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Day trader's please give me adviceDay trader's please give me advice
Icecold99 said: "i'm just starting out in the market
whats a good amount of money to start trading day by day
would 1000 be good enough??
what tips do u have for me to start me off ??
any tips would be great :)"
AlfredSokol said: "$1,000 is a very small amount of capital to day trade with."
Icecold99 said: "whats a good amount for daytrading??
2000?"
sp0om said: "Buy low and sell high. That usually works well."
Heather said: "What is your daytrading plan?"
Icecold99 said: "u guys need to educated me
what do u mean by day trading plan?
isn't it to make money
sorry if i got it wrong
but i really don't kno what you mean"
HappyHarry said: "There's one big problem with daytrading with a small amount of capital.
Daytrading involves you getting in and out very quickly, even multiple times daily, looking for very small profits.
If you have only $1,000 you can control very few shares of most stocks. For you to make money off "clipping" trades of a .25 a share, it just doesn't add up after you subtract transaction costs.
With $1,000 you want to look more for "swing trades" which can unfold over the course of days or weeks or even months."
Icecold99 said: "so it's like long term investing ... until have a big enough capital to start trading mutiple time a day"
HappyHarry said: "Not really "long" term but longer than a day.
This way you can buy and sell stocks based on news events."