Day trading................. what is your best advise.?

Question

I WANT TO START A DAY TRADING WITH A $50,000.00

CAPITAL ON A MARGIN ACCOUNT. ANY GOOD ADVISE

ABOUT WHAT SHOULD I KNOW.

Answer 1

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Answer 2

unless you can bring that 50k up to at least 500k beware!

Answer 3

You better know what you're doing and have been doing for a while. and thay you understand the maket and the rules governing it.

Here are four rules you must have, if you don't you will loose money

1 - A written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself.

2 - Sufficient trading/investment capital.  Use your own money, there’s no need to go into debt so that you trade/invest.

3 - A written money management program in place. Remember never invest 100% of your capital into any one security and never have 100% of your capital invested.

4 – A full and complete understanding of the rules & regulations of the industry.

Here are some of the rules that I follow, in additiona to the four cardinal rules above.

Never buy or sell based on anyone's, including your own, market predictions.

Stick with up-trending stocks.

Never buy stocks in danger of filing for or actually in bankruptcy.

Never average down.

Always sell when management cuts sales or earnings forecasts.

Only buy stocks with real sales and real earnings.

Always diversify between industries.

Don't buy stocks just because they've gone up.

Never sell a stock because an analyst proclaims it is overvalued.

Always look for companies with new ideas, new styles or new products.

Orders after an execution - a “stop loss”

No security is to be purchased at a price that is below the 50-day moving average price.

Good luck, based on your question, you're going to need it

Answer 4

1. 80% of daytraders lose money. Only 20% actually make money. You have a much better chance at blackjack or roulette unless you are a highly experienced day trader with a cast iron stomach. You are asking about it in Y! Answers, so you cannot be an experienced day trader. Notice that experienced day traders are really glad to tell newcomers how good this is. Newcomers are their bread and butter.

2. Daytraders have to pay the higher short term capital gains taxes on all captital gains.

3. Settlement times make day trading difficult, as your funds have to settle before you can buy a different stock.

4. Margin rates take a good percentage of your gains, plus you have the additional risk of a margin call if your stock falls, requiring you to put more money into your account.

5. The total of your trading fees will be far higher because  you do many more transactions.

6. The only thing worse than daytrading on margin, is FOREX on margin. FOREX wil get you 100X margin, but if your currency drops only 1%, you lose it all!

Answer 5

honestly; stay away from day trading unless you do your own research and are always in touch with what is happening in the stock markets. It is not only easy to make money  but also equally easy to lose money in day trading.

If you still want to go ahead learn a  bit about technical analysis and fundamental analysis of stocks and read some good journals and financial papers daily besides researching websites on financial news daily.

best of luck

Answer 6

Best advice? Don't do it.

Answer 7

I know traders who got started with less capital than that and are now doing great.

I've been in this business a long time, but cutting your losses and letting your winners run--still works for me today as it did a decade ago.

Answer 8

day trading is quite risky . but if you are interested  , refer the following link http://tinyurl.com/5dzlbx  it offers good info about day trading

Answer 9

Trading on the Forex Market is risky. You have to do a lot of research and know what you are doing. And on top, you must also consider if you can afford to risk the money.

There are some good forex resources at http://www.forexsecretrevelations.com/ you could check them if you decide to trade on the Forex market.

All the best.

Answer 10

trade forex, its a lot easier to make money in a short amount of time.

Answer 11

Excellent. You must do some research though and have as many network as I can.

So I would like to join forces if you want? The more the better. We are just combining our brain, not some sort that involves money. So if you want a good trading company, contact me at [e-mail].

I will send you the link which offer free trades. I do get a $50 recommendation rewards if you decided to sign up. We can divide it by two, which I will send through paypal if you like. It is better than nothing though.

And we will discuss on the best stocks to buy so that we and many of my or your future other networking people can get the best stock to gain profits.