EPTOn October 02 2009 10:30 Track wrote:
Yeah, please do elaborate. Very interesting post. Can you give us a couple of examples of your trades and why you made them?
Yeah, please do elaborate. Very interesting post. Can you give us a couple of examples of your trades and why you made them?
i do not have time to cover it right at this second, but i should have a chance on sunday or tuesday!
edit: also, is 1k really enough to day trade?
yes, 1k is enough to day trade. It's not what i would call good earnings (you won't be making enough money to grow your account very fast), but it does give you extra money. With that money you can slowly build your account, or just take it out for extra spending money.
That being said, if you can start with around 2k, it's actually decent enough to grow your account. I started playing with 3k, i made some money and also put more money into my account, eventually growing it to 8k... but then life struck and i had to have eye surgery as well as some other shit to deal with.... So i was down to 1.9k, and made $350 on a trade in august. (315 shares of CBL at 6.1, sold at 7.35).
One of my friends also bought CBL, but a day after i did... overnight it went from 6.1 to 5, and he had 20,000 to invest. so he gets 4k shares, waits for it to go up (like i did), but gets greedy and doesn't sell when i did. instead he waits 2 weeks and it goes up to 8.5. He makes $3.5/share on 4000 shares..... that's $14,000 in 3 weeks.
Of course situations like that (as in, super lucrative) aren't the norm, but i certainly wouldn't say it's uncommon either.
