I traded for a few years with 10K just to see what I could do. Nothing big but like a casino…fun. I was down to 4k at the worst and up to 12k before I pulled the trigger and sold out. Plus 7 bucks each way. I used 500 buck blocks buying up and would sell out in minute. Skitteshness saves money. Scottrade is the only way.
What’d I learn:
Trick is not to lose
Know your exit on entrance
Take the profit and be happy
I wouldn’t daytrade anything but .pk and .bb watch for the trend and in two weeks you can see 500%.
Don’t fall in love. Treat stocks like whores.
I hated the weekends and every minute was watching for the MM’s to manipulate the stock down 20% before the next 100% run. Don’t use stops….which means you’re stuck to the monitor.
It’s a brutal hobby and Scottrade needs 25K for DT accounts which knocked me out at the end. I did about a half year of heavy trading before they sent me the warning. If you manage to stay liquid it’ll be brutal. Best thing to do is lose it all and get it behind you. Not for the perforated stomachs.
