Any Day Traders?

[LETZ RUN]

Anyone mess around on a regular basis? Im just starting to dabble, trying to learn. We have a virtual game going on at the moment if anyone wants to join. It has 5k cash, and 5k margin. Its kinda fun, but delayed. I have been trying mostly the sub penny stuff as it seems to yeild the highest return, but things also go bad just as fast.

Just seeing if anyone else does this also.

[lsxtreme]

what is this about??

[GTScoob]

I'd love to hear some success stories. I'd much rather put money in something a little less risky.

[Fast Shadow]

Be prepared to lose a lot of money fast. I dabbled and in one year made and lost over $70,000. And that's small, small time stuff. I find that shit to be unnerving. It's not like 1998 when every idiot was calling himself a "master day trader" because every single technology stock out there was shooting straight up and they didn't have to actually do anything. It's nasty now, especially with the dollar still falling.

[LETZ RUN]

Im not talking anything serious like that. Im talkin opening an account with 2500, and just play. nothing life changing or anything like that. On this virtual one i've been doing fairley well. this is the 5th day, and im up 630 at the moment. thats not bad on a 2500 portfolio.

I'm talking about having a small account like that and trying to make 150 bux a week or something, thats it. just something to do while i work my regular job also.

[Fast Shadow]

You should also read up on how to report the sale of stocks when it comes time do you your taxes. If you buy and sell shares on a daily basis it can get to be very complicated. The IRS will view all of the sales of all of your stocks as income, even though you may have sold it at a loss. It's up to you to correctly report all of that or you'll get hammered. And if you do sell for a profit then definitely do your homework on the capital gains tax.

[Leekor12]

where can you play the stock for fun?

[OG-Skinny]

ML is my day trader. I hate e-trade.

As far as investing. Remember the motto "If you don't have a dollar to loose, you shouldn't be investing"

[ironchef]

I do it on occasion, just short on funds right now. And yea the subpennys are tricky, one second you could be up 400% and then down 25% the next. The problem with subpennys is that once you're good and have a fair amount of money, its tough to move that money through the stock. Say you got $10,000 to play around with, that amount could buy the entire float of some subpennies lol. Not that you should ever invest $10,000 in a single penny stock, but you get what i'm saying.