I got Robinhood app. few months ago and $200 to start with, but i never was sure how to start. Here is what i did after watching exciting and trustworthy Tim Sykes videos posted on Youtube!
1. Used Google stock screener to zoom in stocks with proper price and performance. From $1 to $3 with 13w price change from -99% up. I think i've got smth. like 1500 stocks
2. Start watching them one by one. Looking at a graph of performance 1d, 5d,1m etc try to understand the pattern of performance.
3. Selected about 25 stocks and saved them in my portfolio.
4. Got 1 share of each company to stimulate myself to be involved, not only by my desire to learn daytrading, but also by creating my own small $$ portfolio. So invested around $140 into 25 stocks got 25 shares and had $60 left.
5. Start reading news and SEC reports one by one and watching a performance next few days. By 3rd or 4th day have chosen 3 stocks to watch using knowledge and inspiration i got from Tim's videos. Also watched Michael Goode's preview video about how to read SEC files.
6. Noticed SIXD by reading SEC files form 4 chairman of board aquired 20k@2 smth. and another 20k in a day or so. Also noticed that he made amendment in last form 4 putting D instead of A. Also noticed repeated news about opening office in Ireland. But being smart now ) by knowing Tim's guidelines understood that SIXD are trying to spice up their stock that was inevitably going down. "Historically" the stock was staying on $7-8 level.
7. Price went down to 1.50 and i decided it's time to buy and got 50 shares and waited. Another day price went down to 1.20, but i knew it's gonna go up so i waited. Next day was a perfect spike and i got out at 2.50.
I was so happy as if i've made a million dollars. For me it was a perfect confirmation of what i understood from even small amount of information i've got from Tim's videos. Gonna buy DVD and read his book. I've made my homework and i got a payoff. My other stocks mostly put my $200 portfolio down to 160smth, but SIXD made it back to 220 ).
Thank you Tim and I appreciate your time, efforts and most important your TRUTH about everything!
Your TRUTH is priceless!
Congrats, great start!
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