Hello everyone reading this! I have recently decided to open an account with etrade after months of reading and trying to learn everything I can about penny stocks/day trading. Ive started by just putting 500 into the account and made my first trade today totaling 40$ profits was just wondering if it's smart to attempt to take higher positions on my trades or if i should just keep it slow and steady and just try and slowly build my account. Thanks if your're reading this even though this sounds like a dumb question because part of me thinks it is and another thinks i should go bigger.
Posted Jul 11, 17 8:31 PMbyClean_Supreme
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Thanks for the Karma.....Just Followed you to track your progress. We are starting at the same in general time. This will be fun....Good Luck Tomorrow!
Review how to make millions by Tim Sykes and Trade the Ticker by Tim Grittani. But your USD 500 will not cover that. What I do is review the risk levels on every trade. The lower the price, the higher the risk (or you need quick fingers). Nasdaq stocks move very fast!
Thus the lower positions I take. Because I notice that 4 dollar stocks are easier to manage (at break out / opening of the market) then 0.80 dollar stocks.
@Kingstonstock85 Thank you for the advice. Have a great day trading tomorrow.
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