capital 10k. to earn $60+ per trade

Hi,

I am an inexperience person with stock investing. Currently, i have about US10k to spare and would like to go for daytrading.

I am aiming to purchase a stock, eg SIRI, and sell it after it goes up by 0.02 or 0.03 in order to earn about $60+ per trade after commission.

My stop limit will be when the stock goes down by 0.01.

Is it too strict?

Will be grateful for any constructive advice.

Thanks

 

PDT rule. Google it.

 

We know, you can do that all day long and never have to work again.

 

1) No you can get stopped out too easily by random changes in the bid-ask spread. If the market is "76 bid, at 77", you pay 77 to initiate your position, the spread can easily go to "75 bid, at 76" stopping you out at 76 or 75.
2) You need more leeway in your profit objective and risk tolerance.

 

in my opinion, start out swing trading first, no pattern day trading rule for one, and you'll loose less in commissions.

 

why haven't I thought of this before?

 

Hello:

I want to get into swing trading. What resources would you recommend to a novice trader ie.....books, websites courses?


Thank you

Aisle

 

Registered: Feb 2006!!!!
Have you traded something else before?