I am a beginner to the stock market I have been reading and studying trading on the stock market. So far I have taken no action to trading on the market I am still in the learning mode and feel I am not ready to dive into it yet. I have a few questions I want to know if day traiding is a good idea I want to stick with cash trading my goal is to make a quick turnaround. I am planning to puchase software will the software indicate to me which stock to purchase to make a quick turnaround on? Or will I have to do some research before making that decision? Also, How many stocks will I need to purchase in a day and what price range per stock will I be looking at in day trading?
Day trading is NOT for beginners
you need to have enough knowledge of how to proceed in day trade so you don't get burned.
i'd suggest you learn all the foundamentals of stock market before you throwing money into stock market.
learn what cause stock price change and how market conditions and news affect stocks in each sector.
i'd highly recommend you get Jim Cramer's Mad Money AUDIO book so you can listen to the CD while driving it's very helpful for beginners.
and watch CNBC Fast Money to get every major market event and news to stay on top of the game.
also.. at least learn stock evaluation techniques and calculate net present value of underlying stock.
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