There are no tricks for trading in the stock market.
Investment strategies for trading stocks are based upon your overall financial plan and what actions you take that are relevant to the realization of that plan.
Without a financial plan, you don't have any criteria with which to determine what stocks to pick and what to do with them based upon certain performance criteria.
When you listen to these so called experts who give you investment advice, you don't see their overall investment strategy, and the logic behind that strategy.
Let's say that your goal was to make $1,000,000 in 1 year trading stocks. With that criteria, you begin to plan around it.
About $83,500 Per Month would yield a gross of $1,002,000 in 12 months.
About $2,785 a day for 30 days would yield a gross of $83,550 per month (which would yield a gross of $1,002,600 in 12 months).
So based upon these numbers, you develop your strategy around them.
Well, as I thinking of trading the forex on a daily basis, what time would be the best time to take closing price of a daily bar? Would it be 12 am?
Since you want to hold a currency pair for days, keep in mind that If you hold a spot forex position overnight then you may pay or receive what’s called the rollover fee.
Good luck
http://www.ez-traders.com
If that is the case, would there be any advantage to incorporating? I would like to deduct my expenses for office equipment and technology and subscription services.
As a corp. will I have to list each individual trade as I do now on my Sched. D?
What would be the tax advantage of incorporating if any?
Dan V.
If you list at least two of the books im reading this month i'll give you the "Best Answer"
So what are you guys reading?
2. The Stock Trader: How I Make a Living Trading Stocks by Tony Oz
3. The Nasdaq Trader's Toolkit by M. Rogan LaBier
4. The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities by Alan S. Farley
5. Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders by Oliver Velez
6. The Undergroundtrader.com Guide to Electronic Trading: Day Trading Techniques of a Master Guerrilla Trader by Jea Yu
7. Day Trading on the Edge: a Look-Before-You-Leap Guide to Extreme Investing by Leslie N. Masonson
8. The Guts and Glory of Day Trading: True Stories of Day Traders Who Made (or Lost) $1,000,000 by Mark Ingebretsen
Trading PENNY STOCKS will just increase your chances of failure and is akin to gambling: You may hit it big once in a while, but usually you'll lose.
As suggested, start with a 'Dummies' book or the like. Also, scour the internet for info on daytrading. Investopedia.com, for one, has some good articles on short-term trading and technical analysis.
I've heard you can make good money in forex, but I would strongly suggest getting very educated about it before getting involved.