investment back ten-fold! Be careful! Penny stocks are notoriously risky but if you follow the right method the risk is almost 0. I suggest to invest only little money first and then reinvest the profits. This is the site I'm using: http://pennystocks.toptips.org
Good Bye
"How much time?"
More time than you have to devote, one of the major drawbacks of day trading. You can never devote too much time to trading. You have to be there every moment, concentrating, planning, following your trade plan, devising alternate scenarios, researching, comparing, devising risk ... etc. A trader is using six monitors comparing time frames, and you're looking over your shoulder trying not to get caught.
" do it while working an 8-5 desk job."?
Dumb idea. You can do neither justice.
Words of Wisdom
If you concentrate 100% of the time, you will be 100% effective. If you concentrate 95% of the time, you will be 90% effective. If you are concentrating 90% of the time, go home.
You are essentially stealing from your employer every time you turn your attention to something other than your job. Shows bad character, lack of responsibility and due diligence, i.e., untrustworthy.
Full-time traders lose 85% of the time. And you think you can do it part time?
Here is an example of a typical full-time trader
From one mentor:
Most traders we speak with have learning curves that have cost them between $15,000 and $70,000 and up to two years in time.
If you want to try trading, since you are not ready to actually trade, build a trade plan and test it on a simulator until you become consistent. You can achieve a lot while learning, and it really does pay off.
Learn to invest first, trading is not possible for the amateur. especially when he has no direction, plan or strategy, let alone time to put into a method.
Five Minute Investing: How To Evaluate A Trading Strategy
http://www.investopedia.com/university/f...
The Cardinal Sin Of Beginning Investing -- And How To Avoid It
http://www.investopedia.com/stock-analys...
I'm earning good money with this binary option signal sofrware ( http://forexsignal.kyma.info ) What I'm going to show you now might irritate old-fashioned traders who can't accept that a piece of software can outperform what they have learned through many years of trial and error
In general, most people who participate in day trading lose money. Don't do it. Invest for the long term.
How many times per day would you have to monitor your stocks? I am trying to determine if I can do it while working an 8-5 desk job.
