Anyone here into trading?

[mbonder]

You need to have $25k or more in an account to day trade, plus you'll need to have a margin account so that you don't have to wait for your transaction to clear before making another purchase. Not getting there with $50...

[Pantless Spency]

You don't have to be that high to make money on day trading.

[phreshkid]

You don't have to be that high to make money on day trading.

I think the concept of "making money" is relative to what you put in. If you want to make decent returns (now this is entirely hypothetical), you need large sums to start with. $25k is on the low end but is a good start if you want to actually make money.


But hey, what do I know.

[jaywood]

Making $30-$40 isn't worth it when it costs close to $10 per transaction lol. Penny stocks also aren't worth it. You'll learn that after you get waffled on a few trades. Do your DD and long term is MUCH safer.

^^^^ +1 on having $ to start. 25k is a bit high IMO though. $5k is just fine.

[mbonder]

I think the concept of "making money" is relative to what you put in. If you want to make decent returns (now this is entirely hypothetical), you need large sums to start with. $25k is on the low end but is a good start if you want to actually make money.


But hey, what do I know.

Not what I meant. I meant that if you make three "round trip" transactions in a week without waiting for your money to clear back into your account (you buy a stock, then sell a stock, then buy another stock without waiting for the money from the first sale to make it back into your account before buying the second stock) you get labeled as a pattern day trader, which puts you under a different set of rules, one of them being that you need to have $25k+ to trade with and have a margin account.

[kickinindian]

https://www.robinhood.com <<<<<<<<<<free trades!!!! >>>>>>>>>>>

penny stocks suck, but some of us dont have thousands of dollars to play with so turning $20 into $40 bucks (or $20 into $5) while learning the ropes of trading is pretty cool i think.

[decay]

that is not gonna happen with bitcoin again.

You're mistaken. The rollercoaster continues.

[Pantless Spency]

You're mistaken. The rollercoaster continues.

Is it true? I thought they almost all were mined

[george graves]

There are mock trading websites you can join that actually use realtime prices so you can get an idea of how you would do in the real world without losing any money.

I'd love to try my hand at that. Any one good link?

[Pantless Spency]

quick tale of caution.

most trading clients (etrade,TDameritrade,ETC.) charge $9.99 per transaction.

I had no idea, bought 10 shares of GBSN @.1856 then it started to rise good, so I bought 100 shares @.2043. had 110 shares, rode it to .2401 and sold my 110 shares, thinking I made something like a $4-$5 profit, then I checked into it and found out I spent $20 on the commissions of buying those shares..... lmfao lesson learned.

[plmichal]

I highly recommend reading "Trading in the Zone" by Mark Douglas.

I bought the .20 cent/share breakout of GBSN and sold into the .25 cent/share spike. Purely a chart play.

[Pantless Spency]

I highly recommend reading "Trading in the Zone" by Mark Douglas.

I bought the .20 cent/share breakout of GBSN and sold into the .25 cent/share spike. Purely a chart play.

I did almost the same buy lol but I went light, didn't know about the $10 commission for each transaction, so even though i gained before i sold, i lost money FML lol.

[jaywood]

quick tale of caution.

most trading clients (etrade,TDameritrade,ETC.) charge $9.99 per transaction.

I had no idea, bought 10 shares of GBSN @.1856 then it started to rise good, so I bought 100 shares @.2043. had 110 shares, rode it to .2401 and sold my 110 shares, thinking I made something like a $4-$5 profit, then I checked into it and found out I spent $20 on the commissions of buying those shares..... lmfao lesson learned.

Lol, read my above post. I tried to warn you. ^^^

[Pantless Spency]

Lol, read my above post. I tried to warn you. ^^^

haha yes i am a fool.

next time I'm fully prepared hahahaha. $16 to learn a lesson. lmao.

[Kershaw]

came expecting a wife swapping thread. leave disappoint.

I didn't come at all.