I used a $23.00 investment in $NXTD this morning and made $2.00 on it. That's an 8.47% return in 2 hours! I know that $2.00 is not much money, but you have to think of small accounts in terms of % gain until your account grows.
Don't be afraid of trading because you have a small account! I have a $24.00 profit since December 18th. That's true, but this is real money and real profits. I started with $400.00 and have been very conservative on my trading because I don't want to lose what I do have. I have missed some opportunities to have higher gains, but as Timothy Sykes says, don't worry about the trades you miss or not executing perfectly, be glad you made a profit and move on to the next trade.
The math here is that my $400.00 account has grown by 6% since December 18th. Almost 1 month of trading with a 6% gain. Most long term investments MIGHT gain this much in 1 year.
So, don't let people tell you not to trade just because you have a small account. Keep studying, and if you see a good trade jump in and trade it!
@MLENTSCH0 Yes, news, court hearing results, SEC Filings or several other indicators could show you the movement of a stock. I saw $DRYS a couple of weeks ago had double the volume of it's daily average early in the morning. It went from .13 to .19 within a couple of hours with no news only large volume of buyers.
How are the commissions affecting you? I haven't started live trading yet and am a little concerned w/the small profits vs commissions.
@TjRauschmier I am currently using Robinhood. They are commission free. In other words, I don't pay commissions. That's how I am able to make such small profits without hurting my account. There are limitations to using Robinhood though.
Thanks! I'm going to look into them for starting out.
Join now or log in to leave a comment