Does anybody know of a good novice site that introduces Day trading as an alternate income/job.... What are the basics? and What does one really do in day trading? Can you start off with $15,000? I hear the term day trading all the time but its hard to comprehend making significant money off a stock if it only goes up 3-5 percent every month if your that lucky.
I'm not a big fan of day trading, and I'd say it's pretty useless with only $15,000 with all the transaction costs you'll be paying...
uh, if this is your first experience with trading, i wouldn't start with day trading. learn some basics from investopedia.com. they even have a simulator for you to track your stocks.
well to be on margin for daytrading you need $25000. i'm not trying to sound snobby or anything but it sounds like you really don't know anything about trading so i would not "day trade" or you will lose your money. it takes a long time to learn the trade and some people just don't ever get good at it. the novice sites are good just for general knowledge but don't expect to ever make consistent money off of what they tell you. i am a licensed trader and i do make solid money doing it. i think we have a couple other traders on the site but i don't know if they do day trading or what.
it depends where you trade at. if you get on with a broker dealer that is per share then you will be fine.
Just keep this in mind: 50% of the people who invest in the stock market make money (this includes the thousands who trade for a living) and then there's the 50% who lose money. Do you think you know more about trading than the top half of all traders out there? If not, I wouldn't bother, ESPECIALLY with day trading.
i would change that 50% to 20-30% if not lower. and you don't have to know everything about trading to make money you just have to find a niche that makes you money and learn to adjust as the market changes.
No, what I'm saying is the obvious fact that 50% of people who invest in the market make money, while 50% lose money (it is called trading after all).
What? Investing in the market is not the same as a slot machine --- for every dollar someone makes someone else doesn't lose a dollar.
Day trading for most people is a sure fire way of losing money. I know great money managers who are at the top of their field now who lost their shirts day trading, because the necessary skill level wasnt there. Then I know plenty of others who lost the same amount because they knew very little about the market to begin with. All in all, if you want to practice day trade, get on a trading simulator, like what they offer at investopedia.com or similar, and practice there free of charge. Don't waste your time, buying those programs you see on tv either. If those programs were so good, the creators would keep the trading strategy a secret and run a billion dollar fund instead. Just start reading about technical analysis, which is a key component of day trading if you still want to take the leap. By the way, I'm a professional trader/money manager.
