How to pick a stock for a day trade?
What is a good step-by-step process to day trade?
If you’re a rookie in investing or stocks, go to
Open up a portfolio without using real money. You can give yourself as much or as little money to try out the market. The stocks you want to focus on is consumer staples, consumer discretionary, and healthcare. These are DEFENSIVE stocks that will survive through good and bad times. Most of my positions are in these stocks. Some names include 3M, Procter & Gamble, Kimberly Clark, Exxon Mobil, Walmart, Costco. Everybody’s got to eat and wipe their butts regardless of the state of economy. Many of these companies survived through the Great Depression.
That’s the benefits. You can sleep at night knowing your money is doing well. There are NO guarantees that you won’t lose money. It’s just that these stocks are the best. They pay good dividends too.
Then once you’re comfortable and test the waters of the market, you can finally put some real money in. Go to Scottrade.com. They’re excellent for beginners.
I want a career change! I’m interested in stocks / day trading, any ideas help.?
I’ve been wanting a career change for a while now. I currently am working a successful sales job, however it’s just not doing it for me anymore. So I’ve always had an interest in the stock market, however have dedicated no time to it. Recently i’ve become further intrigued and have picked up a couple of books, etc. I really want to learn the trade, including day trading, and then possibly seek out a career in this area. My question is, how do I get started with no expierience? What would an entry level position entitle? I understand licenses, Series 7 & 63, but what’s a good starting company and positiion to look into? I do have a college degree, but no education in this area.
You don’t need any qualifications to trade in stocks with your own money. And I don’t think anybody would trust a novice to trade with their money.
I suggest that you do some learning at www.investopedia.com
This website has a stock simulator where you can open a free account and practice trading stocks with virtual money. It’s a good way to practice various trading strategies and find out what works for you without the risk of loosing your hard earned money.
How do I (college sophomore) start investing?
What would be the smartest way to start?
I’m looking for something that I can just throw in that has the most gain for not a lot of risk?
I don’t feel that I am knowledgeable enough at the moment to start day trading and picking stocks.
“m looking for something that I can just throw in that has the most gain for not a lot of risk?”
You won’t get a lot of gain without a lot of risk. I wouldn’t even consider daytrading, especially for a first time investor.
What I would is make sure all of your college expenses are paid for. Try to graduate with little to no debt as possible.
I would simply start out with an FDIC insured savings account and possibly a savings bond or two.
I would start investing within a 401 (k) if it’s offered at your future job.
please question for day traders.?
i am a day trader and i usually pick a stock from the cnbc.com watchlist and see if their signs of profit that day and i have been pretty good with it and i am making profit. but i want to know what other day traders are doing and and how they chose stocks for day trading. as a day trader what should i do to get better at it.
As a general rule… I’d stay away from CNBC for stock picks.
If you’re not using “technical analysis” for day trading, what you’re doing is not maximizing your trades. You should be scanning for opportunities based on your technical criteria.
Money Management and position sizing are job #1.
Reading at least one book every six weeks is another must.
Two of my favorites (to start) are;
Trading In The Zone, Mark Douglas
Mastering The Trade, John Carter
Trading seems a little too easy to make money? What am I missing?
I’ve begun trading in the stock market and my strategy is to pick a stock each night that will go up 8% the next day.
And then sell it the next day once it’s gone over 8%, no matter how promising it looks to go higher.
With this strategy if I pick correctly for exactly 100 TRADING DAYS [about 5 months] then I estimate to have over $1 million when the 5 months are up. [Starting with €500].
Now, as a beginner I’m sure you’re all doubting that I can make 8% profit per day [I would too], but the thing is that I use newsletters, websites, forums, etc., etc. to pick my stocks for the following day.
I find one that lots of people support and has plenty of research behind it, I do some research and Tech. Analysis myself [as much as I can do], and if it seems promising, I get it.
So I’m not boasting that I have some great stock-picking gift, it’s just that I take the picks from other experienced people.
So far this method has worked out for me for just about 3 weeks now, and every time I’ve made a profit of at least 8% every time.
What is it that I am missing here?
Is there something that when I get into higher money then I won’t be able to invest in the more volatile stocks that have been giving me 8%+ profit?
I’ve seem some large stocks that move just as much, though.
And help is greatly appreciated.
With all due respects, your chances of success with this system are very low. If it were possible to never pick a stock that wasn’t going to go up then there would be a billion billionaires.
If it is working for you, then keep at it and become rich and retire early. Good luck!
Powered by Yahoo! Answers